'Flashes' under the gun, Opel Talks Advance, Bigger Spenders
German Deputy Economics Minister Jochen Homann said on Tuesday that German officials and General Motors had made significant progress in talks over the sale of the U.S. carmaker's Opel unit.
General Motors is taking more time to negotiate with Magna and RHJ International over the planned sale of its European arm Opel, the U.S.-based company said on Tuesday.
Toyota Motor Corp said its annual loss would be smaller than earlier forecast thanks to deeper cost cuts and government measures to jump-start sluggish global auto demand, but remained cautious on the prospects for a sustainable recovery.
Toyota Motor Corp reported its third straight quarterly loss, but beat expectations and said its annual loss would be smaller than earlier forecast, as deep cost reductions help make up for some of the slump in global vehicle sales.
General Motors Co said on Monday its U.S. auto sales fell 19.4 percent in July from a year earlier, but retail sales rose from the month before for a fifth consecutive month, supported by the U.S. government's Cash for Clunkers incentives.
More than 6,000 General Motors Co workers took buyout offers in the company's first month after emerging from bankruptcy, and it plans to cut its hourly workforce by another 7,500 through the end of 2009.
The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in.
More than 6,000 U.S. hourly workers have left General Motors Co under the automaker's latest buyout program intended to make it a leaner company after its emergence from bankruptcy.
Ford Motor Co. on Monday reported an increase of 2.3 percent to 165,279 vehicles in July monthly sales, its first monthly gain since 2007. The automaker said that it benefitted from the federal Cash for Clunkers new-car incentive program.
General Motors Co said on Monday its China vehicles sales in July jumped 77.7 percent from a year earlier, extending an uninterrupted series of single month sales records since January.
The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in.
German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International , a Belgium-based financial investor that traces its or...
German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International , a Belgium-based financial investor that traces its or...
The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in.
Ford Motor Co will report its U.S. sales for July rose from a year ago on a late-month surge under the federal government's Cash for Clunkers incentive program, senior U.S. executives said on Sunday.
The successful Cash for Clunkers program that gives drivers a rebate to turn in an old car to buy a new one moved closer to being extended on Friday when the U.S. House approved $2 billion for the program, which a dealership group said was pumping auto sales.
The U.S. Congress moved to triple the funding for the government's successful Cash for Clunkers auto rebate program, which has brought car buyers back into showrooms and raised the outlook for an industry beset by abysmal sales, bankruptcies and job cuts.
The U.S. Congress moved to triple the funding for the government's successful Cash for Clunkers auto rebate program, which has brought car buyers back into showrooms and raised the outlook for an industry beset by abysmal sales, bankruptcies and job cuts.
The successful Cash for Clunkers program that gives drivers a rebate to turn in an old car to buy a new one moved closer to being extended on Friday when the U.S. House approved $2 billion for the program, which a dealership group said was pumping auto sales.
The successful Cash for Clunkers program that gives drivers a rebate to turn in an old car to buy a new one moved closer to being extended on Friday when the U.S. House approved $2 billion for the program, which a dealership group said was pumping auto sales.
Top U.S. auto dealer chain AutoNation Inc posted a 29 percent drop in quarterly earnings, but forecast an improving market after slashing inventory costs and seeing a sharp gain in July sales.
