Auto News 5

Hyundai Motor has unveiled its new Equus luxury sedan in Korea. Full story...

Shanghai Volkswagen (SVW) is the latest Chinese maker to significantly reduce its car prices in order to win business amid slower demand. Full story...

Proton is planning a monthly production of 3,000-3,500 units of its new Ezora MPV, starting from March, according to a report carried by the Bernama news agency. Full story...

Isuzu is planning an assembly plant in Cuautitlan, Mexico, according to the Nikkei newspaper. Full story...

FAW Toyota, a joint venture between Toyota and FAW Group, has announced a goal of selling 380,000 units in 2009, a total that would be 8% up on 2008. Full story...

India's Motherson Sumi Systems plans to complete the purchase of troubled rearview mirror maker Visiocorp by the end of the month. Formerly called Schefenacker, Visiocorp is a key supplier to Ford Motor, General Motors, Volkswagen and Daimler. Full story...

Opel and Vauxhall will collapse within two years if they remain part of General Motors, workers' leaders have warned. Union leaders say GM's revival plan - due to be presented to the U.S. Full story...

Daimler today reported a disastrous fourth-quarter loss weighed down by significant losses and charges at Chrysler. Daimler swung to a loss before interest and tax (EBIT) of 1.95 billion euros ($2.47 billion) in the fourth quarter of 2008. Full story...

Swiss auto parts and textile company Rieter has reached an agreement with a group of banks for medium- and longer-term financing, the group said today. Full story...

Most US auto eyes will be on Washington DC this afternoon (GMT) when General Motors and Chrysler submit final restructuring/viability plans to the US treasury as part of the conditions of a first tranche of bailout loans at the turn of the year, and more help expected to be made available today. But nervous eyes will be watching from this side of the Atlantic, too as GM's European brands brace for the effects of the parent company's survival plan. Full story...

Bertrand Peugeot who oversaw the merger of the French car companies Peugeot and Citroen has died, aged 85. Bertrand Peugeot became vice chairman of Peugeot's supervisory board in 1972. Full story...

Bertrand Peugeot who oversaw the merger of the French car companies Peugeot and Citroen has died, aged 85. Bertrand Peugeot became vice chairman of Peugeot's supervisory board in 1972. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...

General Motors is to present a survival plan to the U.S. government today, showing officials how it plans to cut costs and pay back billions of dollars of bailout loans. Full story...

Sichuan Auto Industry Group Co, a tiny automaker in southwest China, has no interest in buying General Motors' Hummer unit, a senior company executive said. Full story...

Sichuan Auto Industry Group Co, a tiny automaker in southwest China, has no interest in buying General Motors' Hummer unit, a senior company executive said. Full story...

Even though Toyota Motor Corp. touts its mighty Tundra pickup as "the truck that's changing it all," workers who build it in San Antonio are not immune from the threat of layoffs that have beset the Detroit 3 automakers. Opening the $1. Full story...

Robert Doornbos, who's been at the center of a lot of speculation regarding his future in the IndyCar series, should make an announcement today so that he may finally be able to reveal his programme for the coming season. Full story...

NASCAR Sprint Cup driver Jeff Burton will trade in his fire suit and helmet for an acting role on ABC's General Hospital. Full story...