Auto News 5

A group of credit unions from Michigan, Ohio, Indiana and Illinois is pledging $10 billion in low-cost auto financing to its more than 12 million members for the purchase of General Motors vehicles. Full story...

A group of credit unions from Michigan, Ohio, Indiana and Illinois is pledging $10 billion in low-cost auto financing to its more than 12 million members for the purchase of General Motors vehicles. Full story...

Toyota Motor is experiencing a notable slowing of demand and production in Europe, its local head has said. Full story...

GMAC Financial Services warned today in a filing with the Securities and Exchange Commission that it may have to withdraw its application to become a bank holding company, a necessary step toward winning funds from the government financial-services... Full story...

Drivetrain supplier ArvinMeritor Inc. has withdrawn the fiscal-year earnings expectations it released three weeks ago, saying it has received )x("”",no encouragement” that depressed production levels would increase. Full story...

Drivetrain supplier ArvinMeritor Inc. has withdrawn the fiscal-year earnings expectations it released three weeks ago, saying it has received )x("”",no encouragement” that depressed production levels would increase. Full story...

Now that General Motors needs to trim marketing costs by some $600 million in the next four years, will it also need to trim agencies? GM said it will focus on only four of its eight vehicle brands including Chevrolet, which accounts for more than... Full story...

Jaguar’s 2009 XF is widely regarded as a make-or-break car for the British brand now owned by Tata of India. The XF replaces two models, the forgettable X-Type and the decent S-Type, which never sold in any significant numbers. Full story...

If the United States Congress agrees a $15bn auto industry loan this week, the Canadian government is likely to be pressured to help its own automakers based in Ontario, the province's premier has said. Full story...

Industrial output sank in several European economies in October. The slowing economy and falling sales forced factories to scale back production in the car industry and other hard-hit sectors. Full story...

Industrial output sank in several European economies in October. The slowing economy and falling sales forced factories to scale back production in the car industry and other hard-hit sectors. Full story...

Chrysler UK has named experienced auto industry hands Jonathan Shaw as chief financial officer and Rob Hatfield as sales director. Full story...

General Motors staff have been lobbying Congress to keep CEO Rick Wagoner in charge of their beleagured employer. Full story...

Speculation is mounting in India that the Mahindra brothers could make a bid for Ford's up-for-sale Volvo Car unit. Full story...

Car sales in India plunged by 19.4% in November, raising fears about the outlook for sales in 2009 and overcapacity among local producers. A softer market is already leading to widespread price cuts in an effort to maintain volume. Full story...

Mercedes-Benz previewed the look of the redesigned E-class sedan by presenting the Fascination concept at the Paris motor show in October. And we've seen several spy photos of the car, some with very little camouflage in place. Full story...

Mercedes-Benz previewed the look of the redesigned E-class sedan by presenting the Fascination concept at the Paris motor show in October. And we've seen several spy photos of the car, some with very little camouflage in place. Full story...

The 2008 Paris Mondial de L'Automobile has opened its doors with the media preview days. Highlights include the Lamborghini Estoque, Renault Ondelios concept, Citroën Hypnos concept, Pininfarina B0 concept, GTbyCitroën, Peugeot RC HyMotion 4, and Mercedes Concept Fascination. Production debuts include the Renault Megane and Chevrolet Volt. We will have ongoing reports of the most significant debuts in our show Highlights, with in-depth Design Reviews and an extensive Photo Gallery to follow. Full story...

The Azia-Invest Bank, a subsidiary of Uzbekistan's National Bank for Foreign Economic Activity, plans to open a US$25m credit line to assist Russian distributors of GM Uzbekistan - an Uzbeki-based JV that includes participation by GM. Full story...

The combination of a deepening US recession and the effects of the credit crisis are expected to produce a further decline in 2009 US automotive industry sales volumes from already-depressed 2008 levels, data out this week suggests. Full story...