Race team owner and automotive entrepreneur Roger Penske is a possible bidder for General Motors' Saturn brand, The Wall Street Journal reported this evening on its Web site, citing people familiar with the situation.
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Roger Penske is considering a bid for General Motors' Saturn brand, a source familiar with the auto entrepreneur's plans said today.
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Penske Automotive Group Inc., which is considering a bid for General Motors' Saturn brand, reported today that net income plunged by 50 percent in the first quarter as industry sales rates hit 30-year lows.
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GMAC LLC today reported a first-quarter loss that was 15 percent larger than a year earlier, reflecting an increase in soured loans as the economy weakens.
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Nissan is overhauling its British retailing operation by offering dealers specialist high-performance, 4x4 (SUV), plus combined fleet and van franchises in a new strategy outlined to the network at a recent dealer conference.
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There were conflicting reports today about Saab's future under a proposed Chrysler-Fiat-GM Europe alliance.
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A United Auto Workers-aligned healthcare trust would quickly sell shares it would receive in a new Chrysler as soon as it could, union president Ron Gettelfinger has said.
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Fiat is looking at taking over General Motors' operations in Latin America as well as those in Europe and discussions on a possible deal are under way, an industry source has said.
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US light vehicle sales in April fell 34.3% to 817,287 units with car sales off 35% to 429,770 units and light trucks down 33.5% to 387,517 units. March sales fell 34.2% year on year to 855,348 units.
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Fiat plans to keep all German Opel plants open should its GM Europe takeover plans succeed but would cut the number of workers, Fiat chief executive Sergio Marchionne has said.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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Social cost could trip up Fiat chief executive Sergio Marchionne's plans to merge his firm with Opel, then spin off and list the merged entity.
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Chrysler has won interim approval from a US bankruptcy court to access a US$4.5bn loan as it tried to move ahead in its planned alliance with Fiat.
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Fiat chief Sergio Marchionne has outlined plans to merge Fiat, Chrysler and General Motors Europe into a new automotive group generating annual revenues of around EUR80bn and making 6-7m cars a year.
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Chrysler vice-chairman and president Tom LaSorda last week retired with immediate effect, the automaker said in a statement.
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Chrysler's Chapter 11 bankruptcy protection announcement last week may cause more supplier bankruptcies and will continue to drag down the domestic automaker's image, the Society of Automotive Analysts said.
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New-car registrations in Germany rose by 19.4 percent to nearly 380,000 units in April as motorists continued to cash in on a government incentive to scrap old cars and buy new ones.
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New-car registrations in Germany rose by 19.4 percent to nearly 380,000 units in April as motorists continued to cash in on a government incentive to scrap old cars and buy new ones.
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