Spanish car sales fell by 41.6 percent in January versus a year earlier, compared to a 49.9 percent drop in sales in December last year, car manufacturers' association ANFAC said on Monday.
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Iranian automaker Iran Khodro (IKCO) has launched new Peugeot Pars automatic and diesel 206 SD models, becoming the first Iranian carmaker to produce diesel-powered passenger cars.
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Iranian automaker IKCO has launched new Peugeot Pars automatic and diesel 206 SD models, becoming the first Iranian carmaker to produce diesel-powered passenger cars.
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General Motors could face a multibillion-dollar tax hit under its $13.4 billion federal bailout, a scenario the automaker faces just weeks before it must file a restructuring plan with the government.
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Auto parts maker Contech LLC said on Friday that it has filed for Chapter 11 bankruptcy protection, citing a downturn in the automobile industry.
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With sales plummeting, and parent General Motors distracted by its home-market woes, Saab's best future is as a spun-off organization, dealers and company insiders said.
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With its survival at stake, the auto show that takes place here in April will adopt a brave new format.
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If there is one automotive technology for which Dutchman Hub van Doorne became world famous, it is the continuously variable transmission.
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Maria-Elisabeth Schaeffler's success in winning control of Continental's supervisory board leaves her with an even tougher challenge: Can the new entity get out from under its mountain of debt?
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With Renault facing projected operating losses, Chief Financial Officer Thierry Moulonguet has relinquished managerial oversight of the 22-market Americas region to concentrate on the carmaker's financial problems.
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Support is growing for a Europe-wide scrappage incentive to boost new-car sales during the economic crisis. Executives at Ford of Europe and PSA/Peugeot-Citroen said they want an expansion of the successful plans launched in Germany and France.
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Car production in Europe this year will fall to levels not seen since the early 1990s -- with disastrous effects for suppliers.
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The accelerating cash burn by Europe's automakers in 2009 could drive them deep into debt and put their income statements into the red. In 2007, the European auto industry held a 30 billion net cash position.
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Volvo posted a $1.47 billion pre-tax loss (1.15 billion) for 2008 last week, further complicating Ford Motor's attempts to sell the Swedish brand. In the fourth quarter, Volvo's loss was $736 million as revenue skidded from $5.1 billion to $3.
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Citroen will unveil this week a global re-branding initiative that introduces a new, "near-premium" product line and calls for wide-ranging changes across its 3,300-dealer global network.
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Hyundai aims to pull out of its sales slump with a first-quarter marketing assault that makes use of several glitzy TV extravaganzas.
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Louis Harrelson's six-store dealership group used the slogan "Everybody rides."
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As hard times settle in, many vehicle manufacturers are backing off costly demands that they usually place on dealers. Chrysler, for example, is again trimming the required size of stores. BMW is relaxing training requirements.
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Chrysler LLC CEO Bob Nardelli says the $3 billion in second-stage federal loan money the company seeks would be used in North American operations even if a proposed Chrysler-Fiat alliance goes forward.
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Automakers and dealers are pushing federal legislation that would pay motorists to trade in old gas-guzzling cars and trucks for more fuel-efficient new vehicles.
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