Industry

Less than a month after receiving the first $4 billion from the federal government’s bailout package for the auto industry, Chrysler has revealed that it needs an additional $3 billion to help close an alliance deal with Italy’s Fiat Group. Unlike General Motors, which has been...

A major problem in the used car industry is the illegal practice of ‘title washing,’ a process where salvaged wrecks are rebuilt and given new title information and then sold to unknowing buyers. Three consumer groups recently attempted to sue the federal government to force it to...

Despite being the only Detroit 3 carmaker to decline the federal government’s bailout offer, Ford has revealed that it is still doing it tough by reporting a substantial $5.9 billion loss for the fourth quarter of 2008. This figure roughly equates to just under $500 million lost each week or...

The tough times facing the car industry are not new, but the extended duration is beginning to take its toll on even the most luxurious carmakers. Having already announced that it would be cutting its 1,850-member workforce by up to 600 jobs, Aston Martin has now revealed that it will put its...

In its efforts to further reduce costs and streamline is business, Nissan has announced that it will be shutting down its Michigan design studio and cutting back on roughly 100 white-collar jobs in North America, mostly from its sales and marketing operations. The plan will see the carmaker...

General Motors yesterday announced it would be laying off 2,000 workers and reducing production at 10 North American plants over the coming months. At the same time, AM General, producer of the Hummer H2, laid off 200 workers from its Mishawaka, Indiana plant. Now GM's extended production halts...

The recently announced alliance to be forged with Fiat notwithstanding, Chrysler's current position in the market is regarded as precarious by buyers and analysts alike. Vice Chairman Jim Press is more optimistic, however, stating that Chrysler will be 'viable' during the first half of the year. He...

The ongoing economic recession continues to impact the car industry and General Motors Company [NYSE:GM] with reduced revenue and the need to cut production. Reducing production means cutting back on labor, resulting in today's announcement of 2,000 jobs to be cut. Along with the lost jobs, GM will...

As the economy and the car industry transform to lighter, more compact versions of their previous selves, the primary agent of change is cash. Ford CEO Alan Mulally took an opportunity this weekend to re-affirm his company's ability to stand on its own, without government-backed loans, however...

The proposed alliance between Chrysler and Fiat Group will reportedly see seven new vehicles introduced to the U.S. market, with most of the cars expected to be produced at idle Chrysler plants across North America. According to sources that have seen the product-sharing agreement, several of the...

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 has auto industry executives worried once more. Data from 2008 now shows the segment fell 9.9% for...

The $17.4 billion bridge loan package signed into action by President Bush late in December has begun disbursement, with General Motors receiving $4 billion earlier this month and now the second instalment of $5.4 billion as well. This additional funding comes at a crucial time for the General...

Following the announcement this week of a proposed acquisition of a 35% stake in Chrysler by Italy’s Fiat Group, Chrysler’s chief designer Ralph Gilles has given some insight into the thought processes going on behind locked doors at the two companies. Chrysler and Fiat execs are...

General Motors Company [NYSE:GM] today announced that the introduction of Cadillac into the Australia market had been delayed indefinitely. Confirming the bad news was the boss of GM’s Holden subsidiary, Mark Reuss, who said the downturn in the local automotive market plus the broader global...

GM has announced today that its global sales tally for 2008 has come in at 8.35 million vehicles, which represents a 10.8% decline on 2007’s levels and a substantial 616,000 units short of Toyota’s tally over the same period. Toyota also experienced a sales decline over 2008, with its...

There's something to be said for persistence, especially in the face of rejection, but in the case of the Mercedes-Benz R-Class, persistence may not be enough. The slow-selling crossover has hit its zenith, but is still short of the hopes Mercedes had for it when it debuted in 2005. Built in the...

Today’s news of Fiat's decision to acquire up to 35% of Chrysler has taken the automotive world by storm. What might such an alliance portend for Chrysler? What could Fiat possibly derive from the union? And how might you, the car enthusiast, feel about the whole thing? History is always a...

American carmakers recently secured a multi-billion dollar loan guarantee from the federal government but their counterparts across the pond haven’t been so lucky. Late last year the European Commission approved plans to provide up to $6 billion to its automotive industry, far short of the...

Following Toyota’s shock announcement recently that the company is expecting to post a ¥150 billion ($1.7 billion) loss for the year ending March 2009, comes an official announcement that Akio Toyoda, the 52 year-old grandson of Toyota's founder Kiichiro Toyoda, will step into the role of...

Though overall sales figures have slumped through the end of 2008 and start of 2009, there are occasional bright patches of news as carmakers grab market share from long-time competitors or reach individual sales records. Audi has done just that, beating BMW's 3-series and Mercedes-Benz's C-Class...