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NADA asks U.S. to suspend clunkers program

National Automobile Dealers Association officials asked the government to suspend the cash-for-clunkers program because a survey by the group found that the $3 billion fund has been exhausted, NADA Chairman John McEleney said. "We asked them to put a halt to the program--I think we said 'very soon'--but a suspension at midnight tonight would make sense," McEleney said in an interview Wednesday. "Our survey opened the eyes of the Transportation Department." A suspension would allow dealers to submit all pending claims and permit the government to process them so that a precise determination could be made of how much money, if any, is left in the program, he said.

Sergio Marchionne warns of strife ahead in Europe

Fiat chief exec Sergio Marchionne today warned of troubled waters ahead as Europe's car makers prepare for a radical restructuring. Marchionne, who's the current president of trade body ACEA, said factory closures were looming and repeated his call for a concerted EU-wide response to overcapacity. He warned that national interest was blocking action to strip out excess capacity, caused after European new car demand crashed by 3 million in the past five years.

Is Stefan Sielaff about to jump ship from Audi to head BMW interior design?

Here at CDN we hear plenty of gossip, much of which ends up as hot air and hardly any of which we publish. But when the source of a potential story is as reliable as Georg Kacher – a giant (physically and metaphorically) of a journalist with uncannily strong connections to those within the Germany industry – there's good cause to pay attention. His 'predictions' rarely fail to materialize.