Sergio Marchionne sees cooperation with the UAW as a key to a future merger with General Motors. In the deal, Marchionne could potentially take advantage of the 8.7 percent of GM stock that's owned by the union's health care trust.
Ferrari has filed the necessary paperwork with the Securities and Exchange Commission to launch the company's IPO later in the year. The documents don't set a specific timeframe for the offering or price for the shares.
The consortium of German automakers hoping to buy Nokia's Here mapping division may have won with a bid for the equivalent of about $2.7 billion. The official details of the purchase haven't been made public, and some insiders claim the negotiations aren't done yet.
The June auto market slump in China could continue through the next few months. Some analysts are worried that the shift could damage the financials of GM and Ford, according to an interesting article from The Detroit News.
Automotive component supplier Magna International has signed an agreement to take over the Getrag Group, one of the biggest transmission manufacturers, by the end of the year, in a deal worth nearly $2 billion.
The plant that produces GM's full-size SUVs in Arlington, TX, is set to receive $1.4 billion, representing the largest allocation out of the $5.4 billion the company has earmarked towards upgrading its facilities.