Industry

In a surprise turnaround, General Motors CEO Rick Wagoner has suggested that an increase on federal fuel taxes in the U.S. was an idea "worthy of consideration". Wagoner said that guaranteeing a minimum price of $4 a gallon on petrol, an idea proposed by AutoNation car dealership boss Michael...

Daimler has chosen Michigan as the site for a new $10 million research center focusing on alternative propulsion systems, such as hybrid technology. The German auto giant was previously considering building the center in South Carolina or California but chose Michigan following the promise of a...

Partnerships between American and Chinese carmakers are nothing new, but only in the recent past has there been talk of Chinese-manufactured cars being imported into North America. Chrysler is one of the most determined American carmakers seeking to launch a Chinese-manufactured car in the U.S...

Both General Motors and Chrysler are fearful a bankruptcy would kill whatever consumer confidence the ailing Detroit carmakers may have left but in the latest twist of the saddening U.S. auto industry saga the CEO of GM has revealed that a pre-planned bankruptcy "could work". Rick Wagoner insists...

Following a record first-quarter profit for Ferrari, the slowing global economy and tightening credit markets slammed into the car industry and ground what had looked like a promising year to a halt. There was talk of tough times at Ferrari. But Ferrari's ledger sheet still looks bright, says the...

The global economic crisis has taken its toll on virtually every major carmaker around the globe but the effects have varied significantly between firms. General Motors’ financial predicament has been well documented, with the ailing Detroit carmaker teetering on the edge of bankruptcy...

As a sign of how bad things are really getting for the U.S. auto industry, the number of cars on the roads are expected to drop for the first time in more than fifty years. We're not just talking several thousand cars either - the fall is expected to top several million vehicles. Last year, the...

Ford is projecting the strongest image of the Detroit 3 at the moment due to its refusal to seek government loans, but it says the deal General Motors and the CAW reached won't be good enough to keep Ford competitive in Canada. GM, on the other hand, seems pleased with its deal, and has announced...

In what is set to become a terrible domino effect, lagging demand for new cars and an uncertain future at Hummer, Saturn and Saab dealerships is leading to an inventory pile up. That, in turn, means dealers are ordering no new cars, driving General Motors' production schedule even further out of...

Fiat Group, Chrysler and its parent company Cerberus Capital Management in January released a joint statement announcing they had signed a non-binding term sheet to establish a global strategic alliance. The alliance, a key element of Chrysler’s viability plan, would provide the American...

While German luxury rival Audi is posting record profits and sales, BMW’s performance is looking much more sour with the company announcing today that its profits have dropped 89% over the past 12 months. BMW still managed to earn a net annual profit of €330 million but analysts were...

General Motors and Chrysler have told authorities in Canada they need as much as $8 billion in aid to stay afloat, more than double the original amount requested just three months ago, and in the latest twist Chrysler has threatened to pull out its operations if it does not receive the funds. The...

The weak economy knows no borders, rampaging across the globe taking its toll in lost jobs and bankruptcies. The car industry in particular is no stranger to this strife, and some might say Great Britain's carmakers most of all, considering their rocky history. In late January UK Business Secretary...

General Motors, like a lot of other carmakers, is having a tough time lately - some might say tougher than most. Opel, GM's German subsidiary, and Vauxhall, Opel's UK-based doppelganger, are taking it on the chin as well. Today German Chancellor Angela Merkel announced the government would be...

At a time when General Motors and Chrysler are facing the reality of bankruptcy, Toyota is forecasting a multi-billion dollar loss, and most other carmakers are either shutting down plants or laying off workers, Audi has managed to post a record profit and its best ever sales figures. Both the U.S...

PSA Peugeot-Citroen and BMW currently build small engines together that the French auto giant uses for a number of compact hatchbacks and urban runabouts and BMW for its Mini range. There are now reports that the two companies are considering strengthening this agreement with plans to build a...

They did it in the nation’s capital at the first round of viability meetings and tomorrow in Detroit government officials will once again be able to drive a prototype for the upcoming Chevrolet Volt plug-in hybrid. This time around the officials will include the Obama administration’s...

Former presidential candidate John McCain, as well as fellow republican senator Richard Shelby, both believe that General Motors and Chrysler should go into bankruptcy rather than taking American tax dollars to prop themselves up. McCain is opposed to both the Wall Street bailout and the automotive...

Ford is having trouble offloading its failing Volvo subsidiary but the company is determined to sell it and has already started approaching potential buyers in spite of the tough economic conditions. The Blue Oval has been in talks with a number of potential suitors in the recent past, and the...

Pain at the pump is a thankfully remote sensation for most Americans these days. Just last summer we were all hurting everytime we had to go somewhere, to the point where we traveled 30 billion fewer miles than the year before. But the absence of pain at the pump means we don't have much in the way...