NADA Headlines - 03/07/2017 (Plain Text Version)
General Motors is selling its two major European brands to French automaker PSA Group and pulling back from the world’s third-largest auto market, where the company has struggled to turn a profit for nearly two decades. GM’s Opel and Vauxhall brands, as well as the European arm of its financial division, were valued at about $2.3 billion in the transaction. If the deal clears regulators, it is expected to close by the end of the year, the companies said.
Fiat Chrysler CEO Sergio Marchionne said he could approach GM again regarding a potential merger, adding a rationale for a tie-up still existed even after the U.S. rival decided to sell its European operations to PSA Group. Marchionne has long advocated more tie-ups in the industry to share the prohibitive costs of making cleaner and more technologically advanced vehicles, but his bid to merge with GM was repeatedly rebuffed.
FTC video provides advice to businesses on what to do if impersonated in a phishing scam
Jaguar Land Rover CEO Ralf Speth talks about the automaker’s outlook for key markets such as emerging markets and the U.S.
Honda Motor Co Ltd said on Monday it had invested nearly $150 million in two U.S. plants for making 10-speed automatic transmission for front-wheel-drive vehicles. The investment includes $100 million for a new assembly line and production modifications at Honda Precision Parts of Georgia LLC in Tallapoosa, Georgia, the Japanese automaker said. The company will invest $49 million in Honda Transmission Mfg. of America Inc in Russells Point, Ohio to provide new equipment and increased production capacity, Honda said.
From Mercedes-Benz’s latest E-Class convertible to a head-turning, smaller version of the Range Rover, get ready for firsts, lasts and surprises at the Geneva auto show this week. Located just outside downtown Geneva, the show attracts a dizzying array of vehicles, from supercars for the super-rich to bizarre projects by boutique car designers to high-volume vehicles for the masses.