Labor costs at Ford Motor Co (F.N) are about $16 an hour higher in Canada than in the United States, the Canadian Auto Workers confirmed on Friday, but union said it needs guarantees on production levels before it agrees to concessions to level the field.
U.S. auto maker General Motors received approval from European Union antitrust regulators on Friday to acquire parts of bankrupt U.S. car parts company Delphi. The European Commission, competition watchdog of the 27-country European Union, said in a statement that the proposed buy of Delphi's mobile electronics and transportation systems would not give rise to competition concerns.
The chief executive of Motors Liquidation Co (MTLQQ.PK), the old shell of General Motors that remains in bankruptcy court, is hoping that the company will get court approval for a plan of liquidation by the middle of next year, he said on Thursday.
Ford Motor Co of Canada (F.N) bucked the trend in September, posting comfortably higher auto sales as the broader Canadian industry continued to slide.
U.S. auto sales tumbled by 23 percent in September as showrooms emptied after the government-funded boom from the cash for clunkers program, with General Motors Co and Chrysler hardest-hit.
U.S. auto sales tumbled by 23 percent in September as showrooms emptied after the government-funded boom from the cash for clunkers program, with General Motors Co and Chrysler hardest-hit.
The global auto industry would have collapsed if the U.S. government had not provided taxpayer-backed financing for automakers General Motors and Chrysler, according to the chief executive officer of Motors Liquidation Co (MTLQQ.PK).
Congressional leaders on Wednesday pressed General Motors Co and Chrysler to resolve complaints about dealer franchise terminations the automakers pushed through during their brief bankruptcies.
General Motors Co [GM.UL] said on Thursday that its U.S. September auto sales fell 45 percent, pressured by weak consumer confidence, low inventory levels and the end of the U.S. government cash for clunkers incentives.
New automobile sales in Brazil jumped 19.85 percent in September from August, the national dealers' association Fenabrave said on Thursday, as consumers raced to take advantage of an expiring tax break.
Automakers and their suppliers must use the breathing space they have been given by bankruptcy and government programs to innovate and to create vehicles consumers want, said Corinne Ball, who led a team of attorneys representing Chrysler during its Chapter 11 reorganization.
Ford Motor Co (F.N) has room for steady growth in its share of the North American and European auto markets, Chief Executive Alan Mulally said on Wednesday.
Talks between Canadian automotive group Magna (MGa.TO), General Motors and workers at German carmaker Opel were adjourned with no result on Thursday and will resume soon, a spokesman for Opel said.
Toyota Motor Corp (7203.T) and Ford Motor Co (F.N) are likely to outsell General Motors Co [GM.UL] in the U.S. market by 2015 -- when industry sales will finally return to levels last seen in 2000, according to an industry forecasting firm.
Talks between Canadian automotive group Magna, General Motors and workers at German carmaker Opel were adjourned with no result on Thursday and will resume soon, a spokesman for Opel said.
General Motors Co will close Saturn and wind down its dealership network after a deal to sell the faltering brand to Penske Automotive Group collapsed, the automaker said on Wednesday.
Congressional leaders on Wednesday pressed General Motors Co GM.UL and Chrysler to resolve complaints about dealer franchise terminations the automakers pushed through during their brief bankruptcies.
Penske Automotive Group said on Wednesday it has terminated discussions with General Motors Co to acquire the automaker's Saturn brand.
Ford Motor Co has room for steady growth in its share of the North American and European auto markets, Chief Executive Alan Mulally said on Wednesday.
Toyota Motor Corp said it will recall some 3.8 million vehicles in the United States because of the risk that a loose floormat could force down the accelerator, a problem suspected of causing crashes that have killed five people.
China's Ministry of Commerce has approved plans by General Motors Co [GM.UL] to acquire certain assets of bankrupt Delphi Corp (DPHIQ.PK), Xinhua, the country's official news agency, reported on Tuesday.
U.S. auto sales likely fell in September back to the nearly three-decade lows of early 2009 without government incentives to spur buying, leaving in doubt the timing and pace of a recovery for the battered industry.
