Porsche-VW set for showdown over merger by July 16
Porsche's squabbling owners are set to discuss an investment by Qatar in the next two weeks, a milestone which could change the dynamics of a Porsche-Volkswagen merger, people close to the talks said. A decision on Qatar's entry may come even before...
July 4 06:01 CET
RESCUING OPEL/VAUXHALL
Beijing Auto submits offer for Opel, sources say
Beijing Automotive Industry Holding Corp. (BAIC) has submitted an indicative, non-binding offer for Opel, sources familiar with the situation said on Friday. The Chinese automaker plans to make a binding offer by the middle of July, one of the...
July 3 06:01 CET | UPDATED: July 3 13:46
RESCUING OPEL/VAUXHALL
Britain prepared to partially fund Opel-Vauxhall takeover
Britain is prepared to help underwrite the planned takeover of Opel and sister brand Vauxhall, possibly in the form of loans, Business Secretary Peter Mandelson said on Friday. Speaking at Vauxhall's plant in Luton, north of London, Mandelson told...
July 3 13:31 CET
RESCUING OPEL/VAUXHALL
Magna to fix Opel issues by July 7, sources say
Magna International expects to resolve the last few issues holding up its takeover of Opel from former owner General Motors by Tuesday, two sources familiar with the matt ...
VW board member says carmaker will beat rivals in second half
Volkswagen is set to outperform rivals in the second half after beating them in the first half, says a top union official who sits on VW's supervisory board. "We expect t ...
BMW announces X1 prices for German market
BMW will price its new X1 compact SUV between 27,200 euros and 41,500 euros in Germany, the company said. The X1 will go on sale in Europe starting October 24 after th ...
VW exec fears big drop in '10 German car sales
German new-car sales will plunge in 2010 to a record low of 2.6 million vehicles due to government incentives that pull demand forward into this year, Rolf Dielenschneide ...
Credit Suisse downgrades European auto sector
German car sales forecast at 3.5 million in 2009
The German automakers association, VDA, on Thursday increased its forecast for 2009 new-car registrations in Germany to over 3.5 million from over 3.1 million previously, ...
Scrapping plans boost France, Italy, Spain June sales
Toyota denies cooperation talks with Daimler
Toyota Motor Corp. denied on Thursday a report that it was considering building derivatives of Mercedes-Benz's A-class and B-class cars on its own platform to better util ...
Ford switches production execs in Germany, UK
Ford executive Martin Chapman has moved to Germany from the U.K. to lead car manufacturing operations at the carmaker's Cologne factory. Chapman succeeded Karl Anton, ...
GREEN CARS
Dutch firm revives Detroit Electric Car Co. name
Seventy years after the Detroit Electric Car Co. stopped producing the battery-powered Detroit Electric at its factory in Detroit, a Dutch company has resurrected the bra ...
Porsche mulls more output cuts at 911 plant
Weak demand is forcing Porsche to consider cutting production later this year at its main Zuffenhausen plant near Stuttgart where the 911 Carrera is built, a company sour ...
Porsche says Qatar submits written offer for deal
Porsche turns down VW 'rescue' package
GREEN CARS
GM battery partner Hitachi plan big output boost
General Motors battery partner Hitachi Ltd. plans to spend 20 billion to 30 billion yen ($207 million to $310 million) to boost output capacity for lithium-ion batteries ...
BMW will continue reduced working hours in H2
BMW AG will continue its reduced working hours program in its German plants in the second half of this year, a company spokesman said on Thursday. About 17,000 workers ar ...
Ford will build C-Max minivan in Spain
Ford of Europe said on Wednesday it will transfer production of its C-Max minivan to Spain from Germany. The new C-Max, which launches next year, will be built in Valenci ...
CEO Marchionne says Chrysler cash burn slows
Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month, CEO Sergio Marchionne said in an interview with Bloomberg publish ...
Citroen reveals first look at new C3
Citroen has revealed photos of it second-generation C3 compact, which is due to go on sale in November after an unveiling at the Frankfurt auto show. The shots show that ...
BMW poised to take top spot in U.S. luxury sales
BMW is threatening to topple Lexus as the best-selling luxury brand in the United States in 2009 after eight straight years as No. 2. As automakers prepare to report June ...
FIGHT TO SAVE SAAB
Saab CEO says state aid would spark output boost
Saab could increase production to meet higher demand if it secured bridge financing from the government, the Swedish carmaker's CEO said on Tuesday. Jan Ake Jonsson also ...