In 1993, Dick Colliver figured he was through with the day-to-day fray in the car business. He was off by 16 years. After two decades at Mazda, he bowed out as group vice president and general manager for the U.S.
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In a sign of how far industry expectations have dropped, an annual retail sales pace of around 8.5 million vehicles has become a comfort of sorts for desperate auto executives.
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As credit stays tight, lenders are canceling some auto dealers' credit lines to buy new vehicles, raising interest rates on inventory loans and demanding that dealers put more equity into their businesses.
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It's official: North American employment at the Detroit 3 has been cut in half in this dismal decade. That's more than 250,000 jobs in eight years and#x2014; vanished. And it doesn't count jobs that have disappeared at suppliers or dealers.
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Some well known names in auto retailing have surfaced on a newly published list of victims of alleged New York swindler Bernard Madoff. Among them, according to documents filed in the U.S.
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How to do away with a damaged brand? One way is the Isuzu way: Starve dealers of product over a long period and dribble out the bad news in small doses. At least it has proved to be a relatively inexpensive way to dismantle a sales network.
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Late this week, Saturn dealers likely will get a narrowed-down list of options for the troubled General Motors brand.
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Prepare for a slugfest in the business of transmitting credit applications electronically. ADP Dealer Services and Reynolds and Reynolds Co.
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Last year, Nissan dealer Ray Dixon lost his dealership in Orange County, Calif. A dealer losing a store is becoming all too common in the United States.
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At the Washington Auto Show, cars shared the spotlight with some ominous warnings. Auto dealers predicted the U.S. economy won't recover until consumers start buying vehicles again.
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BMW managed to meet its reduced outlook for a 2008 profit although revenue declined as the credit crisis plunged global car markets into a tailspin. BMW's top line fell 5 percent to 53.2 billion euros ($68.2 billion).
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The family that owns German supplier Schaeffler hopes to sell a stake in the company to reduce heavy debts that financed its acquisition of Continental.
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The British government is studying car scrapping schemes introduced in other European countries to boost demand for new models but is not certain they would work
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General Motors is launching a program to whittle inventory by enticing dealers with bonus cash for taking more stock. But some dealers fear GM is trying to push vehicles on them that they can't sell.
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The British government is studying car scrapping schemes introduced in other European countries to boost demand for new models but is not certain they would work, a spokesman for Prime Minister Gordon Brown said on Friday.
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The Obama administration is talking with U.S auto industry about more help, but no decisions are expected until General Motors and Chrysler LLC submit turnaround plans to the government Feb. 17, a White House official said on Friday.
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Audi of America President Johan de Nysschen says the United States and its small-equals-cheap mentality isn't ready for premium subcompacts such as the Audi A1, which goes on sale in Europe in 2010.
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Auto123.com contacted long-time friend Peter Windsor to have some additional information the creation of the US-based Formule 1 team for next year.
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The Volkswagen Passat is one of those vehicles that fail to inspire at first glance yet their classic elegance becomes more and more apparent as you approach them. Clearly, company designers showed restraint when they penned the lines of this midsize family wagon, focusing instead, and understandably so, on the all-important little details.
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The Adrian Newey-penned Red Bull Racing RB5 Formula 1 car was launched on Monday in Jerez, Spain.
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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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