General Motors executives are hammering out what will be the company's third survival report, to be submitted to the U.S. government next week. GM will give the document to President Barack Obama's task force on March 31.
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General Motors executives are hammering out what will be the company's third survival report, to be submitted to the U.S. government next week. GM will give the document to President Barack Obama's task force on March 31.
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Mitsubishi Motors North America this week eliminated one-fourth of the jobs at its U.S. headquarters in Cypress, Calif., the company confirmed today.
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Mitsubishi Motors North America this week eliminated one-fourth of the jobs at its U.S. headquarters in Cypress, Calif., the company confirmed today.
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General Motors has mandated Commerzbank to help find a new investor for its Opel unit, a source said. A person with knowledge of the process told Reuters: "Commerzbank has received a mandate from GM."
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BMW on Friday confirmed that it will debut a high-performance M version of the X6 crossover at the New York auto show in early April.
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BMW on Friday confirmed that it will debut a high-performance M version of the X6 crossover at the New York auto show in early April.
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BMW on Friday confirmed that it will debut a high-performance M version of the X6 crossover at the New York auto show in early April.
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French supplier Valeo has been weighing whether to raise its share capital to help weather the global car crisis but has not taken a final decision, a source close to the matter said on Friday.
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The Obama administration is likely to pay for the pending automaker bailout from dwindling reserves in its $700 billion rescue fund rather than go to Congress to request new money, experts said.
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The Obama administration is likely to pay for the pending automaker bailout from dwindling reserves in its $700 billion rescue fund rather than go to Congress to request new money, experts said.
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Proton has reportedly seen a jump in its 'Xchange Programme' since the government announced the RM5,000 rebate for customers scrapping their old cars aged 10 years and above to buy national cars.
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Nissan Motor and Renault hope to secure five deals for European electric car projects this year, after signing a deal with Monaco earlier this week, a senior executive said.
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Mitsubishi Motors will start marketing its i MiEV electric vehicle powered by a lithium-ion battery module in July, mainly for corporate customers, company officials said.
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Proton is reportedly close to inking a US$330m deal with Detroit Electric to mass produce pure electric vehicles (EV) using Proton's vehicle platforms.
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The Canadian Auto Workers and Chrysler will continue bargaining at least until Tuesday, after failing to reach an agreement on concessions that are required before the Ontario and Canadian governments can approve more than $2 billion in loans and tax incentives.
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According to the German auto importers' association, the VDIK, the German government sponsored scrappage incentive is continuing to lift the German car market and reduce CO2 emissions from new cars.
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General Motors has not achieved as many buyout or early retirement acceptances as it needs.
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Automotive brakes maker Pacifica Group, controlled by Bosch, expects the crisis in the automotive industry to worsen in 2009, after a dreadful year in 2008.
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Forecasters are predicting that the March sales figures for the US market will make for grim reading.
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