Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss.
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PSA Peugeot Citroen has booked a half-year operating loss of EUR826m on revenues down 21.8% to EUR23,497m from EUR30,066m in 2008, citing "adverse market and industry conditions".
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BMW has confirmed it will pull out of Formula One racing at the end of this season for "image reasons" to focus on sustainability and the environment.
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BMW has confirmed it will pull out of Formula One racing at the end of this season for "image reasons" to focus on sustainability and the environment.
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PSA/Peugeot-Citroen swung to a loss in the first half and said Europe's car market would not start recovering until late 2010. PSA posted a recurring operating loss of 826 million euros ($1.17 billion) from a profit of about 1.
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BMW is offering US buyers who don't qualify for the government's 'cash for clunkers' fuel economy-based trade-in programme a US$4,500 rebate on two diesel models to woo new customers.
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German car maker pulls out of Formula One racing to concentrate on environmental campaigns
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Nissan Motor has announced a net after tax loss of JPY16.5bn (US$170m) for the first quarter of the fiscal year ending 31 March, 2010, compared to net income of JPY52.8bn (US$540m) a year ago.
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AvtoVAZ is to prepare a list of key suppliers who will be eligible for support from the carmaker and the regional government, according to Samara region industry minister Vladislav Kapustin.
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Creditors planning to buy the assets of bankrupt Delphi will probably try to resell the company to recoup their investment rather than run it for the long term, analysts said.
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U.K.-based car dealer group Inchcape plc posted a better than feared 58 percent drop in first-half profit on Wednesday, helped by cost cutting, and said it was axing a further 350 jobs, lifting its shares as much as 13 percent.
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BMW confirmed it would leave Formula One racing at the end of 2009 for image reasons as the maker of sporty luxury cars wants to focus on sustainability and the environment.
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BMW rocked Formula One on Wednesday by announcing their exit as a team and engine supplier at the end of 2009.
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BMW rocked Formula One on Wednesday by announcing their exit as a team and engine supplier at the end of 2009.
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Nissan Motor Co. posted an 86 percent decline in quarterly operating profit, hit by a stronger yen and declining sales, but avoided the loss analysts had expected by cutting costs aggressively.
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Sliding sales in North America helped send operating profit at Nissan Motor Co. tumbling 86 percent, but the Japanese automaker avoided a loss through heavy cost cutting. North American revenue fell 37.1 percent to 570.9 billion yen, or $5.
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General Motors Co. says a bid for Opel from Magna International faces hurdles while a rival offer from Belgian investor RHJ International would be easier to accept.
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General Motors Co. says a bid for Opel from Magna International faces hurdles while a rival offer from Belgian investor RHJ International would be easier to accept.
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General Motors Co. says a bid for Opel from Magna International faces hurdles while a rival offer from Belgian investor RHJ International would be easier to accept.
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General Motors Co. says a bid for Opel from Magna International faces hurdles while a rival offer from Belgian investor RHJ International would be easier to accept.
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