General Motors acknowledged on Monday that more people died in crashes linked to its faulty ignitions than the 13 it originally reported, saying 19 death claims were approved for compensation.
Monthly Archives: September 2014
European automakers reduce company-owned dealerships
Volkswagen Group has Europe’s biggest company-owned dealership network even as the automaker and its rivals attempt to reduce the number of their wholly owned retail outlets.
VW owns 564 dealerships across Europe, 214 more than Emil Frey, which has the largest number of franchise points among independent dealer groups, according to data from UK-based auto retail analyst ICDP.
Audi Wins First Formula E Race: Beijing
By Shirley Li
Beijing hosted the world’s first ever Formula E (electric motor car) race Saturday, featuring 10 teams of two drivers each weaving through a circuit around the city’s Olympic Park.
Tesla shares Tumble After Analyst Raises Cautions About Growth
By Keith Naughton
One of Tesla’s strongest supporters on Wall Street issued a cautious report on the maker of luxury electric cars today, sending its shares skidding 9.1 percent.
ZF to purchase TRW for $105.60 a share
German partsmaker ZF Friedrichshafen has reached a deal to buy U.S.-based TRW Automotive Holdings for $105.60 a share, completing a supply chain megadeal that has been in the works since mid-July.The transaction will create the world’s second-largest auto supplier with pro forma combined revenue of about €30 billion ($41 billion) and 138,000 employees, ZF and TRW said in separate statements.
