Industry

Auto shows are generally where carmakers like to 'wow' their future customers and show off their new models to both industry rivals and the press. But with the current economic crisis affecting the automotive industry so severely, many companies are choosing to forgo attending the current lineup of...

The vagaries of the automotive market in the current economic situation are such that while some models, and even entire brands, sell poorly, some individual cars are going gangbusters. Thanks to its solid positioning as a functional, cute, inexpensive and efficient hatchback plus Honda's...

Italy has reportedly dropped its objections to a European Commission plan to introduce softer CO2 emission limits on new cars, leaving the door open for an EU-wide agreement on a 130g/km fleet wide CO2 limit. While still not official, inside government sources in Germany told Reuters that an...

The struggling auto industry is feeling the pressure of slow sales and a tough global economy in many markets. Rumors of bankruptcy and pleas for government aid are the norm - but in Germany today a solar power group called SolarWorld surprised the market by making a takeover bid for Opel, General...

Speaking at the Los Angeles Auto Show today, the boss of Renault-Nissan Carlos Ghosn has reaffirmed his company’s need for a “full North American partner” and pledged support for more federal aid for the Detroit 3 as a way to fuel growth in the industry. While Renault-Nissan is...

The three men at the head of Chrysler, General Motors and Ford are on the spot before lawmakers in the U.S. Senate today, pleading their case for a 'bridge loan' to help the automakers span the gap to a perceived future of prosperity. Remarks released ahead of the hearing before the Banking...

Ford has announced that it will reduce its pricing tomorrow as part of an end of year clearance sale, with both employee pricing discounts and cash rebates being offered on most 2008 and 2009 models. Customers will also be able to choose from 0% financing on certain models that Ford is labeling as...

Kuwaiti investment firm, The Investment Dar (TID), has taken a 40% stake in Prodrive, the UK motorsports and technology company announced today. The investment is the culmination of a year's worth of planning and talks that identified the benefits of the buy-in to both TID and Prodrive. “Our...

Several employees of the Mercedes Benz plant in Sindelfinger are under investigation, following allegations of corruption and bribery, according to a number of German news sources. The beginning of a preliminary investigation was confirmed by the Stuttgart public prosecutor's office on Sunday...

Germany on Monday confirmed it would be holding talks with Opel, General Motors' primary European brand, to discuss the topic of aid for the company should GM cease supplying cash. The concern on Opel's part is very real considering the state of GM's U.S. and global operations, and Opel's...

Earlier this year we reported on a vehicle-to-vehicle communications system being developed by a consortium of European manufacturers, and now Toyota and Honda have joined the growing ranks of carmakers working on the future safety technology. The two carmakers have now announced plans to show off...

Mansory GmbH, a tuner specializing in customizing ultra-luxury cars such as the Mercedes-McLaren SLR and the Rolls-Royce Drophead Coupe, have announced that they have "absorbed" the Porsche tuning division of Rinspeed - the same company that brought you the James Bond Inspired sQuba submersible...

Late last week we reported on news that Hyundai was in talks with Chrysler to potentially acquire the Jeep brand, and other assets from the Auburn Hills carmaker. Now, Reuters is reporting that the South Korean manufacturer has denied any interest in Chrysler's assets due to the fact that its own...

The Australian government has announced today a US$4.3 billion rescue package to bailout the country’s struggling automotive industry. The package will be distributed over a period of 13 years, between now and 2021, and is designed to allow the industry to breathe during the current financial...

Carmakers have employed a number of methods to improve the fuel-economy of their cars in the recent past, most notably turbocharging smaller engines and reducing weight. However, the battle to improve mileage and efficiency for cars is stepping up in view of impending CAFE requirements and general...

During his campaign for U.S. President, Barack Obama repeatedly declared his support for the auto industry and indicated he would support it against the tide of the economic downturn. Today President-Elect Obama reaffirmed that commitment with a speech on the economy delivered in Chicago, noting...

Trading of General Motors stocks halted at 11:04am EST this morning in anticipation of a major announcement concerning the company's financial situation. The substance of that announcement revealed that high fuel prices, slumping sales and a tough finance market have led to a net loss of $2.5...

Despite posting a gross operating loss of $2.7 billion for the third quarter, Ford Motor Co.'s net after-tax third quarter losses only amounted to $129 million. That's a significant improvement against last year's $380 million third-quarter loss, though the pre-tax picture is much more grim: a $194...

Following Toyota’s official announcement back in August that it was reducing its global sales target for 2009 by 700,000 vehicles comes a new report that claims the industry juggernaut has cut its annual earnings forecast to less than a third of what it was the previous fiscal year. The new...

The ongoing merger-acquisition talks between Chrysler and General Motors are expected to bear fruit in the form of an announcement this Friday revealing some of the details being discussed. The timing of the announcement coincides with GM's release of its third-quarter earnings report, which is...