Volkswagen AG secured enough backing to move forward with a 6.7 billion-euro ($9.2 billion) bid for Scania AB, removing the last major obstacle to a nearly decade- long effort to forge an integrated heavy-trucks unit.
Bayerische Motoren Werke AG, the world’s biggest maker of luxury autos, said first-quarter profit rose 2.6 percent as growth in demand for its sport-utility vehicles helped make up for added investments in expansion.
PSA Peugeot Citroen, Europe’s second-biggest carmaker, said it’s offering stock to investors at 6.77 euros a share after selling stakes to Chinese partner Dongfeng Motor Corp. and the French state to fund a turnaround.
Renault SA, Europe’s third-largest carmaker, said 2013 operating profit jumped 59 percent as low- cost models from the Dacia brand pushed delivery growth and the company lowered costs. The stock rose the most in five weeks.