Tesla Investigated for Using Foreign Instead of US-Made Parts
7 Dec 2012, 15:10 UTC · By: Andrei Nedelea / Just days after announcing that the company had finally stopped losing money, last week, we have now learned that Tesla Motors has the subject of an ongoing investigation by federal authorities, who...
Auction of A123 Systems Begins With Four Contenders
7 Dec 2012, 14:27 UTC · By: Andrei Nedelea / American battery manufacturer A123 Systems, the company which, among other things, makes the battery pack for the Fisker Karma, went bust last month. Now, several companies have offered to step in a...
Investindustrial Now Officially Owns 37.5% of Aston Martin
7 Dec 2012, 12:28 UTC · By: Andrei Nedelea / It is now official. Aston Martin has sold a 37.5% stake of the company to the Italian private equity firm Investindustrial, for £150- (€185- / $240-) million. The Italians beat the Indian...
Tesla Motors Reports Positive Cash Flow for Last Week
6 Dec 2012, 16:56 UTC · By: Andrei Nedelea / Having faced numerous setbacks in the last few months, Tesla has had to reduce the expected production output of the Model S, for the rest of the year, and increase the price of each car by $2,500, ...
In Spite of Poor European Economic Situation, Volvo Stays in Sweden
5 Dec 2012, 11:00 UTC · By: Andrei Nedelea / The European automotive sector, and the financial situation generally speaking have definitely seen better days, and the major automakers have had to make production and staff cuts, in order to prev...
Toyota Prius Plug-In Gets $5,000 Cash-Back Discount
29 Nov 2012, 11:53 UTC · By: Andrei Nedelea / Toyota has announced that it will be offering a financing discount of up to $5,000 for those interested in buying their Prius Plug-In Hybrid Advanced model, while the regular version of the plug-in ...
Mahindra Looking to Complete Aston Martin Purchase this Week
27 Nov 2012, 10:30 UTC · By: Andrei Nedelea / As we reported a few weeks ago, Aston Martin is up for grabs, and the most serious bidder is India’s Mahindra and Mahindra. They have announced that they want to finish the job of buying out t...
Infiniti to Sell Vehicles in Brazil as of 2014
26 Nov 2012, 15:05 UTC · By: Andrei Nedelea / After setting up a ‘permanent base’ in China, Infiniti is eyeing another fast-growing market - Brazil. The South American country’s economy is going up, and along with it, the dema...
BMW China Three-Year Sales Plan - 1 Million Units
26 Nov 2012, 09:54 UTC · By: Andrei Nedelea / BMW is a very highly thought-of brand, in China, where they have managed to sell an impressive 264,884 units of its BMW- and Mini-branded offerings, from January of this year, right through to Octob...
Fiat Share Prices Fall as European Banks Become More Weary
24 Nov 2012, 10:01 UTC · By: Andrei Nedelea / The CEO of Fiat, Sergio Marchionne had recently announced that he was interested in acquiring the rest of Chrysler, and completely merge the two companies. However, this ‘announcement’ h...
Turkey Wants to Become World’s 10th Economy through Automotive Production
19 Nov 2012, 09:57 UTC · By: Andrei Nedelea / Turkey is a great example of how a country can base its economy, or most of it, on automotive manufacturing - cars, parts, as well as the associated services. The country has largely been immune to ...
European Car Market Continues Decline in October
19 Nov 2012, 09:17 UTC · By: Andrei Nedelea / While the rate of decline may have slightly improved in October, the European car market still went down further, last month, with all of the major automakers suffering double-digit declines. In the...
Ford of Australia Sacks 212 Workers at Local Plant
16 Nov 2012, 16:50 UTC · By: Andrei Nedelea / One of Ford’s Australian factories, in the state of Victoria was forced to give up on the services of 212 of its workers, today, following six months of uncertainty and negotiations. Prior to ...
Downsizing Trend Affects Ford’s US Sales
15 Nov 2012, 15:31 UTC · By: Andrei Nedelea / Ford, and the other major US manufacturers had gotten used to people buying lots of SUVs and pickup trucks, at a steady rate. However, as fuel prices along with people’s green awareness, downs...
UK Car Output Up 6.5% in October
15 Nov 2012, 14:54 UTC · By: Andrei Nedelea / Despite the fact that most of Europe is facing a prolonged economic crisis, car production in the UK has risen all throughout the year, as well as in October. According to the Society of Motor Manuf...
Elon Musk Confident Obama Win is Good for EVs
14 Nov 2012, 16:54 UTC · By: Andrei Nedelea / The Obama administration is well known for its support of plug-in vehicles, including EVs, so his reelection as president of the United States will make Tesla CEO, Elon Musk, sleep much more soundly...
GM Deal in the Doldrums - PSA in Talks with Tata Motors
14 Nov 2012, 16:17 UTC · By: Andrei Nedelea / With the announcement that more advanced talks between GM and the PSA group would be ceasing for the next two years, due to the uncertain economic climate of Europe, we thought the French giant woul...
Lamborghini CEO Skeptical About Ultra-Luxurious Car Sales Demand Growth in 2013
14 Nov 2012, 15:52 UTC · By: Andrei Nedelea / As the European economic crisis persists, and will do so until 2015 to 2016, the demand for ultra-luxurious cars will most likely not increase in 2013. This is the view of Lamborghini CEO, Stephan W...
Porsche to Stop Weekend Shifts Due to Weak European Demand
13 Nov 2012, 10:27 UTC · By: Andrei Nedelea / Porsche has announced that it will be halting weekend shifts at its biggest plant in Europe, as of next year, due to a drop in demand, which can be attributed to the expanding debt crisis currently ...
Ferdinand Piech Will Stay at VW Until 2016 to Guide Furhter Expansion
13 Nov 2012, 09:44 UTC · By: Andrei Nedelea / Ferdinand Piech has been at the head of the VW group for the last 18 years, and despite having reached the age of 75 himself, he does not plan to retire any time soon. In fact, he sees more room for...