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Latest Auto Industry News

Last Updated: Feb 22, 2009

Japan bears brunt of global economic crisis - Feb 21, 2009
Auto Market
Remember the early 1980s? The compact disc was brand new, the Walkman was still a novelty and Japanese carmakers were getting ready to conquer the world.... Read More..
Chery Auto unveils electric car - Feb 20, 2009
Chery
China's largest independent carmaker Chery Automobile rolled off its first plug-in electric car this week, the latest Chinese automotive company to produce an alternative energy vehicle.... Read More..
Saab to restructure as independent unit to avoid bankruptcy - Feb 20, 2009
Saab
Beleaguered Swedish carmaker Saab Automobile will undergo restructuring as an independent unit to stave off bankruptcy after it was abandoned by its owner General Motors, Saab and GM said Friday.... Read More..
Saab to request immediate restructuring - Feb 19, 2009
Saab
Beleaguered Swedish car maker Saab Automobile was to take steps Thursday toward restructuring to stave off bankruptcy after it was abandoned by its owner General Motors, media reported.... Read More..
Chinese auto maker plans to take on giants with electric cars - Feb 19, 2009
BYD
From its headquarters in south China, BYD Auto is pursuing a project of staggering ambition: To be in the lead as the world's cars free themselves from their century-old dependence on petrol.... Read More..
Bankruptcy stalks automakers despite loan plans - Feb 19, 2009
Auto Brands
Even if General Motors and Chrysler obtain billions more in government loans, the threat of bankruptcy remains high for the troubled automakers, analysts warned.... Read More..
Saab speeds towards abyss - Feb 18, 2009
Saab
The future of Sweden's Saab Automobile looked more uncertain than ever Wednesday after it was abandoned by US carmaker General Motors and the Swedish government refused to come to its rescue, despite impending bankruptcy.... Read More..
GM, Chrysler ask for more bailout money - Feb 18, 2009
General Motors
General Motors and Chrysler have requested another 21.6 billion dollars in bailout funds, adding to the long list of pleas for help facing the administration of US President Barack Obama.... Read More..
Italy moves to help auto sector - Feb 6, 2009
Auto Market
Italian Prime Minister Silvio Berlusconi announced new measures worth 2.0 billion euros (2.6 billion dollars) to boost the economy and help the auto industry on Friday, but he tied the aid to keeping factories at home.... Read More..
BMW 2008 sales down 5% - Feb 6, 2009
BMW
German luxury automaker BMW, which is struggling in its key North American market, said Friday its 2008 vehicle sales fell five percent from the year-earlier record to 53 billion euros (71.6 billion dollars).... Read More..
Ford to meet banks on Volvo Cars sale - Feb 6, 2009
Ford
US auto maker Ford is to meet representatives from leading investment banks in London next week to discuss the possible sale of its Volvo Cars subsidiary, the newspaper Dagens Industri reported on Friday.... Read More..
Toyota warns of big annual loss - Feb 6, 2009
Toyota
Toyota Motor, the world's biggest automaker, warned Friday it expects an annual operating loss of 4.9 billion dollars, its first ever, as the economic crisis sends car sales plunging.... Read More..
Govt considers car trade scheme as sales slump - Feb 5, 2009
Auto Market
The government said Thursday it was considering an incentive for drivers to replace old polluting cars with new ones to help the beleaguered auto industry, as figures showed plunging sales of new cars.... Read More..
Recession helps cut auto deaths - Feb 5, 2009
Law & Order
Car crash fatalities fell in 40 states in '08, driven partly by people driving less because of the recession and seat belt use reaching a record high of 83%.... Read More..
Ford exec says Stimulus plan to benefit auto industry - Feb 5, 2009
Ford
The auto industry stands to gain from the stimulus package now pending in the US Congress, a top Ford Motor Co. executive said Wednesday.... Read More..
Japan's Mitsubishi, Mazda and Subaru to sink into red - Feb 4, 2009
Mitsubishi
Japanese automakers Mitsubishi, Mazda and Subaru said Wednesday they will post losses for the year through March as a deepening global slump devastates the industry.... Read More..
GM's US sales plummet 49 percent - Feb 3, 2009
General Motors
General Motors suffered a 49 percent year-to-year slump in US sales in January in a market driven by consumer fear of a deepening recession, sales figures showed Tuesday.... Read More..
Citroen says to launch new DS-inspired range - Feb 3, 2009
Citroen
French auto maker Citroen said Thursday it was set to launch a new high-range line of cars, in a rebranding which reports said will revive the classic image of its popular DS model from the 1950s.... Read More..
Ford January sales tumble 42 percent - Feb 3, 2009
Ford
Ford Motor Co. said Tuesday its January US sales plunged 42.1 percent from a year ago amid deepening troubles for the auto industry and a brutal economic downturn.... Read More..
GM, Chrysler set for more buyouts - Feb 2, 2009
General Motors
General Motors sources said Monday the troubled auto giant is planning a new buyout program to further reduce the size of its blue-collar workforce.... Read More..

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