Industry

Chrysler’s future Phoenix V6 engine has been speculated on for the past several years and now as the company is the midst of merger talks there have been claims that the $3 billion engine project may have been shelved. The Phoenix V6 was touted to be a world class engine designed for...

Talk of General Motors purchasing or merging with Chrysler, sale to a third party or other speculation has been refined somewhat by Cerberus' statement today that it is trying to find a single buyer for Chrysler. The ideal situation for Cerberus would be a merger with GM, stake in the combined...

News of a new cooperation agreement between Aston Martin and Mercedes-Benz, called appropriately enough, 'Romeo and Juliet', has come to light. Though it's not finalized yet, the deal is not a total surprise, though its scope is bigger than anticipated, with a value estimated at $385 million and...

In July, BMW announced a new partnership with Fiat for the use of U.S. Mini dealerships by Alfa Romeo, and in August the carmaker turned to negotiations with Mercedes-Benz over procurement and purchasing agreements. Now those agreements have come to fruition and joint-purchasing arrangments are...

One of the biggest hindrances to the rollout of more hybrid vehicles is the high relative cost of their petrol-electric powertains over standalone internal combustion engines. A petrol-electric hybrid vehicle on average costs about $6,000 more than a comparable petrol model, but according to a new...

Volkswagen has one of the widest and most interesting engine range in the automotive industry but in the United States its offering consists of a paltry line of four, five and six-cylinder units that are mostly petrol. That is set to change, however, as construction of a plant in Chattanooga...

Late on Friday it was reported that General Motors was in preliminary talks with Chrysler’s parent company Cerberus Capital Management over a possible deal to acquire the Auburn Hills carmaker. Since then Chrysler CEO Bob Nardelli has confirmed that the talks had taken place but stated that...

Porsche is expected to release another set of high profit figures for this financial year on the back of its growing stake in VW and its own successful sports car range, but despite this success the carmaker is critical of the poor performance of some of its rivals and the U.S. government bailout...

General Motors has announced a new CEO for Hummer as the brand experiences one of the most tumultuous periods in its history. Moving into the CEO position is former Cadillac general manager Jim Taylor, whose appointment comes just weeks after GM confirmed a sale of the SUV brand. The move is part...

Yet another senior management reshuffle has taken place at electric car company Tesla, with chairman and key investor Elon Musk replacing Ze’ev Drori as CEO. Drori stepped into the top job as recently as December 2007 - replacing Tesla founder Martin Eberhard - and now moves to the position...

Volvo has been forced to postpone redesigning two of its vehicles due to a lack of funds and increasing focus on new technology and vehicle segments. Originally, Volvo's XC90 SUV was scheduled to be redesigned for 2010, but will now instead receive a facelift, with the redesign expected to be...

Following a number of weekend reports claiming Chrysler could be sold to General Motors comes the first official confirmation from its CEO that major structural reforms are being considered at the Auburn Hills carmaker. Bob Nardelli told employees in a memo today that Chrysler has been in...

Automotive lending and mortgage firm GMAC has announced it will further restrict automotive financing by ceasing to offer any money to buyers with credit scores lower than 700. The move puts most American buyers out of contention for GMAC financing, as the average credit score in the U.S. is 680...

In the wake of reports of a possible merger between Chrysler and General Motors, the company has begun looking for partners to build its mid-size platform. The new car will replace the Sebring/Avenger pair, and will likely feature alternative powertrains including hybrid and all-electric options...

Capping off a week that saw General Motors’ share price take a 31% hit in a single day comes a new report claiming the carmaker is in talks with Chrysler over a possible merger deal. According to an inside source familiar with the talks, GM approached Chrysler more than a month ago to discuss...

Despite the dire state of most of the industry, there have been a few consistent bright spots, and Maserati is now set to join them. The builder of luxury sports cars has already sold 40% more vehicles than it did last year, and that figure could still be going up. Through August, Maserati has sold...

Renault bosses have hinted at a possible return to the U.S. market as the French carmaker contends with one of the worst sales slumps in its history. Renault’s market share in Western Europe has dropped to 7.7% from the highs of 9.7% in 2005 when current CEO Carlson Ghosn stepped in, and the...

After universally sour September sales, the car industry is reeling despite the longer-term boon that the $25 billion loan deal may provide. Weak credit is believed to be the primary culprit of the especially low sales figures, and so Toyota is taking steps to combat that problem by offering its...

Just this week the $25 billion federal loan package was approved for the car industry, and already insiders are hinting that the extra cash could revive plans for GM's rear-wheel drive Alpha platform. Movement toward more RWD models had been shelved on concerns over spending and efficiency...

American carmakers recently secured a $25 billion loan guarantee from the federal government, and now their European counterparts are seeking the same sort of deal from the European Commission. Asking for a somewhat more significant $55 billion in loans, the industry has the money earmarked for...