Thursday morning car news round-up

Thursday - Picture courtesy helpingyouharmonise.com

GM’s global sales rise 4.6 pct in 1st 9 months – Reuters. Nine-month global sales 7.25 million vs. 7.03 million of Volkswagen.

General Motors extends production at Oshawa plant line to 2016 – Reuters. Plant that was due to shut down next summer receives a stay of execution.

Audi sees operating profit margin dropping to 6 pct in 2015 – Reuters. Manager Magazin says Audi expects heavy investments to nearly halve its operating profit margin to 6 percent in 2015.

Russia’s Avtovaz says CEO stepping down – Reuters. New CEO most likely to come from majority shareholder Renault-Nissan. Carlos Ghosn already Chairman. Reuters says that Bo Andersson, former GM exec and now head of bus and truck maker Gaz, might get the job.

Kobe Steel builds $287 mln automotive steel plant in China – Reuters. Joint venture with China’s Angang Steel will make “stronger, lighter and more flexible steel sheets.”

German engineering body sees output returning to growth in 2014 – Reuters. Demand from China and the United States recovers, companies in Europe resume investments.

Indonesia auto sales seen flat in 2014 – Reuters. Industry body cites slower economic growth, higher interest rates and a sharp fall in the rupiah.

Volvo Car wants to make conventional batteries obsolete – Just-auto. Carbon fibers, nano structured batteries and super capacitors, meshed into a composite for door panels, roofs etc. … somewhere, down the road.

American wallets tighten up in government shutdown – Reuters. Will they reopen after the compromise?<

S&P initiates coverage of Tesla with ‘sell’ rating – Reuters. We agree.

Toyota plant in Venezuela to shut for two weeks – Reuters. Caused by shortage of dollars – not on the part of Toyota.

Tennessee VW workers say company coercing them to join UAW – Reuters. Last week, Bernd Osterloh, head of VW’s global works council, said that forming a council was important if the plant wanted a second model in the future.

GM to sell car next year powered by gasoline or natural gas – Reuters. Fracking yeah.

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