DAILY: May volume rises 26%; sales pace hits 13.8M | Mercedes adds to U.S. luxury sales lead over BMW with 19% gain | GM offers pension buyout to salaried workers

DAILY NEWSLETTER June 1, 2012

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MAY U.S. AUTO SALES May volume rises 26%; sales pace hits 13.8M Toyota, Honda soar in comeback; Chrysler extends gains U.S. light vehicle sales -- helped by a surge at Toyota and Honda, and more healthy gains at Chrysler -- climbed 26 percent to 1.33 million last month compared with a weak May 2011. ... >> story  Published: Jun 1 8:15 am U.S. Eastern time / UPDATED: 6/1/12 4:02 pm ET Mercedes adds to U.S. luxury sales lead over BMW with 19% gain Daimler AG’s Mercedes-Benz held onto the United States luxury-vehicle sales lead for the year over BMW's namesake brand, as Mercedes deliveries in May jumped 19 percent. ... >> story  Published: Jun 1 3:57 pm U.S. Eastern time GM offers pension buyout to salaried workers Move could reduce U.S. pension liability by $26 billion General Motors said today that it will offer a lump-sum pension buyout to one-third of its retirees in the United States and shift the remaining retirees to a group annuity run by an outside administrator. ... >> story  Published: Jun 1 2:36 pm U.S. Eastern time Follow Automotive News

... Auto stocks hammered as Dow drops 275 points ... GM losses mitigated by pension buyout news ... Oil prices drop another 4% ... Price Daily change 52-week high / low General Motors 21.99 -0.97% 32.08 / 19.00 Ford 10.12 -4.17% 14.90 / 9.05 Top Performers Price Daily change 52-week high / low Visteon 39.62 -0.95% 70.48 / 38.32 General Motors 21.99 -0.97% 32.08 / 19.00 Toyota* 74.88 -2.61% 87.15 / 60.37 AutoNation 35.01 -2.80% 41.55 / 30.46 CarMax 27.32 -3.15% 35.17 / 22.77 Bottom Performers Price Daily change 52-week high / low Tower International 11.43 -9.72% 18.33 / 9.45 Group 1 48.07 -8.19% 59.97 / 33.31 Lithia 22.55 -7.66% 27.99 / 13.57 Continental AG* 80.25 -7.39% 110.24 / 52.75 Asbury 24.77 -7.33% 29.62 / 14.96 » Check the latest automotive stock listings

Subscribe to Automotive News today! You are receiving the free registrant version of our newsletter. If you would like a more comprehensive version, purchase a subscription to Automotive News. If you are already a subscriber, please contact subs@crain.com to get the full version of our newsletter.  MORE HEADLINES Mazda to cut 250 jobs in U.S., Europe, report says   Car dealers seek break from handing out insurance book   Blue Oval gets star turn in Facebook ad blitz   VW's China chief may quit after management overhaul, reports say   U.S. court rejects settlement in defective VW-Audi sunroof case   China's Youngman makes new bid for Saab, report says   Ohio bans texting while driving   GM expects to close one Oshawa plant assembly line in 2013   Summit Automotive names co-founder and COO Bill Carmichael to CEO post     Sergio Marchionne's remarkable eight-year run LARRY P. VELLEQUETTE: Eight years ago today, Giuseppe Morchio, CEO of Italian automaker Fiat S.p.A. resigned, four days after the death of Fiat chairman and family patriarch Umberto Agnelli. In Morchio's place as CEO, Fiat's board installed a 51-year-old accountant and lawyer, who was CEO of Geneva-based SGS S.A. His name: Sergio Marchionne. ...  Read the blog  Published: Jun 1 11:55 am U.S. Eastern time

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