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GM to open Cadillac plant in China in bid to boost brand's sales

The Canadian PressMay 7, 2013 19:24
DETROIT - General Motors Co. confirms that it's building a new Cadillac factory in China. GM will start building the $1.3 billion plant next month in Shanghai's Jinqiao zone. It will produce 150,000 vehicles per year. The auto maker recently received regulatory approval for the new plant. GM currently makes just one Cadillac — the XTS sedan — in China. Production began in February at a plant in Shanghai. The company won't say which models will be made at the new plant, but has said it plans to introduce one locally made Cadillac each year through 2016.

AP Source: Subaru to expand Indiana plant to add Impreza small car now built in Japan

The Canadian PressMay 7, 2013 19:18
DETROIT - Subaru plans to expand its Indiana factory and add workers to build the Impreza small car there in 2016, a person briefed on the matter says. The person spoke on the condition of anonymity because the announcement is scheduled to be made Wednesday in Japan. Currently the factory in Lafayette, Indiana, employs around 3,600 and builds the Legacy and Outback cars and the Tribeca SUV. It also builds the Camry midsize car under contract with Toyota.

GM's connected car: Brought to you by Allstate?

May 7, 2013 13:46
By Deepa Seetharaman DETROIT (Reuters) - Dan Akerson is pushing General Motors Co <GM.N> to build cars that the U.S. automaker's top executive hopes will attract a target demographic: his grandkids. "I have grandchildren that have only grown up in a world with smartphones," Akerson, a former telecommunications executive, said on a conference call on Thursday to discuss GM's quarterly results.

Tesla CEO amends Model S financing deal after criticism

May 7, 2013 13:22
By Deepa Seetharaman DETROIT (Reuters) - Tesla Motors Inc, the automaker led by billionaire Elon Musk, overhauled financing strategy for the Model S electric sedan in response to criticism that its initial plan last month overstated the potential cost savings. Changes include allowing buyers 72 months, instead of 63, to repay loans, lowering monthly costs by more than one-fourth. Tesla also guaranteed that the resale value of the Model S would top other luxury cars in its segment.

Opel expects cheaper car deals after taking finance in-house

May 7, 2013 13:22
By Edward Taylor RUESSELSHEIM, Germany (Reuters) - General Motors' <GM.N> lossmaking European carmaker Opel expects to boost the proportion of cars sold on financing with the offer of cheaper loans and leasing deals now that it has taken its German banking license back in-house, it said on Monday.

BMW recalls 220,000 vehicles in Takata airbag issue

May 7, 2013 13:10
(Reuters) - BMW <BMWG.DE> is recalling about 220,000 vehicles worldwide from model years 2002 and 2003 as part of a wider recall affecting airbags made by supplier Takata Corp <7312.T>, BMW said on Tuesday. The latest recall includes BMW's popular 3-Series sedans, coupes, convertibles and station wagons.

Toyota to post around $13 billion annual operating profit: Nikkei

May 7, 2013 13:08
TOKYO (Reuters) - Toyota Motor Corp <7203.T> is expected to post operating profit of around 1.3 trillion yen ($13.1 billion) for the year ended March, 3.7 times more than the previous year, the Nikkei business daily reported on Monday. That figure will be 150 billion yen more than the forecast the automaker made in February, the Nikkei, said without citing its sources.

Daimler recalls 3,500 Mercedes Citan vans over faulty airbags

May 7, 2013 13:01
STUTTGART, Germany (Reuters) - German automaker Daimler <DAIGn.DE> is recalling 3,500 Mercedes-Benz Citan vans in Europe because of faulty airbags. A company spokesman said on Monday that window airbags will be replaced in the box-type Citan, which recently scored only three out of five stars in an NCAP crash test survey.

US safety agency watching Ford, Mercury minivans not covered by rust recall

The Canadian PressMay 7, 2013 08:45
DETROIT - U.S. auto safety regulators are monitoring about 100,000 Ford and Mercury minivans that were not covered by a recall issued earlier this year for rust problems. Ford recalled about 230,000 Ford Freestar and Mercury Monterey minivans in March to fix rust in the wheel wells that can cause the third-row seats to come loose. The vans from the 2004 through 2007 model years were sold or registered in 20 cold-weather states and Canada where salt is used on roads in the winter.
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