Headlines for Thursday, August 2, 2012

AutoNews Now: Trouble across the pond

European losses continue to mount for GM, with no end in sight; Akerson addresses leadership turnover; Fiat's woes in Italy. Read More »

First Shift: July winners, losers

A mini-streak for Smart, and a dubious distinction for Mitsubishi; Europe losses hurt GM earnings; Mercedes the ideal car? Read More »

Toyota rebounds, but can it stay on track?

Toyota is back on its feet after a year marred by natural disasters, recapturing its crown as the world's top-selling automaker and looking to raise its 2012 production and sales forecasts. Read More »

Toyota: Electric RAV4 sets pace for mileage per charge

Toyota says its RAV4 EV SUV powered by batteries and motor from Tesla will go farther on a charge than major competitors' electric models. Read More »

Visteon cuts forecast on slowing auto production

Supplier Visteon reported a slump in sales and cut its earnings forecast for the year, citing lower vehicle production in Europe, South America and China. Read More »

U.S. new car gas mileage unchanged in July

New cars and trucks sold in the United States in July will average 23.6 miles per gallon of gasoline, unchanged from June, researchers at the University of Michigan said Thursday. Read More »

Internal-combustion engine will motor on for years, U.S. study finds

The internal-combustion engine, propelling U.S. automobiles since before the Model T Ford, will remain the dominant power source for cars until at least 2050, according to a study by a panel advising the Energy Department. Read More »

GM's profit falls 41% to $1.49 billion on European losses

General Motors today said net profit fell sharply in the second quarter, as widening losses in Europe partially offset “solid” earnings in North America. Net income for the April-June period dropped 41 percent to $1.49 billion. Revenue dipped 4 percent to $37. Read More »

Akerson: GM's marketing approach not the result of 'one individual'

GM CEO Dan Akerson, referring to the impact of Joel Ewanick's exit, told analysts and reporters today that the automaker's marketing is a group effort, not a one-man operation. He stood by the company's position that no changes are planned in GM's marketing strategies. Read More »

Mazda starts building new Mazda6 mid-sized sedan

Mazda has begun production of the next-generation Mazda6 mid-sized sedan in Japan, and official photos from the launch ceremony show a production version true to the sleek, sculpted lines of the Takeri concept shown at last year’s Tokyo Motor Show. Read More »

AutoNation new vehicle sales rise 14 percent in July

AutoNation said new vehicle sales to retail customers in the United States rose 14 percent in July -- well ahead of the national sales gain of 9 percent. The company said sales in its import segment jumped 26 percent to 11,510 units, while domestic sales rose 5 percent. Read More »

Customer Incentives

This is data compiled by the Automotive News Data Center and requires a Data Center subscription to access. Read More »

Hyundai's Krafcik on capacity constraints

Hyundai is headed for its first annual decline in U.S. market share since 1998. In this segment, John Krafcik addresses the company's production constraints, its game plan and the industry's sales outlook. He was interviewed in July at the Michigan International Speedway. Read More »

New Romney TV spot blasts dealership closures

Mitt Romney's criticism of the government bailout of the auto industry continued Wednesday when his campaign released a 30-second TV commercial in Ohio critical of the Obama administration's decision to force General Motors and Chrysler to close dealerships in 2009. Read More »

GM posts smaller European loss than projected

GM today posted a smaller second-quarter loss in Europe than expected by analysts. The automaker said it could not predict when its operations in the region will return to profit. Analysts say they expect GM to lose between $1.4 billion to $1.6 billion in the region. Read More »

It’s time to call a halt to the race for more in-vehicle screens

The information age has arrived in force in an automotive cabin near you -- and a race is on to see how many electronic screens automakers can jam into their designs. Welcome to your own mobile multiplex. Read More »

Fiat declines to give clues on new investments

Fiat declined to give any details on its future investments because of the economic downturn and slumping car sales in Europe. Read More »

Continental raises forecasts as raw material costs fall

Continental raised forecasts for revenue and profitability this year after a decline in raw-material costs and growth in sales helped second-quarter profit. Read More »

Lear's Q2 profits drop 18% on weak Europe

Lear's second-quarter earnings fell 18 percent because of "challenging" business conditions in Europe, the supplier of seats and electric power management systems said today. Read More »

VW completes purchase of Porsche car business

VW finalized the purchase of the Porsche auto business, ending a seven-year saga that saw VW turn the tables on the maker of the 911 sports car. VW paid Porsche SE 4.49 billion euros and one common share for a 50.1 percent stake in Porsche AG, assuming full ownership of the brand. Read More »

Europe troubles seen putting 500,000 auto jobs at risk

Efforts by PSA and Fiat to end losses in Europe could cost more than 500,000 people their jobs as automakers and parts suppliers grapple with the effects of the European sovereign debt crisis. The region's auto industry is set to pare payrolls as auto demand contracts for the fifth straight year. Read More »