VW will buy a one-fifth stake in Suzuki for $2.5 billion, giving it access to the Japanese firm's expertise in small cars and dominance in India. Suzuki plans to invest up to half of the stake sale proceeds in VW shares.
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Volkswagen AG said on Wednesday that it will buy a 19.9 percent stake in Japan's Suzuki Motor Corp. for $2.5 billion. Suzuki will use half the proceeds to buy shares in the Europe's largest automaker.
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Volkswagen will buy a one-fifth stake in Suzuki for $2.5 billion, giving it access to the Japanese firm's expertise in small cars and dominance in India as it seeks to become the world's top automaker.
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France, Germany and other European nations have created overcapacity by subsidizing the auto industry, a problem that should be fixed by streamlining the sector as the United States has done, Fiat S.p.A.
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France, Germany and other European nations have created overcapacity by subsidizing the auto industry, a problem that should be fixed by streamlining the sector as the United States has done, Fiat S.p.A.
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A new lineup of small cars slated for U.S. showrooms next year may create an oversupply of compact vehicles at a time when gasoline prices remain stable, an industry forecasting firm said on Tuesday.
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France, Germany and other European nations have created overcapacity by subsidizing the auto industry, a problem that should be fixed by streamlining the sector as the United States has done, Fiat S.p.A.
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Ford Motor Co. is considering an investment of $300 million to $500 million in Michigan assembly plants as it continues development of hybrid and electric vehicles and batteries.
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Chrysler Group is willing to let market share slide in the short term to further its longer restructuring goals, CEO Sergio Marchionne said in a presentation of his business plan to members of Congress on Tuesday.
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A new lineup of small cars slated for U.S. showrooms next year may create an oversupply of compact vehicles in the U.S. market at a time when gas prices remain stable, an industry forecasting firm said on Tuesday.
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Car sales in Russia fell 46% year-on-year in November to 105,302 units, a slightly better showing than the 52% slide reported for October. A slump in demand for cars has cut Russian sales by 50% in January-November 2009.
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France, Germany and other European nations have created overcapacity by subsidizing the auto industry, a problem that should be fixed by streamlining the sector as the United States has done, Fiat S.p.A.
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Shares of Suzuki Motor Corp. rose nearly 4 percent a day after sources told Reuters that Volkswagen AG is planning to take a stake of up to 20 percent in the Japanese automaker.
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French auto parts supplier Plastic Omnium Co. raised its fourth-quarter sales forecast on Tuesday after benefiting from higher car sales due to consumers buying before car-scrapping schemes are phased out.
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Car sales in Russia fell 46 percent year-on-year in November to 105,302 units, a slightly better showing than the 52 percent slide reported for October, data from the Association of European Businesses showed on Tuesday.
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Insurance Bureau of Canada (IBC) released its annual list of the most frequently stolen vehicles today. While a Honda Civic held on to the top spot, the appearance of high-end models like the Cadillac Escalade on the list reflects the increasing involvement of organized crime in auto theft.
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World Rally Championship convert Kimi Raikkonen will make his competitive debut in a Citroen C4 on January's Arctic Lapland Rally - a fortnight before his 2010 WRC campaign kicks off in Sweden.
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California is arguably the cradle of the green movement and, consequently, the Los Angeles Auto Show is North America's premier green car event.
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Tony Fernandes, Team Principal of the new Lotus F1 Racing team delivered the major address on the first day of the 2009 Motor Sport Business Forum in Monaco.
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Ford team leader Mikko Hirvonen has won the 2009 Bettega Memorial Rallysprint, which concluded on Tuesday afternoon at the Bologna Motor Show.
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