GENERAL MOTORS

Rumors of factory closings swirl around General Motors Co.'s German subsidy Opel, even as the company leads the way in sales of its electric Ampera, the European version of the Chevy Volt.

General Motors Co. will invest more than $1 billion into its Australian subsidy Holden Ltd. for manufacturing and next-generation development with the support of a hotly debated 275 million AUD, $285 million, subsidy from the Australian government.

Volkswagen AG said Thursday it will create 800 more jobs at its only U.S. plant to ramp up production of the Passat sedan. Meanwhile, the United Auto Workers has launched a drive to unionize workers at the plant.

Labor leaders at Opel, General Motors' loss-making European unit, on Friday urged management to return to the negotiating table and thrash out a compromise before a board meeting next week that could otherwise result in a move to close two vehicle plants.

Major car manufacturers will raise prices across the board in India following a budget announcement by Finance Minister Pranab Mukherjee on Friday, Indian newspaper The Hindu reported.

India will surpass Japan as the No. 2 vehicle market in Asia by 2016, according to a report in the Wall Street Journal based on data and research from IHS Automotive. The report also says that auto sales in China, Asia and the world's largest market, will continue to grow steadily through the rest of the decade.

Mexico's auto industry produced 24 percent more cars and light trucks in February compared with the year-ago period, reaching a record high.

Sales at U.S. retailers jumped in February by the most in five months, showing broad-based gains from autos to building materials, underscoring yet another hopeful sign of a strengthening economy.

Two new Chinese LCD screens in Beijing's imposing Great Hall of the People will replace screens made by a Japanese competitor, in a sign of resolve to supply the world with Chinese brands and not just Made in China products.

Auto parts maker Visteon Corp. said Monday that it will sell its automotive lighting business to the India-based Varroc Group for $92 million in cash, a deal the company expects to close in the third quarter of 2012.

U.S. employers hired more than 200,000 workers for a third straight month in February, indicating that companies are feeling more upbeat about the recovery.

Stock index futures edged lower on Friday after their strongest two-day gain in nearly three months and ahead of a report likely to show employment grew solidly for a third straight month.

Facebook Inc added several women- and minority-owned investment banks to the roster of underwriters for its initial public offering, following in the footsteps of General Motors Co and Goldman Sachs Group Inc, which did the same during their own offerings.

General Motors Co chief executive Dan Akerson said it may be two years before its European division is back in profit as the continent sheds over-capacity the same way the U.S. industry had to over the past half decade.

Employers probably hired more than 200,000 workers for a third straight month in February, indicating that companies are feeling more upbeat about the U.S. economic recovery, economists said before a report this week.

A little more than a year ago, Karl Brauer stood on stage at the 2010 Detroit Auto Show and introduced the 2011 North American Car of the Year: the Chevrolet Volt.

Fiat SpA is searching for an Asian partner following the solidification of an alliance between General Motors Co. and PSA Peugeot Citroën, Bloomberg reports.

Just as the assembly lines making them prepared for a five-week shutdown due to slack demand, General Motors Co's Chevrolet Volt and Ampera plug-in electric hybrid cars were named European Car of the Year at the Geneva Auto Show.

General Motors Co. saw a 30.4 percent year-over-year jump in sales of passenger cars in China in February, a record-setting month for the United States automaker. Sales rose primarily due to the absence of the Lunar New Year holiday, which fell at the beginning of the month last year.

French auto manufacturer PSA Peugeot Citroën SA will sell shares at a 42 percent discount as part of a €1 billion ($1.32 billion) capital increase the company is seeking, as it confirms an alliance with U.S. automaker General Motors Co, reports say.

Wall Street was set to open lower on Tuesday on renewed concerns that Greece and private bondholders may not meet a looming deadline to complete a debt swap and as caution grew over the global economic outlook after recent weak data.