Chrysler has asked for an additional $2bn in US federal loans on top of the $7bn originally requested and said it would be viable on annual US sales 1.8m units down, and as a standalone operation, though would benefit greatly from the proposed Fiat alliance. It plans to axe 3,000 workers, three model lines and 100,000 units of capacity this year.
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The Mexican auto industry is to receive a fillip from the government as it seeks to boost lending to consumers who are looking to buy cars.
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The European element of General Motors' restructuring plan is a "work in progress", a spokesman said on Wednesday.
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The French government has launched a plan to coordinate the creation of a national charging network for electric vehicles and plug-in hybrids.
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General Motors' latest restructuring plan, submitted to the US government last night, dooms about 46,000 jobs (20,000 in the US), five additional factories, the Saab, Hummer and Saturn brands, over 2,100 US dealers and could require up to another US$16.6bn in federal loans plus "funding support" from Canada, Germany, the UK, Sweden and Thailand.
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A partly Ferrari-sponsored project called 'Mille Chili' is aiming at automotive weight reduction via a collaboration with the University of Modena and Reggio Emilia's engineering department.
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AvtoVAZ has applied for 10 billion roubles in government loan guarantees, the company's President Boris Alyoshin has said.
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Domestic auto sales in Thailand plunged nearly 30% year-on-year in January.
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Latest edition of the German hypercar gets more power and improved aerodynamics
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Nissan is seeking European Investment Bank financing to help it develop electric cars that it will sell starting in 2012, a senior executive said.
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Shares in PSA/Peugeot-Citroen rose 3.3 percent on market talk that French government could buy a stake in the carmaker, traders said today
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Shares in PSA/Peugeot-Citroen rose 3.3 percent on market talk that French government could buy a stake in the carmaker, traders said today
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Alfa Romeo's next two cars will be called the Milano and Giulia. Surprisingly, the news did not come from Alfa or its parent Fiat Group. Instead, Chrysler, Fiat's new alliance partner, revealed the names in its submission to the U.S.
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Alfa Romeo's next two cars will be called the Milano and Giulia. Surprisingly, the news did not come from Alfa or its parent Fiat Group. Instead, Chrysler, Fiat's new alliance partner, revealed the names in its submission to the U.S.
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First ride in new Focus RS, BMW's clever new 5-Series concept, best of British group test special, baby McLaren revealed, FREE 16-page RS magazine
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Sweden's Autoliv Inc., the world's biggest seatbelt and airbag maker, said today it would pay no second quarter dividend in 2009 to conserve cash as a "precautionary measure" due to turmoil in the auto industry.
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Russian car manufacturers have asked for state guarantees totaling nearly 30 billion rubles ($863 million), the Vedomosti business daily reported on Wednesday.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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