The Canadian Auto Workers said on Monday that its members voted overwhelmingly in favor of a new contract with General Motors that will put the company's labor costs on par with those at Toyota Canada's non-unionized plants.
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Chrysler LLC on Monday slammed Indiana State Treasurer Richard Mourdock as making demands that would ultimately push the carmaker into liquidation -- resulting in the loss of more than 4,000 jobs and 9,000 retiree pensions in Indiana alone.
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Audi AG is the only German premium automaker that has committed to giving its workers a profit-sharing bonus for 2008. The German automaker will pay 157 million euros in bonuses by the end of this month.
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Audi AG is the only German premium automaker that has committed to giving its workers a profit-sharing bonus for 2008. The German automaker will pay 157 million euros in bonuses by the end of this month.
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Volkswagen AG will consider forming a partnership with China's BYD Co. in the area of hybrids and electric vehicles powered by lithium-ion batteries, Europe's largest carmaker said on Monday.
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Volkswagen AG will consider forming a partnership with China's BYD Co. in the area of hybrids and electric vehicles powered by lithium-ion batteries, Europe's largest carmaker said on Monday.
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Fiat CEO Sergio Marchionne is trying to convince General Motors and the German government that Opel will be better off with his "no-cash, no-debt" deal than a rival proposal that includes a one-time injection of money. Fiat S.p.A.
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Porsche confirmed on Monday it got a 700 million euro ($980 million) loan from its Volkswagen unit but insisted it could cope with its debt woes.
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Porsche confirmed on Monday it got a 700 million euro ($980 million) loan from its Volkswagen unit but insisted it could cope with its debt woes.
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Germany will decide on a preferred bidder for General Motors unit Opel by the middle of the week, after holding a final round of talks with suitors Fiat, Magna International and RHJ.
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The German government will likely settle on a preferred bidder for General Motors' Opel unit by the middle of the week, Chancellor Angela Merkel's spokesman said on Monday.
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The German government will likely settle on a preferred bidder for General Motors' Opel unit by the middle of the week, Chancellor Angela Merkel's spokesman said on Monday.
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Ford-owned Volvo Car Corp. and the Belgian region of Flanders will examine the latter's offer of 200 million to 300 million euros ($280 million to $420 million) in loan guarantees for the carmaker.
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Ford-owned Volvo Car Corp. and the Belgian region of Flanders will examine the latter's offer of 200 million to 300 million euros ($280 million to $420 million) in loan guarantees for the carmaker.
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Ford-owned Volvo Car Corp. and the Belgian region of Flanders will examine the latter's offer of 200 million to 300 million euros ($280-$420 million) in loan guarantees for the carmaker.
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Porsche's shares fell more than 7 percent in early trading on Monday, weighed down by concerns over the automaker's financial health. Financing woes have forced Porsche to abandon a full takeover of Volkswagen AG.
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Porsche's shares fell more than 7 percent in early trading on Monday, weighed down by concerns over the automaker's financial health. Financing woes have forced Porsche to abandon a full takeover of Volkswagen AG.
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Porsche confirmed on Monday it got a 700 million euro ($980 million) loan from its Volkswagen unit but insisted it could cope with its debt woes.
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General Motors' Opel unit could go bankrupt but this would be the worst possible scenario, the premiers of North-Rhine-Westphalia and Opel's home state of Hesse said on Monday.
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General Motors' Opel unit could go bankrupt but this would be the worst possible scenario, the heads of North-Rhine-Westphalia and Opel's home state of Hesse said on Monday.
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