Mercedes Benz Brings Vehicle Leasing Into China
26 Feb 2009, 16:58 UTC · By: Daniel Patrascu / Mercedes Benz Auto Finance (MBAC) will become the first finance company to offer vehicle leasing on the Chinese market after receiving the approval of the Chinese Banking Regulatory Commission. Star...
Renault Aims to Kill Alpine
26 Feb 2009, 17:49 UTC · By: Bogdan Popa / While some automakers struggle to get through the crisis and call for support from their local governments, French manufacturer Renault is apparently planning to kill the sporty Alpine brand. It see...
GM Reports Net Loss of $16.8bn in 2008
26 Feb 2009, 14:33 UTC · By: Bogdan Popa / General Motors today published the fourth quarter and calendar year 2008 financial results, unveiling a net loss, excluding special items, of $16.8 billion compared to only $279 million the year bef...
Washington: We Will Help Auto Suppliers
26 Feb 2009, 14:20 UTC · By: Madalina Iancu / After they begged at the doors of Washington for quite a while, the Treasury Department is seriously considering to offer government help to struggling auto suppliers. According to the Detroit Ne...
Nissan Cuts Jobs in Spain
26 Feb 2009, 13:25 UTC · By: Daniel Patrascu / The Spanish automotive market, one of the most crisis-damaged market in Europe is to receive yet another blow to both its prestige and its hopes for better times. Nissan has reached an agreement wit...
Automakers Aren't Begging for Money, Says Renault's Ghosn
26 Feb 2009, 13:18 UTC · By: Bogdan Popa / Even if automakers around the world turned to desperate campaigns to convince their domestic governments to approve financial packages for the automotive industry, Renault's CEO Carlos Ghosn sa...
Crisis Causes 54% Production Drop for Nissan
26 Feb 2009, 09:46 UTC · By: Bogdan Popa / Just as we expected, automakers around the world reported very low production and sales figures for January 2009, which emphasized once again that the first month of the year was the toughest 30-day...
Jaguar Welcomes Richard Beattie as Vice President of Marketing
26 Feb 2009, 09:07 UTC · By: Madalina Iancu / Due to the global recession, marketing activities have become less important for many automakers across the world, some of them trying to survive without too much advertising. However, for Jaguar...
Skoda, SEAT to Cut More Costs, Share a Single Office Building
26 Feb 2009, 08:52 UTC · By: Bogdan Popa / The economic recession is still making victims in the automotive industry and, even if most automakers around the world already applied massive cost-cutting plans meant to help them cope with the re...
Saab Stops Production Because of Customs Issues
26 Feb 2009, 08:26 UTC · By: Daniel Patrascu / Saab's sad story continues, as the company finds it more and more difficult with mother company GM's decision to let it go. The company finds itself alone in the dark, as their own governm...
Mercedes Benz Opens Plant in India
25 Feb 2009, 20:16 UTC · By: Daniel Patrascu / Incredible India gets a German precision implant with the opening of the new Mercedes Benz factory in Pune, India. The facility was inaugurated on Tuesday after 13 months of construction work. W...
Volvo Buyer Expected in April
25 Feb 2009, 14:48 UTC · By: Daniel Patrascu / Ford's intention of selling Volvo has stirred a lot of interest in automotive industry... Wait, it didn't... It did, but rumors surrounding the future owner of the company are so blurry n...
Navistar Confirms Interest in GM's Medium Duty Truck Unit
25 Feb 2009, 14:25 UTC · By: Bogdan Popa / Speaking at the Reuters Manufacturing Summit in Chicago, Dan Ustian, Navistar's chairman, chief executive and president, confirmed interest in GM's medium-duty truck unit but insisted the ...
GM and Chrysler Plan Limited Advertising
25 Feb 2009, 14:20 UTC · By: Madalina Iancu / GM and Chrysler have already announced at the beginning of this year that they were drastically cutting their marketing budgets and that they were trying to sell cars without too much advertising. ...
GM Scraps New Volt Engine Plant
25 Feb 2009, 13:09 UTC · By: Daniel Patrascu / General Motors has decided not to build an entire new plant to make engines for the Chevrolet Volt and Chevrolet Cruze and preferred to refit the existing Flint South Engine plant in Michigan instea...
Ford Executives Get Pay Cuts, Board Forgoes Compensation
25 Feb 2009, 10:15 UTC · By: Daniel Patrascu / The crisis knife seems to get closer to the bone of the car manufacturers' financial status. After slashing workforce, reducing production, scrapping models and even turning down hallway air co...
Mitsubishi Smiles Again, Increases Production for One Month
24 Feb 2009, 16:22 UTC · By: Bogdan Popa / After slashing workforce all around the world, cutting production at most facilities, canceling some future projects and postponing expansion into new regions of the world, Mitsubishi finally smiles...
Swedish Government Ready to Give Volvo Guarantee Loan
24 Feb 2009, 16:18 UTC · By: Madalina Iancu / After the stormy financial crisis struck the Swedish automaker and Ford threatened it was searching for someone to buy it, Volvo is finally seeing a ray of hope. According to Autonews, Sweden...
Renault's Revoz Creates New Jobs, Sees Increasing Demand
24 Feb 2009, 15:42 UTC · By: Bogdan Popa / While most automakers around the world struggle to reduce costs and slash workforce at most production facilities, Slovenian car manufacturer Revoz today confirmed that it plans to hire about 150 ne...
GM Europe Employees to Protest Against Restructuring Plans
24 Feb 2009, 15:30 UTC · By: Madalina Iancu / Seeing that they are on the verge of losing their jobs, employees of General Motors' European brands have decided to protest against the car maker's plans of cutting costs. According to...