Auto briefs

GM shares close at $12.85; up 12 percent

General Motors Corp. shares rallied for a third consecutive session Thursday, closing up 12 percent at $12.85. The stock, which sank to historic lows in early July on fears that the automaker might be facing a risk of bankruptcy, has rebounded 37 percent since GM’s management outlined measures Tuesday aimed at bolstering liquidity. Included in the ranks of GM stock buyers were the 20 members of GM’s national dealer council, who bought about 107,000 GM shares, or more than $1 million worth of stock, to express their support the company.

Johnson Controls posts 11% increase in profits

MILWAUKEE — Johnson Controls Inc ., which makes building and automotive systems, said Thursday its fiscal third-quarter profit rose 11 percent on a jump in sales at its building efficiency division. But the Milwaukee-based company also issued a profit outlook below Wall Street predictions, blaming the effects of an acquisition and higher commodity costs. For the quarter ended June 30, Johnson Controls earned $439 million, or 73 cents per share, compared with $396 million, or 66 cents per share, for the same quarter last year.

Chevrolet minivans being exported to Peru

BEIJING — General Motors Corp. said Thursday one of its Chinese joint ventures has begun exporting Chevrolet minivans to Peru, adding to global automakers’ small but growing vehicle exports from China. The Chevrolet N200 minivans are made by SAIC-GM-Wuling and will be sold through Chevrolet’s dealer network in Peru, GM said. A handful of global automakers export vehicles from China. Most production in the country is aimed at the fast-growing Chinese market.

Ford gets $49M from Brazil for engineering

Ford Motor Co . received a 78 million-reais ($49 million) loan from Brazil’s development bank to improve engineering processes at its plant in Camacari, in northeastern Brazil. Brazil’s National Development Bank plans to lend 1 billion reais to the auto industry by the end of 2008, according to an e-mailed statement today. Dearborn, Michigan-based Ford has three plants in Brazil.

Volkswagen may build Audis at U.S. plant

Volkswagen AG , expanding to increase U.S. sales, will decide by next year whether to build some Audi luxury vehicles at a new U.S. plant or elsewhere in North America, its regional chief said. "One alternative is to be an add-on at the new Chattanooga facility," said Stefan Jacoby, chief executive officer of Volkswagen Group of America Inc. "They also could go to Mexico."

Detroit News staff, wire and Bloomberg News reports.