Ally Financial Inc. filed for an initial public offering of the U.S. government's majority stake as part of the auto and home lender's plan to regain its independence.
Kia pulls the wraps from new electric supermini at the 2011 Seoul Motor Show.
PSA Peugeot-Citroen says lessons learned from the economic crisis have led it to recruit only short-term extra 300 staff for 206+ and 308 models at the Mulhouse plant in Eastern France.
Kia continues to explore its electric-car capabilities with the Naimo small-car concept, unveiled on Thursday at the Seoul motor show.
South Korean Renault unit Renault Samsung has said Wednesday it would cut output by about 20% next month due to a shortage of parts from quake-hit Japan.
Driver assistance technologies provide a helping hand in times of trouble. Electronic driver assistance systems are increasingly being incorporated in cars across the board, from luxury vehicles to small city cars.
Vehicle output in Japan fell 5.5% in February from a year earlier to 795,632 units. It was the fifth consecutive monthly fall since Tokyo ended subsidies for buyers of environmentally-friendly cars.
Hyundai and Kia will provide more than US$400m to support its supplier base this year. The pledge was made at a ceremony attended by almost 1600 suppliers; the annual ceremony marks the Hyundai Group and its suppliers commitment to engage in fair trade practices.
Meritor said on Thursday it would close its European trailer axle business on 31 July, 2011 and estimated that charges in the range of US$17m to $23 million would result over the next year, $12m to $18m in cash.
Meritor, which has just changed its name from ArvonMeritor, is revising guidance for its second quarter of fiscal year 2011.
General Motors Co. has unveiled a sporty South Korean-developed concept car that showcases a "mid-electric" hybrid powertrain that can run on electric-only front-wheel drive or tap a gasoline engine to turn the rear wheels for extra power.
General Motors Co. has unveiled a sporty South Korean-developed concept car that showcases a "mid-electric" hybrid powertrain that can run on electric-only front-wheel drive or tap a gasoline engine to turn the rear wheels for extra power.
Sweden's Debt Office said on Thursday it would take weeks for it consider an application by Russian businessman Vladimir Antonov to take a stake in money-losing carmaker Saab.
Ally Financial, the former GMAC, has completed the refinancing of US$15bn in credit facilities at both the parent company and at its banking subsidiary, Ally Bank, with a syndicate of 21 lenders. The secured facilities can be used to fund retail, lease and dealer floorplan automotive assets in the US and Canada, the financier said.
General Motors has said it will spend over US$30m on tooling and equipment at its Pontiac stamping plant to improve manufacturing capabilities, retaining 290 hourly and salaried jobs.
Hyundai Motor Co. has unveiled a hydrogen fuel cell concept vehicle called the Blue2 that takes the South Korean automaker deeper into alternative-drivetrain territory.
Hyundai Motor Co. has unveiled a hydrogen fuel cell concept vehicle called the Blue2 that takes the South Korean automaker deeper into alternative-drivetrain territory.
Honda said on Thursday (31 March) it would resume production of finished automobiles at its Sayama and Suzuka factories on Monday, 11 April. All production plants in Japan will be in operation as of that date.
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