Fiat S.p.A. beat the average forecast with a second-quarter trading profit of 310 million euros ($440 million), and said it cut net industrial debt to 5.7 billion from 6.6 billion in the period.
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Fiat S.p.A. beat the average forecast with a second-quarter trading profit of 310 million euros ($440 million), and said it cut net industrial debt to 5.7 billion from 6.6 billion in the period.
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Fiat S.p.A. beat the average forecast with a second-quarter trading profit of 310 million euros ($440 million), and said it cut net industrial debt to 5.7 billion from 6.6 billion in the period.
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Fiat Group has announced that it reported a net loss for the second quarter of EUR179m, but said that the result was at nearly break-even if unusual items are excluded (mainly restructuring costs).
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Hyundai Motor and affiliate Kia Motors Wednesday announced plans to invest 4.1 trillion won (US$3.28bn) by the end of 2013 to develop fuel-efficient cars and cut carbon emissions.
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Volvo AB has reportedly agreed to withdraw from its truck venture with the state parent of Sinotruk, moving it closer to a possible tie-up with Dongfeng.
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Carmakers can continue to set up networks of selective and exclusive dealerships for another three years in line with antitrust exemptions for the sector, European Union antitrust regulators said on Wednesday.
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Carmakers can continue to set up networks of selective and exclusive dealerships for another three years in line with antitrust exemptions for the sector, European Union antitrust regulators said on Wednesday.
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Carmakers can continue to set up networks of selective and exclusive dealerships for another three years in line with antitrust exemptions for the sector, European Union antitrust regulators said on Wednesday.
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Canadian Auto Workers members have reached new collective agreements with Lear Seating for Kitchener and Ajax, Ontario, plants supplying GM and Chrysler, adding jobs.
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Walt Disney and Panasonic are reportedly planning to sell movies on flash memory cards in Japan, enabling consumers to see movies on their mobile phone handsets and also on car navigation systems.
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Magna International on Tuesday said it planned to open a new multi-product manufacturing plant next May in Highland Park, Michigan, creating more than 400 jobs.
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Chinese industrial machinery firm Tengzhong is likely to establish an offshore investment vehicle to facilitate its purchase of Hummer.
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AvtoVAZ, Russia's largest car maker, is expected to suspend production for the whole of August, according to Russian media reports, in a bid to slash its stock of 85,000 unsold cars.
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Suppliers in Europe, facing a cashflow crisis and potential bankruptcies after the auto industry's summer shutdown, want the European Union to provide up to EUR3bn in loans, the Financial Times reported.
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Bankruptcy restructurings of General Motors and Chrysler have improved credit market access for auto suppliers, but the sector is far from healthy and requires close government monitoring, an Obama administration official has said.
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Officials from the German government and General Motors Co. failed to agree today on a buyer for GM's Opel unit. Magna International Inc.
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Officials from the German government and General Motors Co. failed to agree Wednesday on a buyer for GM's Opel unit.
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Magna International is still Germany's preferred partner for carmaker Opel, Chancellor Angela Merkel said on Wednesday, setting the stage for a showdown with General Motors Co. over the takeover bids.
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Magna International is still Germany's preferred bidder for Opel, a government spokesman said on Wednesday ahead of a meeting with General Motors Co. representatives to discuss the takeover offers.
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