Toyota on Thursday slashed its annual operating profit forecast by more than half as the financial crisis hits auto demand, cuts access to credit and sends the yen higher.
The Toyota profit machine tumbled to rare losses in North America and Europe, sending President Katsuaki Watanabe into crisis mode as he slashes the company's outlook. Toyota now expects global operating profit to plummet 73.6 percent to 600.
The next Mercedes SLK premium roadster, due in spring 2010, will come with an optional diesel. A Mercedes source confirms that the redesigned SLK will offer the all-new diesel used in the recently launched C250 CDI. That is a 2.
China's once booming car market has gone flat. It's a new experience for Ma Xiaochao, 30, sales manager of a Buick dealership here. "Things are a lot worse than they were this time last year," he says. "I estimate sales are down by roughly one-third."
Ford is focusing its purchasing more closely on its 65 most important suppliers.
The German government has agreed a EUR12bn package to help the domestic automotive industry maintain its competitiveness in the current economic downturn and support employment levels, in particular.
There has been a positive development in the German collective bargaining dispute.
One of the automobile industry's harshest critics has decided to challenge automakers' best known ally on Capitol Hill for the chairmanship of the powerful House Energy and Commerce Committee. Rep. Henry Waxman, D-Calif.
General Motors' North American president is urging the rest of the auto industry to let Washington know the extent of the industry's financial crisis.
Bowing to pressure from Congress and industry, the Bush administration late Wednesday issued rules that could help speed some of the $25 billion in low-interest loans approved in September for automakers and suppliers.
Ford has lifted the veil on the latest arrival in the F-150 lineup, the Raptor SVT. After months of production delays, the SVT is once again joining the pool of production vehicles. Style-wise, the Raptor is very different from the regular production model. Immediately apparent is the imposing grille proudly displaying the manufacturer's name across its length, updated headlamps and integrated taillamps. It also features a slew of badges, both inside and outside the colour-coordinated cabin.
Next year's Formula 1 season is already under way. A third formula one team has just announced it expects to unveil its 2009 car in January next year.
Indian grand prix promoter Suresh Kalmadi has confirmed the country's inaugural formula one race has been delayed until 2011.
Lewis Hamilton's boss at team McLaren Ron Dennis has defended the new world champion in the face of claims he is "arrogant".
This week, Auto123.com features the following road tests: The Ford Mustang Bullitt, a 300-horsepower machine that will take you back to the epic days of Steve McQueen. The 2009 Nissan Murano, a 5-seat SUV whose futuristic design is still turning heads. The Volvo C30 T5 R-Design, a compact hatchback coupe combining luxury and power. Don't miss the video filmed just a few days ago when we tested the 2009 Toyota Venza. Discover the features of this modern SUV, tested for you in Pennsylvania.
New Formula World Champion Lewis Hamilton has issued a quick-fire response to Bernie Ecclestone's claim that recent incidents of apparent racism were over-the-top jokes.
Lewis Hamilton's boss at team McLaren Ron Dennis has defended the new world champion in the face of claims he is "arrogant".
Ford rally team principal Malcolm Wilson says Francois Duval's injured co-driver Patrick Pivato is making good progress in hospital in Japan.
MotoGP star rider, Yamaha Fiat World Champion Valentino Rossi's Ferrari Formula 1 car test will take place over two days later this month at Mugello.
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