Billionaire Warren Buffett sought to buy Residential Capital from Ally Financial before the government-owned company put the home lender in bankruptcy, according to three people familiar with the matter.
Brazil is considering measures to facilitate new car loans and bolster local automakers, newspapers reported today, after slowing vehicle sales pushed auto inventories to their highest levels since the 2008 financial crisis.
Facebook may only have itself to blame for why General Motors rained on its IPO parade this week.
The high quality of cars manufactured in Gliwice and the commitment of the factory's staff helped it win the nod as one of two GM Europe plants to build the next Astra from 2015, General Motors Manufacturing Poland's Andrzej Korpak was quoted as saying by Polish News Bulletin.
Toyota Motor plans to expand power generation capacity at its plants in Aichi Prefecture, central Japan, in a bid to cope with possible electricity shortages this summer, company sources have said.
BMW's UK managing director says he believes Greece will stay in the Euro currency as the the South East Europe country's woes continue to create huge bow waves of economic uncertainty for automakers.
Toyota will boost the output of V6 engines at its US plant in Alabama by 2.5 times.
Though Mitsubishi officially calls this Pikes Peak Hill Climb car the i-MiEV Evolution, we've taken to referring to this electro-monster the Zebulon Evo.
Cash rich van maker GAZ Group is planning a 16bn rouble spend on investment projects over the next 18 months.
Subaru maker Fuji Heavy Industries said it would increase production capacity at its Lafayette, Indiana, plant by 15% due to growing demand for the Outback crossover vehicle and Legacy car.
Federal safety regulators are investigating a Texas garage fire that destroyed a Fisker Karma, a $103,000 plug-in electric vehicle.
BMW UK says the flexibility of its British workforce in a challenging economic climate led it to sink GBP500m (US$791m) into future Mini investment.
The Dacia Dokker and Dokker Van have had their global debuts at the Casablanca motor show. Each will be built alongside the related Lodgy minivan at Renault's new Tangiers plant.
Spreading the gospel of Enzo, Ferrari opened its Myth exhibition at the Italian Center in the Shanghai Expo Park on May 18.
Volkswagen of America, riding a 38 percent increase in United States sales this year, has hired Kevin Mayer from General Motors to steer VW brand marketing.
That huge collective sigh of relief you probably heard from Merseyside (and very likely Westminster) yesterday would have been Vauxhall management, workers and politicians greeting the news from General Motors' European unit that the Ellesmere Port Astra plant is good to go until at least around 2020.
Honda is to start hybrid vehicle production in Thailand, following a similar move in the US in April.
BMW is considering new production sites around the world, including eastern Europe, according to media reports on Friday. But a BMW spokesman told Automotive News Europe today that the company has no plans add a new factory in Europe.
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