The U.S. automobile industry's requests for federal assistance now exceed $50 billion. The CEOs of General Motors, Ford Motor Co. and Chrysler LLC met behind closed doors today with Congressional leaders to make personal appeals.
The top officials of the Detroit 3 and UAW were expected today to make a two-part pitch to House Speaker Nancy Pelosi and other lawmakers for emergency aid to the industry, a source familiar with the plan told Automotive News today.
A judge today reaffirmed his August ruling on a fraud claim in Delphi Corp.'s lawsuit against hedge fund Appaloosa Management LP for backing out of a deal to fund Delphi's bankruptcy exit. In October, U.S.
Data released by the China Association of Automobile Manufacturer shows that passenger car sales grew in October, reversing the declining of trend of recent months.
Fiat Group Automobiles and Russian carmaker OJSC-Sollers plan to build Fiat small- and lower-medium cars in Russia.
The U.S. auto industry is in need of an urgent federal aid package despite signs that the plunge in auto sales demand hit bottom last month, AutoNation CEO Mike Jackson said today. Jackson, who runs the largest publicly traded U.S.
Dana Holding Corporation on Thursday said it would close up to 10 more plants in 2009 and 2010 and axe an additional 2,000 jobs this year after turning in a miserable set of third quarter results, though it was in the black for the nine-month period.
Citroën has announced first details of mid-life revisions to its C1 city car.
BBDO Detroit is eliminating 145 jobs today because its key client, Chrysler LLC, needs its services less, the advertising agency said. The job cuts leave 509 people working at BBDO Detroit, said Roy Elvove, a spokesman for BBDO North America.
Lighting and electronic equipment supplier Hella KGaA Hueck and Co. last month opened its third manufacturing plant in Mexico.
New vehicle sales in New Zealand reflected the effects of global financial influences, but not to anything like the extent that certain overseas markets have suffered, a local trade group said.
A familiar refrain was heard from Australia on Thursday - a drop in new vehicles sales during October reflected the broader slowdown in the domestic and world economies as well as reduced access to wholesale and consumer finance.
Changan Automobile Group is to forge a partnership in Mexico to build a manufacturing plant in the country, a senior official was quoted in the press saying.
Drivetrain parts supplier Dana Holding Corp. said today that it would close as many as 10 additional plants and slash 2,000 more jobs as its quarterly losses widened.
Netherlands-based Spyker Cars is a maker of high-end sports cars that is attempting to rebuild its business after an expensive involvement with Formula 1 that saw its losses balloon. As well as hauling itself back on to an even financial keel, the firm is also working on new products and raised volume. just-auto editor Dave Leggett interviewed the CEO, Victor Muller, on behalf of Lotus Engineering's proActive.
Sirius XM Radio Inc. warned that the dramatic slowdown in car sales would hurt subscriber growth next year, as it issued an updated financial outlook in light of its negotiations with banks to cover debt coming due in 2009.
Hyundai Motor India has shipped its first batch of 2,820 i20 hatchbacks to Europe from the port at Chennai.
Europe's highest court on Thursday upheld an appeal filed by the Netherlands for its diesel cars to be exempt from EU pollution limits due to the country's highly concentrated population and infrastructure. The case has dragged on for three years.
General Motors is widening electric vehicle development beyond the Chevy Volt even though it is making cuts in other areas.
Volkswagen is to end its Auto 5000 project, which was launched seven years ago, and reintegrate the 4,200 employees of the subsidiary into the group, allowing it to make more flexible use of employees in the production of different models.
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