Top Australian auto parts supplier Autodom was thrown a lifeline today when local units of Ford Motor and General Motors agreed to underwrite the company's $6.5 million debt to avoid a crippling vehicle production shutdown.
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14 Jan, 2013
Maserati has revealed the new Quattroporte at the Detroit Motor Show
News
7 Nov, 2012
Figures show that more than 150,000 new cars were registered last month
Renault says its meeting with all its major unions due to start imminently (6 November) in Paris, will be the first of several such discussions to address the automaker's performance.
October new car registrations took the New Zealand market year to date tally past last year's 64,019 vehicles to 64,285 units. October sales were the second strongest this year and up 35% (1,908 units) on October 2011 - 7,336 versus 5,428.
Data released by South Africa's auto industry trade association, Naamsa, shows that new vehicle sales increased by 10.5% year-on-year in October to 57,845 units.
Volkswagen has sold 2.5 billion euros ($3.2 billion) in bonds in order to boost liquidity after recently adding Porsche and Ducati to its brand portfolio.
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7 Nov, 2012
Comparison sites promise big savings, but do they give you the best deal?
BMW said revenues for the three-month period from July to September 2012 rose 13.7% to EUR18,817m (2011: EUR16,547m). EBIT increased 13.8% to EUR2,004m (EUR1,761m). EBT improved 17.6% to EUR1,987m (EUR1,689m). Net profit was 16.0% up at EUR1,289m (EUR1,111m).
Nine-speed transmissions might have reached the 'natural limit' because going beyond that number of gears adds weight and complexity that cannot be offset by gains in fuel efficiency, ZF Friedrichshafen CEO Stefan Sommer said.
UK new-car sales rose 12.1 percent to 151,252 in October, in stark contrast to other major European markets that saw big drops in demand.
The UK new car market continued to buck the trend in Europe as a whole in October as it posted growth of 12.1% on last year.
Russian Railways (RZD) has inked the contract to acquire 75% of PSA Peugeot Citroen's logistics subsidiary, GEFCO, for EUR800m (US$1.02bn) that will be used to pay down the automaker's major debt.
Strong growth in vehicle sales in Australia continued in October, distinguished yet again by consumers' continued preference for sports utility vehicles, according to official VFACTS data released from the Federal Chamber of Automotive Industries (FCAI)
Although Nissan Motor reported small increases in operating and net profits for its second fiscal quarter to 30 September, it has revised its full year forecasts downward due to the "strong yen, disruption in China and deteriorating market conditions in Europe".
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6 Nov, 2012
The Renault Zoe has won the third annual Brighton-to-London eco race
General Motors secured an $11 billion revolving credit facility, more than doubling its financial cushion and further strengthening the balance sheet of the largest U.S. automaker.
Suzuki's US distribution arm has filed for bankruptcy and said it will exit the US auto market.
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