General Motors is increasing production cuts at one of its Korean plants because of slow Chevrolet sales in Europe. GM's Korean unit produces most of the Chevrolets sold in Europe and more than 40 percent of those sold globally.
Continental's rubber and plastics division, Contitech, is targeting further acquisitions in overseas markets to boost sales. Contitech aims to expand operations through organic growth, but also through targeted purchases, division chief Heinz-Gerhard Wente said.
Skeptics think Fiat CEO Sergio Marchionne's aim to triple Alfa Romeo's global sales to more than 300,000 units by 2016 is too ambitious. But Alfa's European boss, Louis-Carl Vignon, is convinced Alfa has enough fresh products to meet -- and possibly exceed -- Marchionne's target.
Fiat's loss-making European operations will be further weakened by the region's drawn-out auto slump, CEO Sergio Marchionne warned, adding that the carmaker may need to raise capital after it completes a planned buyout of Chrysler.
Chrysler Group is recalling more than 214,000 cars and trucks to fix a range of problems, including an engine cover that overheated and led to a fire under the hood of a prototype Ram 3500, documents released today show.
The UK has a healthy automotive industry because Margaret Thatcher bailed out British Leyland, once the country's biggest car company, and allowed Japanese automakers to establish their first European factories in the country, a leading academic said.
Fisker Automotive could file for bankruptcy protection as soon as this week as the U.S. Department of Energy pressures the green-car startup to pay back nearly $200 million in government loans, Reuters reported today.
Dale Kardos' startup company wants to help car companies buy and sell CAFE credits, which have the potential to tilt the competitive balance of the auto industry toward companies that sell more fuel-efficient cars.
GM has warned it could shift operations from South Korea in the longer term due to rising tension with the North, angering its Korean union which accuses the firm of using the instability as leverage ahead of tough annual labor talks.
When Hollywood star Danny Glover recently wrapped up shooting his latest movie in Charlotte, North Carolina, he hopped on a plane and flew to Mississippi to be a nuisance to Nissan Motor Co. Glover has decided to devote his spare time to organizing Nissan's U.S.