Industry

Three electric concepts headed to the 2009 Detroit Auto Show have captured much of Daimler subsidiary Mercedes' press of late, and the timing of the new Daimler-Evonik hints that the technology that underpins the cars could be headed for more than just the show floor. Mercedes' S400 BlueHybrid is...

The tension that has cast a backlight on the Porsche-VW acquisition found a particular intensity in the fight for seats on the joint works council. The board that represents the labor interests at the Porsche Automobil conglomerate will now have half its seats reserved for VW representatives, and...

The precipitous drop in new vehicle sales in the U.S. has hit SUVs and trucks the hardest with small cars and hybrids rapidly gaining market share. That up-tick in share isn't enough to offset the overall slump in volume, however, as even Toyota has decided to put off U.S. production of the Prius...

In a stunning development, the Bush administration released a statement late Friday stating that it was strongly considering using some of the money set aside for the $700 billion financial system bailout to help prop up America's ailing automotive industry. Despite working through the weekend...

The Kuwaiti-based investment firm that partnered with Prodrive’s David Richards and American banker John Sinders in March 2007 to purchase Aston Martin from Ford was previously reported to be offering its stake in the niche carmaker for an estimated $1 billion. Investment Dar Co. paid roughly...

The U.S. House of Representatives has just passed the $14 billion loan bill and it's now headed to the Senate, but that's not the end of the story. Lawmakers in Sweden have proposed their own aid package, totaling $3.4 billion for their country's auto industry. The primary players there are Saab...

Detroit's major auto manufacturers could soon find that three certainly is a crowd when it comes to the world automotive market. CSM Worldwide is predicting 2009 to be the worst year in U.S. automotive sales in over a quarter of a century, and that Chrysler will not make it through the storm...

The demise of the Detroit 3 is unsurprisingly tarnishing the image of American carmakers, however Ford executives are hoping to distance themselves from their neighbors, General Motors and Chrysler, by refusing government loans (for now). Chrysler and GM's current financial situation is no secret...

CSM Worldwide, an outfit that provides automotive market forecasting, is predicting that 2009 will be the worst year for the auto industry since 1982, with just 11.5 million vehicles expected to be sold in the United States. Previously it was reported that the breaking point for General Motors...

Earlier this week reports emerged that Ford was in talks with Chinese carmakers Shanghai Automotive Industry Corporation (SAIC) and Changan Auto over a potential sale of Volvo. The Blue Oval has now confirmed that the struggling Swedish carmaker is up for sale but refused to comment on whether...

Rick Wagoner could be spending his final few days as CEO of General Motors if Senator Chris Dodd of Connecticut and his supporters have their way. Already speculation as to which of the world's proven corporate leaders could take Wagoner's place at the helm of the struggling automotive giant has...

The Bush administration and congressional Democrats have made a tentative agreement for a $15 billion emergency loan for the Detroit 3, but there remains concern in the White House that the carmakers may still not survive. President George W. Bush has reportedly questioned the ability of the...

With the legislation for a loan package to secure the immediate futures of the Detroit 3 is reaching the 'discussion draft' stage today, talk of an overseer to administer the funds has begun. The bill actually stipulates that there may be multiple overseers, raising the possibility of an oversight...

The UAW is reportedly seeking a major stake in General Motors as well as a seat on its board in return for making concessions under the carmaker’s latest restructuring proposal presented to Congress last week. The latest news contradicts statements from UAW president Ron Gettelfinger, who...

The deal between Chrysler and Chery to build small cars for the North American market has been anything but smooth sailing, with numerous delays and obstacles causing both companies to have almost walked away from the deal previously. Now, Chrysler has formerly announced that both it and Chery have...

A decision on the U.S. government's loan package is expected to come from Congress sometime today, but already carmakers are approaching the Canadian government, seeking more aid. The $6.8 billion sought from Canada would still fall short of the $25 billion originally asked for from Congress, even...

Swedish carmakers Saab and Volvo are in dire straits due to the poor financial performance of their respective parent companies General Motors and Ford. When compared to one another, however, Volvo's future is decidedly rosier due to the fact that it has more models, better research facilities and...

A senior Democratic Senator has demanded that the CEOs of the Detroit 3 step down if they want their companies to be given federal aid. Senator Christopher Dodd of Connecticut singled out General Motors’ chief Rick Wagoner as someone that "has to move on". President-elect Barack Obama was not...

Mass consolidations and a number of major bankruptcies are inevitable says Fiat Group CEO Sergio Marchionne as the auto industry weathers the global economic crisis and experiences one of the worst slump in sales in several decades. Marchionne goes so far as to predict that only six carmakers will...

As we approach the next Detroit Auto Show, one of the events mainstays for the past 15 years, the Ward’s Auto 10 Best Engines awards, has once again been announced. The list, which is the North American auto industry’s only award for powertrains, is selected by Ward’s editors, who...