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Latest Auto Industry News

Last Updated: Aug 6, 2008

North American slump hurts Magna Q2 profits - Aug 6, 2008
Auto Market
Canadian auto supplier Magna International Inc. said today that it posted lower net income and sales for the second quarter as its North American customers slashed production.... Read More..
2009 Ford Edge to include blind-spot mirror - Aug 6, 2008
Ford
Ford Motor Co. said today the 2009 Ford Edge crossover will go on sale this fall with a blind-spot mirror that will be standard for the upcoming model year -- a year earlier than planned.... Read More..
Carmax delays store openings, cuts inventory - Aug 6, 2008
Auto Market
Carmax Inc., the largest U.S. retailer of used cars, said on Wednesday it would delay the planned openings of several stores due to a sharp drop in vehicle sales in the past months amid record gas prices.... Read More..
Tesla hires Ford veteran as CFO; hires Mazda designer - Aug 5, 2008
Tesla
Upstart electric sports car maker Tesla Motors has hired another executive away from the Detroit 3, naming 15-year Ford veteran Deepak Ahuja as CFO.... Read More..
Obama proposes $7K credit for fuel-efficient cars - Aug 5, 2008
Hybrid
Barack Obama proposed tapping the strategic oil reserve on Monday to help lower gas prices, reversing an earlier stance, and called rival John McCain a tool of big oil companies.... Read More..
Nissan Motor unveils new prototype electric car - Aug 5, 2008
Nissan
Nissan Motor Co. unveiled a new prototype electric vehicle Wednesday with batteries twice as powerful as conventional technology, aiming to take a lead in zero-emission cars.... Read More..
Malaysia's Proton develops new hybrid car - Aug 3, 2008
Proton
Malaysia's state-owned carmaker Proton is developing a new, fuel-efficient hybrid car to beat rising costs and address environmental concerns.... Read More..
Ford US sales slid 15 percent in July - Aug 1, 2008
Ford
Ford Motor Co. said Friday its US sales slid 14.9 percent in July compared with a year ago as sport-utility vehicles (SUVs) and truck sales slumped amid high fuel prices.... Read More..
Toyota unveils next-generation scooter - Aug 1, 2008
Toyota
Japan's Toyota Motor on Friday unveiled the Winglet -- a new two-wheel electric scooter to rival the Segway.... Read More..
GM loses $15.5 bln in second quarter - Aug 1, 2008
General Motors
General Motors posted a whopping 15.5-billion-dollar net loss in the second quarter as the US auto giant took hefty restructuring charges and US sales skidded.... Read More..
Chinese restart full production at MG car plant - Aug 1, 2008
MG
Full-scale car production resumed at Britain's Longbridge auto plant under its Chinese owners on Friday, reviving the factory which was mothballed when MG Rover went bankrupt in 2005.... Read More..
Audi announces 2009 MY pricing for the all-new A4 sedan and Avant models - Aug 1, 2008
Audi
Audi of America today released pricing for two of its newest entries, the 2009 model year Audi A4 sedan and A4 Avant. Manufacturer's Suggested Retail Price for the A4 sedan will start at $32,700, while MSRP for the A4 Avant will start at $34,500.... Read More..
US auto sales slam on brakes in July - Aug 1, 2008
Auto Market
US auto sales braked hard in July, automakers said Friday, as consumers avoided big-ticket spending in the face of rising unemployment, falling home prices and tight credit.... Read More..
Mercedes May Cancel Hybrid SUV Plan Due To Chevron Dispute - Aug 1, 2008
Mercedes-Benz
Mercedes-Benz may be forced to cancel plans to produce its first hybrid sport utility vehicle for the U.S. market because oil giant Chevron and a partner have pulled funding.... Read More..
GM announces further production cuts - Jul 28, 2008
General Motors
General Motors Corp. announced another round of production cuts Monday affecting its gasoline-guzzling truck and sport utility vehicle (SUV) production lines.... Read More..
Toyota cuts global vehicle sales forecast - Jul 28, 2008
Toyota
Toyota Motor Corp., in a close race with General Motors for the title of the world's top automaker, on Monday lowered its global sales target for 2008 as US demand slumps.... Read More..
GM to build Saab cars in US, retain nameplate - Jul 25, 2008
Saab
General Motors will begin building Saab vehicles in the United States rather than put its Swedish subsidiary up for sale, GM chairman and chief executive Rick Wagoner said Friday.... Read More..
GM says US-made Buicks ready to roll to China - Jul 25, 2008
Buick
General Motors said Friday it was preparing to begin exports of the US-made Buick Enclave luxury crossover utility vehicle to China as early as next month.... Read More..
Ford posts worst loss, puts turnaround plan into overdrive - Jul 24, 2008
Ford
Ford Motor Co. announced plans to accelerate its vast restructuring plan Thursday after the sputtering auto giant posted its worst quarterly loss in history.... Read More..
Renault to cut 5,000 jobs as it prepares for downturn - Jul 24, 2008
Renault
French giant automaker Renault said on Thursday it will cut about 5,000 jobs in Europe among measures to reduce costs by 10 percent as it prepares for a sharp and possibly rocky downturn.... Read More..

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