German carmaker Daimler forecast a "significant" drop in revenue in all of its automotive businesses this year as it pushed back its expectations of when the crisis-hit industry might recover.
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Daimler expects a "considerable" drop in revenue in all of its automotive businesses this year, the company said on Wednesday, reaffirming it would post a significant loss for the first quarter.
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Direct injection, a highly precise fuel saving technology, will be standard on the new GMC Terrain small SUV, General Motors plans to announce today at the New York Auto Show.
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Fiat S.p.A.'s equity stake in Chrysler LLC would be allowed to increase in blocks of 5 percentage points as the Italian automaker reaches certain benchmarks in bringing technology to its potential U.S. partner.
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The U.S. Treasury said today that Chrysler LLC and General Motors have launched supplier support programs backed by U.S. government funds. The programs will guarantee receivables owed to the auto parts suppliers for any goods shipped after March 19.
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German bearings maker Schaeffler Group got a 1 billion euro ($1.35 billion) credit line from its banks to shore up its finances. The company has been burdened with billions of euros in debt since its takeover of larger rival Continental.
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Belarus is offering tax breaks to automakers willing to set up assembly plants in the ex-Soviet state. The Belarus government hopes ultimately to create a national automaking plant, Igor Rogozin, a senior government official said.
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Fiat S.p.A.'s equity stake in Chrysler LLC would be allowed to increase in blocks of 5 percentage points as the Italian automaker reaches certain benchmarks in bringing technology to its potential U.S. partner.
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Visteon Corp.'s former interiors and lighting president has been named CEO of supplier Key Plastics LLC.
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In a nod to the gloomy economy, late-night comedian Jay Leno hosted a show on Tuesday to lift the battered spirits of Detroit residents facing steep unemployment and a faltering auto industry.
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Chrysler LLC introduced today an all-new line of V-6 engines that will improve fuel efficiency across the Chrysler, Jeep and Dodge lineup by 8 percent on average compared with previous Chrysler V-6 engines. This more refined and fuel-efficient V-6 engine will ultimately replace seven current Chrysler V-6 engines.
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There's sure to be a buzz at the New York International Auto Show (NYIAS) around the Porsche stand as the automaker presents their latest model to the public. On display will be the stunning new 911 GT3.
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GM and Segway jointly presented a very interesting prototype addressing the reduced mobility needs of city dwellers. Very smart in its application, it has the advantage of offering two seats, and some space, compared to the Segway Personal Transporter's (PT) one.
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The Associated Press is reporting on Wednesday that the prosecution and the defense are both done making their respective cases in the tax evasion trial of Team Penske IndyCar driver Helio Castroneves.
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The 2009 season of the FIA GT Championship got underway with the official media launch, which took place at the Paul Ricard HTTT circuit, within two days of official testing.
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The future of GM was on full display at this year's New York International Auto Show (NYIAS). In line with the automaker's plans to reduce fuel consumption and emissions across their model lineups, new gas-saving technologies and hybrids were the name of the game at GM's expansive exhibit.
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The 'professional grade' division of General Motors had two new models on display for attendees of the New York International Auto Show (NYIAS) earlier this week. Both the new Yukon Denali Hybrid and the brand's upcoming Terrain crossover were on present, showing a planned enhancement of the GMC product lineup.
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