Honda was the only large automaker whose U.S. sales increased in February, a month when oil prices rose above $100 a barrel and concerns about a recession rattled consumer confidence, according to figures released on Monday.Sales, when adjusted for one more selling day in 2008, fell by at least 10 percent at all three Detroit automakers, whose sport-utility vehicles and pickup trucks have suffered most in the weak economy. General Motors, which was the only top automaker to post an increase in January, reported a 16.3 percent decline in light vehicle sales.

Full Story: IHT

Renault will invest $1 billion for 25% + one share of AvtoVAZ’s shares. Russian Technologies and it will become equal shareholders of AvtoVAZ in the spirit of a long-term partnership.

Via: Automotive Business Review 

Toyota Motor Corp. reported a 2.8% decline in U.S. light vehicle sales, on an unadjusted basis, in February compared with a year ago.

The Japanese automaker’s U.S. sales unit, Toyota Motor Sales, reported sales of 182,169 vehicles, down from 187,330 in the same month last year.

Full Story: Detroit Free Press

Canadian sales of cars and light trucks in February climbed 14.3 per cent from a year ago, according to data compiled by DesRosiers Automotive consultants on Monday, marking a sharp contrast with the slump experienced last month in the United States. Canadian light vehicle sales totalled 110,951 for the month, up from 97,032 in February 2007.

General Motors Corp. sold 14.5 per cent more vehicles in Canada last month than in February, 2007, with 26,309 sales, up from 22,977.

Full Story: Globe and Mail 

Two months into the year, this much is clear: The dreary auto sales market predicted for the first half of 2008 is living down to those lousy expectations.

Dogged by the sour U.S. economy that continues teetering on the brink of a recession, most major automakers posted a sales decline in February.

Overall, U.S. light vehicle sales fell 6.3% in February compared with the same month last year. That follows a 4% decline in January. For the first two months of the year, consumers purchased about 2.2 million cars and trucks — about 126,000 fewer than in 2007.Full Story: Detroit Free Press 

General Motors Corp. announced today that its board of directors has elected Fritz Henderson, vice chairman and chief financial officer, to the positions of president and chief operating officer of the corporation.

In conjunction with Henderson’s appointment by the board, GM also promoted Ray Young, currently group vice president – finance, to the position of vice president and chief financial officer and named Thomas Stephens, currently group vice president of global powertrain and global quality, to the position of executive vice president.

Via: Detroit Free Press 

U.S. automakers expect 2008 sales to be the lowest since 1998. Even Toyota is losing ground with increasingly strapped U.S. consumers.

Car buyers continued to jam on the brakes in February, slowing their pace of new purchases while continuing to shift from big cars and big trucks to smaller, more fuel-efficient vehicles. Even mighty Toyota Motor (TM) is feeling the pinch.

Overall, U.S. light-vehicle sales fell to 1,176,236 in February. That was 6.3% below the year-ago month. Year to date, industry sales were off 5.4%, to 2,220,183, according to AutoData in Woodcliff Lake, N.J.

Full Story: Business Week 

Porsche, the sports-car maker with annual revenues of €7bn ($10.6bn), will soon control a €150bn car and trucks empire that would be Europe’s largest and include brands from Volkswagen and Audi to Bentley, Lamborghini and Scania.

Porsche on Monday received the go-ahead from an emergency meeting of its supervisory board to increase its stake in Volkswagen from 31 to more than 50 per cent.

Hours earlier, VW, Europe’s largest carmaker, agreed to buy more than two-thirds of Sweden’s Scania in addition to its controlling stake in Germany’s MAN, making the continent’s biggest truckmaker.

Full Story: Financial Times 

Few companies can make a 518-horsepower V-8-powered roadster look inadequate like Mercedes-Benz can. Joining the SL550, SL600, and 604-horsepower V-12 SL65 AMG for the 2009 model year is the SL63 AMG.

While the SL65 AMG’s ridiculous 738 lb-ft of torque is handled by a modified five-speed automatic, the 2009 SL63 AMG bows with Mercedes-Benz’s MCT transmission. The seven-speed transmission, exclusive to the SL63 AMG, has four shift modes: Comfort, Sport, Sport plus, and Manual. Mercedes says that shifting times in Manual mode — at 100 milliseconds a shift — are a significant 50 percent quicker than in Comfort mode. A new start-up clutch that runs in an oil bath takes the place of a conventional torque converter, improving the transmission’s responsiveness.

Via: Motor Trend

Fiat’s new 1.6 MultiJet 16v unit, announced just last week, makes the Bravo which will feature it the first car in its category to be fitted with a Euro 5-compliant engine, well ahead of the 2009 deadline.

The new Bravo 1.6 MultiJet is available with a special eco-package in 105 bhp form. In addition to revised engine ECU settings, this ‘Eco’ pack employs special measures to optimise aerodynamics, and incorporates low rolling resistance tyres and ‘taller’ gear ratios to return some outstanding fuel consumption and CO2 figures: 62.7 mpg in the combined cycle (an increase of some 5 mpg on the standard 105 bhp 1.6 MultiJet) and CO2 emissions of 119 g/km.

Via: Auto Industry