Archive | Auto Industry News

New Year Brings Continued Performance Pressure for Auto ABS

NEW YORK — Annualized net losses (ANL) on U.S. auto ABS rose again in November in a trend likely to continue into 2010, according to Fitch Ratings. Elevated loss frequency will also pressure U.S. auto loan ABS performance in the coming year. Another likely driver ... Read More » Tags: , ,

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Audi Plans $10.5B in Investments through 2012

FRANKFURT - Audi AG said it plans to spend 7.3 billion euros ($10.51 billion) on plant upgrades, new products and technology research as it moves to expand its number of customers worldwide and increase market share, reported The Associated Press. Audi, based in Ingolstadt, Germany, ... Read More » Tags:

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Volkswagen to Add Eight Audi Models to Challenge BMW

Volkswagen AG’s Audi brand aims to add eight models by 2015, challenging BMW AG as the world’s largest maker of luxury cars, reported Bloomberg.com. Audi will invest 7.3 billion euros ($10.5 billion) on new models and plant upgrades through 2012, the Ingolstadt, Germany-based automaker said ... Read More » Tags: , ,

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GM CFO to get $750,000 Salary, Plus Stock

DETROIT - The new chief financial officer at General Motors Co. will receive a salary of $750,000 next year, but he'll get up to another $5.45 million worth of stock starting in 2012 if GM successfully sells shares to the public, reported The Associated Press. ... Read More » Tags:

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J.D. Power: December Total Sales to Increase 7%

December new-vehicle retail sales are expected to increase substantially compared with one year ago, indicating the continuation of the industry’s recovery, according to J.D. Power and Associates. December new-vehicle retail sales are expected to come in at 839,600 units, which represent a seasonally adjusted annualized ... Read More » Tags: ,

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GM Pulls From Microsoft to Fill CFO Vacancy

DETROIT – General Motors has announced that Chris Liddell was appointed as the company’s vice chairman and chief financial officer. Liddell was most recently CFO for Microsoft Corp., a post he held since May 2005. "Chris brings a depth and experience to this job that ... Read More » Tags: ,

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