Auto sales at General Motors, Ford Motor Co. and Toyota Motor Corp. plunged in October as the U.S. industry braced for what may be the weakest monthly sales report in a quarter century. GM plummeted 45 percent from a year earlier.
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Ford Motor Co. posted a 32 percent decline in U.S. sales in October as the industry braced for what may be weakest monthly sales report in 25 years. Ford sold 132,248 cars and trucks last month, down from 194,617 a year earlier.
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Ford Motor Co. posted a 32 percent decline in U.S. sales in October as the industry braced for what may be weakest monthly sales report in 25 years. Ford sold 132,248 cars and trucks last month, down from 194,617 a year earlier.
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Faurecia looks unlikely to lead any wave of consolidation that takes place in the supplier industry on the back of the current economic crisis.
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General Motors Indian unit boosted October sales 6% year on year to 6,465 units in October 2008, compared to 6,139 units in the corresponding month last year.
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Indian automakers hope that developing Euro-V-compliant engines will open up new export markets in Europe and the US.
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Citroen ace and his co-driver Daniel Elena celebrate.
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A strong showing from Hyundai Motor Company has seen sales of South Korea's auto manufacturers rise 3.7% in October over the same month in 2007.
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Tesla Motors Inc. said today that its board had approved $40 million in convertible debt financing to push ahead with stepped-up manufacturing of its battery-powered Roadster sports car.
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French auto parts supplier Faurecia will not use an impending consolidation wave in the industry to spur growth through MandA deals, its CEO told German business weekly WirtschaftsWoche.
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Despite the abrupt cancellation last month of a venture to produce nearly 700,000 dual-clutch gearboxes a year with Chrysler and the global collapse in auto sales, transmission specialist Getrag expects to continue growing.
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Goodyear has announced third quarter net income of just US$31m against a figure of US$668m in 2007. But it's not as bad as it looks. Last year's third quarter was distorted by the US$517m proceeds of a divestiture; the comparable figure last year is US$159m (an 80% drop).
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Volkswagen plans to establish a largely self-sufficient sales company for its crucial German home market. VW Group CEO Martin Winterkorn wants to provide the German sales unit with more room to maneuver entrepreneurially.
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Chrysler owner Cerberus Capital Management now favours a merger with GM and has stopped talking to the Renault-Nissan Alliance.
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Production at the new Hyundai plant in Nosovice, Czech Republic, will start this Monday, five months ahead of schedule.
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Production at the new Hyundai plant in Nosovice, Czech Republic, will start this Monday, five months ahead of schedule.
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Tata Motors has said its INR4.147bn rights issue to part-finance the purchase of British brands Jaguar and Land Rover was fully subscribed with promoters picking up significant amounts of the stake.
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Tata Motors has seen a 20% fall in vehicle sales in October this year compared to the same month last year, according to local reports.
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Data released by Spanish automotive trade association ANFAC shows that Spain's car market recorded sales of just 77,660 units in October, a year-on-year decline of 40%.
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Germany has finally put forward plans for a new CO2-linked ownership tax.
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