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 ...
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...
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...
GM Daewoo Demands Money from the Korean Government
20 Feb 2009, 13:15 UTC · By: Bogdan Popa / GM Daewoo is again calling for financial aid from the state authorities but this time it may really get the money, according to the company's vice president Jay Cooney. According to Autonews, a...
881 Dealerships Across the US Closed in 2008
20 Feb 2009, 09:11 UTC · By: Bogdan Popa / If the struggling automakers weren't enough to convince you about the consequences of the economic recession, you should probably know that no less than 881 dealerships across the United States...
GM Wants Saturn Independent by 2011
20 Feb 2009, 08:24 UTC · By: Bogdan Popa / As part of the broader attempt to return to profitability in two years, General Motors started a massive cost-cutting plan, including closing, discontinuing or selling some of the brands it owns in ...
VW Receives 2 Billion Euro Credit
19 Feb 2009, 19:01 UTC · By: Bogdan Popa / Volkswagen today received 2 billion euros (approximately $2.5 billion) of credit guarantees from the German government. The money are sourced from the German government's bank rescue fund and w...
GM: No Opel Plants to Be Closed for the Time Being
19 Feb 2009, 13:51 UTC · By: Bogdan Popa / American automaker General Motors does not plan to close German production facilities owned by Opel and expects to see most of its European operations returning to profitability by 2011. Juergen...
Buy a Vauxhall Van and Get Five Percent Cashback
19 Feb 2009, 13:17 UTC · By: Bogdan Popa / There’s no wonder that automakers and dealerships around the world roll out astonishing new cars offers during the economic recession but when hearing about a “buy one, get two” ad...
General Motors Puts High-Performance Models on Hold
19 Feb 2009, 08:01 UTC · By: Bogdan Popa / As part of a broader attempt to prove the company’s viability and to concentrate on operations that could bring it back to profitability in the next few years, General Motors yesterday announc...
EIB Gives Automakers 7 Billion Euros
18 Feb 2009, 16:11 UTC · By: Bogdan Popa / The European Investment Bank (EIB) has just approved a 7 billion euros ($8.9 billion) loan package for ailing automakers who are seeking for funds to continue green cars development. According to Re...
Toyota Suspends UK Salaries
18 Feb 2009, 15:54 UTC · By: Bogdan Popa / As part of a broader campaign to cope with the economic downturn, Japanese automaker Toyota today announced it decided to freeze UK salaries, citing the lowering demand as the reason. According to A...
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...
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...
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 ...
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...
BMW Shares Increase on Speculation of Mercedes-Benz Colaboration
17 Feb 2009, 10:04 UTC · By: Madalina Iancu / Although nothing is yet official about a future cooperation between Mercedes-Benz and BMW, the story is already bringing some profit. According to Autonews, BMW shares increased by 2 percent ...
GM Europe to Cut Costs, Fire Thousands
17 Feb 2009, 08:08 UTC · By: Bogdan Popa / Following yesterday's announcement that the American automaker may close the doors of about 3 production facilities in the near future, General Motors today said the restructuring plan might co...
Yamaha Reports Slow Sales in 2008, Expects Worse in 2009
16 Feb 2009, 14:22 UTC · By: Bogdan Popa / Motorcycles had almost the same fate as cars in 2008 which, under the strong pressure of the economic recession, recorded very poor sales no matter what market we are talking about. And things can g...