Post Tagged with: "tax breaks"

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Chrysler gets tax breaks for Indiana transmission plant

Chrysler gets tax breaks for Indiana transmission plant

Chrysler Group has received approval for tax breaks from the Tipton County Council in Indiana, where it wants to start operating a transmission plant. The local council approved a 10-year tax abatement worth $2.5 million, according to the local newspaper Kokomo Tribune. Chrysler wants to invest $162 million in the […]

Brazil’s Car Production Boosted by Tax Breaks

Brazil’s Car Production Boosted by Tax Breaks

Auto sales in Brazil, the fourth largest auto market, were revived by the government’s tax breaks. Brazil’s vehicle production in July saw an increase of 8.8%, as GM agreed to postpone its plan to lay off 1,840 employees. But the government still believes that car makers will still cut jobs […]

PSA Peugeot Citroen seeks state aid to prevent job loses

PSA Peugeot Citroen seeks state aid to prevent job loses

The struggling carmaker PSA Peugeot Citroen wants government aid on top of wage concessions as a condition for averting a second French auto plant closure, Reuters reports citing internal sources with knowledge of the matter. PSA Peugeot Citroen, Europe’s second largest carmaker announced last week it would cut 8,000 jobs […]

Japanese carmakers counting on incentives for domestic growth

Japanese carmakers counting on incentives for domestic growth

The auto industry in Japan is hoping the governments’ incentives for eco-friendly cars will boost sales by about 900,000 vehicles in 2012. According to Toshiyuki Shiga, the head of the Japan Automobile Manufacturers Association (JAMA), growth in the Japanese auto industry is depending on incentives, as exports are not likely […]

U.S. to end tax breaks for EV chargers

U.S. to end tax breaks for EV chargers

The U.S. government will not renew a tax credit for installing home and commercial charging equipment. The tax credit for chargers ends on December 31, although proponents press Congress to renew it in January. “The timing of this couldn’t be more unfortunate,” Genevieve Cullen, vice president of the Electric Drive […]

Ohio to announce tax breaks for Ford

Ohio to announce tax breaks for Ford

The state of Ohio will provide tax breaks to Ford Motor Company, which will spend $128 million to retool its assembly plant in Avon Lake, near Cleveland, to build commercial vehicles. As part of a new labor agreement with the United Auto Workers (UAW), Ford announced in October that it […]

Johnson Controls gets €5.7 million aid from Slovak government

Johnson Controls gets €5.7 million aid from Slovak government

The Slovak government approved state aids of €45.8 million ($61.3 million) for Johnson Controls and eight other manufacturers investing in the eastern European country. After a meeting in the Slovak capital Bratislava on Wednesday, the government granted Johnson Controls tax breaks and cash subsidies worth €5.7 million in exchange for […]

China auto sales slows in Jan-April

China auto sales slows in Jan-April

China’s auto sales climbed 6 percent in the first four months of the year, slowing sharply from the double-digit growth seen in past years, an industry group reported Tuesday. Sales of China-made autos rose 5.95 percent year on year to 6.53 million units during the same period. In April, domestic […]