Struggling German chipmaker Infineon has asked the German government for 500 million euros ($697.2 million) in loan guarantees, the Financial Times Deutschland reported, citing company sources. Infineon declined to comment on the report.
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Axle supplier Dana Holding Corp. has named James Sweetnam its CEO, the company's fourth person in the position in the past 16 months. Sweetnam, 56, will join Dana in July after 11 years with engine component supplier Eaton Corp.
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Axle supplier Dana Holding Corp. has named James Sweetnam its CEO, the company's fourth person in the position in the past 16 months. Sweetnam, 56, will join Dana in July after 11 years with engine component supplier Eaton Corp.
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Germany's government plans to reach an agreement on providing temporary financing for carmaker Opel if its parent, U.S. carmaker General Motors, files for bankruptcy.
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Continental AG's banks oppose a deal that would see the of German tire maker and auto parts group take over Schaeffler, a source close to the matter told Reuters on Wednesday.
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The global market for hybrid cars will grow more than 23-fold to 11.28 million vehicles by 2020 and account for nearly one in five cars sold in the United States, JPMorgan predicts.
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India's Tata Motors Ltd. said today it has completed refinancing of its $3 billion bridge loan taken to purchase luxury car brands Jaguar and Land Rover from Ford Motor Co. last year.
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India's Tata Motors Ltd. said on Wednesday it has completed refinancing of its $3 billion bridge loan taken to purchase luxury car brands Jaguar and Land Rover from Ford Motor Co. in 2008. Tata, which had already repaid $1.
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Cadillac is enhancing its line with a redesigned 2010 SRX and the addition of the 2010 CTS wagon. Both vehicles go on sale in late summer.
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Fiat chairman Luca Cordero di Montezemolo said ON Wednesday the takeover of Germany's Opel from US auto giant General Motors was "a lottery," adding that Fiat had "done everything possible" to win the bid.
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Lexus' long-awaited supercar will take the fight to its Italian competitors with a scintillating 220mph top speed
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United Auto Workers officials have unanimously endorsed a new cost-cutting labour agreement with General Motors, paving the way for a quick ratification this week.
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Kamaz has said in a statement that it is suspending operations on its main production line until June 8.
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A new study suggests that more than 1.3 million U.S. jobs -- and up to $68.7 billion in personal incomes -- could be lost in the first year if Chrysler LLC and General Motors endure "lengthy and disorderly" bankruptcies.
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Cadillac is enhancing its line with a redesigned 2010 SRX and the addition of the 2010 CTS wagon. Both vehicles go on sale in late summer.
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Cadillac is enhancing its line with a redesigned 2010 SRX and the addition of the 2010 CTS wagon. Both vehicles go on sale in late summer.
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Figures released by ACEA show that new commercial vehicle registrations in Europe declined by 42.4% year-on-year in April to 139,870 units as the economic downturn continued to hit businesses and the transportation sector.
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The global auto sector faces a bleak near-term outlook, with sales expected to fall 13% this year and with scrapping premiums unlikely to have a long-term positive impact, according to Moody's Investors Service.
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The British government's business secretary Peter Mandelson has been involved in the negotiations over Opel's future, holding talks with the head of GM and GM Europe in an effort to ensure that any deal protects two GM-owned plants in Britain, the Financial Times reported.
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