DETROIT (Reuters) – General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.
Ford Motor Co’s sales last month edged up 0.4 percent, while Toyota Motor Corp’s sales rose about 16 percent.
DETROIT (Reuters) – Sergio Marchionne, chief executive of both Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) and Chrysler Group LLC, said he wants to achieve “unification” of the two automakers by 2015.
“The objective has always been to try and bring unification by 2014 or 2015,” Marchionne said on a conference call on Tuesday. “I’d still like to see that done.”
DETROIT, Oct 30 (Reuters) – Chrysler Group LLC Chief
Executive Sergio Marchionne reaffirmed on Tuesday that the
company is not moving Jeep vehicle production out of the United
States to China after it became an issue in the U.S.
Chrysler in an Oct. 25 blog post had already rejected a
statement made that day to a crowd in Ohio by Republican
presidential candidate Mitt Romney, that Chrysler was thinking
of moving all Jeep production from Ohio to China.
DETROIT, Oct 29 (Reuters) – Chrysler Group LLC posted an 80
percent rise in quarterly net income on Monday on the back of
stronger new vehicle sales, continuing the U.S. automaker’s
comeback from its 2009 bankruptcy.
Chrysler, majority owned by Italy’s Fiat SpA, also
reaffirmed its outlook for the year.
PONTIAC, Michigan (Reuters) – General Motors Co said the redesigned 2014 Chevrolet Corvette that goes on sale next year will get a new 450-horsepower V8 engine.
The engine, designated LT1, displaces 6.2 liters and is the fifth generation of GM’s “small block” V8 engine family.
DETROIT (Reuters) – Engineers and scientists at General Motors Co believe they are making major strides toward lighter vehicles by developing a way to expand the use of magnesium in auto parts.
Making auto parts from magnesium sheets by heating the lightweight metal so it can be formed into precise, rigid shapes will help GM and other automakers meet demanding U.S. fuel economy requirements, said GM metals researcher Jon Carter.
(Reuters) – The union-affiliated healthcare trust that is the minority owner of Chrysler Group LLC will have until November 5 to respond to a suit filed by majority owner Fiat SpA, according to a court filing in Delaware on Wednesday.
The minority owner, a retiree healthcare trust affiliated with the United Auto Workers, and Fiat disagree on the pricing of a 3.32 percent stake in Chrysler to be transferred to Fiat from the healthcare trust.
DETROIT (Reuters) – The production of the Cadillac ELR, the first luxury plug-in hybrid electric vehicle from General Motors Co, is to begin in late 2013 at the same plant that makes the Chevrolet Volt, a top GM official said on Tuesday.
The ELR will be introduced to the U.S. market shortly after the start of production, said Mark Reuss, GM’s North American president, who announced plans for the ELR at an industry conference in Detroit.
DETROIT (Reuters) – The Quadski, a one-person all-terrain vehicle that doubles as a personal water craft, will be on sale in the United States next month for around $40,000.
New Zealand businessman Alan Gibbs, the 73-year-old founder of Gibbs Sports Amphibians, said he hopes the Quadski will be a stepping stone to selling full-size amphibious cars to the masses.
COLUMBUS, Ohio, Oct 8 (Reuters) – Sergio Marchionne, chief
executive of both Fiat SpA and Chrysler Group LLC, will
revise 2-year growth plans for both automakers later this month
to reflect the slump in European auto sales since 2009.
European car sales fell 8.5 percent in August for an 11th
straight monthly decline and several auto executives said last
month that a European rebound was unlikely within two years.