The German government is not aiming to take a stake in troubled carmaker Opel, but may give the General Motors' unit aid to help it survive, Chancellor Angela Merkel said on Sunday.
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The big German automakers may not show up in October for the Tokyo motor show.
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German Economy Minister Karl-Theodor zu Guttenberg said on Saturday he was talking to potential investors in General Motors' Opel unit, rejecting a media report saying there were no serious bidders yet.
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France's Renault opposes the idea of issuing new AvtoVAZ shares because the move would dilute its 25 percent stake in the struggling Russian carmaker, Renault's regional chief said on Friday.
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British van maker LDV has warned that it will have to call in administrators within days if it does not get a loan from the taxpayer, but the government stuck to its view that its Russian parent should bail it out.
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BMW is searching for a technology partner for its hybrid car batteries, said Klaus Draeger, the company's head of rand#38;d.
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Daimler will raise 1.95 billion euros ($2.67 billion) in fresh capital through the sale of a 9.1 percent stake to Abu Dhabi's Aabar Investments PJSC the two companies said on Sunday. Some 96.
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Volkswagen's Czech brand Skoda said it has postponed its plans to enter the ASEAN market, which includes Malaysia, Thailand, Indonesia and the Philippines and has annual sales of about 1.8 million vehicles.
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Analysts today said Daimler's move to raise billions of euros in fresh capital shows how badly European automakers need cash in the current weak economic climate. Daimler said on Sunday it will raise 1.95 billion euros ($2.
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Ford Motor Co. and its dealers will spend the next several weeks brainstorming ways to save money. The aim is to trim expenses and streamline operations for both Ford and the dealers.
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The big German automakers may not show up in October for the Tokyo motor show.
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Heavily-indebted German supplier Schaeffler Group has presented a restructuring plan to its creditor banks, co-owner Georg Schaeffler said in an interview with Der Spiegel magazine released on Saturday.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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German carmaker Daimler said on Sunday it was increasing its share capital by 10 percent to allow Abu Dhabi's Aabar Investments PJSC to become a major investor in the company. Aabar was acquiring all the new shares in a total investment of 1.
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Analysts today said Daimler's move to raise billions of euros in fresh capital shows how badly European automakers need cash in the current weak economic climate. Daimler said on Sunday it will raise 1.95 billion euros ($2.
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China will concentrate more power in the hands of fewer auto and steel companies, the government said in unveiling its most concrete plans yet for reform of the two industries.
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Bondholders holding some $27 billion of General Motors debt on Sunday sent a letter to the White House task force overseeing the bailout of the auto industry to register concern with the lack of progress in GM's debt-restructuring talks.
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After admittedly losing its way for years, Mercedes-Benz says it has a new determination to make the customer king in dealerships.
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Mercedes-Benz, defying a worldwide decline in auto sales, is preparing to expand its U.S. plant. Plans include a $290 million (214 million euros) investment at the Vance, Alabama, factory.
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Here are profiles of six of the 25 finalists in the 2009 Automotive News PACE Awards.
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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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