Russia's top automaker, AvtoVAZ, will receive bridge loans of 8 billion rubles ($239.5 million) from state-controlled lenders Sberbank and VTB, its board chairman said on Tuesday. "We have already reached an agreement with Sberbank and VTB.
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Berlin (dpa) -- Setting out details of cost-cutting to shareholders in Berlin on Wednesday, Daimler AG said it was eliminating one of its highly paid board members and his office.
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Russia's top automaker, AvtoVAZ, will receive bridge loans of 8 billion rubles ($239.5 million) from state-controlled lenders Sberbank and VTB, its board chairman said on Tuesday. "We have already reached an agreement with Sberbank and VTB.
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Karmann, the cabrio rooftop specialist best known for creating the 1950s VW Beetle-based Karmann Ghia coupe, filed for insolvency today.
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OSNABRUECK, Germany (dpa) - German coachbuilder and convertible specialist Karmann filed for insolvency on Wednesday.
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Germany's economy minister Karl-Theodor zu Guttenberg is to visit Abu Dhabi to evaluate the possibility of the Gulf emirate taking a stake in Opel, media reports said.
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Jeep is pulling out all the stops for the redesigned 2011 Grand Cherokee. Jeep is promising improvements to on-road comfort, interior accommodations and off-road prowess.
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Its gas-guzzling, CO2-belching products may be unfashionable currently and GM has put a 'for sale' sign up in front of the brand, but, last month, Hummer Australia had its best sales month in a year, retailing 122 units.
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First pictures of new Roadster and race inspired Nismo...
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German carmaker Daimler forecast a "significant" drop in revenue in all of its automotive businesses this year as it pushed back its expectations of when the crisis-hit industry might recover.
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Daimler expects a "considerable" drop in revenue in all of its automotive businesses this year, the company said on Wednesday, reaffirming it would post a significant loss for the first quarter.
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Direct injection, a highly precise fuel saving technology, will be standard on the new GMC Terrain small SUV, General Motors plans to announce today at the New York Auto Show.
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Fiat S.p.A.'s equity stake in Chrysler LLC would be allowed to increase in blocks of 5 percentage points as the Italian automaker reaches certain benchmarks in bringing technology to its potential U.S. partner.
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The U.S. Treasury said today that Chrysler LLC and General Motors have launched supplier support programs backed by U.S. government funds. The programs will guarantee receivables owed to the auto parts suppliers for any goods shipped after March 19.
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German bearings maker Schaeffler Group got a 1 billion euro ($1.35 billion) credit line from its banks to shore up its finances. The company has been burdened with billions of euros in debt since its takeover of larger rival Continental.
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Belarus is offering tax breaks to automakers willing to set up assembly plants in the ex-Soviet state. The Belarus government hopes ultimately to create a national automaking plant, Igor Rogozin, a senior government official said.
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Fiat S.p.A.'s equity stake in Chrysler LLC would be allowed to increase in blocks of 5 percentage points as the Italian automaker reaches certain benchmarks in bringing technology to its potential U.S. partner.
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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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