Mexico plans to keep measures to support its ailing auto industry in place at least until an expected recovery late next year as it hopes to attract more investment to the country, a senior trade official said on Friday.
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Renault-owned Dacia says it will boost daily output by 12% and hire new staff from mid-June as a result of higher export orders.
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Maruti Suzuki India, 54.2% owned by Suzuki Motor, on Friday reported an unexpected 18.5% drop in quarterly net profit, missing its forecast, due to higher raw material costs and inventory. Full year net profit dipped 29.6%.
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Autobytel Inc., a third-party lead generator for auto dealers and manufacturers, narrowed its first-quarter loss by more than 80 percent.
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Lexus has lowered the prices of its RX 450h hybrid models for the 2010 model year. Toyota's luxury brand announced a price of $42,535 for the RX 450h front-wheel-drive model and $44,125 for the all-wheel-drive version.
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Volvo Trucks has reported a sharp fall into the red in its first quarter of the year, as sales fell 27% on the same period last year.
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Toyota is recalling some 259,119 Camry sedans in China to fix faulty brake systems.
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This week's news highlights can be easily summarised: Q1 results (including Ford's better than expected numbers out today), Chrysler, Fiat, Marchionne, General Motors, Opel, Chapter 11 and Shanghai.
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Daimler hopes to sell its stake in ailing Chrysler by the end of the year.
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Ford Motor Co., the only U.S. automaker operating without federal bailout loans, burned through $3.7 billion in cash during the first quarter in posting its fourth straight quarterly loss.
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Two Japanese OE parts suppliers have reportedly applied for the US government's USD5bn financial aid package aimed at helping struggling Tier 1s.
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Valeo today reported a significant decline in its sales and a fall into the red for its first quarter. However, the company noted that its 33.4% fall in sales was less than the 38% drop in automobile production worldwide.
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With a week remaining for Chrysler LLC to clinch a deal with Italy's Fiat S.p.A., the U.S.
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The European Union's industry commissioner Guenter Verheugen drew a sharp rebuke from Fiat after questioning the company's ability to do separate deals with two other carmakers given its high debt level, The Italian news agency ANSA quoted Verheugen...
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Ford's European operations and its Swedish unit Volvo both lost money in the first quarter. Ford of Europe reported a pre-tax loss of $550 million for the quarter, compared with a profit of $739 million a year ago.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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Kamaz has suspended operations on its main production line from Thursday through May 11.
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Toyota has said it will suspend production at its plants in Turkey for one week until April 29.
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Tata is understood to be working flat out on the global launch of its new 'world truck' by the end of May, according to local reports.
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