Autos México

Ford sales rise 24% in Canada to top GM
Ford Motor Co. was the No. 1 selling automaker in Canada in June as it posted a 23.8 percent jump in sales over the same month a year earlier.

Delphi bidder Platinum is denied expense payout
A U.S. bankruptcy judge on Wednesday denied a request from auto supplier Delphi Corp. to pay private equity firm Platinum Equity up to $30 million in expense reimbursements if its bid for the company is topped. At a U.S.

GM's fate now rests in hands of U.S. bankruptcy judge
A federal bankruptcy judge will decide the immediate fate of General Motors' effort to quickly sell its best assets to a group funded by the U.S. government, after a three-day court hearing ended.

Suzuki offers free gas as sales plummet
American Suzuki, battling an industry-worst 78 percent decline in June sales, said it will offer three months of free gasoline on its SX4 compact-car line. The offer does not extend to the Grand Vitara SUV or any other Suzuki model.

Magna board set to approve Opel plans next week, Reuters reports
Magna International Inc.'s board of directors is scheduled to approve on Tuesday a business plan for the acquisition of German carmaker Opel, two sources familiar with the matter said today.

Proliance files for bankruptcy, to sell U.S. assets
Auto parts supplier Proliance International Inc. filed for bankruptcy protection in a Delaware court today and said it agreed to sell all its U.S. assets to Centrum Equities XV LLC for $21.5 million.

Tony George out as Indianapolis Motor Speedway boss
Tony George will no longer have day-to-day responsibility for running his family businesses, including the Indianapolis Motor Speedway. Current Chief Financial Officer Jeffrey Belskus is the new CEO of the Indianapolis Motor Speedway Corp.

Toyota output increase for U.S. market on track
Toyota Motor Corp. is on track to increase production for the U.S. market by about 65,000 vehicles after truck inventories dipped too low and demand showed signs of stabilizing, executives said on Wednesday.

GMAC becomes a corporation, allowing share sales
GMAC said on Wednesday that it has converted to a corporation from a limited liability company, a move that could allow the auto and mortgage lender to sell shares to the public.

Lear announces bankruptcy reorganization plan
Lear Corp. said today it will soon file for Chapter 11 bankruptcy as the seat maker, reliant on the Detroit 3 for nearly 40 percent of sales, succumbed to the worst vehicle sales environment in nearly 30 years.