CarMax Inc.'s net profit sank 67.5 percent for its fiscal year, but the publicly traded used-vehicle retailer stayed in the black, the company said today. In the final quarter, net income jumped 72.0 percent to $37.5 million. Revenues fell 28.
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Aston Martin caught our eye with the Rapide concept at the 2006 Detroit auto show. But the project slid to the back burner as then-owner Ford Motor Co. couldn't fund development of the car.
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A former General Motors designer will shape the future look of Hyundai.
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U.S. carmaker Ford Motor Co. is in talks with unions to cut the workweek at its sole Russian assembly plant to compensate for expected falls in demand, a Ford spokeswoman said on Thursday.
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Ford has overcome one of the most challenging aspects of high performance front wheel drive cars - giving its new Focus RS 300bhp (221kw) and 324lbft (440Nm) only a whiff of torque steer. The trick is a combination of clever new suspension and a motorsport-derived Automatic Torque Biasing (ATB) differential from UK drivetrain specialist Quaife.
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New vehicle sales in South Africa declined by 30.3% year-on-year in March to 36,331 units as the sector suffered hard times in line with a depressed South African economy.
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Kia is offering a hint of its first near-luxury sedan at the Seoul motor show with a concept called the KND-5.
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Chevrolet's 2010 Equinox will carry a base price of $23,185, including its delivery fee, when the crossover goes on sale in June.
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Hyundai Mobis is eyeing supplying parts to more German car makers and automakers in China, a senior executive said on Thursday.
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GM has reportedly suspended production this week until April 13 at its St Petersburg plant, according to business daily Vedomosti.
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Hyundai Motor plans to develop environment-friendly cars despite the segment's low profitability and an industry downturn, a senior executive said on Thursday.
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GM Daewoo Auto and Technology president Michael Grimaldi has said the company's cash position for the April-June period was worrisome.
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The German government on Thursday named senior Daimler executive Ruediger Grube to head national rail company Deutsche Bahn.
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Germany plans to keep incentives worth 2,500 euros ($3,336) for customers who turn in cars over nine years old and buy a new, fuel efficient one, until at least the end of May, a government source said today.
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Steven Rattner built his banking and investing image on smart media deals and his political capital through Democratic party fund-raising. His prize: two classic automakers, lots of mileage -- and a trip to bankruptcy court among the options.
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Germany plans to keep incentives worth 2,500 euros ($3,336) for customers who turn in cars over nine years old and buy a new, fuel efficient one, until at least the end of May, a government source said today.
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German bearings maker Schaeffler Group - heavily in debt after swallowing Continental just before the credit crunch began to bite - has broadly agreed interim financing worth EUR500m (US$661m) with its banks, a German newspaper said on Thursday, citing financial sources.
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American Suzuki Motor Corp., reeling from a first-quarter sales decline of 43 percent, terminated more than 15 percent of its staff across the board at its Brea, Calif., headquarters and its regional offices, a spokesman confirmed late Wednesday.
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Scrapping incentives boosted new car registrations in Germany, Europe's biggest market, even more in March as sales leaped 40% to around 401,000 units.
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Toyota Motor Corp. is going for the jugular with its redesigned Prius, setting a 2.05 million yen starting price ($20,750) in Japan that is on par with the newly released Honda Insight.
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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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