The US National Highway and Traffic Safety Agency (NHTSA) will not conduct an additional investigation of unwanted and unintended acceleration of model year 2007 Lexus ES350 vehicles and model years 2002-2003 Lexus ES300 after an extensive technical review of the issue, including interviews with consumers who had complained of unwanted acceleration.
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Honda Motor plans to reduce its cost structure in Japan to be able to break even there using just 70% of its capacity, a top official has said.
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GMAC Financial Services reduced its third-quarter net loss to $767 million from $2.5 billion for the same period last year and from $3.9 billion in the previous quarter this year.
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GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, today said it posted a third straight quarterly loss, hurt by red ink in its mortgage business.
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U.S. light-vehicle sales--bolstered by General Motor Co.'s first gain in 21 months--declined less than 1 percent in October as the industry showed signs of a recovery without the aid of government incentives.
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Britain's Unite union on Wednesday welcomed the decision by General Motors Co. not to sell its European Vauxhall unit, saying it was a "far better deal" and that it expected the government to offer financial support.
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Daimler plans to cut 1,000 jobs at its Mercedes-Benz Cars premium division by offering a variety of buyout packages to staff, the German carmaker said on Wednesday.
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Daimler AG plans to offer several thousand employees a payoff if they leave the company voluntarily. The carmaker could spend hundreds of millions of euros on the severance packages, sources said.
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Hyundai Kia Automotive Group's annual overseas output rose above 1.5m units for the first time, industry data showed.
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The U. S. Patent and Trademark Office this week approved a new winged logo for the Chrysler brand, according to the Detroit Free Press. As reported last month by Allpar.
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October Canadian car sales were the best for a month so far this year in October and were down 1% year on year to 121,500 units, according to DesRosiers Automotive Consultants data.
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Russian Prime Minister Vladimir Putin hinted the battle for carmaker Opel was not over, saying it was the trust overseeing Opel, not the board of General Motors Co., its parent, that should decide any further steps.
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GM's decision to keep Opel means the U.S. automaker must secure 3 billion euros to turn around its European operations.
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General Motors Co. has abandoned a deal to sell its European operations to a group led by auto supplier Magna International Inc.
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General Motors Co. is right keep Opel, Dirk Pfeil, a member of the trust overseeing the German-based GM division, said. "I consider it to be the right move," Pfeil said.
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With Russia's car market in the doldrums, hopes that a scheme to encourage the replacement of old cars with new ones will kick-start the market are facing some doubts that it will be very effective.
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Shanghai-based SAIC, partner of GM and VW in China and owner of SAIC Motor, China's biggest automaker, plans to invest RMB6bn (US$879m) to develop and manufacture clean energy vehicles between now and 2011, the official Xinhua news agency said, quoting SAIC chairman Hu Maoyuan.
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