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Ford's net profit slips to $1.65 billion for the third quarter

Ford Motor Co., hurt by accounting changes related to commodity prices, said third-quarter net profits fell slightly to $1.65 billion from $1.69 billion a year earlier. Pretax profits fell to $1.94 billion from $2.06 billion a year earlier. North American pretax operating profits were essentially flat from the year-earlier period at $1.6 billion.

Changan opens new European Designing Center in Turin

Changan celebrated the opening of its European Designing Center in Turin, Italy, last week as part of its celebration of the historic company's 150th anniversary. An audience of VIP guests and press were given grand tour of the new facility located in Rivoli near Turin after an opening ceremony filled with the pomp and pageantry we've come to expect from the Chinese car industry. The new 11,000 square meter European Designing Center is Changan's latest move to grow its business globally, having already established research and development centers at five Chinese locations as well as in Detroit USA, Nottingham UK, and Yokohama Japan.

Fiat makes bid to buy Opel

The proposed partnership between Fiat and Chrysler has been thrown into a tailspin with revelations that the Italian carmaker has made a secret offer to purchase a majority stake in Opel. Klaus Franz, chairman of Opel's works council, on Thursday confirmed Fiat's interest in a takeover of General Motors' European subsidiary, suggesting that officials have cleared the way for the signing of a letter of intent as early as April 28. Opel has been in talks with parts supplier Magna International on a possible partnership over the past month.