Result Page 69 for Latest Auto News & Archive

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.

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.

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.

Geely considers bond, says unrelated to Volvo

Geely Automotive (0175.HK), the Chinese carmaker whose parent is eyeing Ford's (F.N) Volvo unit, said it was considering a convertible bond issue, but added that the move is unrelated to the parent company's previously disclosed interest in the Ford unit.

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Porsche FY unit sales drop outpaces revenue decline

The head of Porsche's (PSHG_p.DE) core sports car business said he was warily upbeat about a rebound in 2010 after unit sales sank nearly a quarter -- twice as fast as revenue -- in the fiscal year to the end of July 2009.

Opel labor aims to rescue Antwerp plant

Opel workers aim to avert closure of a Belgian factory in Antwerp following a takeover by Canadian automotive group Magna (MGa.TO) by shortening working hours there, Opel's labor leader said on Tuesday.

CAW aims to wrap up working-level Ford talks

The Canadian Auto Workers is working to complete a working-level exchange of information with Ford Motor Co (F.N) this week before returning to full-scale negotiations with the No. 2 U.S. automaker, the head of the union said on Monday.

Piech, other VW execs, open to more brands

Volkswagen's (VOWG.DE) powerful supervisory board chairman, Ferdinand Piech, left open the possibility of Europe's largest car maker acquiring further brands saying a dozen is easier to remember than ten.

Toyota sees lower 2010 Europe car sales

Toyota Motor Corp (7203.T) expects industry auto sales in Europe to remain flat or decline further in 2010, from 2009, as government incentive programs cease to inflate sales, the head of the automaker's European operations said on Monday.

Fiat brand hopes for 7 pct Europe mkt share

Italy car maker Fiat SpA (FIA.MI) hopes for a 7 percent European market share for its Fiat brand at the year end, Fiat brand CEO Lorenzo Sistino said on Tuesday speaking at the Frankfurt Motor Show.

Ssangyong hit unlikely to deter China carmakers

Cash-strapped South Korean automaker Ssangyong Motor (003620.KS) proposed a capital writedown on Tuesday that would slash the stake of SAIC Motor (600104.SS), its Chinese majority shareholder.

Auto show execs comment on economy, outlook

Here are comments made by executives from the global automotive industry at the Frankfurt Motor Show this week on the economy and the industry outlook.

European carmakers ask if sales rise can last

News that European car sales rose for a third consecutive month in August kicked off the Frankfurt Motor Show, where automakers are showcasing green technology they hope will transform the industry.

VW sees increasing signs for market recovery

The chief executive of Volkswagen (VOWG.DE), Europe's largest car maker, sees increasing signs for a recovery of the automotive market but cautions that the crisis is not over yet.

Russian carmaker AvtoVAZ says to cut 5,000 jobs

AvtoVAZ (AVAZ.MM), Russia's largest carmaker, said on Monday it would cut 5,000 jobs from a workforce that has already protested against cutbacks.

Magna will work to reassure customers: co-CEO

Magna International (MGa.TO) does not believe its controlling stake in European automaker Opel will have a negative impact on its current customers, a top executive said on Monday.

EU delays van emissions clampdown

The auto industry will have to cut carbon dioxide emissions from new vans sold in the European Union by 14 percent by July 2013 or face fines, a draft EU document shows.

Porsche confident to close VW deal by 2011

The chairman of German sports car maker Porsche (PSHG_p.DE), Wolfgang Porsche, is confident that a deal with Volkswagen (VOWG.DE) can be wrapped up within the next two years, he told Reuters on Monday.

Russia AvtoVAZ to cut 5,000 jobs from Dec 14-sources

The management of AvtoVAZ (AVAZ.MM), Russia's largest car maker, has signed an order to cut 5,000 jobs starting from Dec. 14, two sources close to the company said on Monday.

Auto sales boosting Indian rubber demand - industry

Indian rubber consumption in the year to April 2010 is seen at 881,000 tonnes, slightly higher than the previous estimate of 875,000 tonnes helped by higher demand for automobiles, the country's Rubber Board said.

Chrysler's turnaround seen as race against time

Facing dwindling sales, Chrysler is discovering that it is easier to reinvent a balance sheet than a line-up of cars and trucks.

Magna sees Opel paying back state loans by 2015

Magna (MGa.TO) will cut about 10,500 Opel jobs in Europe, the bulk in Germany, as it acts to return the carmaker to profit and pay back 4.5 billion euros ($6.55 billion) in state aid, its co-chief executive said.

New Opel to invest 170 million euro in Russia: Magna

The new Opel formed when Canadian automotive group Magna (MGa.TO) and its Russian partners take over the carmaker plans to invest 170 million euros ($247.5 million) in operations in Russia, Magna co-Chief Executive Siegfried Wolf said on Monday.

GM's Lutz says one 'cash for clunkers' enough

The cash for clunkers stimulus program helped the auto industry but there is no need for another similar program, General Motors GM.UL Vice Chairman Bob Lutz said on CNBC on Monday.

Renault eyes auto sector rebound from 2010-paper

Renault (RENA.PA) has yet to emerge from the global economic crisis, although the auto sector should see a gradual rebound from 2010, the French car maker's chief operating officer, Patrick Pelata, told French newspaper La tribune on Monday.

Goldman raises price targets on European auto makers

Goldman Sachs raised its price targets on several European auto makers, saying the sector can continue to outperform, helped by potential positive 2010 earnings surprises that could come from an increase in sector consolidation.

Van makers face CO2 caps or fines in EU from 2013

The auto industry faces a cap on carbon dioxide emissions from vans in the European Union from July 2013 or fines for each vehicle that fails to comply, a draft EU document shows.

Jobs, plants in focus as Opel cuts loom under Magna

Moves to save jobs and sites at carmaker Opel when a group led by Canada's Magna International takes control continued on Sunday.

Millions in German Opel aid bound for Russia, says report

Hundreds of millions of euros in German state aid planned for carmaker Opel is earmarked for operations in Russia, an Opel trustee with reservations about the project was quoted as saying in a newspaper interview.

Bentley sees signs of revival in luxury car class

British carmaker Bentley, owned by Volkswagen, is seeing some signs of revival in the super luxury vehicle segment and expects sales of premium cars to improve next year, one of its top executives said on Friday.

Fight looms over state aid to Magna-led Opel

A Canadian-Russian consortium's plan to buy automaker Opel from General Motors faced more hurdles as scrutiny of German state aid intensified and labor leaders demanded a veto over job cuts.

Volkswagen invests more in China, talks with Proton

German carmaker Volkswagen (VOWG.DE) is bolstering its presence in Asia after approving 4 billion euros ($5.84 billion) in new investments for China and mounting another effort to build cars in Malaysia.

GM ends temporary pay cuts for white-collar staff

General Motors Co [GM.UL] has ended temporary pay cuts for salaried workers that were put in place four months ago to preserve cash before the automaker filed for bankruptcy, a spokeswoman said.

Tengzhong's Hummer deal is trade, not investment

Chinese machinery maker Tengzhong's bid to acquire the Hummer brand from General Motors Co should be viewed as a trade in technology and not an overseas investment, a top Chinese planning official said on Thursday.

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