General Motors, facing a Feb. 17 deadline to show the government it's a viable company, said today it will cut 10,000 -- or 14 percent -- of its salaried jobs globally by the end of the year and temporarily slash the salaries of many who remain.
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General Motors, facing a Feb. 17 deadline to show the government it's a viable company, said today it will cut 10,000 -- or 14 percent -- of its salaried jobs globally by the end of the year and temporarily slash the salaries of many who remain.
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The economic stimulus programs in industrial and developing countries will yield results later this year, says Robert Bosch CEO Franz Fehrenbach.
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St. Petersburg's city government is considering allocating another plot of land for Suzuki's planned car assembly plant to minimise the cost to the automaker.
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The European Commission and some EU member states have raised concerns about France's 7.8 billion euro bailout for its auto industry. Germany is not happy about French support for PSA/Peugeot-Citroen and Renault, a senior government source said.
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The European Commission and some EU member states have raised concerns about France's 7.8 billion euro bailout for its auto industry. Germany is not happy about French support for PSA/Peugeot-Citroen and Renault, a senior government source said.
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Nissan Motor has applied for US government financing to help it make electric vehicles and develop the advanced batteries that power them.
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Matiz replacement confirmed for Geneva Unveil, and we get a first look at the interior.
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We look at Red Bull's revised RB5 challenger for the new season.
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PSA Peugeot-Citroen's boss, Christian Streiff, has said that he expects the firm's volume to fall 20% in 2009.
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Chevrolet's new Spark minicar will make its production-specification debut at the Geneva show next month and goes on sale in Europe later this year.
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The home of the best Geneva show news.
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Filing for bankruptcy would allow General Motors to reduce its debt more aggressively than an out-of-court restructuring and might not be as damaging as it would have been just a few months ago, an analyst has said.
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There have been a flurry of reports lately - including one from us - suggesting that the US vehicle market may have slumped to a level that takes it below China's. But is that true?
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General Motors plans to cut salaried worker pay as part of a restructuring plan it will submit to the US government on 17 February.
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General Motors on Tuesday said it would axe 10,000 salaried 'white collar' workers from the current 73,000 globally this year.
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Best shots yet confirm 500 will use a targa-style canvas roof
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Canada's Magna International is to acquire the European operations of bankrupt US-based rival Cadence Innovation.
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Magna International has agreed to acquire the European operations of U.S.-based rival Cadence Innovation, Magna said on Tuesday. Cadence Innovation filed for Chapter 11 bankruptcy protection in the U.S.
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Kia has said that the star of its display at the 2009 Salon de l'Automobile in Geneva at the beginning of March will 'redefine the mini MPV segment bringing style and cool to what is currently a bland segment of the new car market'.
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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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