Plants, jobs, sales figures, regulation and the executives behind them. The business of building cars.
Page 10 of 10
Spyker plans to position Saab as a premium niche manufacturer, with renewed model lines and funding secured through a mix of GM support and a European Investment Bank loan.
PSA Peugeot Citroën has eliminated 5,700 jobs in its French operations, exceeding its initial voluntary departure target as part of a wider cost-cutting drive.
Talks between Spyker and General Motors over the sale of Saab have collapsed, prompting GM to begin an orderly closure of the Swedish carmaker.
Toyota has announced a 20 percent reduction in manager bonuses following its large-scale US recall and a second consecutive year of financial losses.
With Koenigsegg out, GM faces a critical decision on Saab’s future as BAIC and Merbanco express interest ahead of a board meeting in December 2009.
General Motors confirmed Koenigsegg Group AB has abandoned its planned purchase of Saab, leaving the Swedish brand's future uncertain as of November 2009.
BMW and Brilliance Auto will invest $735 million to boost annual output in Shenyang to 75,000 vehicles, with a further plant planned for 2010.
Volkswagen Group of America is investing $125 million to establish flagship Audi and Volkswagen dealerships on Manhattan’s 11th Avenue, aiming to boost its US market presence from 2010.
Audi targets 30,000 vehicle sales in Russia by 2015, banking on a market rebound despite a sharp downturn and expanding its presence among premium brands.
India’s largest vehicle maker reported a net profit of 7.29 billion rupees for July–September 2009, driven by strong domestic sales and contributions from foreign brands.
Strong third-quarter sales of the Mercedes E-Class helped Daimler post €470 million in earnings before interest and taxes, beating analyst estimates after a period of losses.
Chinese automaker Great Wall Motor and Bulgaria’s Litex Motor have signed a $6 million agreement to build a 50,000-unit assembly plant in Lovech, aiming for EU market access.
A 2008 Economic Policy Institute report projected up to 120,000 Pennsylvania jobs could be lost within a year if General Motors, Ford and Chrysler entered bankruptcy.
Michelin has engineered a new lightweight composite wheel for NASA's next-generation moon rover, offering improved load capacity and traction for future lunar missions.
Automobili Lamborghini will open a new branch in Beijing at the start of 2009, aiming to expand sales and brand presence across China’s luxury car market.
Volkswagen's market capitalisation reached $127.5 billion, surpassing Toyota amid global financial turmoil and shifting demand away from large SUVs and pickups.
J.D. Power data shows a 9.2% fall in new car registrations across Western Europe in September 2008, with Ireland, Spain and the UK hit hardest.