Auto people studied the April sales figures. Then they shuddered and dug in for another month of hoping and praying. April was not a good month. The 819,817 new cars and light trucks delivered by dealers were 34.3 percent fewer than in April 2008.
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Even with bankruptcy looming as a possibility at the end of the month, General Motors could face a barrage of lawsuits as it tries to meet the U.S. government's demand to streamline its dealership roster.
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Jim O'Donnell became CEO of BMW (U.S.) Holding Corp. last July, just before U.S. auto sales began to plunge. So it has been a tough start in America for the native of Scotland. But there are positive signs.
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When Ford Motor Co. cut its stake in Mazda Motor Corp. to 13 percent from 33.4 percent in November, several key Ford Motor Co. executives on loan to Mazda had to make a decision: Stick with Mazda or go back to Ford.
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If you're looking for Sergio Marchionne in the next few weeks, you might try the men's room and#x2014; at any one of Chrysler's plants, offices or technical centers in the United States. The Fiat S.p.A.
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Toyota's incoming North American boss, Yoshimi Inaba, will assume a powerful new position in charge of both sales and manufacturing operations, some dealers have been told. Inaba, 63, who was CEO of Toyota Motor Sales U.S.A.
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Last November, Bob Cockerham closed his Suzuki dealership in Rio Rancho, N.M. Its new-vehicle sales had plunged 60 percent from the previous year.
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Fiat Group could combine its automobile business into a new company that would also include its Chrysler stake and General Motors' European operations.
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Wolfgang Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, told a German Sunday newspaper that the carmaker will not be sold to Volkswagen.
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Turkish vehicle maker Ford Otomotiv posted a non-consolidated net profit of 31.20 million lira ($19.62 million) in the first quarter, down 92 percent from a year earlier.
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Carmaker Tofas, a joint venture of Turkey's Koc Holding and Fiat, posted a net profit of 32.86 million lira ($20.66 million) in the first quarter, down 60 percent from a year earlier.
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Chrysler's bankruptcy filing underscores just how difficult it would be for General Motors to complete its own restructuring deals with key stakeholders and avoid the same fate as its smaller rival.
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Its likely that insolvent German auto parts supplier Edscha will be sold in an auction to various investors in two to four months' time, its court-appointed administrator said in an interview with a German newspaper.
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Its likely that insolvent German auto parts supplier Edscha will be sold in an auction to various investors in two to four months' time, its court-appointed administrator said in an interview with a German newspaper.
Full story...
Carmaker Tofas, a joint venture of Turkey's Koc Holding and Fiat, posted a net profit of 32.86 million lira ($20.66 million) in the first quarter, down 60 percent from a year earlier.
Full story...
Chrysler's bankruptcy filing underscores just how difficult it would be for General Motors to complete its own restructuring deals with key stakeholders and avoid the same fate as its smaller rival.
Full story...
Fiat Group could combine its automobile business into a new company that would also include its Chrysler stake and General Motors' European operations.
Full story...
Wolfgang Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, told a German Sunday newspaper that the carmaker will not be sold to Volkswagen.
Full story...
Carmaker Tofas, a joint venture of Turkey's Koc Holding and Fiat, posted a net profit of 32.86 million lira ($20.66 million) in the first quarter, down 60 percent from a year earlier.
Full story...
Its likely that insolvent German auto parts supplier Edscha will be sold in an auction to various investors in two to four months' time, its court-appointed administrator said in an interview with a German newspaper.
Full story...
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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