Goodyear Cuts 5,000 Jobs, Freezes Salaries
18 Feb 2009, 14:09 UTC · By: Daniel Patrascu / Another bad news comes from the US, this time from a tire manufacturer. Goodyear Tire & Rubber Co. has announced it will cut nearly 5,000 jobs and will freeze salaries to the remaining ones. The...
Nissan Demands Financing from the European Investment Bank
18 Feb 2009, 13:11 UTC · By: Bogdan Popa / Just like many other automakers who saw their sales going down and the cost-cutting measures they applied partially inefficient, Nissan today called for support from the European Investment Bank, po...
Honda Insight Gets 10,000 Orders since Launch
18 Feb 2009, 10:29 UTC · By: Daniel Patrascu / The new Honda Insight Hybrid has stirred somewhat of a fuss after its official February 6th showroom launch in Japan. In only ten days, some 10,000 orders have been placed for the new model, more th...
GM's Plan for Europe
18 Feb 2009, 09:26 UTC · By: Daniel Patrascu / GM's need for money does not restrict itself to the US market. The company's European division is waiting to find out the overseas events that will affect its operations. GM‘s Europ...
Michigan Gives Ford $55 Million Incentive for Hybrid Development
18 Feb 2009, 08:07 UTC · By: Bogdan Popa / The Michigan Economic Development Corporation (MEDC) approved $55 million incentives in refundable tax credits for American automaker Ford to continue its efforts in the electrical vehicle developme...
GM, Chrysler Submit Survival Plans
18 Feb 2009, 08:05 UTC · By: Daniel Patrascu / As we reported throughout the past few weeks, both GM and Chrysler were due yesterday to submit their survival plans as they are looking for additional financial aid to get through the economic cris...
European Car Market Shows No Sign of Recovery
17 Feb 2009, 17:25 UTC · By: Daniel Patrascu / Year-on-year sales reports show that Europe's automotive industry followed the trend set by the US crisis driven market and sinked by 26 percent last month. Although not as battered as its Amer...
Skoda Increases Salaries
17 Feb 2009, 17:19 UTC · By: Daniel Patrascu / As the economic crisis keeps on taking its toll on the entire world and more and more people see their jobs cut, slashed, thrown away, Skoda representatives, together with Metalworkers' Federat...
Dealers Offer Massive Discounts for New Cars
17 Feb 2009, 17:12 UTC · By: Madalina Iancu / If you're thinking to buy a new car and spend less money on it, now it's the time to do it. Or at least this is what experts say as many new models are now offered at half price... Acco...
Renault Bets All-In on Electric Vehicles
17 Feb 2009, 16:03 UTC · By: Bogdan Popa / There's no doubt that the economic recession changed the way automakers think. Just look at their product lineup and you'll get it in a second: most companies are now focusing on developin...
Jaguar Land Rover, Employees Close to Settle Cost-Cutting Schedule
17 Feb 2009, 15:52 UTC · By: Bogdan Popa / While being forced by local governments to preserve jobs, some companies search for alternative programs that could reduce costs without slashing workforce. Jaguar Land Rover is surely a good exampl...
GM Will Get $4 Billion Aid...
17 Feb 2009, 15:05 UTC · By: Daniel Patrascu / ...or at least this is what a White House aide said today, as reported by Reuters. The news, or should we say pat on the back, comes only hours away from the deadline set for the company to present ...
Peugeot-Citroen Mourns after Bertrand Peugeot
17 Feb 2009, 14:28 UTC · By: Madalina Iancu / As if the poor sales scored by the French automaker last year weren't already overwhelming for the French automaker, Peugeot-Citroen has now another reason of sadness. Unfortunately, father ...
Sichuan Auto Not Interested in Buying Hummer
17 Feb 2009, 14:10 UTC · By: Bogdan Popa / Following media reports that Sichuan Auto plans to purchase GM's Hummer division, representatives of the Chinese firm denied speculations saying the company has absolutely no interest in buying...
Renault's Powertrain Range to Lower CO2 Emissions
17 Feb 2009, 14:12 UTC · By: Daniel Patrascu / Renault has set its sights on further reducing CO2 emissions by working on the development of low and even zero emissions vehicles. The quest is not only to achieve this objective, but also to do so...
Lamborghini Takes Two Week Break
17 Feb 2009, 13:43 UTC · By: Daniel Patrascu / The decreasing demand for top-end cars will force Lamborghini to stop production for two weeks, between February and March. The measure will affect some 300 workers out of the 1,000 employed by the ...
Audi Top Premium Brand in Western Europe
17 Feb 2009, 13:16 UTC · By: Bogdan Popa / Keeping up the good work you've done in the past years is suddenly an extremely difficult task during economic recession, as the market is almost completely changed from what we've seen ov...
Carmakers Hope to Cut Cost with Fewer Trims
17 Feb 2009, 12:03 UTC · By: Daniel Patrascu / The effects of the economic crisis could be felt for quite some time from now on, as automakers will try to soften the blow by cutting corners wherever possible. Car manufacturers will find it hand...
Brembo Temporarily Cuts 1,800 Jobs
17 Feb 2009, 11:49 UTC · By: Bogdan Popa / While global automakers already received financial support from their domestic governments and are now struggling to revamp sales, parts manufacturers still strive to cope with the recession and tur...
Daimler Aims to Cut Costs by 1.6 Billion Euros
17 Feb 2009, 11:02 UTC · By: Daniel Patrascu / One of the few to have coped well with the crisis until now, Daimler is expected to announce today its financial performance for 2008. Maybe as a result of this, the company plans to cut 1.6 billion...