Takanobu Ito Appointed as Honda CEO, Still Director for R&D
24 Feb 2009, 14:08 UTC · By: Madalina Iancu / With the global recession striking companies all over the world, many people are given the sack with no bright perspectives for a future employment, while others are more privileged and succee...
Toyota US to Rely on Hybrids More Than Ever
24 Feb 2009, 08:15 UTC · By: Bogdan Popa / Still under the strong pressure of the economic recession, the world's number one automaker Toyota confirmed today that it plans to rely more on hybrid models in the United States, as collapsin...
Canada Unsatisfied with Chrysler's Viability Plan Details
23 Feb 2009, 16:31 UTC · By: Bogdan Popa / Even though Chrysler initially believed that sending the viability plan to the Canadian government would be enough to receive the money it needs, it is actually not as country's officials recen...
Germany Asks Opel to Submit Viability Plan in Return for Funds
23 Feb 2009, 16:30 UTC · By: Bogdan Popa / Following Opel's call for support last week, German officials came out and explained that it's practically impossible to direct funds to a struggling automaker unless it submits a survival...
Stronger Yen Sends Nissan Running
23 Feb 2009, 16:25 UTC · By: Daniel Patrascu / Nissan Motor has decided to move some of its vehicle production from Japan to Mexico as soon as possible as a result of unfavorable currency exchange rates. The steep appreciation of the yen has had...
Saab Will Get Aid if It Finds a New Owner
23 Feb 2009, 15:07 UTC · By: Daniel Patrascu / The Swedish government is considering offering support to the struggling Saab manufacturer provided that the company finds an investor to back up the loan, Reuters reports. With GM backing away slow...
Dacia Production Boosted by German Scrap Incentive
23 Feb 2009, 13:54 UTC · By: Daniel Patrascu / Thank God (or the banking system) for the economic crisis and smart government incentives. This is what must go through Dacia officials' minds as they see themselves in a position few enjoy to ...
Honda Hybrid Sales Exceed 300,000
23 Feb 2009, 09:35 UTC · By: Bogdan Popa / Still under the strong pressure of the economic recession, companies and slowly migrating to the hybrid sector, an unexplored side of the market which is often regarded as the only chance to survive...
Saturn Asks Dealers 60 Days of Patience
23 Feb 2009, 08:10 UTC · By: Daniel Patrascu / Saturn, the collateral victim of GM's plan for survival, has asked its dealers not to close for 60 days while a GM-Saturn joint task force together with outside consultants determine whether a ...
Weekly Roundup: 16.02.2009 – 20.02.2009
22 Feb 2009, 17:16 UTC · By: Tudor Raiciu / Crisis or no crisis, there have surely been lots of leaks and announcements this week. Naturally, economic doom related reports also abounded, but we’re only going to mention the really import...
GM Sends Life-Saving Plan to Canada
22 Feb 2009, 09:36 UTC · By: Bogdan Popa / GM Canada today announced that it submitted the viability plan to the Canadian and Ontario Governments, with the United States-based automaker expressing its confidence that together with the state ...
Saab and Opel Could Sink Without Aid
22 Feb 2009, 09:15 UTC · By: Daniel Patrascu / GM’s financial problems are, as expected, influencing all its assets, local and foreign alike. This is the case with the US based mother company, the European branch could also face collapse i...
Fiat Chrysler Alliance Could Turn Merger
20 Feb 2009, 16:56 UTC · By: Daniel Patrascu / Republican Tennessee senator Bob Corker believes that the US Government should take under advisement a possible merger between Chrysler and Fiat, as this might be the only way for the American manuf...
Opel Says It Needs 2.6 Billion Euros in Govt. Funds
20 Feb 2009, 16:43 UTC · By: Bogdan Popa / As part of a broader campaign to finance a 3.3 billion euro ($4.15 billion) liquidity gap through 2011, Opel today said it needs approximately 2.6 billion euros from the German government. The rema...
Britain Needs a Scrappage Scheme
20 Feb 2009, 16:39 UTC · By: Madalina Iancu / Apparently, Great Britain must take inspiration from France's and Germany's "scrappage scheme" if they want to get rid of the clunkers in people's yards and boost the automo...
Vehicle Mileage Tax Under Consideration
20 Feb 2009, 15:58 UTC · By: Daniel Patrascu / US Transportation Secretary Ray LaHood wants the government to consider taxing motorists based on miles driven rather than on the amount of gasoline used for the trip, msnbc.com reports. He based hi...
2010 Ford Fiesta Ready for American Trial
20 Feb 2009, 15:48 UTC · By: Bogdan Popa / Just after the economic recession brought Americans closer to European car models and forced them to adopt market strategies used by overseas automakers, the United States is again pushed beyond the...
Brazilian Automotive Market Up 15.5 Percent Over January
20 Feb 2009, 15:31 UTC · By: Daniel Patrascu / Brazilian automotive sales have risen for the second consecutive month, February figures showing a 15.5 percent increase over the last month. But when you are inclined to believe this is a good thin...
Confirmed: Mitsubishi to End Chrysler Raider Deal
20 Feb 2009, 15:11 UTC · By: Bogdan Popa / What was only a rumor one month ago appears to be actually true: Mitsubishi Motors North American will end the agreement with American automaker Chrysler to build a midsize pickup truck for the loca...
Saturn Sends Encouraging Letter to Owners
20 Feb 2009, 14:45 UTC · By: Daniel Patrascu / The viability survival plan GM presented to the US Government on Tuesday contained, as we already reported, a large numbers of measures the company is going to take in order to survive the crisis an...