Auto News 5

Hopes of a pre-Christmas rescue of Detroit's Big Three automakers - in particular General Motors and Chrysler which are fast running out of cash - faded last night after a Democrat-sponsored bill that passed the House of Representatives was torpedoed by Republicans in the Senate by 52 votes to 35 with 10 Republicans joining 40 Democrats and 2 independents in favour. Full story...

Amidst the doom and gloom there is some positive news from Daimler. It has acquired a 10% stake in Russian truck manufacturer Kamaz for US$250m. Full story...

The German automotive industry trade association, Verband der Automobilindustrie (VDA) is considering setting up a fund to support suppliers in trouble. Full story...

High debt levels are causing concern at German automotive supplier Continental and Schaeffler, which is in the process of taking it over. Full story...

Workers at General Motors' Opel could take a stake in the company in return for concessions, a magazine said Friday. Full story...

Talks between the German government and carmaker Opel are continuing and Berlin stands ready to decide on providing guarantees to the company before Christmans if it needs help, the Economy Ministry said on Friday. Full story...

Volkswagen's Czech unit Skoda will halt work on Fridays in the first half of 2009 due to the lasting financial crisis, Czech news agency CTK reported, citing a spokesman. Full story...

Ford Focus Revealed, VW Scirocco, Mercedes Fascination Driven, Lambo Powered Audi R8, Honda's Hybrid revealed Full story...

The Senate late on Thursday failed to craft a Detroit 3 bailout that would have rolled back UAW wages and benefits to the level of North America's transplant automakers. Full story...

The U.S. Treasury Department maintains that a $700-billion bailout fund approved by Congress is best used in trying to stabilize the nation's troubled financial sector and a spokeswoman indicated on Thursday night that was unlikely to change. Full story...

The U.S. Treasury Department maintains that a $700-billion bailout fund approved by Congress is best used in trying to stabilize the nation's troubled financial sector and a spokeswoman indicated on Thursday night that was unlikely to change. Full story...

Chrysler LLC's suppliers have begun asking for cash on delivery for auto parts, the Associated Press reported late Thursday, citing an interview with executives. Full story...

The World Motor Sport Council of the FIA met in Monaco on December 12, 2008. The following decisions were taken in regards to the future of Formula 1. Full story...

Late yesterday night, the U.S. Senate failed to pass a $14-billion rescue package for the Big 3. This morning, the Bush Administration announced it is considering providing help with money from the Wall Street bailout to prevent the collapse of the automakers. Full story...

As already announced, the 2010 World Rally Cars will be based on S2000 machinery. Full story...

Organisers of the German grand prix at Hockenheim have imposed a deadline of March 31 2009 to decide whether formula one will ever return to the circuit. Full story...

The World Motor Sport Council of the FIA met in Monaco on December 12, 2008. The following decisions were taken in regards to the future of Formula 1. Full story...

Adam Parr, the Williams chief executive, has admitted he regrets making "stupid" comments about the risk of formula one losing another team before the start of the 2009 season. Full story...

Marco Andretti will be back with the Andretti Green Racing squad in 2009 as team AGR confirmed that they have completed their four-car IndyCar Series line-up for next season. Full story...

The automotive world is shrinking by the second. After Volkswagen, BMW is now selling diesel-powered cars in North America. A 3-Series sedan called 335d and a new variant of the X5 known as the xDrive35d are now part of the brand's portfolio. Wolfsburg's TDI monopoly will soon be no more. A new market segment is fast emerging and the 2009 BMW 335d, the first premium compact sedan to run on diesel in Canada, represents the tip of this iceberg. Full story...