South Korean Automaker SsangYong Goes Bankrupt, Mahindra Considers Sale
22 Dec 2020, 15:25 UTC · By: Mircea Panait / Desperate times call for desperate measures, and alas, SsangYong filed for bankruptcy protection after 15 straight quarters in the red
Stile Bertone Out of Business
13 Jul 2014, 13:01 UTC · By: Mircea Panait / It's a very sad day for the automotive world when one of Italy's oldest and most revered car design house goes belly up with mountains of debt accumulated over the past few years. Bertone ...
American Suzuki: The Bankrupt Elephant in the Room
11 Nov 2012, 15:41 UTC · By: Mihnea Radu / Because we’re so centered around cars, it’s very hard to get the big picture sometimes: that the auto industry is an important but relatively small cog in the global machine. General Mot...
Melkus Files for Bankruptcy
21 Aug 2012, 09:51 UTC · By: Mihnea Radu / The world is filled with people that think they can do better than Ferrari or Lamborghini. They make a tubular chassis, get a V8 engine from a Corvette and call it a supercar. While we’re not ...
Spyker Needs News Investors
20 Jul 2012, 11:50 UTC · By: Mihnea Radu / It’s yet unclear what sort of financial damage Spyker could take from Saab’s bankruptcy, but their image is very clearly damaged. The company that makes the C8 Aileron and C8 Aileron Spy...
De Tomaso Goes Bust
6 Jul 2012, 13:22 UTC · By: Andrei Nedelea / The Livorno courthouse, on the west coast of Italy, has officially pronounced the famed carmaker De Tomaso, as dead, for the second time in ten years, having previously ‘gone under’ back...
Saab Files for Bankruptcy Protection
7 Sep 2011, 15:41 UTC · By: Mihnea Radu / Saying that Swedish automaker Saab is in bad shape is the biggest understatement in the industry. Even if they solved their financial problems at this point, their image is so badly affected that it...
Bush Advises Obama to Exit Auto Industry
27 Oct 2009, 11:30 UTC · By: Daniel Patrascu / Former US President George W. Bush thought best to advise the Obama administration to exit, as soon as possible the automotive and banking industries by selling the state's stake in the bailed-...
Hertz Sues Analyst for Defamation
29 Sep 2009, 15:10 UTC · By: Daniel Patrascu / Car rental company Hertz announced it filed a suit against Audit Integrity and its CEO, Jack Zwingli, accusing them of defamation. The analyst and his company at one point said Hertz is "most l...
GM Agrees to Product Liability
29 Jun 2009, 10:34 UTC · By: Daniel Patrascu / Bankrupt American manufacturer GM has agreed to assume liability for future product defects in an attempt to speed up their exit from Chapter 11 protection. In addition, GM will also change the term...
Denny Hecker Goes Bankrupt
5 Jun 2009, 08:08 UTC · By: Daniel Patrascu / Following months of struggle with the depleting automotive industry, Minnesota dealer Denny Hecker was forced to file for personal bankruptcy under Chapter 7 yesterday. The filing comes as a result ...
Former Atomic Kitten Star's Porsches Repossessed
9 Mar 2009, 14:38 UTC · By: Madalina Iancu / It seems that Lily Allen is not the only star that has been badly hit by the credit crunch and consequently, has had to sell her BMW. In fact, another celeb seems to feel the effects of the global r...