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GM CEO Barra says mergers are a no go

GM CEO Barra says mergers are a no go

General Motors is writing out the possibility of a merger or acquisition, even as the automotive industry is faced with upcoming evolutions that might change its face forever and certain rivals have called for further consolidation. Just last week, merger-guru Fiat Chrysler Automobiles chief executive officer Sergio Marchionne again pointed […]

Europe: British car production up 1.9 percent in March

Europe: British car production up 1.9 percent in March

The United Kingdom is a major European production hub, so its positive results give us a positive indicator of the overall health of the auto industry on the continent. Automotive production in the United Kingdom last month soared 1.9 percent to 144,893 units, also posting the best figure for the […]

US: ex-Hitachi executive pleas guilty, goes to jail for 15 months

US: ex-Hitachi executive pleas guilty, goes to jail for 15 months

The US Department of Justice continues its long running investigation across the automotive industry that searched for monopoly practices and price fixing violations. This time around it was time for a former executive that worked for auto parts producer Hitachi Automotive Systems to acknowledge his wrongdoings, with the person pleading […]

Renault first quarter revenue up 13.7 percent

Renault first quarter revenue up 13.7 percent

The French carmaker Renault SA announced its first quarter revenue has jumped 13.7 percent thanks to the ongoing European market recovery, which compensated for losses elsewhere. The European market upturn, which has been expected for six years after the slump that led to two-decade low sales figures, is finally showing […]

PSA Peugeot Citroen chief executive mulling collaboration expansion with others than Toyota

PSA Peugeot Citroen chief executive mulling collaboration expansion with others than Toyota

According to chief executive officer Carlos Tavares, French automaker PSA Peugeot Citroen – the second largest in Europe – would like to expand beyond its ongoing partnership with Japan’s Toyota Motor, the world’s biggest carmaker. PSA and Toyota have had a successful partnership for years, sharing the cost of design, […]

US: banking regulator cautions subprime auto loan bonds

US: banking regulator cautions subprime auto loan bonds

According to New York’s top banking regulator, the emergence of sales of bonds that rely on subprime auto loans is bringing “a disalignment of incentives” for lenders, adding debt to borrowers already seen at risk. Benjamin Lawsky, superintendent of the Department of Financial Services, commented in front of state senators […]