The Canadian Auto Workers union has given the green light to contract talks with the major US automakers as their restructuring process continues in the coming weeks.
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Honda's UK factory, which builds Civic hatchbacks and CT-V SUVs, and is scheduled to add the Jazz (Fit) later this year, on Friday assembled its last cars before a four-month shutdown as its Japanese parent posted an 89.9% fall in third quarter net profit and halved its full year earning forecast.
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Give a company a serious crisis to deal with once in a while and it's amazing how much money it can save. Ford took $5bn of costs from Ford US last year while losing $1.9bn on that business in the last quarter.
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In relation to the movement of goods, the beginning of the 20th century could be seen as the golden age of rail freight. The beginning of the 21st century will be seen in decades to come as the equivalent in road freight transport. In terms of serving the needs of consumers in both the industrialised and the developing markets of the world, trucks in their great variety can be seen as the key link between physical goods and the consumer. This feature has been exclusively supplied to us from SupplierBusiness.
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Russian car maker GAZ Group is in a difficult situation and the government will discuss support measures on Tuesday next week, Russian Deputy Prime Minister Igor Shuvalov told reporters on Friday.
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Porsche Automobil Holding said it expects first-half operating profit at its core sports car business to decline sharply, but positive effects from its Volkswagen stake will ensure group pretax earnings grow. Porsche, which owns 50.
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Honda has posted a grim result for its third fiscal quarter ended 31 December with operating profit off 63% and net profit down almost 90%. The company cited falling vehicle sales and unfavourable currency exchange rates as the main reasons.
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Honda has posted a grim result for its third fiscal quarter ended 31 December with operating profit off 63% and net profit down almost 90%. The company cited falling vehicle sales and unfavourable currency exchange rates as the main reasons.
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German carmaker Volkswagen will axe 400 jobs in South Africa as it scales back production due to falling demand in its home market and for exports.
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This month's new vehicle sales (including fleet) in the United States are expected to be down 30.1% year on year to 730,000 units, analysts at Edmunds.com have forecast.
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Fitch Ratings downgraded its ratings on Daimler and said it expects the car company's performance for this year and next to be much weaker than previously expected.
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Honda Motor lowered its annual profit forecasts for a fourth time this year, while rival Toyota Motor's losses are growing as sliding global car sales force the industry to scale back production further.
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Spain's government is studying plans to help its struggling car manufacturers. including postponing social security payments for up to five years, Spain's Cinco Dias newspaper reported on Friday.
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Plunging sales in North America and Europe sent operating profit at Honda Motor Co. falling 63 percent in the third quarter, pushing the company to slash its outlook again. Honda now expects operating profit of 140 billion yen ($1.
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Allison Transmission has broken ground on a new India facility designed to meet growing global demand for Allison automatic transmissions.
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Nico Rosberg has hit out at F1's current minimum weight rule.
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Ford has reported a net loss of nearly $6 billion dollars, or $2.46 per share, for the last three months of 2008. The loss included $3.7 billion from continuing operations, and of course came as a result of steadily declining global automobile sales. Ford lost $620 million dollars during the same period in 2007.
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Michael Schumacher has conceded that F1's newly-imposed in-season testing ban will probably mean less or no running for him in 2009.
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