Germany's Association of International Motor Vehicle Manufacturers, or VDIK, has reported that German new car registrations fell 17.6% on the year in November to around 233,800 units.
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Sales of new cars in Spain plunged 49.6% year-on-year in November to 63,068 units on the back of a sharp economic slowdown, according to ANFAC data.
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SAIC subsidiary SsangYong Motor has reportedly asked for a cash injection from its Chinese parent company.
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The Russian government is preparing new measures to support domestic automobile producers.
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Hopes that the Brazilian auto market was relatively insulated from the global downturn in auto markets are evaporating. Vehicle sales in Brazil have fallen further for the second straight month.
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Proton is exploring the possibility of undertaking CKD assembly operations in Egypt.
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Detroit's Big Three automakers should quit rather than just making pay concessions in return for a US$25bn taxpayer loan, a senior US congressman has said.
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Tyre shipments in the US are projected to decline by more than 6% year on year in 2008 with a further 1% decline predicted for next year, according to the Rubber Manufacturers Association.
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Chrysler president and vice chairman Jim Press is scheduled later today (2 December) to meet Maryland Port Authority employees and state officials to discuss the scope of the auto industry and its local impact from an auto trade perspective.
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Chrysler president and vice chairman Jim Press today (2 December) met Maryland Port Authority employees and state officials to discuss the scope of the auto industry and its local impact from an auto trade perspective.
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Today is D-Day for the Detroit-based 'Big Three' as they unveil their detailed restructuring plans for US lawmakers ahead of congressional hearings on Capitol Hill on Thursday and Friday into their requests for a US$25bn taxpayer-funded bailout.
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Today is D-Day for the Detroit-based 'Big Three' as they submit their detailed restructuring plans to US lawmakers ahead of congressional hearings on Capitol Hill on Thursday and Friday into their requests for a US$25bn taxpayer-funded bailout.
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Today is D-Day for the Detroit-based 'Big Three' as they submit their detailed restructuring plans to US lawmakers ahead of congressional hearings on Capitol Hill on Thursday and Friday into their requests for a US$25bn taxpayer-funded bailout.
Full story...
Wherever you look, prospects in the auto industry appear decidedly downbeat. Not only are the 'triad' markets - North America, Western Europe and Japan - under pressure, but so are the emerging markets that it was hoped would take up the slack. We have undertaken a business assessment of the major vehicle makers and Tier 1 suppliers to consider their prospects.
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Toyota is cutting back production in Japan in response to the downturn in the global vehicle market.
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European Union representatives have reached an agreement on binding CO2 limits for cars that could become law before the end of the year.
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Friedrich Eichiner will become BMW's chief financial officer effective immediately.
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New-car registrations in Germany fell 17.6 percent in November, a trade association said. Germany's VDIK association of foreign carmakers said on Tuesday that new-car registrations in the country fell 17.
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New-car registrations in Germany fell 17.6 percent in November, a trade association said. Germany's VDIK association of foreign carmakers said on Tuesday that new-car registrations in the country fell 17.
Full story...
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