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Saab extends production halt due to lack of parts

Saab has extended its production stoppage to the end of August or beyond as it struggles to secure the necessary parts from suppliers. Parent Swedish Automobile said today that delivery of all the required parts had yet to be agreed.

Mercedes to invest more than $2 billion in Alabama plant

Daimler said today it would invest more than $2 billion in its car plant in Tuscaloosa, Ala., to build more M-Class SUVs. The German maker of Mercedes-Benz cars did not say over what period it would invest the money.

U.S. auto sales rate improving in July but still trails Jan.-April levels, J.D. Power says

U.S. new-car sales have been improving in July compared with the previous two months but remain below the rate seen earlier in the year, research firm J.D. Power and Associates said today.

Penske posts Q2 net profit of $39.6 million, beats expectations

Auto dealership group Penske Automotive Group posted a stronger-than-expected quarterly profit today as rising used-car sales and stronger profit margins offset a decline in demand for new vehicles. Net income in the second quarter rose to $39.

Tesla wins $100 million supply deal with Toyota for RAV4 EV

Tesla Motors, the maker of electric Roadster sports cars, said it reached an agreement with Toyota to supply powertrain equipment worth about $100 million.

Nissan to make Leaf electric motor in Tennessee

Nissan plans to produce the electric motor for its all-electric Nissan Leaf car at its powertrain plant in Decherd, Tenn., starting in early 2013, the company said today.

Toyota can appeal part of speed-up suit ruling, judge says

Toyota won the right to appeal a federal judge's ruling that car owners who hadn't experienced unintended acceleration could sue the company over economic losses related to the alleged defect. U.S. District Judge James Selna in Santa Ana, Calif.

Ford recalls 20,000 small pickups for light issue

Ford Motor Co is recalling more than 20,000 Ranger compact pickup trucks and parts for other vehicles to fix a possible exterior lighting problem, according to safety regulators.

Johnson Controls profit tops estimates

Johnson Controls reported a stronger-than-expected quarterly profit due to a fast recovery from the impact of the Japan earthquake in March and higher auto production levels in some markets.

Honda cuts 2011 China car sales target by 13%

Honda said today it was cutting its 2011 car sales target for China by 13 percent after Japan's earthquake and tsunami in March disrupted its supply chain and forced production cutbacks.