Automotive News - Automaker News Feeds

• Daimler cuts earnings outlook, shares plunge
  Thu, 24 Jul 2008 07:15:00 EST
  Daimler AG cut its 2008 earnings outlook today, saying it would not be able to offset a global growth slowdown, rising raw material prices and the strong euro by selling more vehicles and cutting costs.

• Agreement reached for FCC to clear XM-Sirius deal
  Thu, 24 Jul 2008 11:00:00 EST
  Regulators reached an agreement to conditionally approve Sirius Satellite Radio Inc.'s purchase of XM Satellite Radio Holdings Inc. as the companies said they would pay millions of dollars to settle allegations of past rule violations.

• Welcome back, Mr. Streiff
  Thu, 24 Jul 2008 10:52:00 EST
  PSA/Peugeot-Citroen CEO Christian Streiff was all smiles as he presented the French carmaker's first-half results Wednesday afternoon.

• Ford to revamp lineup after $8.7 billion Q2 loss
  Thu, 24 Jul 2008 07:08:00 EST
  Ford Motor Co. said today its operations lost $1.38 billion in the second quarter as high gasoline prices drove consumers away from its big trucks. The company earned $258 million during the same quarter of 2007.

• Fiat Auto will have trouble hitting its 2008 target
  Thu, 24 Jul 2008 10:08:00 EST
  Can Fiat still meet its ambitious financial targets? That's the question on many people's minds following the release Wednesday of strong second-quarter results.

• Source: Conti to enter talks with Schaeffler without price target
  Thu, 24 Jul 2008 10:26:00 EST
  Continental will enter talks with Schaeffler Group on a higher bid without a price target, a source familiar with the matter told Thomson Financial News partner dpa-AFX. On Monday bearings-maker Schaeffler offered 70.

• Report: Conti to enter talks with Schaeffler without price target
  Thu, 24 Jul 2008 09:16:00 EST
  Continental AG will enter talks with Schaeffler Group on a higher bid without a price target, a source familiar with the matter told Thomson Financial News partner dpa-AFX.

• GM Daewoo starts production after tire price dispute
  Thu, 24 Jul 2008 10:03:00 EST
  Production at GM Daewoo Auto and Technology's main Bupyeong plant in South Korea resumed Tuesday, July 22, after a price dispute with tire suppliers halted lines there. Korean tire makers Kumho Tires Co. Inc. and Hankook Tire Co. Ltd.

• Hyundai Q2 misses forecast, outlook tough
  Thu, 24 Jul 2008 04:45:00 EST
  Hyundai Motor Co., South Korea's top automaker, posted a surprise fall in quarterly earnings on Thursday as a weaker won increased its debt load and it had to pay more for steel and other raw materials. The world's No.

• China's Zhongxing in talks with GM, FAW
  Thu, 24 Jul 2008 08:00:00 EST
  Chinese pickup truck maker Hebei Zhongxing Automobile Co.