Headlines for Thursday, August 9, 2012

Toyota wants car sales of 1 million, profit in Europe

From 2005 to 2007, Toyota consistently sold more than 1 million cars a year in the 56-countries that make up its European market. The problem is that it wasn't making any money. Read More »

AutoNews Now: Big games, mini Mini

Tiny BMWs catch attention at Olympics; GM's Boler-Davis keeps eye on customers and quality; plus, rides for the rich. Read More »

First Shift: Drawing buyers to Dart

Chrysler interior design chief on seeing the 'big picture,' Ford tech woes may harm new Fusion, Jeep Liberty winding down. Read More »

Why the governors’ plan is good for taxpayers, automakers

When the leaders of Illinois, Michigan, Missouri, and Tennessee appeared at the 2012 Management Briefing Seminars here on Wednesday to say that they were forming the bi-partisan National Governors Auto Caucus, there was reason to hope this might be something more than political grandstanding. Read More »

Customer Incentives

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Leoni, wire harness makers probed by EU in antitrust case

Leoni AG and other makers of automotive wire harnesses are being probed by the European Union for possible collusion in multiple cartels, echoing a similar investigation in the United States. Read More »

Mitsubishi recalls some EVs in U.S., Canada to repair air bag

Mitsubishi is recalling a small number of its all-electric cars in the United States due to the possibility that the front and side air bag systems may be deactivated. Read More »

Magna posts 24% rise in profit, takes control of E-Car

Magna International reported a 24-percent jump in quarterly profit on Thursday and said it was buying the controlling, minority stake in its electric car business. The company's second-quarter earnings rose to $349 million compared with profit of $282 million in the same period last year. Read More »

A123 deal with Wanxiang raises security concerns, lawmaker says

A Florida lawmaker opposed the potential sale of control in A123 Systems, the maker of automotive rechargeable batteries, to a Chinese company, citing national security concerns. Read More »

A123 says funding from China's Wanxiang will preserve U.S. jobs

A123 Systems' CEO said the company's financial rescue by China's largest auto-parts maker will preserve U.S. jobs, after the agreement drew criticism from a member of Congress. Read More »

Porsche preps a Panamera wagon concept for Paris

Porsche will preview plans for a Panamera-based wagon concept in September at the Paris motor show. It is set to provide telling clues for the direction of a production version that could arrive in several years. Read More »

BMW gets brand into Olympic stadium with Mini Minis

BMW, one of the official sponsors of the London 2012 Olympics, has gotten its brand into the Olympic stadium -- which is supposed to be free of all commercial activity -- via a fleet of cute Mini Minis. Read More »

Leoni, wire harness makers probed by EU in antitrust case

Leoni AG and other makers of automotive wire harnesses are being probed by the European Union for possible collusion in multiple cartels, echoing a similar investigation in the United States. Read More »

Akerson buys about $500,000 of GM stock

Days after vowing to be “relentless” in getting GM back on track, CEO Dan Akerson is putting his money where his mouth is. On Wednesday, Akerson bought 25,000 GM shares at a price of $20.35 a share, or about $500,000 worth, according to a regulatory filing posted today. Read More »

Toyota's Jim Lentz: 'Better years are still ahead'

U.S. sales boss Jim Lentz credits CEO Akio Toyoda with spurring the automaker's rebound by driving emotion into Toyota vehicles. And while the nightmares of recession, recalls and earthquakes may be behind, Lentz says he still has reasons to fret. Read More »

Spyker hires ex-Aston Martin U.S. boss

Spyker, the Dutch supercar maker and former owner of Saab, has appointed the ex-head of Aston Martin in the United States as its chief commercial officer and head of its Americas unit. John Walton, 53, will report to Spyker CEO Victor Muller. Read More »

Renault plans for Africa auto boom to escape Europe slump

Renault is building the continent's biggest assembly plant in a bet that buyers there are poised to shift away from public transport and used cars. Read More »

TRW, Honeywell, TI Automotive contribute to new Mini Coupe's brake system

TRW, Honeywell and TI Automotive play key roles in the new Mini Coupe's braking system. The brake lines are supplied by TI Automotive while Honeywell provides the brake pads for the rear axle for European models and front and rear axles for the U.S. models. Read More »

Russia sales up 14% in best ever July

Russian light vehicle sales grew 14 percent year-on-year in July to 255,560 units, which was a record for the month, the Association of European Businesses said. Read More »

Toyota prods lagging suppliers to boost output

As Toyota prepares for record North American vehicle production in each of the next two years, the company is intensifying its scrutiny of suppliers that are struggling to keep up. Read More »

Tata profit misses estimates on slowing JLR sales

Tata Motors, the owner of Jaguar Land Rover, reported profit that missed analysts' estimates as demand for its luxury vehicles slowed in the second quarter. Read More »

Toyota plans $495 million engine factory in Brazil expansion

Toyota says it plans to invest about 1 billion reais ($495 million) in a Brazilian engine plant in Sao Paulo to cater to increasing demand in the world's fourth-biggest auto market. Read More »

Toyota considers moving some Lexus production to U.S.

Toyota is considering moving some production of its Lexus luxury brand to the United States because of the strength of the Japanese yen, the automaker's top sales executive in the country said. Read More »

Porsche must face New York suit by hedge funds over VW shares, judge rules

Porsche SE must face a lawsuit claiming it hid its plan to corner the market in Volkswagen shares, a state judge in New York ruled, rejecting the sports-car maker's bid to dismiss the case. Read More »