Tagged “Industry”

  • Porsche determined to acquire 75% stake in VW

    Earlier this week we saw Porsche finally acquire a majority stake in the Volkswagen Group, with its direct ownership in the German giant moving up to 50.76%. While Porsche is no rush to increase its h...

  • Toyota halting Japanese production for 11 days

    The global downturn in car sales is a familiar topic these days, and even the production juggernaut of Toyota is facing unseen declines in demand for its products. To help realign output with that dem...

  • GM starts seeking concessions from UAW, bondholders

    The UAW's near-stranglehold on the domestic auto industry has taken a lot of the blame for the current condition of the carmakers. Whether it's a fair conclusion or not, however, for companies like Ge...

  • Ford struggling to find buyers for Volvo

    Ford is reportedly having trouble offloading its failing Volvo subsidiary, with German carmaker Daimler over the weekend strongly denying any interest in the Swedish brand. Volvo, which was once a par...

  • 1,000hp Dodge Challenger SRT8 by RDP Performance

    Ohio tuning firm RDP Performance has cooked up a special version of the new Dodge Challenger SRT8 for last month's Performance Racing Industry (PRI) Show in Florida. Taking a stock SRT8, which comes w...

  • Hybrid sales plummeting as fuel prices drop

    The crumbling U.S. economy and the plummeting price of fuel are two of the major factors behind a sudden drop-off in sales of hybrid vehicles in the U.S. market, and the falling popularity of hybrids...

  • Toyota committed to F1 despite profit slump

    The global economic crisis is taking its toll on many carmakers, including industry juggernaut Toyota, which has forecasted a $1.7 billion loss for the financial year ending March 2009. This will be t...

  • GM sales chief says Saturn is safe

    In the last couple of weeks there have been numerous reports that General Motors may be looking at dropping its poor performing brands such as Saturn, Pontiac and GMC, however the carmaker's vice-pres...

  • Report: Insider reveals trouble brewing at Ferrari

    An anonymous inside source has contradicted claims that Ferrari is holding up fine during the global financial crisis, claiming that things are not as rosy as the Maranello automaker would have us bel...

  • Toyota denies reports that CEO may be ousted

    Following Toyota’s shock announcement yesterday that the company is expecting to post a ¥150 billion ($1.7 billion) loss for the year ending March 2009, comes a new report that claims current CEO K...

  • GM changes bylaws to improve board flexibility

    The board of directors at General Motors has been actively involved in steering the company through regular board meetings and weekly conference calls, but the situations surrounding the bridge loans...

  • 2008's best and worst sellers

    Though 2008 started out fairly strong, riding the wave of 2007, it soon became clear that things weren't going to hold up. Few anticipated how sharply the market would drop, however, and that combinat...

  • Toyota forecasts first operating loss in 71 years

    Toyota has forecast its first operating loss in 71 years, citing falling demand and an appreciating yen as the key factors leading to its poor performance. Despite already cutting operating profit pre...

  • Canada approves $3.3 billion auto industry bailout

    After conditionally approving an bailout package for the Detroit 3 carmakers that was dependent on the U.S. government approving its own aid fund, Canada’s lawmakers have agreed to offer up to CAD$4...

  • Cerberus offers up stake in Chrysler

    Cerberus Capital Management, current majority stake holder in Chrysler, is offering its entire equity stake in the carmaker to help it restructure and gain federal loans. The move is also designed to...

  • Ford to close 10 plants in January

    As Chrysler teeters on the brink of total shutdown, and rumors of a merger with General Motors fly about, Ford is adhering closely to its plan to 'rightsize' its operations, chopping production at 10...