$2.5 billion approved for 'clunker' replacements | detnews.com | The Detroit News
-- Transportation Secretary Ray LaHood said today his department has approved $2.5 billion in vouchers to pay car dealers in the "cash for clunkers" program. "Every dealer will be repaid on or before the end of September," LaHood said. Dealers submitted 690,000 applications for reimbursements totaling $2.877 billion before the program closed in late August. About 5,000 government workers and contractors have been processing applications. The number of workers was boosted after dealers complained of slow...

Tougher market expected for U.S. in Europe | detnews.com | The Detroit News
-- Detroit's automakers are occupying less space at this year's Frankfurt Motor Show, and in the European auto market, after shedding brands and assets to get through a global industry downturn that hit them especially hard. General Motors Co. will essentially be fielding one brand in Europe -- Chevrolet -- once it completes the sale of its two European brands, Saab of Sweden and Germany's Adam Opel GmbH, which GM has owned since 1929. Ford Motor Co. is more successful in the region, but it also will be...

New fuel standard rolls in at 34.1 mpg | detnews.com | The Detroit News
-- The Obama administration's proposed standards for fuel efficiency and tailpipe emissions will raise vehicle price tags by more than $1,000, depress sales by 58,000 and cost more than 5,000 auto industry jobs in 2012, a government analysis said Tuesday. But the plan, which sets fuel efficiency standards fleetwide at 34.1 miles per gallon by 2016 and establishes federal tailpipe emission limits for the first time, also has compelling benefits, the administration said. They include a 950 million metric...

2009 Frankfurt Auto Show
The 2009 Frankfurt Auto Show is going to be the largest one this year. It is opening tomorrow, on September, 15. This is not only the major German exhibition, but the largest one worldwide, so all automakers are working for the best presentations at the show. It is obvious than all German manufacturers will present their best models there. Some great debuts will take place tomorrow: the production versions of Audi R8 convertible, BMW 5 Series Gran Turismo, BMW X1, Mercedes-Benz SLS AMG and Mini...

VW showcases range of new models in Frankfurt | detnews.com | The Detroit News
-- In a scene reminiscent of General Motors in its happier days, Volkswagen AG rented out a big hall here to display a slew of new models. They ranged from humble Volkswagens to roaring roadsters, in the most extravagant soiree of the Frankfurt Motor Show. The variety of cars on display "demonstrate that we have not only the widest range of brands but the best, and something for every customer," said Volkswagen Chief Executive Martin Winterkorn. Among the new models was an ultra-clean VW-brand electric...

Autos ready to shine anew | detnews.com | The Detroit News
Last fall, as auto executives gathered for Europe's biggest car show, the industry teetered on the precipice of the worst downturn in 30 years. This week, executives from a recomposed auto industry convene in Frankfurt in a cautiously optimistic mood: "The worst is behind us," said Christoph St�rmer, an analyst at forecasting firm IHS Global Insight. Now, he said, "the feeling is, we've passed it, we've survived it, we're still in business." Still, industry executives and analysts remain apprehensive...

Disclosure sought on 'opt out' for side airbags | detnews.com | The Detroit News
-- The nation's top auto safety regulator will ask automakers to disclose whether they allow fleet customers to opt out of buying side airbags or other safety equipment. Starting in the 2011 model year, the National Highway Traffic Safety Administration "will begin requesting that vehicle manufacturers specifically state whether fleet models have different safety equipment from those sold at dealerships. Any differences will be noted in the ratings information provided," the agency's acting chief, Ron...

Delphi salaried retirees sue to block pension takeover | detnews.com | The Detroit News
-- A group of Delphi Corp. salaried retirees filed suit Monday against the Pension Benefit Guaranty Corp., the government's pension insurer. The 14-page suit, filed in U.S. District Court in Detroit, warns that many salaried retirees will lose a substantial portion of their pensions after the Troy-based auto suppliers terminated its hourly and salaried pension plans and turned them over to the PBGC. Last month, Delphi signed over its pension plans to PBGC, which cleared the way for an immediate takeover...

Behemoths to the fore in Frankfurt as sales window threatens to shut | detnews.com | The Detroit News
-- It will be like going to one of Frank Sinatra's final performances for visitors to the Frankfurt Car Show. They will come away saying we might never see the likes of that again. Children and grandchildren will one day hear barely believable tales of long extinct, gas guzzling 150 mph beasts like Rolls-Royces, Bentleys, Ferraris, Aston Martins, Jaguars and Porsches which were on show at the 2009 Frankfurt Car Show. Anybody could buy them, as long as they had the money. The global car industry is on...

American Axle's stock is on the rise | detnews.com | The Detroit News
American Axle & Manufacturing Holdings Inc., a supplier of axles for General Motors Co. light trucks, rose to its highest mark since September 2008 after a Barclays Capital analyst raised his rating on the shares. Financial results will beat analysts' estimates as early as this quarter as full-size pickup sales recover after the government's "cash for clunkers" incentive program, Barclays Brian Johnson in Chicago said in a report Friday. He boosted his rating to overweight/neutral from equal...