Jaguar Land Rover, the luxury-vehicle division of India’s Tata Motors Ltd., signed an agreement to build a 240 million-pound ($392 million) factory in Brazil with capacity to produce as many as 24,000 cars a year.
Hayman Capital Management LP has taken a stake in General Motors Co., said a person familiar with the matter, indicating further investor confidence in the auto industry’s recovery as the U.S. winds down its ownership role.
General Motors Co. and Chrysler Group LLC gains led November U.S. auto sales that accelerated to the fastest pace in more than five years as dealers stepped up promotion of year-end offers to try to control rising inventory.
Renault SA is readying to resume the export of car parts to Iran pending “clarifications” on the easing of trade sanctions against the country, said Gilles Normand, chairman of the French automaker’s Asia-Pacific region.
PSA Peugeot Citroen hired former Renault SA executive Carlos Tavares to lead the French manufacturer out of a six-year slump in European demand that has sapped the finances of the region’s second-biggest carmaker.