AUTO

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German minister says Opel situation open-paper

German Economy Minister Karl-Theodor zu Guttenberg said in a newspaper interview on Friday that discussions about troubled car maker Opel remained open but that a solution needed to be found fast.

Hummer and China’s Tengzhong a good fit: GM

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Negotiations are under way between General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery over the proposed purchase of Hummer, and the deal is a perfect fit according to GM’s CEO Jim Taylor.
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European Automakers Worry About the End of Handouts

So what happens after the stimulus and pull forwards? This is a situation we will one day be asking... as I wrote the other day the master plan seems to be for the government to give away money month after month
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Judge OKs Delphi's access to $250 million from GM

A federal judge gave bankrupt Delphi Corp (DPHIQ.PK) final approval on Tuesday to tap former parent General Motors Inc (GMGMQ.PK) for access to $250 million in funding that is expected to support the Troy, Michigan-based auto parts supplier until it can emerge from bankruptcy.
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GM sale of Saab looms as Koenigsegg steps up

General Motors is close to selling loss-making Swedish unit Saab after tiny supercar maker Koenigsegg agreed to ride to the rescue, a source familiar with the talks told Reuters.
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Retail sales in May rise for first time in 3 months

U.S. retail sales rose in May for the first time since January, according to a government report showing results which represent the ‘complete universe’ of over three million retail and food services firms nationwide.
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Premium car makers get rough ride in Japan

Never an easy market for premium car makers, Japan has become an even tougher battleground after a green tax incentive introduced in April left all foreign car brands neatly outside the fence.
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China to overtake Italy for Lamborghini: CEO

China will overtake Italy as the second-biggest market behind the United States for iconic sportscar maker Lamborghini within three to five years, the group's chief executive said on Wednesday.
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New Rolls-Royce model to double sales

British luxury car firm Rolls-Royce has received around 1,500 serious expressions of interest in its soon-to-be-launched 'Ghost' model -- a figure that would more than double the group's annual sales.
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Russia wants Opel know-how for

Russia sees the expertise of German auto maker Opel as its chance for a technological breakthrough in its ailing car industry, a top Russian government official said on Saturday.
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Toyota bets on Hybrids

Toyota Motor Corp. may bet strongly on the hybrid vehicle market in the coming decade after an executive of the firm discarded the idea that electric vehicles can become mainstream for some time unless a
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U.S. Car Sales Falls

U.S. car sales fell again in May, dropping 34% to 925,824 vehicles, but showed some signs of stabilization as Ford, General Motors and Toyota reported their highest monthly totals this year.
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U.S. Auto Sales in May in Figures

U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
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May auto sales to limp amid Chrysler, GM turmoil

A late month surge in sales from Chrysler dealerships that are losing their franchises as part of the automaker's bankruptcy may have driven U.S. auto sales in May to levels above those seen in recent months.
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GM News Roundup

GM is set to announce the sale of Hummer for $100-$200 million at some point today, marking the most anyone paid for one of those since Eliot Spitzer.
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GM

General Motors Corp is about to open the door on the biggest garage sale in U.S. industrial history.
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GM workers face uncertain future in hard times

At 8:15 a.m. ET on Monday, a General Motors executive gave hourly workers at its assembly plant here the news they feared most: the plant would close by October, robbing most of them of their jobs.
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GM leaders enter bankruptcy with hope and regret

The Interim Chairman of General Motors Corp Kent Krasa joined Chief Executive Officer Fritz Henderson today in stating his hope for a stronger, leaner company to emerge from the bankruptcy process which the company entered today but the chairman also added a note of regret in announcing the decision.
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The big American gas-guzzler: Down but not out

Even though U.S. pump prices are nearly half the $4 per gallon ($1.06 per liter) levels of a year ago, the legions of American fans of gas-guzzling SUVs and trucks don't have much to celebrate.

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