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Jul
15th

Lotus CEO Mike Kimberley to step down on Friday:

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Lotus CEO Mike Kimberley is stepping down on Friday, as back problems are forcing him to prematurely call it a career. Full story...
Jul
15th

Lotus CEO Mike Kimberley to step down on Friday, citing health issues:

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Lotus CEO Mike Kimberley is stepping down on Friday, as back problems are forcing him to prematurely call it a career. Full story...
Jul
15th

UK: SMMT raises UK car market forecasts

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The Society of Motor Manufacturers and Traders (SMMT) has raised its forecasts for the UK car market this year and next. Full story...
Jul
15th

GM to invest $1 billion in Brazil to develop new cars

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General Motors unveiled plans today to spend 2 billion reais ($1.02 billion) in Brazil through 2012 to develop a new family of vehicles for the South American market. Full story...
Jul
15th

Porsche denies CEO Wiedeking to leave company

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Porsche has denied that its embattled CEO, Wendelin Wiedeking, is to leave the company. Germany's business weekly WirtschaftsWoche reported on Wednesday that Wiedeking would leave Porsche and a successor will be decided on shortly. Full story...
Jul
15th

BRAZIL: Fiat launches first compact crew cab pickup

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Fiat created Brazil's first compact pickup truck in 1978, presenting it at the São Paulo Auto Show as 147 pickup (based on the Italian 127 hatchback). The development of the segment was quite slow initially and it took four years for a direct competitor to arrive, the VW Gol-derived Saveiro. Full story...
Jul
15th

JAPAN: ‘Old’ GM pays off some supplier debts

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Denso and Yazaki have received partial payments for accounts receivable from failed General Motors Corp through a US government financial support programme, sources familiar with the matter said on Wednesday. Full story...
Jul
15th

First Drive: 2010 Kia Forte Koup

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First Drive: 2010 Kia Forte Koup
2010 Kia Forte Koup - First Drive Review - Automobile Magazine
Can Kia's first coupe--the 2010 Forte Koup--compete with the likes of the Mazda 3?

The brand-new Kia Forte Koup is Kia's first two-door coupe and a sibling to the new Forte sedan, which is Kia's replacement for its sad-sack Spectra and its answer to cars like the Honda Civic, the Toyota Corolla, and the Mazda3. The "Koup" moniker is a melding of the "K" from "Kia" and the "oup" from "coupe." The Forte Koup will be at Kia dealers by August or September.


Photo Gallery: 2010 Kia Forte Koup - First Drive Review - Automobile Magazine


Full story...
Jul
15th

Former General Motors CEO Rick Wagoner punches out with $8.6 million:

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Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. Full story...
Jul
15th

Former General Motors CEO nets multimillion-dollar retirement package:

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Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. Full story...
Jul
15th

Vintage Rolls-Royce, Aston Martin will be on display at London concours:

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Two icons of British car lore, a 1928 Rolls-Royce and a 1950 Aston Martin, will be on display at a concours event July 21-24 in London. Full story...
Jul
15th

UK: Jaguar to end X-Type production this year

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Jaguar has announced that production of the X-Type car at the Halewood factory will cease before the end of 2009 with the loss of up to 300 jobs. Full story...
Jul
15th

US: Prez praises automakers for speedy bankruptcies

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President Barack Obama has praised General Motors and Chrysler for emerging from bankruptcy ''in record time'' in the past few weeks. Full story...
Jul
15th

US: GM restructure costs partsmaker JPY900m

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Auto partsmaker Yorozu has said it will suspend operations at its US plant in Michigan in October in response to the restructuring of major client General Motors. Full story...
Jul
15th

US: Chrysler repays taxpayer loans

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Chrysler Financial has repaid in full the US$1.5bn of Troubled Asset Relief Program (TARP) government loans, it said in a statement last night. Full story...
Jul
15th

Russia’s president to push for Opel deal in Germany

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Russian President Dmitry Medvedev will call for a final deal to allow Sberbank and Magna International to acquire control of Opel while visiting Germany this week, a top Kremlin aide said on Wednesday. Full story...
Jul
15th

Russia president to push for Opel deal during Germany visit

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Russian President Dmitry Medvedev will call for a final deal to allow Sberbank and Magna International to acquire control of Opel while visiting Germany this week, a top Kremlin aide said on Wednesday. Full story...
Jul
15th

Russia president to push for Opel deal during Germany visit

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Russian President Dmitry Medvedev will call for a final deal to allow Sberbank and Magna International to acquire control of Opel while visiting Germany this week, a top Kremlin aide said on Wednesday. Full story...
Jul
15th

INDIA: M&M takes over South African JV

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India's Mahindra & Mahindra (M&M) last week took full control of its South African joint venture Mahindra South Africa set up in October 2004 with African Automotive Investments Corporation, a subsidiary of African Resources and Logistics Corporation. Full story...
Jul
15th

GERMANY: RHJ talks Opel with government

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The holding company RHJ International was due to hold talks on Wednesday at the German economy ministry about its rival bid for Opel, sources told news agency AFP. Full story...
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