Headlines for Wednesday, July 18, 2012

Opel hires VW exec as CFO, names new head of r&d

General Motors' Opel unit hired Michael Lohscheller, who helped turn around Volkswagen's money-losing U.S. operations, to be its chief financial officer. Read More »

Study predicts dramatic decline in lithium ion battery costs

The price of automotive lithium ion batteries is expected to fall dramatically by the end of the decade and even further by 2025, according to a McKinsey study. Read More »

Porsche plots eighth and ninth model lines to follow Macan SUV

Porsche is deciding whether to add a second supercar and a BMW 5-series rivaling sedan to create an eighth and ninth model line. Read More »

Fiat extends summer break at Panda plant by two weeks

Fiat will extend the summer break at its Pomigliano plant near Naples, which makes the Panda minicar, by two weeks to adjust output to rapidly falling demand in Europe. Read More »

Webasto promotes deputy CEO Engelmann to top job

German supplier Webasto has appointed Holger Engelmann, 47, as the new CEO of its holding company, effective Jan. 1, 2013. Engelmann, who is currently deputy CEO and head of Webasto's roof business, will succeed Franz-Josef Kortuem, 62, who has led the company for 18 years. Read More »

ID thief hid behind heartwarming story

In retrospect, it should have sounded fishy. But the car shopper told an elaborate, heartwarming story, said a finance manager at Evans Toyota in Fort Wayne, Ind. Now a man who fits the shopper’s description is in custody, a suspect in a string of identity-theft cases across several states. Read More »

AutoNews Now: Bracing for union battle

Tough times may be ahead in talks with Canada's auto union, Honda to make Civic Hybrid in Indiana, a guide to Opel shuffle. Read More »

GM Building in New York to lose namesake tenant

GM is preparing to finally move the last of its executives out of the famed Fifth Avenue tower in New York that still bears the automaker's name despite its long-dwindling presence in the tower it sold years ago. Read More »

First Shift: Gay-themed Volt ad a hit

GM spot may spark more mainstream marketing efforts; Cadillac's big adventure; U.S. probes Ford Escape, Mazda Tribute. Read More »

FordDirect will help dealers manage reputations online

FordDirect, a joint venture between Ford Motor and its dealers, launched a new service to help dealers manage their reputation and social media presence online this week. FordDirect has contracted with Digital Air Strike, a Sunnyvale, Calif. Read More »

Honda plans smartphone-based Web connectivity on new Accord

Honda will launch a new connectivity system this fall on the redesigned 2013 Accord that will enable drivers to access Internet content in the car via a smartphone. The system is called HondaLink. It relies on the driver's iPhone or Android smartphone to connect to the Internet. Read More »

Honda to build Civic Hybrid in Indiana, will boost plant capacity by 25%

Honda plans to boost capacity 25 percent, or 50,000 units, at its plant in Greensburg, Ind., and launch production of the Civic Hybrid there early next year. The $40 million investment will create 300 new jobs by the end of the year, the company said today in a statement. Read More »

Owner of Nuerburgring race track to file for insolvency

The owner of the Nuerburgring race track is set to file for insolvency, the German state of Rhineland-Palatinate said today, blaming the European Commission for taking too long to approve a rescue package. Read More »

Silent justice: The Nissan Leaf as a stealthy police car?

Portuguese criminals throughout Lisbon may have to peek over their shoulders in fear of silent justice. Electric Nissan Leaf hatchbacks, bearing the moniker “Polícia,” could pull up stealthily at a moment's notice to bring the law. Read More »

Caddy takes on world with ATS ad rollout

GM is rolling out a documentary style ad campaign -- “Cadillac ATS vs. the World” -- featuring the luxury brand's new compact sport sedan twisting down switchback mountains in Morocco and cutting through the windswept plains of Patagonia. Read More »

… but growth is disciplined, so far

It's too soon for lenders to worry about the subprime auto loan market overheating, a Wells Fargo Securities analyst says. That means dealerships probably can look forward to a continued strong comeback in subprime. Read More »

How to eliminate the F&I office -- and prosper

For most dealerships, the art of steering car buyers from the salesperson to the F&I department is an ongoing challenge. Read More »

Phony service contract appeals hurt legitimate dealers

Unscrupulous direct-to-consumer marketers -- with their phony solicitations that tell consumers, “Your warranty is about to expire” -- hurt the extended-service-contracts market for everyone. Read More »

Defendant suppliers ask for civil claim dismissals in price-fixing litigation

Two dozen defendants in consolidated civil price-fixing lawsuits being heard in federal court are calling for the suits to be dismissed. Read More »

Name brands can ease F&I sales

Name recognition sure helps. That’s true even in a dealership’s finance and insurance office where the products are often less tangible or familiar to customers than the four-wheeled products sitting in the showroom. Read More »

Subprime car loans are gaining …

A quarterly survey of risk specialists in the lending industry showed they expect an increase in subprime auto lending over the next six months and indicated indirectly that they expect easier credit in auto lending overall. Read More »

Jaguar sales decline in June but Land Rover demand rises on Evoque

Tata Motors said June sales of its Jaguar brand declined 5 percent to 3,829 units, while Land Rover deliveries rose 49 percent to 24,386, driven by strong demand for the Range Rover Evoque. Read More »

GM's Opel hires VW exec as CFO, names new head of r&d

General Motors' Opel unit hired Michael Lohscheller, who helped turn around Volkswagen's loss-making U.S. operations, to be its chief financial officer. Read More »