AUTO

Sberbank sees role for AvtoVAZ in Opel deal

IBTimes Logo
Top Russian car maker, AvtoVAZ (AVAZ.MM), may join state-run Sberbank (SBER03.MM) and Canada's Magna International Inc (MGa.TO) in a deal to run Opel and bring new technology to Russia.

Mazda to sell Mazda2 subcompact in U.S. from late-'10

IBTimes Logo
Mazda Motor Corp (7261.T) said it would begin selling the Mazda2 hatchback in the United States toward the end of 2010, getting a late start in a segment that has held up relatively well as consumers seek cheaper and smaller cars.
IBTimes Logo

Toyota won't raise prices on new 4Runner

Toyota Motor Co (7203.T) will not raise prices on the new version of its 4Runner sport- utility vehicle in a bid to shore up sputtering sales of the vehicle, dealers briefed on the plan this week said.
More news
IBTimes Logo

Car slump to spark supplier mergers, bankruptcies

The global car market slump is set to spark a wave of mergers and bankruptcies among automotive suppliers being squeezed to the breaking point by weak demand and unrelenting pressure on prices, executives say.
IBTimes Logo

Nissan sees 2009 China sales 18 percent above target

Nissan Motor Co (7201.T) said on Thursday it expects its Chinese vehicle sales to climb 18 percent above its initial target of 570,000 units this year, helped by the government's tax incentives on smaller cars.
IBTimes Logo

Piaggio CEO wants vehicle buying incentives to run on

Italian scooter maker Piaggio's (PIA.MI) chairman and chief executive Roberto Colaninno called on Thursday for the government to continue with its incentives to support the vehicle industry in the economic downturn.
IBTimes Logo

GM exec says balance of power shifts with Opel deal

Magna's planned acquisition of Opel is proof that carmakers have lost the upper hand in the industry by outsourcing development work to suppliers and relying on them for technological knowhow, a top GM executive said.
IBTimes Logo

Hyundai revamps flagship sedan to boost brand

Hyundai Motor Co (005380.KS) on Thursday launched a new model of its flagship mid-sized sedan the world's no. 5 automaker hopes will help it grab more of the higher end car market.
IBTimes Logo

Toyota plans $1 bln marketing, more hybrids

Toyota Motor Corp (7203.T) is preparing a $1 billion marketing campaign to boost U.S. sales in the fourth quarter, while also planning to expand its line of hybrid models under the Prius name, the Wall Street Journal reported on Thursday.
IBTimes Logo

TIMELINE: China car makers eye global brands

Geely Automotive (0175.HK), the Chinese carmaker whose parent is eyeing Ford's (F.N) Volvo unit, has approached Canadian auto parts maker Magna International about possibly taking a stake in Opel, a source said.
IBTimes Logo

Billionaire Ross eyes European auto supplier

The global auto supply sector needs further consolidation, U.S. billionaire investor Wilbur Ross said, adding he was looking at potential acquisition targets, including at least one in Europe.
IBTimes Logo

Geely discussed Opel stake with Magna: source

China's Geely Automobile has approached Magna International about joining the Canadian auto part maker's bid for Opel, a source familiar with the matter said, as China chases Western brands and the technology it needs to drive future growth.
IBTimes Logo

Fisker Automotive targets 2011 profit

Fisker Automotive Inc, a builder of luxury plug-in hybrids, aims to make a profit in 2011 when its first vehicle, called the Karma, is expected to hit annual sales of 15,000 units, its chief executive said on Wednesday.
IBTimes Logo

Chrysler returns to leasing after year-long gap

Chrysler Group said on Wednesday it would offer leases on its newest vehicles just over a year after sharply tighter credit markets and plunging vehicle values forced it to retreat from the market.
IBTimes Logo

Hyundai to produce $5,000 car in India

South Korean carmaker Hyundai Motor Co (005380.KS) plans to produce a new model in India priced as low as $5,000 and targeting emerging countries, Japanese business daily Nikkei reported.
IBTimes Logo

Carmakers count down to green car targets

From major automakers to niche manufacturers, the race is on to get green cars on the road in the coming years, but one question lingers: after many false starts, are drivers finally ready for them?
IBTimes Logo

Carmakers see bumpy road to recovery

Executives at the Frankfurt Motor Show predicted a bumpy road to a car market recovery as they showcased their latest green technology, which they hope will transform the industry.
IBTimes Logo

GM CEO sees Opel signing by early October

Fritz Henderson, the chief executive of General Motors GM.UL, expects that a deal to sell a majority in Opel to a Russian-backed consortium around Magna (MGa.TO) can be signed by the beginning of next month.
IBTimes Logo

Ferrari sees 2-3 year for sales recovery

Luxury sports carmaker Ferrari thinks it could take 2-3 years for sales to return to levels seen in 2008, its chief executive, Amedeo Felisa said in an interview with Reuters TV.
IBTimes Logo

Opel warns of tough times amid political storm

Opel's chairman warned that turning around the unprofitable automaker in the next few years would not be an easy road as the sale of the European carmaker to Canada's Magna (MGa.TO) drew a political storm.
IBTimes Logo

Honeywell car parts ops expects profits

Honeywell's (HON.N) car parts business expects to post profits in 2009 and 2010, unlike many of its rivals, thanks to a growing demand for its efficiency-increasing turbo chargers, the unit's head told Reuters.
IBTimes Logo

Saab CEO hopeful on European loans

Swedish automaker Saab expects a positive outcome from the negotiations aimed at securing $600 million in loans from the European Investment Bank, its chief executive said on Tuesday.
IBTimes Logo

Ford sees more opportunity for cost cuts

Ford Motor Co (F.N) is on track to have cut structural costs by up to $15 billion since 2005, but has room to make further reductions, the automaker's chief financial officer said on Wednesday.
IBTimes Logo

Ford asks European govts to continue car subsidies

Ford Motor Co (F.N) is asking European governments to keep incentives for consumers to scrap old cars because demand remains very weak and an abrupt suspension of the programs could lead to another sharp decline in sales, the head of Ford Europe said on Tuesday.
IBTimes Logo

U.S. auto effiency plan forces gradual improvement

Automakers would be required to gradually increase fuel efficiency under a landmark U.S. government proposal that raises the fleet-wide average to 35.5 miles per gallon by 2016 and regulates tailpipe emissions for the first time.
IBTimes Logo

Europe car makers facing Asian shakeup

The European car industry could face a further shake-up with Asian companies pouncing on the chance to buy assets as China's Beijing Automotive Industry Holdings has done with Swedish car maker Saab.
IBTimes Logo

Automakers lift Canada factory sales in July

Canadian manufacturing sales rose in July at their fastest pace in 12 years after some automakers switched assembly lines back on after extended shutdowns and demand for primary metals rose sharply.
IBTimes Logo

Fiat can hit sales target with Chrysler alone

Italy's Fiat (FIA.MI) can reach its target of selling between 5.5 and 6 million vehicles with Chrysler alone but the group still considers renewal of Italy's car sale incentives as vital.
IBTimes Logo

Chrysler turnaround slow progress: CEO

Chrysler Group LLC will present a five-year business plan by the end of November that outlines numbers and the path out of two years of difficulties, its chief executive said on Wednesday.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.