Auto Industry, Automaker | featured news

Ford Motor Co. shareholders are again rejecting a proposal to dilute the Ford family's control over the company. At its annual meeting in Wilmington, Del., Thursday, Ford said 67 percent of shareholders voted against the proposal to make each Ford share worth one vote. Thirty-three percent supported it. That was slightly less support than the same measure received last year.

The head of Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter.

The automaker, which continues to struggle overseas, posted first-quarter net income of $1.6 billion, beating Wall Street expectations.

German carmaker BMW says 2012 was the best year in its history after it posted a rise in profits and record revenues.

This week in Geneva while Ferrari joined the hybrid race with McLaren and Porsche, Lamborghini unveiled its latest prototype, the $3.9 million Veneno. The 750-horsepower car is a one-off model made to coincide with the company’s 50th anniversary. Its multi-million-dollar price tag makes it one of the most expensive cars ever made, putting it in the same echelon as the $2.4 million Bugatti Veyron and the $1 million McLaren F1.

Fiat SpA, the Italian automaker that controls Chrysler LLC, saw fourth quarter earnings more than double thanks to strong North American sales that more than compensated for a weak performance in Europe.

Ford is joining with Diamler and Renault-Nissan to speed the development of cars that run on hydrogen. The three companies expect their alliance to bring affordable hydrogen fuel cell vehicles to market as early as 2017. Fuel cell vehicles run on electricity generated from hydrogen and oxygen. The only byproduct is water.

At Detroit’s annual auto show, the carmaker’s chief executive said he expected the upward sales trend to continue this year, bolstering both Chrysler and its parent, Fiat.

Toyota has once again dethroned General Motors as the world's top-selling automaker. The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it's still counting. GM sold 9.29 million.

An auto industry research firm says an improving economy and a host of new models should push U.S. auto sales above 15 million this year.