Volkswagen Group has reportedly reached agreement with Chinese local partner FAW Group to increase its holding in their car-making joint venture to 49% from 40%.
Executive pay restrictions imposed by the federal government as part of Chrysler's bailout have lifted with the company's exit from U.S. ownership last week. But CEO Sergio Marchionne says that does not mean the company will loosen the purse strings.
Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans.
Chrysler Group posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. The automaker had recorded its first post-bankruptcy profit three months ago.
International technology entrepreneur, Boris Zingarevich has purchased electric car manufacturer, Think Global after it had filed for bankruptcy.
Controversial salary negotiations between French foundry unions and management that could see swingeing cuts of 15% imposed, have been put back to the beginning of September.
Auto dealer Asbury Automotive Group reported higher second-quarter earnings today as vehicle margins increased. Asbury, which operates about 80 dealerships in the United States, reported net income of $14.
Ford on Tuesday reported second quarter net income of $2.4bn, or 59 cents per share, down $201m year on year. Pre-tax operating profit slipped $64m to $2.9bn or 65 cents per share.
Ford, hurt by rising commodity prices and higher product development costs, reported a decline in second-quarter net profits to $2.4 billion.
Ford reported a decline in second-quarter profits today. The automaker was hurt by rising commodity prices and higher product development costs.
The 19th International Indonesia Motor Show (IMS) got under way at the weekend amid bullish sentiment on the prospects for the local vehicle market.
The 19th International Indonesia Motor Show (IMS) got under way at the weekend amid bullish sentiment on the prospects for the local vehicle market.
Dongfeng Honda Automobile, one of Honda's car production and sales joint ventures in China, has built its millionth unit.
Saab says it has a team already on the ground in China working with distributor Pang Da, although it was unable to confirm reports it had also sent engineers to work with potential manufacturing partner Youngman.
Honda has released photos of a production ready looking CR-V 'concept' ahead of the redesigned, fourth-generation SUV's global debut at the Orange County International Auto Show in Anaheim, California, in September. US sales will start by the end of the year, American Honda Motor said.
Dutch navigation system producer TomTom has slumped to a steep second quarter loss as the market for personal navigation devices continues to deteriorate.
All new compact exec gets sharper look and ultra-frugal engines
Nissan, the largest Asian automaker in China, plans to invest 50 billion yuan ($7.8 billion) there by the end of 2015, as it accelerates its expansion in the world's largest auto market.
Nissan plans to nearly double its annual sales in China to 2.3 million vehicles by the end of 2015, as it accelerates its expansion in the world's largest auto market. The company plans new investment of 50 billion yuan ($7.
Chery is planning an assembly plant in Argentina in a joint project with the local Socma group according to La Nacion newspaper.
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