Honda Workers Agree with 3% Pay Cut
18 May 2009, 12:24 UTC · By: Bogdan Popa / Honda is still struggling to tackle the economic recession and, as part of its efforts, it recently asked workers at the Swindon factory to agree with a temporary 3 percent pay cut. The reason? Hond...
Nissan Expands UK Production, Creates New Jobs
18 May 2009, 09:43 UTC · By: Bogdan Popa / Since we're living during recession times, reports telling us about companies that lower production and fire hundreds or maybe thousands of workers are quite natural. However, Nissan expects to...
After Chrysler, GM Starts Killing Dealers Too
17 May 2009, 07:27 UTC · By: Bogdan Popa / Just as we told you in a previous report, as part of a broader campaign to reduce costs and tackle the economic recession, General Motors plans to get rid of more than 1,000 dealerships. Well, the m...
Ford Hopes to See Profit in 2011
15 May 2009, 08:33 UTC · By: Bogdan Popa / Ford, a.k.a. the only Detroit Three member who hasn't sought government support in its life-saving strategy, said it expects to return to profitability as soon as 2011. In the annual meeting wi...
Ford Expects New Car Sales to Explode with Spain Incentives
14 May 2009, 10:40 UTC · By: Bogdan Popa / While Renault's bosses insisted that the Spanish government isn't helping automakers as it should, Ford expects new car sales to be increased by 400,000 units thanks to incentives offered ...
Kia Expects for 2009 at Least the Same Sales as in 2008
13 May 2009, 10:42 UTC · By: Bogdan Popa / 2008 was the first year that felt the pressure of the economic recession, with automakers reporting good sales in the first half and very poor figures in the second. This obviously resulted in disap...
Suzuki Halts Production in North America This Year
13 May 2009, 10:37 UTC · By: Bogdan Popa / The economic recession is far from being over and Suzuki is just the living proof that supports this statement. According to the company's CEO, the Japanese manufacturer will stop production in...
Daimler Prepares Job Layoffs for Japanese Truck Unit
13 May 2009, 09:47 UTC · By: Bogdan Popa / The economic recession is still putting pressure on companies involved in the automotive industry and, if you consider American automakers are not the best example, have a look at Daimler. The world...
Chrysler Bankruptcy Could Take Two Years
13 May 2009, 09:43 UTC · By: Bogdan Popa / That would be something... Instead of the 60 days period announced by President Barack Obama, Chrysler's bankruptcy could take up to two years, Bloomberg reported today citing an administration...
Renault Says It Might Close Valladolid Plant without State Funds
12 May 2009, 10:40 UTC · By: Bogdan Popa / Renault has always been open to talks with government officials - check out Carlos Ghosn's statements on the matter - but the French manufacturer is now planning to build up the pressure on the...
Mazda Reports $734M Net Loss in 2008
12 May 2009, 08:40 UTC · By: Bogdan Popa / Operating losses and reduced sales shouldn't surprise anybody nowadays, especially given the avalanche of reports surrounding the economic chaos and its victims. Mazda for instance today announ...
GM to Make Supplier Payments Five Days Sooner
11 May 2009, 10:19 UTC · By: Bogdan Popa / General Motors will make monthly payments to suppliers five days earlier this month, the American automaker mentioned in a letter sent a few days ago. The reason? The company is taking action "...
Lotus Elise, Esprit Still Due in 2012
11 May 2009, 08:50 UTC · By: Bogdan Popa / With the economic recession rather deepening that getting back to the initial sales volume, there are a lot of questions regarding the models expected to be launched in the next few years, with next...
Spain's Support? Not Enough, Says Citroen
7 May 2009, 13:12 UTC · By: Bogdan Popa / Citroen Managing Director Jean-Marc Gales calls for more support in Spain because the local government hasn't done enough to help automakers tackle the economic chaos. The statement was made du...
Germany and the Story of the 14 Conditions for State Loans
5 May 2009, 14:04 UTC · By: Bogdan Popa / Opel has longly been in the spotlight, mostly due to its financial instability which led to a bunch of rumors claiming GM Europe, the mother company, is aiming to get rid of the German unit. It appe...
Chrysler's 2010 and 2011 Models in Doubt Due to Chapter 11
5 May 2009, 12:36 UTC · By: Bogdan Popa / Chrysler's recently-confirmed filing for Chapter 11 might also influence the company's short-term plans as 2010 and 2011 models might be delayed, Chrysler manufacturing chief Frank Ewasysh...
GM Receives C$500 Million Loan in Canada
5 May 2009, 10:45 UTC · By: Bogdan Popa / General Motors has just made another step towards its restructuring plan in Canada with the help of Export Development Canada, who agreed to provide up to C$500 million to the American automaker. Ho...
More Than 4,800 Renault Workers Voluntarily Quit Their Jobs
5 May 2009, 09:58 UTC · By: Bogdan Popa / Renault's voluntary departure project is showing the first positive results as approximately 4,800 employees have agreed to quit their jobs from the beginning of the campaign. According to the ...
GM Confirms Offers to Sell Saturn
4 May 2009, 15:20 UTC · By: Bogdan Popa / Although Saturn's future has often been put in doubt, General Motors every once in a while confirmed its intentions to sell Saturn, mentioning with every single occasion that some parties are i...
GM's Four Core Brands See Sales Increase in April
4 May 2009, 09:41 UTC · By: Bogdan Popa / Although the company recorded a 34 percent over the same period last year, General Motors today praised the April 2009 sales, emphasizing that each of its four core brands - Chevrolet, Cadillac, GMC...