Corporate/Financial: Latest News
Chrysler Reveals New LogoNovember 5, 2009 10:19:22 PM
Chrysler present a new logo that aims to complement a new five-year plan to re-invigorate the range in two stages, complete in part by 2010 and in full by 2012. The refreshes arrive ahead of a larger-...
Chrysler Outlines 5 Year Fiat Based Product PlanNovember 5, 2009 4:19:22 PM
Chrysler has outlined their five-year product plan during a lengthy press conference at their Technology Center in Auburn Hills, Michigan.
GM Board Decides to Keep OpelNovember 4, 2009 3:58:52 PM
In a surprise move, GM's board of directors has decided to keep Opel. While details are scarce, the board believes Opel and Vauxhall are vital to the success of General Motors.
Ford Posts 3rd Qtr $997 million Net IncomeNovember 2, 2009 10:52:00 PM
Ford has earned a net income of almost US$1 billion in Q3, 2009. Market share in North America has improved and a strong profit is expected in 2011.
Ford Confirms Geely as its Preferred Bidder for Volvo CarsOctober 28, 2009 5:08:47 PM
Geely International has been announced as the preferred bidder for Volvo Cars. Current owner Ford would relinquish 100% of shares but continue to assist in certain areas.
GM and Chrysler Top Execs to Get 25 Percent Pay CutOctober 23, 2009 4:50:00 PM
GM and Chrysler executives will see a 25% cut in pay next year. Find out who is losing 85% of their salary inside.
Volkswagen to take Larger 49.9% Porsche stake for $5.8 billionOctober 21, 2009 1:06:41 AM
Volkswagen AG initially wanted a 42% stake in Porsche. Now it says it will take 49.9% for the amount of €3.9 billion (US$5.8 billion).
VW New Mid-Size Sedan to Replace, Not Join Passat in U.S.October 20, 2009 3:52:27 PM
The Volkswagen Passat appears to be on the way out in North America. The sedan will be replaced by a new, US-produced mid-size car by 2011.
Ex-Ford Engineer Charged with Selling Trade Secrets to ChineseOctober 19, 2009 5:15:00 PM
A former Ford employee has been charged with stealing company secrets and attempting to sell them to Chinese automakers.
GM Deal to Sell Opel ImminentOctober 14, 2009 6:05:00 PM
Reports say a deal by General Motors to sell a major stake of its Opel arm to the Magna consortium will be signed on October 15, although hurdles still appear to exist.
Ford Agree Largest Recall in History - 4.5 Million VehiclesOctober 14, 2009 3:05:09 PM
A faulty switch that has caused several fires is the subject of Ford's latest recall, the largest in company history.
Pininfarina Bluecar to hit Market in 2011October 12, 2009 7:09:41 PM
Pininfarina says production will be on schedule for the Pininfarina Bluecar. The five-door electric should hit market in 2011.
Chevrolet Camaro Convertible Confirmed for 2011 LaunchOctober 12, 2009 5:39:41 PM
GM CEO, Fritz Henderson, strongly suggested the Chevrolet Camaro Convertible would be released in early 2011, as a 2012 model.
GM and Sichuan Tengzhong Finalize HUMMER SaleOctober 12, 2009 4:09:41 PM
General Motors has finalized a deal to sell HUMMER to the Sichuan Tengzhong Heavy Industrial Machinery Company.
New Lotus CEO Targeting FerrariOctober 7, 2009 5:53:01 PM
Proton Holdings, owners of Lotus, have finally woken up to what they bought 10 years ago. Company CEO reckons he can put the Brit back on par with past rivals like Ferrari and Lamborghini.
GM to close Saturn after Penske pulls out of dealOctober 1, 2009 3:32:00 PM
The Saturn brand is soon to be no more after Penske pulled out of a deal that would have secured jobs for thousands. Find out how many will be out of work inside.
GM to sell Opel, Vauxhall to MagnaSeptember 10, 2009 8:14:24 PM
GM will sell two brands, Opel and Vauxhall, to parts manufacturer Magna International, nearly concluding a months long saga about the fate of 50,000 employees.
Porsche Panamera, Cayenne to be axed in wake of VW takeoverSeptember 1, 2009 6:21:28 PM
While the models would likely survive until 2016, Ferdinand Piëch wants Porsche to focus on sports cars instead of doing a little bit of everything.
Toyota concerned about aging owner base for LexusAugust 31, 2009 5:34:08 PM
Lexus does not appear to be attracting younger buyers, something that probably worries its owner Toyota. Research says the average Lexus owner is 56 years of age, almost as old as the average Buick bu...
VW to triple US sales by 2018 to 800,000 - strategy outlinedAugust 27, 2009 5:40:32 PM
German automaker will also add more models to its North American lineup and create new products that are more directly suited to the market.
GM considers keeping Opel - needs to raise $4.3 billionAugust 25, 2009 2:45:01 PM
General Motors would need to raise US$4.3 billion if it decided to keep Opel, a report claims. This option is being considered along with bids from companies like Magna.
Porsche HQ raided by prosecutors, Ex CEO Wiedeking faces investigationAugust 21, 2009 2:58:41 PM
The probe appears to focus on Porsche's failed attempt to seize control of Volkswagen, which caused VW shares to soar past 1,000 Euros each.
GM to review final bids for Opel today - German gov puts €4.5 billion behind MagnaAugust 21, 2009 1:58:41 PM
GM under pressure from German government to sell Opel to Canadian/Austrian auto parts maker Magna International Inc.
VW Merger could See Porsche Double Sales within 4 YearsAugust 20, 2009 10:52:49 PM
VW's CEO has told a German magazine that he can see Porsche selling around 150,000 cars every year from about 2013. Making this doubling in current sales possible would be the addition of new models, ...
GM and Koenigsegg sign 100 percent stock purchase agreement for SaabAugust 18, 2009 3:15:00 PM
The agreement is contingent on several pre-negotiated conditions, including Swedish government support and transitional assistance from GM.
Official: Volkswagen to Buy 42% of Porsche for €3.3 BillionAugust 14, 2009 2:36:33 PM
Porsche SE, the owners of Porsche AG have announced that a 42% stake in their company is to be sold to Volkswagen AG for €3.3 billion. A full merger is the ultimate goal but alternative plans are in p...
VW of America considering two new models - Phaeton returnsAugust 13, 2009 4:53:16 PM
New models would be a compact car, perhaps the Polo, built in Mexico and a new mid-sized sedan to be produced at a new $4 billion assembly plant VW will build in Chattanooga, Tennessee.
New VW, Porsche entity could be called Auto Union - Agreement on general sale terms metAugust 13, 2009 3:23:16 PM
Combined company would generate about 120 billion euros a year in sales. VW and Porsche have agreed on an outline agreement and questions of valuation have been resolved but the details still need to ...
GM, eBay announce car-selling trials in CaliforniaAugust 10, 2009 7:55:38 PM
The two companies will team up to create a unique 'click and buy' website which will allow California residents to purchase select Chevrolet, Buick, GMC and Pontiac models online.
Pininfarina family stake to be sold - Tata potential suitorAugust 10, 2009 6:25:38 PM
Financially troubled Pininfarina could end up in the hands of Tata. The owners of Jaguar have been touted as possible takers of a stake in the Italian design house after the Pininfarina family resolv...
