Mazda Reports $734M Net Loss in 2008
12 May 2009, 08:40 UTC · By: Bogdan Popa / Operating losses and reduced sales shouldn't surprise anybody nowadays, especially given the avalanche of reports surrounding the economic chaos and its victims. Mazda for instance today announ...
Spain's Support? Not Enough, Says Citroen
7 May 2009, 13:12 UTC · By: Bogdan Popa / Citroen Managing Director Jean-Marc Gales calls for more support in Spain because the local government hasn't done enough to help automakers tackle the economic chaos. The statement was made du...
Chrysler's 2010 and 2011 Models in Doubt Due to Chapter 11
5 May 2009, 12:36 UTC · By: Bogdan Popa / Chrysler's recently-confirmed filing for Chapter 11 might also influence the company's short-term plans as 2010 and 2011 models might be delayed, Chrysler manufacturing chief Frank Ewasysh...
The Emir of Qatar Eyes Porsche Stake
27 Apr 2009, 15:02 UTC · By: Bogdan Popa / After several media reports hinted that certain parties based in Qatar might be interested in investing in the German auto industry, an article published by German magazine Focus claims the Emir of ...
Asian Automakers Eying Production Plants in Morocco
22 Apr 2009, 10:55 UTC · By: Bogdan Popa / Chinese automakers are basically the only players in the automotive industry who are continuously seeking to expand their operations, despite the difficult conditions everyone else is currently expe...
Harley-Davidson Reports Slow Sales, Announces Job Cuts
16 Apr 2009, 14:12 UTC · By: Bogdan Popa / The motorcycle industry is going down as well, despite that related economic reports make the headlines only once in a while. Harley Davidson for example today announced its first quarter 2009 resul...
The Auto Sector Must Make Sacrifices, Says White House Administration
31 Mar 2009, 09:18 UTC · By: Bogdan Popa / Following President's Obama efforts to help the automotive industry and ailing automakers get back on track, White House spokeswoman Nancy Pelosi issued a statement, emphasizing that she fully ...
Brembo Still in Trouble, Prepares Dividend Cut to Cope with the Crisis
20 Mar 2009, 08:37 UTC · By: Bogdan Popa / Italian brake systems manufacturer Brembo is also experiencing difficult times due to the economic turmoil so it will propose to shareholders a 19.6 percent slash to the dividend. The company's...
US Gives $5 Billion to Auto Suppliers
19 Mar 2009, 17:19 UTC · By: Daniel Patrascu / The other side of the coin most seem to have neglected in the automotive industry drama is the story of the auto parts suppliers. The Obama administration has taken note of this fact and will provid...
Chrysler to Run Out of Cash by March 31
19 Mar 2009, 11:40 UTC · By: Bogdan Popa / American automaker Chrysler says it has enough money to survive through the end of March as the company has reduced costs in every single area and is spending money slower than it did in the previou...
Toyota Idles Russian Operations Due to Falling Demand
17 Mar 2009, 14:57 UTC · By: Bogdan Popa / Toyota today announced that it will temporary suspend operations at its Russian production facility between March 30 and April 6, citing the over-discussed economic recession and the falling demand ...
Tire Industry to Decline More in 2009
17 Mar 2009, 08:38 UTC · By: Bogdan Popa / According to a study conducted by the Rubber Manufacturers Association, tire shipments are expected to drop more than 7 percent in 2009 compared to a decrease of 9 percent recorded in 2008. More spe...
Aston Martin Sales to Go Down in 2009
16 Mar 2009, 16:46 UTC · By: Bogdan Popa / After recording the second-best year in the company's 95-year history when it comes to new car sales, Aston Martin is expecting lower sales this year, citing the economic recession and the slum...
New Fiesta Helps Ford Increase Market Share
16 Mar 2009, 14:35 UTC · By: Bogdan Popa / The new Fiesta is one of the most attractive models in the company's product lineup when it comes to European cars. At least this is what Ford claims, pointing to its February 2009 sales figure...
BMW Recorded the Second-Best Annual Sales in History in 2008
12 Mar 2009, 16:09 UTC · By: Bogdan Popa / BMW unveiled in a report published today that the German group held up well in 2008 despite the economic chaos that slashed sales all around, with profit before financial result (EBIT) falling to 92...
BMW Reports 24.4 Percent Drop in February 2009
9 Mar 2009, 19:12 UTC · By: Bogdan Popa / With the economic recession still forcing automakers to apply cost-cutting measures, BMW today reported a drop of 24.4 percent in February 2009 sales versus February 2008. This means the German grou...
Weekly Roundup: 02.03.2009 – 06.03.2009
8 Mar 2009, 14:18 UTC · By: Tudor Raiciu / Geneva was definitely the word of the week as almost anybody who is somebody in the industry rushed to announce a prototype or a new model. Another big topic was the announcement that Ross Brawn pur...
Automakers Aren't Begging for Money, Says Renault's Ghosn
26 Feb 2009, 13:18 UTC · By: Bogdan Popa / Even if automakers around the world turned to desperate campaigns to convince their domestic governments to approve financial packages for the automotive industry, Renault's CEO Carlos Ghosn sa...
Weekly Roundup: 16.02.2009 – 20.02.2009
22 Feb 2009, 17:16 UTC · By: Tudor Raiciu / Crisis or no crisis, there have surely been lots of leaks and announcements this week. Naturally, economic doom related reports also abounded, but we’re only going to mention the really import...
Weekly Roundup: 09.02.2009 – 13.02.2009
15 Feb 2009, 18:15 UTC · By: Tudor Raiciu / With the sales forecasts out of way, the auto industry is slowly coming back to life. Some credit for this should go to the 2009 Chicago Auto Show and the 2009 Geneva Auto Show, as most new launches...