NASCAR: Ganassi Racing in talks with DEI
The two well-known Sprint Cup teams Chip Ganassi Racing and Dale Earnhardt Inc. have entered discussions that could lead to a merger between the two organizations according to reports in the media.
Read moreNASCAR: Andrew Ranger will probably wait for 2009
Young hopeful and 2007 Canadian Tire NASCAR series champion Andrew Ranger won’t probably be back this year in the Nationwide series according to his manager Alan Labrosse.
Read moreNASCAR: Earnhardt Jr’s team to cut one car in Nationwide
Signs of the harsh economic times that will prevail in the near future in NASCAR as Dale Earnhart Jr announces that he will scale down its Nationwide team, JR Motorsports, to only a one car operation next season.
Read moreF1: Talks on for return of US Grand Prix – Nick Fry
According to Honda team principal Nick Fry Formula one officials are in discussions to return the category to North America. And that is not in Montreal…
Read moreGM and Ford investors brace for deep quarterly losses
General Motors and Ford Motor Co. posted more than $27 billion of net losses in the first half of 2008 — and that was before a deepening economic slowdown pushed industry sales to 25-year lows.
Read moreLinamar profit falls 56% on volume slump
Auto parts maker Linamar Corp. reported a 56 percent drop in quarterly profit today as volumes fell significantly and costs climbed. The company, which makes precision automotive components for engines and transmissions, earned C$11.
Read moreCongressional leaders weigh new help for autos
Additional help for distressed U.S. automakers is under consideration by Democratic congressional leaders, but the shape of any assistance and a timeframe for action must await the outcome of today’s election, aides said.
Read moreAnalysts: More North American production cuts needed
North American vehicle sales are falling so precipitously that automakers must accelerate fourth-quarter production cuts or risk an inventory glut by year end, analysts said today.
Read moreLeoni AG lowers profit expectation
For the second time in less than a month, German wiring supplier Leoni AG has cut its 2008 sales and earnings targets.The company, Europe’s No. 1 wiring supplier, blamed global cuts in auto production.
Read moreMazda ALMS team B-K Motorsports shuts down:
American Le Mans Series team B-K Motorsports announced that it will no longer operate, due to the retirement of owner Bob Bach. B-K led the ALMS program for Mazda North American Operations and MAZDASPEED Motorsports Development since 2005.
Read moreMazda ALMS team B-K Motorsports shuts down:
American Le Mans Series team B-K Motorsports announced that it will no longer operate, due to the retirement of owner Bob Bach. B-K led the ALMS program for Mazda North American Operations and MAZDASPEED Motorsports Development since 2005.
Read moreToyota lowers its 2008 U.S. sales forecast
Toyota Motor Corp. lowered its 2008 U.S. sales forecast to a range of 2.2 million to 2.3 million units after it saw October sales drop 26 percent. Bob Carter, General Manager of Toyota’s U.S.
Read moreOil up nearly 11% on Saudi supply cuts
Oil prices jumped nearly 11 percent today on signs Saudi Arabia had made substantial cuts in its crude exports and as global financial markets rallied. Saudi Arabia has reduced exports after OPEC agreed last month to lower output. U.S. crude rose $6.
Read moreSOUTH AFRICA: New vehicle sales down 30% in October
South African new vehicle sales declined by 30.1% to 38,143 units in October compared to the same month last year, the National Association of Automobile Manufacturers (NAAMSA) has said.
Read moreBMW Gina Light Visionary Model – By Design
Don’t Laugh. This Is A Serious Car
Sure, it looks familiar. It should; this brilliant design exercise was done seven years ago, and traces of its lines and vestiges of its surfaces have turned up on numerous BMW concept and production models since. lines that were superb on the 2006 Mille Miglia concept car or that seemed not to make any sense in the grotesque (but very important) X Coupé were established by this concept, which BMW has finally made public.
Photo Gallery: BMW Gina Light Visionary Model – BMW Concept Car – Automobile Magazine
CZECH REPUBLIC: Hyundai i30 output starts
Hyundai Motor Manufacturing Czech (HMMC) has begun volume car production at its new EUR1.1bn US$1.45bn) plant at Nosovice in the east of the Czech Republic.
Read moreHeard uses Web site to find additional bidders
Bill Heard Enterprises Inc. is using a Web site to try to drum up higher bids for four of its stores. The dealership group filed for protection in U.S. Bankruptcy Court in Alabama in September.
Read moreGM moves to end pacts with 3 Heard stores
General Motors wants to terminate its dealership agreements with three more stores owned by bankrupt Bill Heard Enterprises Inc., court documents say. GM wants to end sales points at Chevrolet dealerships in Union City and , Ga., Sandy Springs, Ga.
Read moreSchaeffler ready to sell part of Conti
German partsmaker Schaeffler Group could allow another shareholder to take a large stake in Continental. The company’s co-owner, Maria-Elisabeth Schaeffler, said she does not exclude a strategic investor.
Read moreUS: Pleas for Fed help continue
US automakers’ efforts to get federal assistance to help them through the current period of financial turmoil and flagging sales are expected to resume an urgent pace after Tuesday’s elections, a Detroit newspaper said. Meanwhile, parts makers have joined the automakers – and dealers – seeking help from the government.
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