The little-known Sichuan Tengzhong Heavy Industrial Machinery company expects to complete the deal to buy GM's Hummer brand by October, Yang Yi, the company's general manager, has said.
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Does the sale of Opel-Vauxhall to a Magna-led consortium create an orphan automaker that will struggle to compete? Perhaps something more complex and clever is afoot, writes Mark Bursa.
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General Motors' plans for the Mercosur region will not be affected by the parent company's bankruptcy in the US due to the local unit's legal and financial independence, GM Brazil and Mercosur president Jaime Ardila said. The plan to invest US$2.5bn here from 2007 to 2012 in two stages remains unchanged.
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Saab said on Monday it is likely to unveil its new owner this week, and that three quarters of its creditors had agreed to a proposed writedown of the brand's debt.
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General Motors' Saab said it was likely to announce its new owner this week and that three quarters of its creditors had agreed to a proposed writedown of the money-losing brand's debt.
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New partners Brembo and SGL Group predict that demand for carbon ceramic brake discs will rise sharply once they find ways to reduce the high cost of a component.
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A majority of members of the two families controlling Porsche back a deal for the Gulf state of Qatar to acquire a 25 percent stake in the luxury car maker, a German magazine said.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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Koenigsegg Automotive believes it can rescue General Motors' loss-making Saab unit, a co-owner of the Swedish luxury sports car maker said.
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European car scrapping schemes are aiding a shift to smaller, cleaner cars but environmental campaigners say they fall short of pledges to create a greener economy during the recession. "It's definitely a missed opportunity.
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Credit crunched travelers hoping to dodge transport fares by sticking up their thumbs may be in for a long wait, as a new study shows that three-quarters of Britons would not consider picking up a hitchhiker.
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General Motors will cut its senior executive pension plans by up to two-thirds as part of its bankruptcy restructuring, CEO Fritz Henderson told a U.S. House Energy and Commerce subcommittee on Friday.
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New partners Brembo and SGL Group predict that demand for carbon ceramic brake discs will rise sharply once they find ways to reduce the high cost of a component.
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Sichuan Tengzhong Heavy Industrial Machinery, the surprise winning bidder for bankrupt General Motors' Hummer brand, said the deal should be wrapped up before October.
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The current wave of hi-tech ultra-low emissions diesel engines has given the venerable oil-burner a rebirth in the passenger car market, and that's a good thing given the many appealing aspects of diesel power.
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Jonathan Summerton returned to Victory Circle and brought Genoa Racing its first Atlantic win since 1994 in the first race of the Mazda Formula X at New Jersey Motorsports Park on Saturday afternoon.
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As usual, the wide and fast Michigan International Speedway was the host of a pretty safe but nail-bitting NASCAR Sprint Cup race as, once again, fuel economy became the major tool to winning the LifeLock 400 race.
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Polish rider Taddy Blazusiak (KTM) dominated the Erzberg today, winning by an incredible 42 min. advantage after more than two tough hours of racing on the 45 km track laid out in an open-air steel mine pit. Graham Jarvis (Sherco) was second after a steady, error-free race aboard a smaller 250cc four stroke machine. Andy Lettenbichler came in third on a BMW.
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Current champion Valentino Rossi has beaten Yamaha team-mate Jorge Lorenzo in what was one of the most exciting finish yet this year at the Grand Prix of Catalunya. Lorenzo, who earned the pole yesterday, completely dominated the race along with Rossi, as the two fought it out till the last moments to finally see who would prevail.
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Mazda Motor Corporation today announced the successful launch of the newly developed Aqua-tech Paint System for vehicle body painting at its Ujina Plant No.1 in Japan.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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