The federal government is turning up the juice on tax breaks for plug-in vehicles. The new economic stimulus law will make hundreds of thousands of additional buyers of plug-ins eligible for tax credits of as much as $7,500.
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German Economy Minister Karl-Theodor zu Guttenberg said today he will not be pressured into making a quick decision on granting state aid to struggling Opel.
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Representatives of General Motors' bondholders expect to meet with the U.S. government task force overseeing the rescue and restructuring of the auto industry, a person familiar with the matter said on Friday.
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German Economy Minister Karl-Theodor zu Guttenberg said today he will not be pressured into making a quick decision on granting state aid to struggling Opel.
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German Chancellor Angela Merkel said on Saturday a decision on state aid for Opel depended on the firm's long-term outlook and on the readiness of banks to help.
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The European Commission said on Saturday it was satisfied with guarantees set out by France that a state loan plan to its carmakers did not amount to protectionism.
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Continental plans to close a French plant and cut some 1,500 jobs, the Europe 1 radio station reported on Saturday quoting labor union sources.
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The Schaeffler family is being pressured to surrender control of their company to the banks that financed the ill-fated takeover of Continental, said sources with knowledge of the matter.
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German Chancellor Angela Merkel said on Saturday a decision on state aid for Opel depended on the firm's long-term outlook and on the readiness of banks to help.
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Despite an investment of 500 million last year, Continental's powertrain division is still trying to catch up with rivals such as Robert Bosch, Denso and Magna International.
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The dismal outlook facing the automotive sector has forced PSA/Peugeot-Citroen CEO Christian Streiff to scrap his medium-term volume and profitability objectives.
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The odds are against the survival of Saab as an independent automaker, as it begins the process of spinning off from its troubled US owner General Motors.
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Opel urgently needs money to prevent a cash crisis that could result in the total failure of its operations. The time frame is weeks.
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A pencil soloist who spread the allure of Italian design well ahead of today's globalization, Giovanni Michelotti was one of the most prolific stylists of sports cars of the 20th century.
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As the automotive industry gathers in Geneva for the annual auto show, all of the major manufacturers foresee a challenging year ahead. Cash conservation is a theme that reoccurs in their presentations to analysts and discussions with journalists.
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Renault expects its low-cost Logan range to continue growing in 2009, despite the global slowdown.
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Despite the economic crisis, Volkswagen group, Daimler, and possibly BMW, will post profits in 2009, analysts say.
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Renault and Nissan executives say ramping up their global partnership offers them the best chance to survive the current crisis. From an operational perspective, however, the 10-year-old Franco-Japanese alliance is heading in the other direction.
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With car sales plummeting globally and little sign of life coming from any nation's economy, the 79th Geneva auto show could be seen as the modern equivalent of the string quartet on the deck of the Titanic.
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For decades, the two dealerships operated by Bob Smith Automotive Group were vital parts of Maryland's Eastern Shore.
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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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