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BMW Management Chairman Dr. Norbert Reithofer recently made a statement about the international financial crisis and how it relates to BMW group's operations. "The international financial crisis has gained further momentum in the third quarter, and has now hit the real economy with full force" he said- before stressing that BMW is prepared to meet economic challenges and that they remain a strong performer with a solid foundation that will help to 'weather the storm'.

When has a Volvo ever sparked such a firestorm of attention? In one quick stop at a gas station, I was drawn into two separate conversations about the C30 T5 R-Design. The first gent led off with the usual, "how do you like C30?" The second fellow launched by informing me of his wife's desire to own a C30. Thanks to the tremendous appeal of Volvo's youth-oriented hatch, my quick hit of fuel became a rather protracted social event. Read more ...

General Motors and Ford Motor Co. posted more than $27 billion of net losses in the first half of 2008 -- and that was before a deepening economic slowdown pushed industry sales to 25-year lows. Read more ...

Auto parts maker Linamar Corp. reported a 56 percent drop in quarterly profit today as volumes fell significantly and costs climbed. The company, which makes precision automotive components for engines and transmissions, earned C$11. Read more ...

Additional help for distressed U.S. automakers is under consideration by Democratic congressional leaders, but the shape of any assistance and a timeframe for action must await the outcome of today's election, aides said. Read more ...

North American vehicle sales are falling so precipitously that automakers must accelerate fourth-quarter production cuts or risk an inventory glut by year end, analysts said today. Read more ...

For the second time in less than a month, German wiring supplier Leoni AG has cut its 2008 sales and earnings targets.The company, Europe's No. 1 wiring supplier, blamed global cuts in auto production. Read more ...

American Le Mans Series team B-K Motorsports announced that it will no longer operate, due to the retirement of owner Bob Bach. B-K led the ALMS program for Mazda North American Operations and MAZDASPEED Motorsports Development since 2005.

American Le Mans Series team B-K Motorsports announced that it will no longer operate, due to the retirement of owner Bob Bach. B-K led the ALMS program for Mazda North American Operations and MAZDASPEED Motorsports Development since 2005. Read more ...

Toyota Motor Corp. lowered its 2008 U.S. sales forecast to a range of 2.2 million to 2.3 million units after it saw October sales drop 26 percent. Bob Carter, General Manager of Toyota's U.S. Read more ...

Oil prices jumped nearly 11 percent today on signs Saudi Arabia had made substantial cuts in its crude exports and as global financial markets rallied. Saudi Arabia has reduced exports after OPEC agreed last month to lower output. U.S. crude rose $6. Read more ...

South African new vehicle sales declined by 30.1% to 38,143 units in October compared to the same month last year, the National Association of Automobile Manufacturers (NAAMSA) has said. Read more ...

BMW Gina Light Visionary Model - By Design

Don't Laugh. This Is A Serious Car

Sure, it looks familiar. It should; this brilliant design exercise was done seven years ago, and traces of its lines and vestiges of its surfaces have turned up on numerous BMW concept and production models since. lines that were superb on the 2006 Mille Miglia concept car or that seemed not to make any sense in the grotesque (but very important) X Coupé were established by this concept, which BMW has finally made public.

Photo Gallery: BMW Gina Light Visionary Model - BMW Concept Car - Automobile Magazine

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Hyundai Motor Manufacturing Czech (HMMC) has begun volume car production at its new EUR1.1bn US$1.45bn) plant at Nosovice in the east of the Czech Republic. Read more ...

General Motors wants to terminate its dealership agreements with three more stores owned by bankrupt Bill Heard Enterprises Inc., court documents say. GM wants to end sales points at Chevrolet dealerships in Union City and , Ga., Sandy Springs, Ga. Read more ...

Bill Heard Enterprises Inc. is using a Web site to try to drum up higher bids for four of its stores. The dealership group filed for protection in U.S. Bankruptcy Court in Alabama in September. Read more ...

German partsmaker Schaeffler Group could allow another shareholder to take a large stake in Continental. The company's co-owner, Maria-Elisabeth Schaeffler, said she does not exclude a strategic investor. Read more ...

US automakers' efforts to get federal assistance to help them through the current period of financial turmoil and flagging sales are expected to resume an urgent pace after Tuesday's elections, a Detroit newspaper said. Meanwhile, parts makers have joined the automakers - and dealers - seeking help from the government. Read more ...

General Motors is expected to explain its ongoing merger negotiations with Chrysler by Friday, industry sources have said. Read more ...

Billionaire investor Carl Icahn yesterday sold more than two-thirds of his stake in Lear Corp. to realize capital losses before the end of the year, but said he was still supportive of the company's management. Read more ...