Chrysler LLC took recent cost-cutting moves to survive a steep sales downturn and the turmoil in financial markets, CEO Bob Nardelli said today.There was some speculation that Chrysler was cutting costs to ready itself for a sale.
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Germany's car import association, the VDIK, has estimated that Germany's car market declined by at least 10% in the month of October.
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Dana has announced that its board of directors has appointed John Devine to the expanded role of chairman and CEO. He takes over the CEO responsibility from Gary Convis.
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Supplier Dana Holding Corp. has named John Devine as CEO, replacing Gary Convis, who has led the company since April, the auto parts supplier said today.
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General Motors told dealers today it is starting its annual Red Tag sale early this year. The sale, which typically begins just before Thanksgiving weekend, will start tomorrow and run until January 5, dealers say.
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General Motors is launching two new incentives on most models, but they are targeted at select customers. And auto dealers say they have been told that GM's annual Red Tag sale, typically slated to start in mid-November, might start earlier.
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Volkswagen is reportedly planning to produce the vast majority of components for use in its hybrid and electric vehicles itself rather than use suppliers.
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Volkswagen expects to be buying components worth EUR1bn a year in India for its global operations within two years.
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Auto sales at General Motors, Ford Motor Co. and Chrysler LLC plunged in October, dragging the U.S. industry to a 32 percent decline and its weakest performance in a quarter century. GM plummeted 45.1 percent from a year earlier.
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Auto sales at General Motors, Ford Motor Co. and Toyota Motor Corp. plunged in October as the U.S. industry braced for what may be the weakest monthly sales report in a quarter century. GM plummeted 45 percent from a year earlier.
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Ford Motor Co. posted a 32 percent decline in U.S. sales in October as the industry braced for what may be weakest monthly sales report in 25 years. Ford sold 132,248 cars and trucks last month, down from 194,617 a year earlier.
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Ford Motor Co. posted a 32 percent decline in U.S. sales in October as the industry braced for what may be weakest monthly sales report in 25 years. Ford sold 132,248 cars and trucks last month, down from 194,617 a year earlier.
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Faurecia looks unlikely to lead any wave of consolidation that takes place in the supplier industry on the back of the current economic crisis.
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General Motors Indian unit boosted October sales 6% year on year to 6,465 units in October 2008, compared to 6,139 units in the corresponding month last year.
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Indian automakers hope that developing Euro-V-compliant engines will open up new export markets in Europe and the US.
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Citroen ace and his co-driver Daniel Elena celebrate.
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A strong showing from Hyundai Motor Company has seen sales of South Korea's auto manufacturers rise 3.7% in October over the same month in 2007.
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Tesla Motors Inc. said today that its board had approved $40 million in convertible debt financing to push ahead with stepped-up manufacturing of its battery-powered Roadster sports car.
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French auto parts supplier Faurecia will not use an impending consolidation wave in the industry to spur growth through MandA deals, its CEO told German business weekly WirtschaftsWoche.
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Despite the abrupt cancellation last month of a venture to produce nearly 700,000 dual-clutch gearboxes a year with Chrysler and the global collapse in auto sales, transmission specialist Getrag expects to continue growing.
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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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