Corporate/Financial: Posts

VW Approves Porsche Merger
November 20, 2009 7:10:00 PM
VW board agrees on final details to buy a 49.9 percent stake in Porsche AG by the end of this year. The company will complete a merger with Porsche AG parent company Porsche Automobil Holding SE by 20...

15

Ford Announces Development of Police Interceptor Law Enforcement Vehicle
November 16, 2009 8:00:00 PM
Ford has announced plans to replace the aging Crown Victoria Police Interceptor with an all-new model in 2011.

4

GM to Begin Repayment of Government Loans Ahead of Schedule
November 16, 2009 4:00:00 PM
GM will also begin repaying loans to the government of Canada and the province of Ontario. GM hopes to clear up about half of its government debts before a public offering sometime after the middle of...

10

Porsche SE Posts 4.4 Billion Euro Loss
November 13, 2009 6:01:56 PM
Losses stem from its failed bid to takeover Volkswagen AG, Porsche SE's car division, Porsche AG, remains profitable

23

Porsche Files Suit Against Crocs for Cayman Trademark Infringement
November 11, 2009 9:07:00 PM
Porsche is attempting to force shoemaker Crocs from using the name Cayman in its product line. Crocs is said to be defending the matter.

17

China Auto Sales in October Surge 72 percent
November 11, 2009 3:15:25 AM
China reported a 72 percent rise in vehicle sales for the month of October 2009. Soon the country will be the world's biggest market for motor cars.

37

VW-Porsche Overtakes Toyota as World's No. 1 Auto Maker
November 10, 2009 10:15:25 PM
VW-Porsche has produced 4.4 million units this year, while Toyota has cut its production and only made 4 million vehicles so far.

8

GM European CEO Resigns After Opel Reversal - Bob Lutz to fill in?
November 9, 2009 8:20:44 PM
While details are limited, it appears Forster and GM management clashed over the much-mangled deal to sell Opel to a joint-venture lead by Magna International.

31

Chrysler Reveals New Logo
November 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-...

6

Chrysler Outlines 5 Year Fiat Based Product Plan
November 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.

14

GM Board Decides to Keep Opel
November 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.

9

Ford Posts 3rd Qtr $997 million Net Income
November 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.

18

Ford Confirms Geely as its Preferred Bidder for Volvo Cars
October 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.

7

GM and Chrysler Top Execs to Get 25 Percent Pay Cut
October 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.

16

Volkswagen to take Larger 49.9% Porsche stake for $5.8 billion
October 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).

12

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.

4

Ex-Ford Engineer Charged with Selling Trade Secrets to Chinese
October 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.

2

GM Deal to Sell Opel Imminent
October 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.

23

Ford Agree Largest Recall in History - 4.5 Million Vehicles
October 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.

0

Pininfarina Bluecar to hit Market in 2011
October 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.

5

Chevrolet Camaro Convertible Confirmed for 2011 Launch
October 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.

2

GM and Sichuan Tengzhong Finalize HUMMER Sale
October 12, 2009 4:09:41 PM
General Motors has finalized a deal to sell HUMMER to the Sichuan Tengzhong Heavy Industrial Machinery Company.

14

New Lotus CEO Targeting Ferrari
October 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.

20

GM to close Saturn after Penske pulls out of deal
October 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.

12

GM to sell Opel, Vauxhall to Magna
September 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.

52

Porsche Panamera, Cayenne to be axed in wake of VW takeover
September 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.

44

Toyota concerned about aging owner base for Lexus
August 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...

18

VW to triple US sales by 2018 to 800,000 - strategy outlined
August 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.

9

GM considers keeping Opel - needs to raise $4.3 billion
August 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.

9

Porsche HQ raided by prosecutors, Ex CEO Wiedeking faces investigation
August 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.

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