Company founder Frank Stronach would pocket $863 million in cash and stock in exchange for giving up his multiple voting shares and ceding control of the company, provided the plan gets shareholder and regulator approval.
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Company founder Frank Stronach would pocket $863 million in cash and stock in exchange for giving up his multiple voting shares and ceding control of the company, provided the plan gets shareholder and regulator approval.
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SENIOR EDITOR FOR NEWS BOB GRITZINGER: Now's here's an xB that an American could live with--one with an engine big enough for the United States, as opposed to those underpowered buckets Toyota originally brought stateside.
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The 4 January rise in UK value added tax (VAT, effectively a sales tax) from 17.5% to 20% imposed in today's emergency post-election budget will add about GBP300 to the average price of a new car, the Society of Motor Manufacturers and Traders (SMMT) told just-auto on Tuesday.
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The 4 January rise in UK value added tax (VAT, effectively a sales tax) from 17.5% to 20% imposed in today's emergency post-election budget will add about GBP300 to the average price of a new car, the Society of Motor Manufacturers and Traders (SMMT) told just-auto on Tuesday.
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News last night that Mazda North American Operations, responsible for marketing, distributing and servicing the brand in the US, Canada and Mexico, has dumped long-serving agency Doner for WPP will resonate with anyone in the auto and marcomms sectors but should not be seen as reflecting badly on the outgoing incumbent.
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Mazda's Irvine, California-based North American unit last night said it was dropping long-serving ad agency Doner (which created the 'Zoom Zoom' tagline) for the WPP group.
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The first part of the Russian government's 'cash for clunkers' scrappage scheme has now finished with the budgeted allocation of funds used up, according to the government.
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The Colombian vehicle market continues to improve as lower interest rates and the economic recovery provide a boost to sales.
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Another Chinese auto supplier has been hit by a strike.
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The UK car market is forecast by Toyota to slow this year, more than offsetting a strong start underpinned by a final boost provided by a temporary scrappage scheme that has now ended.
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Fiat could create a new company to run a key factory near Naples that is scheduled to build the new generation of the Panda, Europe's biggest selling small car.
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A strike at a Japanese car parts supplier in southern China forced Toyota to suspend production at a Chinese auto assembly plant on Tuesday, the latest in a string of labour-related disruptions at foreign-owned manufacturers across the country.
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Audi is increasing production to meet higher demand for the A8 sedan and new A1 compact, CFO Axel Strotbek said. 'A global recovery for Audi is under way,' Strotbek said at a briefing in Berlin.
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Shanghai Automotive has opened its MG Longbridge design center near Birmingham, England, in a step toward expanding the British marque in Europe and China. SAIC spent 3 million pounds ($4.4 million) on the studio, plus 1.
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Recycling initiatives at Renault have boosted the use of recycled plastics in new cars and cut purchasing costs on some parts, but have yet to bring major cost savings for the French carmaker.
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PSA Peugeot Citroën today (22 June 2010) launched a EUR500m 5.625% bond issue due in June 2015.
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Cadillac will provide free servicing for the first four years or 50,000 miles with all 2011 models, adding it wants "to build the best customer service experience in the [US] luxury segment".
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Spy shots hint at upcoming bespoke look for hottest Aston
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Audi will overtake its mid-term margin target and is set to sell more than 1 million cars globally this year as demand in China for its premium cars surges.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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