Industry
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Detroit, once America’s fourth biggest city and still the heart of the country’s auto industry, filed for Chapter 9 bankruptcy protection in a federal court late on Thursday. With a current population of approximately 700,000, it means Detroit is now the biggest municipal to ever file for bankruptcy protection in the U.S. The approval came from Michigan Governor Richard Snyder based on a recommendation from the city’s emergency manager Kevyn Orr. The city had failed to negotiate a reduction on debts totaling $18.5 billion, owed to creditors and unions, some of which are...
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Execs From China’s BAIC Visit Fisker Headquarters, Eye Atlantic Sedan: ReportDespite it being close to a year since Fisker last made a car, the company is yet to announce bankruptcy and remains confident a new investor or even a potential buyer can be found. One hope for Fisker could come in the form of China’s Beijing Automotive Industry Holding Co. (BAIC), the...
Viknesh Vijayenthiran -
More EU Countries May Follow France’s Lead To Block Sales Of Certain Mercedes CarsLate last year concerns over the harmful effects of a new type of refrigerant, R1234yf, used in car air conditioners and shown by Mercedes-Benz to be flammable in certain situations, such as in a head-on collision, emerged. This led to the German automaker recalling a number of cars, including the...
Viknesh Vijayenthiran -
Acura Partners With Guangzhou For China ExpansionHonda’s upmarket Acura division has been selling cars in China since 2006 so it has a long way to go to catch up to more established players in the world’s biggest car market. To strengthen its position, Acura has partnered with Chinese automaker Guangzhou, paving the way for the local...
Viknesh Vijayenthiran -
Mercedes CEO Reveals More Details On Potential Mexican PlantA month ago, it was reported that Mercedes-Benz was considering production in Mexico, with the most likely scenario seeing the CLA Class compact sedan built at an existing plant from Mercedes alliance partner Nissan. Nissan’s upmarket Infiniti brand will soon launch its own compact car based...
Viknesh Vijayenthiran -
BMW Predicts China Will Overtake U.S. As Its Biggest Market In 2013With a population exceeding one billion and a voracious appetite for luxury goods, it’s only a matter of time until China overtakes the U.S. as the single biggest market for premium cars. China is already the biggest market for new cars and this year the country is expected to overtake Europe...
Viknesh Vijayenthiran -
Once a beacon for thieves, the Cadillac Escalade is no longer the most stolen vehicle in the country and is actually outranked by five other vehicles. The Highway Loss Data Institute (HLDI) has just released its annual top-ten lists of the most stolen vehicles from the 2010 to 2012 model years, and sitting at the top is the Ford F-250. This is the first year since 2003 that some version of the Escalade hasn't topped the list. You may be wondering at this point why a commercial vehicle like a Ford F-250 is the most popular among thieves. As The Car Connection points out, it's confusing to the...
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Tesla Motors Joins NASDAQ 100The NASDAQ isn't exactly a top topic amongst most gearheads, nor is its NASDAQ-100 Index, used to track the exchange's climate. But as of July 15, Tesla Motors will become one of the 100 companies that compose the index. That will make Tesla [NSDQ:TSLA] the only automaker listed in the index, owing...
Nelson Ireson -
Fiat Ups Chrysler Stake To 68.49 Percent, Edges Closer To Full ControlFiat has exercised an option to buy an additional 3.3 percent of Chrysler, bringing it closer to full control of the American automaker. As part of the 2009 deal that originally gave Fiat 20 percent of Chrysler and the promise for more if certain targets were met, Fiat also gained the option to buy...
Viknesh Vijayenthiran -
Bernie Ecclestone To Buy The Nürburgring? Not QuiteThe commercial rights to the legendary Nürburgring circuit in Germany went up for sale in May, following the insolvency of its operator Nürburgring GmbH (the track itself is owned by the German government). A number of tenders offers were submitted before the close of bidding on June 12...
Viknesh Vijayenthiran -
Too Many Emails Clogging Up Your Day? Ferrari Shares Your PainAlmost anyone who works in a modern office will know the pain of being inundated with numerous emails throughout the day, and the wasted time of checking an inbox full of emails that often don’t even concern its reader. It turns out Ferrari employees suffer from the same distractions; so much...
Viknesh Vijayenthiran -
GM And Honda The Latest To Partner On Fuel Cell DevelopmentDespite fuel cell technology’s lack of traction in the auto industry, most major automakers are committed to furthering the technology and eventually selling a car powered by the advanced propulsion system. The main reason given is that the car of tomorrow could be one of several main types...
Viknesh Vijayenthiran -
McLaren Automotive, the McLaren Group’s supercar manufacturing arm, has announced today that Mike Flewitt will serve as the company’s CEO. Flewitt only joined McLaren Auto in May of 2012 and until now served as the company’s chief operating officer. He will be reporting to Ron Dennis, who remains chairman of McLaren Auto and one of its primary shareholders. Flewitt faces a multitude of tasks in his new role as CEO. The company plans to reach a global network of 50 retailers by the end of 2013, a symbolic number given this is the year that McLaren celebrates its 50th...
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Control Of PSA Peugeot Citroën May Be Handed Over To GM: ReportPSA Peugeot Citroën, led by the Peugeot family, may see control ceded to General Motors, according to the latest reports. The struggling French automaker has been crippled by shrinking sales in its home market of Europe, a problem compounded by its lack of exports. Citing inside sources...
Viknesh Vijayenthiran -
Major Shakeup At GM Design, Single Designer To Lead Buick And OpelGeneral Motors has announced several key changes affecting its design operations, most of which are aimed at improving cohesion across the automaker’s global design studios and strengthening the attributes of its individual brand identities. Crucially, the automaker states that the changes...
Viknesh Vijayenthiran -
Alan Batey Announced As Head Of Chevrolet GlobalGeneral Motors has named its current U.S. sales chief for Chevrolet, Alan Batey, as the brand’s new global chief. Batey’s newly created post will see him head the brand that’s responsible for more than half of the sales of General Motors Company [NYSE:GM] worldwide. At the same...
Viknesh Vijayenthiran -
Has Aston Martin Just Extended Its Engine Deal With Ford?Aston Martin currently sources its V-8 and V-12 engines from Ford, which builds them on a dedicated line at one of its plants in Cologne, Germany. The current supply deal for the engines is slated to end this year, which has led to speculation Aston Martin may switch over to AMG engines due to its...
Viknesh Vijayenthiran -
Lotus Launches Motorcycle Division And Announces New C-01 SuperbikeDespite its current financial difficulties and lack of announcements concerning the future of its sports car production, Lotus has launched a new motorcycle division and announced plans for a C-01 superbike. The C-01 will be Lotus’ first motorcycle though the company will have a considerable...
Viknesh Vijayenthiran -
Spyker will appeal last week’s court decision to dismiss the Dutch sports car manufacturer's $3 billion lawsuit originally filed against General Motors almost a year ago. In August of 2012, Spyker filed the $3 billion lawsuit against General Motors Company [NYSE:GM] in a U.S. District Court in Michigan, alleging that the American auto giant deliberately forced Spyker-owned Saab into bankruptcy by blocking a planned asset purchase by Chinese investor Youngman Lotus. GM retaliated by seeking a motion to dismiss the case within months of the original filing, and this in turn was opposed by...
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Audi R&D Chief Wolfgang Dürheimer Replaced By Ulrich Hackenberg: OfficialAudi R&D chief Wolfgang Dürheimer has been replaced just 10 months after taking up his current position. Germany’s Der Spiegel was first to report that Dürheimer was likely to be replaced as Audi’s R&D chief by Volkswagen Group R&D chief Ulrich Hackenberg, and now...
Viknesh Vijayenthiran -
Porsche Tops J.D. Power’s 2013 Initial Quality StudyThe results for this year’s J.D. Power Initial Quality Study are out and it’s Porsche that’s been recognized for having the least amount of problems with its cars on average. The German sports car manufacturer knocks off last year’s leader Lexus, which dropped back to third...
Viknesh Vijayenthiran -
Jaguar Land Rover Aims For One Million Annual SalesJaguar Land Rover (JLR) is enjoying a resurgence right now, bouyed by the sales of successful models like the Range Rover Evoque and latest Range Rover. It's aiming higher too, with one million yearly sales the eventual target--up from around a third of that today. JLR's sales are still relatively...
Antony Ingram -
Buick And Opel Link To Become Stronger, Says GM CEOBuick currently sells three vehicles that were originally conceived as Opels, and by the looks of things it's set to have more. Buick’s latest Encore, Regal and Verano models all share their underpinnings and most of their bodywork with models sold overseas as Opels (Vauxhalls if you’re...
Viknesh Vijayenthiran -
Mercedes-Benz To Offer Car-2-Car Communication This yearNew Car-2-Object and Car-2-Car communication will enable your car to warn you of an impending crash, or perhaps even take action itself to avoid one, by knowing well ahead if there’s a potential hazard in the road ahead or approaching at the next intersection. It will do this by...
Viknesh Vijayenthiran