Spain's automobile industry and the government continue to trade blows about the best strategy to boost sales which plummeted almost 50% in February and are set to fall to Europe's lowest levels this year.
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February's US new light vehicle sales (including fleet sales) are forecast by Edmunds to be 685,000 units, a 41.4% percent decrease from February 2008 but a 4.6% increase from January 2009.
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Geely is set to submit a bid for Volvo Cars to owner Ford later this month according to a report in the Wall Street Journal Asia citing two people close to the matter.
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Japan's used car exports to Russia decreased 91.4% on the year to slightly over 2,400 cars in January.
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Nissan and the Portuguese government have agreed to study the establishment of a plant in Portugal to produce lithium-ion batteries to be installed in electric vehicles, Nissan has said.
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New car sales in France fell 13.1% in February from last year according to data released by French carmakers' association, the CCFA.
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Zag.com, an online car-buying platform for so-called affinity groups such as members of credit unions and auto clubs, has received $37.4 million in additional funding from its investors.
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Spanish trade association ANFAC has reported that February car sales declined 48.8% to 62,107 units.
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Cerberus Capital Management LP wants more federal loans for Chrysler LLC in order to avoid "excessive risk-taking" that contributed to Wall Street's demise, Cerberus' COO said today in The New York Times.
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The federal state of Lower Saxony, home to Continental AG, has said the Schaeffler family should drastically cut its stake in Conti to around 10% according to a media report.
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UAW members at a key Ford Motor Co. assembly plant have approved a new concessionary agreement by a wide margin, according to a posting today on the Web site of UAW Local 900 in Wayne, Mich.
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Volkswagen has reported 2008 net profit up 14% to EUR4.75bn. "We met our target and surpassed our record results for 2007 even though conditions were tougher," chairman Martin Winterkorn said in a statement.
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Parts makers need strong nerves and a steady hand. According to some expert witnesses, the closure of unwanted US auto component capacity will start in earnest this month (March) or April at the latest. For Europe it's June.
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High-tech features and luxury options will push the redesigned Toyota Prius into new territory--namely, $30,000-plus.
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As Audi expands its A5 and S5 family of vehicles, it's shrinking their engines. The new S5 Cabriolet, which reaches U.S. dealerships this fall, will be offered with a 2.0-liter turbocharged engine, among other powertrain configurations.
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Holland's largest motor show - AutoRAI 2009 - will be held at the Amsterdam RAI Exhibition Centre from 1 to 11 April and the organisers are upbeat about prospects for the show based on its new format.
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High-tech features and luxury options will push the redesigned Toyota Prius into new territory -- namely, $30,000-plus.
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Economic slump and future emissions rules mean end for badge
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Toyota and Honda, Japan's top two automakers, are eyeing production cuts of at least 10 percent in the next fiscal year. They expect to balance their global inventories by June. Toyota Motor Corp.
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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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