MANUFACTURING DIGITAL | News for Manufacturing Executives at www.manufacturingdigital.com

GM's Vice Chairman Robert Lutz to step down in May

Lutz to retire May 1 after 47 years in the auto industry, Manufacturing Digital can reveal

Ford outsells GM

Ford has reported a jump in U.S. sales last month, selling more cars than rival GM

GM to increase funding for Opel restructuring

General Motors says it will spend 1.9 billion euros to restructure its European unit Opel, tripling the funding available to turn the firm around

GM to wind down Hummer

GM is to wind down operations of its Hummer vehicles after Chinese sale collapses

Akio Toyoda apologises for faults

Toyota's President has apologised to the U.S. Congress and American Toyota owners for safety problems that led to deaths and worldwide recalls

Toyota boss to face U.S. politicians today

The president of Toyota will face tough questioning from U.S. politicians today as their probe into safety problems at the firm continues

Akio Toyoda to face U.S. politicians today

South Korea remains world’s fifth largest automaker; takes record share of industry

South Korea's share of the world's car market rose to a high of 5.7 percent last year as the global economic crisis hit production in other countries, data from the Korea Automotive Manufacturers Association shows

South Korea takes record share of global car industry

West Midlands auto supply chain too reliant on JLR says new report

A new study on the effects of the recession on the West Midlands automotive supply chain shows a worrying over-reliance on Jaguar Land Rover following several casualties in the sector

Toyota saved $100m through ‘negotiated’ recall

Toyota Motor Corp is said to have saved $100 million by negotiating a limited recall of cars, according to documents sent to a U.S. congressional committee

Daimler cancels dividend, reports 2.6 billion euro loss

Daimler, the luxury German carmaker which makes Mercedes Benz, said, however, that it still expects a pre-tax profit of 2.3 billion euros for 2010

Toyota to fit new brake-override system on cars

Japanese carmaker Toyota has said it is to fit all of its new models with a brake-override system, as it continues to repair a reputation damaged by millions of car recalls over safety fears

Toyota stung by further recalls

Toyota voluntarily recalls certain Tacoma pickups for defect in drive shafts made by Dana

Toyota recalls some Tacoma pickups on safety fears

Michelin posts 2009 results

Full-year profits hit by declining sales; tyre manufacturer warns of “uncertainty” in the market

Bridgestone lifts projections for FY2009

Bridgestone Corp. has revised its earnings forecast for the fiscal year ended December 31, citing lower-than-expected costs

Honda’s airbag recall to be extended

Just like rival Toyota, Honda has had to extend its vehicle recall as concerns about safety grow

Japanese car manufacturer Nissan returns to profit

Nissan has reported a return to profit for the last three months of 2009

Toyota voluntarily recalls thousands of Prius cars worldwide

Toyota recalls thousands of Prius hybrid cars because of braking problems

Toyoda says cars are safe

Toyota President Akio Toyoda says the firm’s cars are safe, but admitted it faced a crisis

Toyota receives complaints over Prius brakes

Toyota’s problems go from bad to worse as drivers say the latest version of its Prius hybrid car has brake faults

Honda’s profit jumps

The Japanese carmaker has announced its strongest quarterly operating profit in a year and a half

Hummer sale delayed

GM’s plans to sell Hummer to Tengzhong delayed a month, awaiting approval

Tesla gearing up for big time

The company, which makes all-electric vehicles, is to go public

Redditch pressworker on a roll again thanks to joint venture with Weller Wheels

A specialist fund to help manufacturers emerge from the downturn has helped a Redditch-based pressworker win new business after introducing technology born in the 1960s

Wheels in motion - (left to right) Peter Roach (MAS-WM), Steve Hornsby (Machine Operator) and Tim Oscroft

Bridgestone realigns steel cord business

Company to sell its tyre cord manufacturing subsidiaries in Italy and China to Bekaert

Nissan Qashqai will create 400 Sunderland jobs

Nissan, the car manufacturer, is to make 400 jobs at its Sunderland factory in response to high demand for its Qashqai model

Toyota recalls widen

Toyota expands its huge recall to include more than a million extra vehicles

GM sells Saab to Spyker

General Motors has agreed to sell its Saab brand to Dutch luxury sports car manufacturer Spyker, ending a long-running saga

GM to invest $246m in electric motors

The motors will manufactured in the U.S., says GM

Ed Whitacre confirmed as GM CEO

Edward E. Whitacre, Jr., has agreed to continue as Chairman and CEO of General Motors and vows to repay government loans by June

JLR boss to quit

The boss of Jaguar Land Rover is to stand down, according to BBC reports

Fiat reports fourth quarter and full year 2009 results

Fiat Group has today said it lost 283 million euros in the fourth quarter and 848 million euros for all of 2009

Opel to close Antwerp plant

GM has confirmed Opel will close its Antwerp manufacturing facility with the loss of 2,300 jobs

Toyoda Gosei to bring jobs to Wales

The Japanese car-parts company is set to bring 600 jobs to Wales in a timely contribution to the manufacturing sector

Renault Clio production to stay in France (partly)

Renault’s CEO has said its new Clio model – dubbed the Clio 4 - will be built in both France and Turkey, calming fears that production would move abroad

Carlos Ghosn, Chairman and CEO of Renault

Tata sees profits surge

Indian conglomerate Tata says global auto sales grew by 84 percent in December 2009

Michelin to close Japanese plant

Michelin announces plans to end tyre production at Ota in Japan in July 2010

UK scrappage scheme nearing its end

New figures show there are less than 100,000 vehicle orders left

Bosch closes Cardiff factory

Motor parts manufacturer Bosch has decided to quit south Wales with the loss of 900 jobs

GM aims to be profitable in 2010

In an exclusive interview with China’s Xinhua news agency Tim Lee, President of GM International Operations, said the automaker will be profitable in 2010

China overtakes U.S. to become world’s largest auto manufacturer

According to data from the China Association of Automobile Manufacturers (CAAM), China has replaced the U.S. as the world’s largest auto manufacturer for the first time

GM begins Saab wind down despite sale talks

GM has started the process to close Saab, but will continue efforts to find a buyer

GM builds first lithium-ion battery for Chevrolet Volt

New battery might get industry moving in the right direction

GM says that Saab sale is unlikely

GM’s CEO Ed Whitacre has said a deal to sell Saab is unlikely as deadline for bids approaches

2009 UK car sales near 2 million

Sales of new cars in the UK reached almost 2 million last year, new figures show

The UK scrappage scheme has been a big hit

Tesla hires former Fiat exec Cristiano Carlutti to head European operations

Tesla Motors, the automaker selling highway-capable electric vehicles, has hired former Fiat executive Cristiano Carlutti to lead the manufacturer’s fast-growing European operations

GM drops deadline for Saab bids

General Motors has extended a December 31 deadline for bids for its Swedish car brand Saab, which will restart some production lines in January after a shutdown, Saab says

Venezuela’s President threatens automakers

Venezuela’s controversial President Hugo Chavez has told car companies that they ‘can leave’ Venezuela unless they share technology with local businesses

Toyota attacked by Venezuela’s President Hugo Chavez

Ford agrees Volvo sale to Geely

Auto giant confirms terms of the sale of Volvo Cars to China’s Geely in 2010

Toyota to boost global production

Toyota Motor Corp expects a 17 percent increase in its 2010 global production, excluding units Daihatsu and Hino Motors, from this year to about 7.5 million units, Japanese media reported on Saturday

The new Toyota FJ Cruiser 2010 is on display during the Dubai Motor Show December 15, 2009. REUTERS/Mosab Omar

Spyker gives GM more time to consider offer

Dutch car manufacturer Spyker has extended the deadline for General Motors (GM) to consider its proposal for the purchase of Saab

Spyker Cars shares soar on Saab offer

Shares in car manufacturer Spyker Cars N.V. have soared following a new, improved offer for General Motors’ Saab

Saab 9-3 Sport Sedan. Copyright GM Corp.

GM appoints new VP, International Operations

Ray G. Young – the firm’s current CFO - has been named as GM’s new Vice President, International Operations

Volvo to close U.S. factory

Volvo Construction Equipment is to consolidate North American industrial operations, Manufacturing Digital understands

Saab and Beijing Automotive reach technology sharing agreement

GM confirms sale of Saab assets to Beijing Automotive

Volkswagen to buy Suzuki stake

Germany’s Volkswagen is to buy a 20 percent stake in Japan’s Suzuki Motor, the pair have announced

GM makes further Volt investment

General Motors has announced it is to invest a further $336 million in a Detroit-area assembly plant

GM announces leadership changes

Mark Reuss named President of GM North America, Nick Reilly named President of GM Europe and Tim Lee is named President of GM International Operations

Chinese car sales and output passes the 12 million mark

Chinese annual car sales and production both exceeded 12 million units in the first 11 months of the year, the China Association of Automobile Manufacturers (CAAM) has said

Tata Motors announces profit

Strong performance by Jaguar Land Rover helps quarterly financials.

Spyker Cars relocates assembly to UK

Spyker Cars has relocated its vehicle assembly lines to the UK, Manufacturing Digital can reveal.

GM to start loan repayments early

General Motors has announced its July 10-September 30 Preliminary Managerial Results and revealed plans to start loan repayments early

GM to cut around 10,000 Opel jobs

AFP is reporting that GM is planning to cut around 10,000 jobs at its European division Opel after the carmaker shocked the manufacturing community by cancelling its sale to Magna

Opel/Vauxhall sale cancelled

General Motors has decided to retain its European car business Opel/Vauxhall and cancelled plans to sell a majority stake to Magna.

BMW's third-quarter profits fall after sales slide

BMW has reported a sharp fall in third-quarter profits, blaming a fall in consumers spending.

Honda profits fall

Honda's profits for the July to September period have dropped after car sales continued to crash during the global downturn.

Tata Motors reports excellent third quarter

Tata Motors, the largest carmaker in India, has seen surging profits in the three months leading up to September.

Hyundai profits reach new high

Quarterly profit at Hyundai has tripled to reach a record high, Manufacturing Digital has learnt

More details emerge on Unite-Magna deal

Details on Unite Union’s deal with Magna over Vauxhall plants' future start to emerge

Vauxhall workers take pay freeze to save jobs

The Unite Union says it has reached a deal with the new owners of GM Europe that will secure the future of Vauxhall and its 5,500 workers

UK new car sales up

UK car sales rose an annual 11.4 percent in September, the Society of Motor Manufacturers reveals

BMW SA chief announces South Africa investment

BMW has today announced it will invest R2.2 billion in South African plant to up output

Surprise slowdown in UK manufacturing

Fears for manufacturing recovery following Chartered Institute of Purchasing and Supply’s (CIPS) monthly snapshot

UK car scrappage scheme to be extended

The UK car scrappage scheme is to be extended, Manufacturing Digital understands

UK car scrappage renewal calls

A leading manufacturers’ body has called for the UK government to continue its scrappage scheme, claiming it is too early to end it.

Jaguar to shut Midlands plant

Jaguar Land Rover plans to close one of its plants in the West Midlands by the middle of the next decade, it was announced today.

Ford opening third plant in China

Ford Motor and Chang'an Motors are to announce plans for a third manufacturing plant in China, it was revealed today.

Modine Manufacturing to sell 9 million shares

Modine Manufacturing Company, a maker of thermal management systems and components, today announced that it will be offering nine million shares of its common stock for sale.

Carmakers want ‘scrappage renewal’

Carmakers are calling for European governments to continue their popular car scrappage schemes, according to reports.

Tesla Delivers 700th Roadster

Telsa delivered its 700th vehicle yesterday as European sports car aficionados lined up in Frankfurt.

Robert Bosch to cut 10,000 jobs this year

Robert Bosch, the world’s biggest supplier of car parts, expects to cut 10,000 jobs this year and keep 100,000 more on reduced hours, CEO Franz Fehrenbach said.

GM & Reva in potential JV

General Motors is reportedly poised to join forces with Reva Electric Car Company for a technical collaboration and a joint venture.

MG Rover bosses took £40 million from firm

A report into the collapse of carmaker MG Rover has revealed that bosses took more than 40 million pounds in pay and pensions from the troubled firm, Manufacturing Digital has learned.

A much-anticipated report into the collapse of MG Rover is expected to reveal that four bosses took more than 40 million pounds in pay and pensions from the troubled car giant

GM agrees sale of Vauxhall and Opel to Magna

German Chancellor Angela Merkel has today announced that Magna International will purchase a majority stake in the European unit of General Motors (GM), which includes Vauxhall and Opel.

UK Manufacturing data lifts hopes that recession is over

Hopes that Britain's recession is now over have been boosted after official figures showed the manufacturing sector grew by more than expected in July.

UK manufacturing output rose at its fastest rate in 18 months in July

Is Geely about to bid for Volvo?

China's Geely Automotive said its parent wants to bid for Ford's Volvo but only if Ford decides to sell the Swedish firm.

US manufacturing in Bloom?

Obama names Ron Bloom as manufacturing tsar.

Ron Bloom hopes to revitalise America’s manufacturing industry

New Mini models create 1,000 jobs

BMW’s plant in Oxfordshire is to build two new models of the Mini, creating up to 1,000 new jobs according to the carmaker.

Carmakers’ U.S. sales up, manufacturing output rises

U.S. carmakers have seen a growth in August car sales, whilst manufacturing output grew last month for the first time in 19 months.

Tata Motors in the red

Jaguar Land Rover’s parent company, Tata Motors, has been affected by the continuing slump in the automotive industry.

Magna posts Q2 loss on weak auto market

Canadian auto parts company Magna International Inc , one of the two bidders vying to buy carmaker Opel from General Motors, on Friday reported a second quarter loss, hurt by steep declines in global auto production.

Magna International Inc. Chairman Frank Stronach walks past a sign on top of a Ford battery electric vehicle (BEV), which is being developed in partnership with Magna, during a news conference in Ottawa June 2, 2009. REUTERS/Chris Wattie

Toyota to suspend Japanese production line

Japanese carmaker Toyota is planning to suspend one of its production lines in Japan for more than one year, the first long-term suspension at a domestic plant.

Merkel ally says only Magna would get state aid

The federal government in Berlin and the states where Opel has plants are only prepared to offer financing aid if Canada's Magna wins the battle for the carmaker, a senior ally of German Chancellor Angela Merkel said.

The emblem of an Opel vehicle is pictured in front of an Opel car dealer in Himmelkorn, near Leipzig August 9, 2009. REUTERS/Pawel Kopczynski

Mitsubishi Venezuela plant closed

Mitsubishi Motors has closed its Venezuelan car assembly plant in Barcelona, due to low productivity and violent labour disputes.

VW agrees Porsche merger

Volkswagen (VW) and Porsche have agreed the details under which VW will merge with its German compatriot by 2011.

Jaguar Land Rover receives funding boost

Tata, the Indian owner of Jaguar Land Rover, has told the UK government it no longer needs support after obtaining private funding.

General Motors, eBay test selling cars online

General Motors Co and eBay Inc said Monday that they launched a test program in California that will allow consumers to negotiate with dealers and buy vehicles online.

Magna posts Q2 loss on weak auto market

Canadian auto parts company Magna International Inc , one of the bidders vying to buy carmaker Opel from General Motors, reported a quarterly loss Friday, hurt by steep declines in global auto production.

Toyota to decide on California plant by end of month

Toyota Motor Corp will decide by the end of this month whether to pull out of a California plant it has operated with General Motors since 1984, a top executive said on Friday.

An employee is reflected on a car from Toyota Motor Corp as she wipes the car at its dealers shop in Yokohama, south of Tokyo August 4, 2009. REUTERS/Toru Hanai

Germany says Opel suitors must improve bids

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.

French automakers in red

Slump hits PSA Peugeot Citroën SA and Renault; challenging business environment blamed.

Philippe Varin, CEO of PSA Peugeot-Citroën SA

Opel Trust says has not taken any decisions on Opel bids

The Opel Trust, the German body which has been responsible for Opel since June, said on Saturday it has not made any decisions yet regarding the takeover offers for the carmaker.

OMRON to spin-off automotive electronics parts ops in April

Japanese manufacturer OMRON plans to spin-off its automotive electronic components business into a new company; first quarter performance also revealed.

AvtoVaz denies rumours of huge layoffs

Russia's AvtoVAZ, partly owned by France's Renault, has denied reports it plans to layoff a quarter of staff.

Honda posts surprise profit

Japanese carmakers Honda and Nissan unexpectedly clung to profits in the first quarter and either raised or stuck to their full-year forecasts, while France's Peugeot swung to a loss.

A visitor looks at Nissan cars at a showroom in Tokyo July 29, 2009. Nissan Motor Co posted an 86 percent fall in quarterly operating profits, hit by a stronger yen and declining car sales, and kept its forecasts for an annual loss unchanged as a lack of hybrid cars overshadowed solid sales in China. REUTERS/Kim Kyung-Hoon

Japan's carmakers stay in black, PSA swings to red

Japanese carmakers Honda and Nissan unexpectedly clung to profits in the first quarter and either raised or stuck to their full-year forecasts, while France's Peugeot swung to a loss.

A man looks at Honda's cars at a showroom in Tokyo July 29, 2009. Honda Motor Co, Japan's No.2 automaker, posted an 88 percent fall in operating profit as demand slumped, but beat expectations for a loss and lifted its forecast for the year on the back of an improved outlook for its global car sales. REUTERS/Kim Kyung-Hoon

UK electric delivery trucks finally hit U.S. roads

Electric trucks created in Washington, Tyne & Wear are today on the roads of Washington DC; the ‘new industrial revolution’ is here.

Smith Electric Vehicles can provide significant whole life cost savings compared to the equivalent diesel vehicle

Rolls Royce to build four new plants

Engine maker Rolls-Royce said on Tuesday it would build or extend four factories in Britain and open a new plant in Singapore, creating new jobs in both countries.

A visitor stands in front of a model of a Rolls-Royce engine at the Taipei Aerospace Technology Exhibition on August 14, 2003. REUETRS/Simon Kwong

Ford posts quarterly profit after debt restructuring

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt reduction plan, and said it was on track to at least break even in 2011, sending its shares up as much as 9.7 percent.

U.S. unveils car scrappage scheme

The U.S. government has unveiled details of its car scrappage scheme. The scheme is similar to the one introduced in the UK and aims persuade drivers to switch to more environmentally friendly cars.

Hyundai posts record profit

Hyundai posted a surprise 48 percent jump in quarterly net profit to a record high as a weaker won helped offshore sales and government measures boosted local demand, helping it outperform global rivals.

Hyundai cars are displayed during the second media day of the 79th Geneva Car Show at the Palexpo in Geneva March 4, 2009. REUTERS/Arnd Wiegmann

Porsche top brass stand down

German luxury car maker Porsche has said CEO Wendelin Wiedeking and CFO Holger Haerter have resigned with immediate effect.

GM meets German government on Opel bids

Canada's Magna is still Germany's preferred bidder for carmaker Opel, a government spokesman said on Wednesday ahead of a meeting with General Motors representatives to discuss the takeover offers.

Small wonder, smart car

Tata Nano finds its first customers – would you buy one?

Tata’s Nano has been labelled the people's car

Nissan receives £200m investment

Japanese car-maker, Nissan has announced that its Wearside factory will start producing batteries for electric cars, following a substantial investment from the Government.

Prime Minister Gordon Brown visiting Nissan yesterday

GM gets three offers for Opel

GM has received three binding takeover offers for its struggling Opel business

GM expects bids for Vauxhall today

General Motors has requested that potential bidders for Vauxhall and Opel table their offers today as 5,000 workers at the car manufacturer await their fate.

Harley-Davidson announces further job cuts

As part of companywide cuts announced Thursday, motorbike maker Harley-Davidson is to cut 1,000 more jobs and speed up previously announced plant closures.

Rocket man…

Darren Phillips, Manufacturing Director at Menard Competition Technologies (MCT), and a veteran of the exacting world of Formula One, takes a look at the process of machining precision components for motorsport, aerospace and other demanding sectors.

MCT has mastered every form of motorsports it has entered

Ex-GM CEO Wagoner retires with reduced benefits

Former General Motors Corp Chairman and Chief Executive Rick Wagoner, ousted in March by the Obama administration, will retire in August with a package worth $8.6 million in the first five years, the company said on Tuesday.

Former General Motors Corp Chairman and Chief Executive Rick Wagoner addresses the media during a news conference at GM World Headquarters in Detroit, Michigan February 17, 2009. REUTERS/Rebecca Cook

Steven Rattner to leave autos task force

Steven Rattner will leave as head of the U.S. autos task force, which oversaw bankruptcies at General Motors Corp and Chrysler Group, at a time when a probe into how the private equity firm he co-founded gained New York pension business has intensified.

Quadrangle Group co-founder Steve Rattner in New York, April 11, 2007. REUTERS/Eric Thayer

Honda to begin sales of two more Hybrid models in 2010

Honda, which is currently benefiting from healthy hybrid sales, has announced plans to begin selling new models in 2010.

Carbon trading in aviation: Birth of a new market?

Manufacturing Digital examines GlobalData's new report “Carbon Trading in Aviation: the birth of a new market” and learns how the industry could “reap rich dividends” from selling carbon credits.

Belgium's RHJ in advanced talks to buy Opel

RHJ International declared its interest in Opel on Monday and Qatar looked to be moving closer to a $7 billion bailout of Porsche , raising the stakes in the battles for control of both German carmakers.

Employees arrive at the Opel assembly plant in Antwerp June 15, 2009. REUTERS/Thierry Roge

Volkswagen improves bid for Porsche: report

Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than 4 billion euros ($5.58 billion), Germany's Der Spiegel reported.

Signs for a VW-Porsche 914 car are pictured at a car dealer in Bochum May 7, 2009. REUTERS/Ina Fassbender

"New GM" ready to exit bankruptcy

General Motors on Friday prepared to exit bankruptcy with the message that a leaner and meaner automaker ready to win back American consumers and pay back taxpayers has emerged from its failure.

A flag waves in front of the General Motors Corp world headquarters in downtown in Detroit, May 28, 2009. REUTERS/Mark Blinch

GM confirms Chinese Opel bid

GM has confirmed China's Beijing Automotive has joined bidding for Germany-based Opel.

Volvo secures record truck order in India

Volvo Trucks India has secured an order for 125 trucks, the biggest in its history

Hybrids boost Toyota and Honda car sales

Toyota Motor Corp's Prius hybrid was Japan's best-selling car in June while Honda Motor Co's rival Insight ranked fourth, helping the two hybrid leaders dominate the list of top-selling models.

A Toyota Prius sedan is pictured in Los Angeles October 14, 2005. REUTERS/Fred Prouser

UK auto slowdown eases as scrappage scheme lifts car orders

SMMT says the UK's car scrappage scheme is having a positive impact on the industry as new car sales fell at their slowest rate for almost a year.

GM to be re-launched mid-July

A U.S. judge has approved GM’s bankruptcy plan, which allows the car giant to transfer its profitable assets to a new government-backed firm.

Ford Canada sales jump 25 percent in June

Ford Motor Co of Canada was the number one selling automaker in the country for the first time in 50 years as it posted a 25 percent jump in sales in June over a year earlier, the company said on Thursday.

A Ford auto in the showroom at the Sill-TerHar Motors Ford dealer in Broomfield, Colorado June 2, 2009. REUTERS/Rick Wilking

Tesla gets loan approval

U.S. Department of Energy loan will fund the construction of a new assembly plant for the Model S and another facility to manufacture electric powertrains.

Hitachi to supply lithium-ion batteries to GM

Hitachi has announced that it will be providing lithium-ion batteries that power hybrid cars to General Motors from next year.

U.S. auto sales seen showing signs of stability

Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.

Chevrolet cars sit for sale in Lyons, Illinois June 1, 2009. REUTERS/John Gress

General Motors to seek approval to sell itself

General Motors Corp's chief executive told a U.S. bankruptcy court on Tuesday that the sale of GM's main assets to government-backed "New GM" must win court approval in order for the automaker to survive.

A sign advertising a sale at the Burt GM auto dealer in Denver June 1, 2009. REUTERS/Rick Wilking

Porsche seeks alternative funds after state loan is rejected

The German carmaker’s request for a 1.75 billion euro loan has been rejected and it has now said it will look for ‘alternative funds’.

GM to cut ties with NUMMI

General Motors plans to quit a joint venture with Toyota to make cars at New United Motor Manufacturing Inc (NUMMI) in Fremont.

GM accepts liability for future claims

General Motors Corp has agreed to accept liability for future product defects in a bid to break free of Chapter 11 bankruptcy.

More UK jobs may be lost at Jaguar Land Rover

Tata Motors has warned that further job cuts may be made at Jaguar Land Rover.

Hummer takeover to be blocked

Sichuan Tengzhong Heavy Industrial Machinery’s bid to buy the gas-guzzler will be blocked on environmental grounds, according to the BBC.

Toyota product lines under review

Toyota is to review all of its products as its new president seeks to revive the carmakers fortunes.

Volvo: Heavy trucks of the future will be super-light

Truck manufacturer Volvo has created a method for constructing trucks that weigh less but carry the same load.

Toyota confirms new management under Akio Toyoda

Toyota Motor Corp confirmed Akio Toyoda as its new president on Tuesday, promoting the grandson of the company's founder to guide the world's No.1 automaker through the worst downturn in its history.

Toyota Motor Corp executive vice president Akio Toyoda speaks during an unveiling of its new seven-seater compact vehicle

UK Government launches £25m electric car scheme

A trial of environmentally-friendly cars has been launched in the UK which will see members of the public test a range of vehicles.

Shares of Magna jump on global production outlook

Shares of auto-parts supplier Magna International Inc rose more than 7 percent on Tuesday after an analyst said global auto production has bottomed and should rebound in the second half of the year.

Magna International Inc. Chairman Frank Stronach gets in the passenger seat of a Ford battery electric vehicle (BEV), which is being developed in partnership with Magna, during a news conference in Ottawa in this June 2, 2009 file photo. REUTERS/Chris Wattie

Saab sale to Koenigsegg agreed

General Motors has reached a tentative agreement to sell Saab to the Swedish sports car manufacturer Koenigsegg.

UK scrappage scheme seen as success

Government figures have revealed that over 60,000 orders have been placed under the UK's car scrappage scheme.

Euro car sales post 13th straight drop

New car registrations in Europe fell for the 13th straight month in May as many companies struggled to move metal without the benefit of cash incentives from governments, industry data published on Tuesday showed.

A new Mercedes car is driven past the Royal Exchange building in central London May 7, 2009. REUTERS/Luke MacGregor

Used cars congest Indian roads as sales spike

When Indian insurance executive K. Shankar shopped for a car, he was pleasantly surprised to discover he could buy a three-year-old SUV in near mint condition for just a bit more than a new hatchback.

Used cars for sale are displayed at a car company in Mumbai June 5, 2009. REUTERS/Arko Datta

LDV may get bid from telecoms tycoon

British van maker LDV, which fell into administration last week, may get a takeover bid from telecoms entrepreneur John Caudwell, the Mail on Sunday reported.

LDV vans are seen parked at their plant in Birmingham, central England in this February 23, 2009 file photograph. REUTERS/Darren Staples/Files

BMW named Which? top manufacturer

BMW has been named Best Car Manufacturer at the prestigious Which? awards, beating off competition from the likes of Skoda and Mazada to scoop the top prize.

Vauxhall staff pin hopes on Astra

Workers at carmaker Vauxhall are confident the start of production of the new Astra model will secure the immediate future of the group's Ellesmere Port plant.

The badge on a new Vauxhall car is seen at Downing Street in central London May 29, 2009. REUTERS/Toby Melville

Fiat completes Chrysler deal

Fiat and Chrysler have completed the strategic alliance that will create a new firm out of Chrysler’s “good” assets.

Chrysler sale close, says Fiat

Fiat says purchase of Chrysler assets is expected soon after the U.S. Supreme Court rejects creditors' objections.

Court delays Chrysler sale

Chrysler’s sale to Fiat temporarily blocked by a U.S. Supreme Court justice, with no indication how long the delay would last. Is liquidation close?

LDV folds, hundreds of jobs lost

Hundreds of workers lose their jobs as van maker LDV falls into administration.

GM to halt medium-duty truck production

GM to halt production of Chevrolet Kodiak and GMC Topkick medium-duty trucks by July 31 after attempts to sell the operation fail.

U.S. urges top court to allow Chrysler sale

The Obama administration urged the U.S. Supreme Court on Monday to allow the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA , saying that blocking the deal would have "grave consequences."

Chrysler vehicles sit on the lot at a Performance Chrysler Jeep Dodge dealership in Phoenix, Arizona May 16, 2009. REUTERS/Joshua Lott

Tenneco continues Chinese expansion

Last round of investment includes a new emission control JV partnership in Beijing/emission control manufacturing presence in Guangzhou.

Tenneco has a balanced customer base, serving original equipment manufacturers on a global basis

Magna sees $3.3 billion swing at Opel by 2014: report

Magna plans to improve Opel's annual earnings by $3.3 billion over the next five years as part of a business plan to take over the European carmaker, the Frankfurter Rundschau reported on Thursday.

Magna co-Chief Executive Siegfried Wolf (R) and GM Europe President Carl-Peter Forster attend a news conference after talks in the headquarters of German car manufacturer Opel in Ruesselsheim June 3, 2009. REUTERS/Johannes Eisele

Tesla bucks the trend

Tesla Motors is bucking the general trend in the automotive industry by announcing that it will open seven regional sales and service centers in the coming weeks, establishing a coast-to-coast network in North America and a solid retail footprint in Europe.

Magna sees Opel deal completion in September

Canadian auto supplier Magna International aims to close a deal with General Motors over its Opel unit in September, Magna's co-Chief Executive Siegfried Wolf said Wednesday.

Hummer: And the winner is…

General Motors is to sell its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery for an undisclosed amount.

Sichuan Tengzhong Heavy Industrial Machinery to buy Hummer

GM reaches deal to sell Hummer brand

General Motors says it has entered into a memorandum of understanding to sell its Hummer brand, but didn't name the buyer or say how much money it would get for the all-SUV line

Weststar pulls out of LDV takeover deal

Van maker LDV has been forced to reapply for administration after Malaysian company Weststar announced that it has decided not to purchase the firm.

Opel/Vauxhall: The waiting game

As workers at Opel and its UK brand Vauxhall anxiously await news on their futures, reports surface that they’ll have to wait at least three months before they know which jobs are to go.

Opel/Vauxhall workers anxiously await news on their futures

GM files for bankruptcy

GM has filed for bankruptcy protection in a New York court, in a widely expected move.

Honda’s production line restarts

Honda’s car factory in Swindon restarts after a four-month shutdown.

Chrysler sale approved

U.S. car company Chrysler has secured court approval to sell most of its assets to a consortium led by Italy’s Fiat.

GM braced for bankruptcy

GM, the 101-year old carmaker, which has run up losses of $81 billion over four years, is expected to file for bankruptcy protection later today.

Magna reaches GM Europe rescue agreement

Magna International is said to have reached an agreement with General Motors to provide funding to GM Europe, according to reports.

Vertu Motors to raise £30 mln

Car retailer Vertu Motors said on Thursday it was raising about 30 million pounds in a placing to invest in new dealerships, and said it was trading ahead of company expectations.

Opel talks break down

Germany blames U.S. after Opel rescue talks collapse.

Talks aimed at saving General Motors' European Opel unit have broken down

BAIC enters race for GM’s European operations

China’s Beijing Automotive Industry Corp joins Fiat, Ripplewood Holdings and Magna in race to buy GM's European operations, say reports.

CAW reaches cost-cutting agreement with GM

The Canadian Auto Workers Union has approved an agreement with General Motors that will reduce labour costs, as important deadline looms.

GM reaches cost-cutting agreement with CAW

Honda workers accept pay cut

Workers at Honda's Swindon plant have voted in favour of taking a three percent pay cut for 10 months in an attempt to safeguard 490 jobs.

US Treasury injects $7.5bn in GMAC

The US Treasury is to give finance group GMAC $7.5 billion in further state aid.

Rolls Royce creates 150 manufacturing jobs

Car maker Rolls Royce has announced the creation of 150 new manufacturing jobs at its Goodwood site in West Sussex.

Daimler buys 10% stake in Tesla

German car manufacturer Daimler announced it has purchased a 10 percent stake in electric car start-up Tesla Motors.

Ford and Honda delay involvement in government scrappage scheme

The highly-awaited government scrappage scheme loses two leading carmakers after a chaotic launch Monday.

Production at LDV plant to restart by July

Van maker LDV is due to restart production at its plant by July following a last-minute rescue deal, Weststar reported.

Germany aims to decide on Opel help in May: politician

The German government is examining competing plans to invest in carmaker Opel and aims to decide by the end of the month whether to provide the firm with financing guarantees, a leading Social Democrat (SPD) said.

An Opel sign is pictured near the General Motors German unit Opel's headquarters in Ruesselsheim April 23, 2009.REUTERS/Johannes Eisele

Trouble at Toyota?

Toyota, the world's largest automaker, has made its first annual loss and warned it would fall deeper into the red this year.

GM posts Q1 loss

General Motors said it burnt through $10.2 billion (6.8 billion pounds) in the first quarter as it relied on a federal bailout to ride out a sharp decline in global sales that overwhelmed its cost-cutting efforts.

A General Motors Pontiac sign is seen at an auto dealership in Dearborn, Michigan April 24, 2009. REUTERS/Rebecca Cook

Honda to take part in UK scrappage scheme

Orderbooks open at Honda dealers for car scrappage scheme.

Marchionne to become Chrysler CEO

Fiat Group CEO Sergio Marchionne will become the Chief Executive of Chrysler once the U.S. automaker emerges from bankruptcy protection, Manufacturing Digital understands.

Marchionne's vision is to create global automotive giant

Volvo auction moves ahead; decision possible soon

Ford Motor Co's sale of Volvo is moving ahead as it runs due diligence on the remaining bidders, and a buyer could be announced by the end of this month or next, two sources familiar with the matter told Reuters.

GM seen posting deep loss as deadline looms

General Motors Corp is expected to report a deep loss on Thursday for the first quarter in its last earnings report before the deadline for a restructuring that would wipe out current shareholders.

The entrance to the Austrian factory of General Motors is seen in Vienna May 5, 2009. REUTERS/Heinz-Peter Bader

MG Rover inquiry costs £15m so far

The Government's long-running probe into the failure of MG Rover in 2005 has already cost more than 15 million pounds, according to the government.

Fiat seen to shrink plants across Europe

The proposal for General Motors' European assets that Italy's Fiat presented to the German government on Monday includes plans to shrink plants across Europe, a German newspaper reported.

Chrysler CEO sees "clear path" to survival

Bankrupt Chrysler has a clear path to an alliance with Italy's Fiat , the U.S. company's chief executive said while rival Ford reported on Wednesday it has sufficient liquidity and its restructuring remains on track, boosting its shares.

Chrysler, Jeep and Dodge vehicles are parked in a lot next to the idle Chrysler Belvidere Assembly plant Belvidere, Illinois May 4, 2009. REUTERS/Frank Polich

Porsche proposes VW merger

Luxury sports car marker Porsche has proposed closer ties with Volkswagen after weeks of talks.

Unions set to fight Fiat/Opel deal

Unions representing car workers from the UK to Poland are drawing up defences against massive job cuts and plant closures which are likely if Fiat's plan to combine with General Motors Europe goes ahead.

A flag of Opel and a flag of Fiat are pictured at a car seller in Darmstadt May 6, 2009. REUTERS/Johannes Eisele

Ford plans $550 million plant upgrade

Ford Motor Co on Wednesday unveiled a $550 million investment to convert an SUV plant near Detroit to build a new generation of Focus small cars next year and a battery-electric Focus in 2011.

A Ford sign at the New York International Auto Show, April 8, 2009. REUTERS/Eric Thayer

Bankruptcy judge mulls Chrysler plan, GM talks loom

A U.S. bankruptcy judge approved bidding procedures for the rapid sale of most of Chrysler's assets, over objections from a group of lenders who called the accelerated timetable an "absurdity."

Magna results sink with auto sales

Auto parts company Magna International Inc reported a quarterly loss on Wednesday, as the global auto slump undercut demand for its products.

Sale of LDV agreed

The sale of van maker LDV to Malaysian firm Weststar has been agreed, a spokesman has said on the company’s blog.

Weststar on the verge of LDV deal

Malaysian vehicle importer Weststar is said to have agreed to a deal to rescue van maker LDV.

Chrysler gets court approval on loan, Opel heats up

Chrysler won interim approval from a U.S. bankruptcy court to access a $4.5 billion loan as it tried to move ahead in its planned alliance with Fiat SpA, while the Italian automaker advanced its bid for General Motors Corp's European Opel brand.

A Fiat Panda is parked next to a Jeep Wrangler (L) at a Chrysler dealership in Rome April 30, 2009. REUTERS/Tony Gentile

GM takes $500 million in Canadian loans

General Motors Corp's Canadian unit accepted C$500 million ($424 million) in short-term loans from Canada and the province of Ontario on Monday to help it restructure in time to qualify for longer-term aid.

Full scale of Chrysler’s debt starting to emerge

Magna Powertrain and many others owed millions in Chrysler bankruptcy.

Chrysler bankruptcy deal: Know the basics

As U.S. carmaker Chrysler files for Chapter 11 bankruptcy protection, Manufacturing Digital outlines the proposals.

Fiat Chrysler alliance: Marchionne statement

Fiat Group and Chrysler enter “global strategic alliance,” says Fiat boss.

Chrysler files for bankruptcy

Chrysler is to file for bankruptcy today, the White House has confirmed.

Chrysler hours away from bankruptcy protection

Chrysler is just a few hours away from a key deadline that could force it to file for bankruptcy protection.

Bombardier wins C$1.2 bln Toronto streetcar bid

Toronto's transit authority confirmed on Monday it will award a $1.2 billion contract to build a fleet of streetcars to Canadian transportation giant Bombardier Inc .

Daimler to give up Stake in Chrysler and write off loans

Daimler has made a deal to give up its 19.9 percent stake in Chrysler, as well as forgiving the company’s outstanding loans.

GM to cut a further 21,000 jobs

GM, which has been struggling with falling demand in the economic crisis, has announced plans to cut a further 21,000 US jobs this year. It will also phase out its Pontiac brand.

GM plans to announce stepped up cost cuts: sources

General Motors Corp is set to announce on Monday an accelerated restructuring that would close additional plants and pave the way for a debt exchange by the struggling automaker, sources briefed on the plan said on Sunday.

GM draws loan

General Motors soaked up $2 billion more in U.S. government aid.

Chrysler creditors urged to make concessions

With just days to go for Chrysler LLC to reach agreements to cut labor and debt costs or face bankruptcy, members of Michigan's Democratic congressional delegation said on Saturday the onus was now on the U.S. automaker's creditors to make concessions.

Vehicles for sale are lined up at a Chrysler dealership in Glendale, California April 24, 2009. REUTERS/Mario Anzuoni

Germany to examine Magna stake in Opel

German Economy Minister Karl-Theodor zu Guttenberg said on Saturday Austrian-Canadian auto parts supplier Magna is a potential investor in General Motors' struggling German unit Opel.

U.S. manufacturers see no quick economic rebound

More U.S. manufacturers are giving up the hopes they had for an economic rebound later this year.

A worker on an assembly line in a file photo. REUTERS/File

March car production down 51.3 percent

Car production fell 51.3 percent in the year to March as falling demand forced manufacturers to cut output sharply, the Society of Motor Manufacturers and Traders said on Friday.

New Land Rovers stand in a car park outside the Jaguar Land Rover plant at Halewood in Liverpool, April 20, 2009. REUTERS/Phil Noble

Ford reports loss as sales drop

Ford announces a $1.4b billion loss for the first three months of this year as sales drop in the recession.

GM to close factories temporarily

General Motors has announced plans to temporarily close 13 factories in the U.S. and Mexico as it tries to cut costs and control its stock levels.

Volvo announces further job cuts

Truckmaker Volvo has announced it plans to cuts 1,543 jobs in Sweden as demand falls.

Peugeot-Citroen Q1 sales down 25%

France’s biggest carmaker, Peugeot-Citroen, has reported that sales in its first quarter dropped 24.9 percent as it becomes the latest victim of the auto industry slowdown.

Construction begins on new Honda plant

Blue Energy begins construction of Honda’s new lithium-ion battery plant.

GM wields axe, ready to sell Opel/Vauxhall stake

General Motors cut 1,600 salaried staff last night as part of huge layoffs and is preparing to “give away” Opel and Vauxhall.

Lithium-ion battery makers’ Michigan boost

Four Lithium-ion battery makers to set up shop in Michigan.

Fiat boss fires warning to Chrysler Unions

Plans for a Fiat-Chrysler partnership will be abandoned if the US carmaker’s unions don’t make concessions, Sergio Marchionne has warned.

Sergio Marchionne fires warning to Chrysler Unions

Visteon pay-offs talks due later

Talks are expected to begin in London later today, April 15, to resolve the long running dispute at three Visteon sites.

Exhaust Type Approval… why follow Europe?

UK type approval for replacement exhausts is set to become a more serious issue in the not too distant future, says UK Manufacturer Klarius.

Bankruptcy Looms Says GM Chairman

Interim Chairman of GM admits the automaker is running out of time, says The Wall Street Journal.

GM recalling 1.5m vehicles over potential fires

Struggling automaker to recall 1.5 million vehicles due to fire risk.

GM to recall 1.5 million vehicles due to fire risk

Scrappage scheme decision expected soon

Gordon Brown to make decision on £2,000 new car incentive scheme within days, Manufacturing Digital understands.

Manufacturing Digital: Most Read Stories

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Toyota revamping U.S. operations?

Toyota Motor Corp plans to overhaul its U.S. operations, bringing sales, manufacturing and engineering under one powerful executive, according to a Wall Street Journal report.

$5bn to keep auto parts flowing

U.S. Treasury launches $5 billion program for suppliers.

Klarius pumps £1.2m into UK manufacturing and R&D

Investment fuelled by impressive export growth in the automotive aftermarket sector, says Klarius Group.

GM and Segway to create new vehicle

The pair are working on a new balancing electric two-wheeler, P.U.M.A

GM and Segway to create new balancing electric two-wheeler, P.U.M.A

EIB approves funding for Jaguar Land Rover and Nissan

The European Investment Bank’s (EIB) approval is a big boost to UK car industry.

EIB approves funding for Jaguar Land Rover (JRL) and Nissan

Chrysler Canada set to reopen assembly plants in Ontario

Chrysler is to reopen its Windsor and Brampton plants today, April 7, after parts dispute is resolved

Ford Reduces Debt by $9.9bn

Ford Motor Co says its debt will fall by $9.9 billion as a result of its recent attempts to restructure debt obligations.

Jaguar Land-Rover to get £270m EIB loan

Jaguar Land Rover will get approval for a loan of 270 million pounds from the European Investment Bank on Tuesday 7 April, Manufacturing Digital understands.

Bankruptcy not certain, says GM CEO

Bankruptcy is not a foregone conclusion for General Motors Corp, said the automaker's new Chief Executive Fritz Henderson, who is working hard to restructure the struggling car maker.

UK March car registrations fall

New car sales in Britain fell by 30.5 percent in March, says The Society of Motor Manufacturers and Traders.

GM’s finance division bids to revive sales

GMAC Financial Services, General Motors' finance division, is cutting financing costs and reviving sub-prime lending to speed up a car sales revival.

Tesla receives over 500 Model S orders in a week

Tesla Motors has taken 520 reservations for the Model S, a groundbreaking electric car that carries up to seven people and travels up to 300 miles per charge.

The Model S is billed as the world’s first mass-produced, highway-capable electric vehicle

GM denies asking for £600 million in Vauxhall aid

General Motors says it has not approached the British government to discuss an aid package for Vauxhall.

Visteon UK goes bust

565 jobs axed as car parts maker Visteon’s main UK arm goes into administration.

Visteon UK has entered administration, 565 jobs axed

VW hedges give Porsche 6.8 billion euro windfall

Porsche SE landed a 6.8 billion euro ($8.99 billion) windfall from its share options in Volkswagen during the first half, lifting its pretax profit to more than twice its revenue.

Chrysler agrees on framework of alliance with Fiat

Chrysler LLC has reached an agreement on a framework of a global alliance with Italian automaker Fiat SpA that has the support of the U.S. Treasury, Chrysler's CEO Bob Nardelli said on Monday.

A worker cleans a 300 C type car at the exhibition stand of Chrysler during a preview day of the 79th Geneva Car Show at the Palexpo in Geneva March 2, 2009. REUTERS/Arnd Wiegmann

Peugeot ousts Streiff as sector troubles deepen

Christian Streiff has made a career of waging and often losing corporate battles, but the outspoken executive's exit from carmaker Peugeot may say more about a culture clash in French boardrooms than his own record.

Peugeot sack chief executive in shake up

U.S. Government rejects GM rescue package, for now

Shares in General Motors plummet on news the Obama administration has rejected multi-billion dollar rescue deal

GM chairman to step down

Rick Wagoner to quit struggling car maker at the request of the White House

Obama to speak on auto bailout future

Announcement to come next week; GM, Chrysler to learn their fate.

Canada, like U.S., sees auto plan this month

Canada said on Thursday it would make an announcement about the struggling auto industry by the end of March, roughly coinciding with a scheduled announcement by the United States.

Tesla unveils groundbreaking electric car

Tesla Unveils World’s First Mass-Produced, Highway-Capable EV

Ford says holding detailed talks on Volvo

Ford has moved a step closer to a sale of its loss-making Swedish brand Volvo Car Corp, opening detailed discussions with potential buyers, it said in a message to Volvo employees on Wednesday.

A man walks past a sign of Ford Werke AG headquarters in the western German city of Cologne March 16, 2009. REUTERS/Ina Fassbender

China challenging the US in electric car race

China is taking on Uncle Sam in the race to develop cheaper low-emission cars, with a 1.5 billion pounds boost for Chinese electric cars over the next three years.

BYD carving a new niche with E6 electric car

Ford CEO compensation drops 37 percent in 2008

Ford Motor Co Chief Executive Alan Mulally's total compensation fell 37 percent to $13.6 million last year and he received no bonus -- but he won't have to fly commercial.

Ford Motor Co. President and Chief Executive Alan Mulally speaks during his keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2009. REUTERS/Rick Wilking

Bentley seller HR Owen's profit halves

Luxury car retailer HR Owen , which sells Bentleys, Ferraris and Maseratis, said its 2008 pretax profit halved as the economic slowdown bit.

The Bentley Continental GTC Speed is displayed during the North American International Auto Show in Detroit, Michigan January 11, 2009. REUTERS/Mark Blinch

Can battery electric vehicles break out of niche?

Strategy Analytics report calls for “new breakthroughs in technology” if battery electric vehicles (BEV) are to break out of niche.

the Tesla Roadster, an all-electric sports car

Daimler capital hike to make Abu Dhabi biggest investor

Daimler will raise 1.95 billion euros ($2.67 billion) in fresh capital through the sale of a 9.1 percent stake to Abu Dhabi's Aabar Investments PJSC , the two companies said on Sunday.

Daimler increases capital to welcome new investor

Daimler will raise 1.95 billion euros ($2.67 billion) in fresh capital through the sale of a 9.1 percent stake to Abu Dhabi's Aabar Investments PJSC , the two companies said on Sunday.

Stocks and shares in the newspaper with a pair of dice on top

Fiat would not assume debt under alliance: Chrysler

Chrysler LLC said on Friday that Italy's Fiat SpA would not assume any of its debt under a proposed alliance between the automakers, backing down from a claim it had made just a day earlier in a bid to bolster support for the deal.

Car production down 59 percent in Feb

Car production in February fell by 59 percent year-on-year in February as falling demand forced manufacturers to cut output, the Society of Motor Manufacturers and Traders said on Friday.

A car transporter leaves Toyota's Burnaston plant near Derby, central England, March 11, 2009. REUTERS/Darren Staples

Fiat denies plan to assume Chrysler debt

Italy's Fiat SpA denied on Friday it would assume any current or future debt from Chrysler LLC , the troubled U.S. car maker with which it plans to form a partnership.

Visitors walk on the Fiat booth during the second media day of the 79th Geneva Car Show at the Palexpo in Geneva March 4, 2009. REUTERS/Denis Balibouse

Treasury launches $5 billion auto supplier aid plan

The Obama administration pledged up to $5 billion on Thursday to immediately assist auto suppliers whose health is crucial to the survival of stricken U.S. car manufacturers.

Canada says it already assists auto suppliers

The Canadian government welcomed U.S. plans to help the U.S. auto parts industry on Thursday and said it already had a similar program for Canadian parts suppliers.

Mitsubishi Motors cuts jobs in Europe

Japanese automaker Mitsubishi Motors Corp will cut European jobs as it implements a new business model for Europe.

Mitsubishi Motors restructuring European operations, job cuts

Chrysler says Fiat to assume 35 percent of U.S. debt

Chrysler said proposed partner Fiat SpA would assume 35 percent of its debt to the U.S. government and the U.S. automaker would no longer pay retention bonuses to key executives.

A new Chrysler sign is seen in front of the Chrysler headquarters in Auburn Hills, Michigan August 4, 2007. REUTERS/Rebecca Cook

Toyota says Canada must get auto stimulus flowing

The Canadian auto market needs some sort of stimulus now to stop a gradual decline in demand that threatens to wipe out a good chunk of yearly sales, a Toyota Canada executive said on Wednesday.

A Toyota vehicle is displayed at a Toronto dealership January 6, 2009. REUTERS/Fred Thornhill

BMW fixed on cash for independence

Luxury carmaker BMW said on Wednesday it intended to stay independent despite the decline in vehicle demand, as Ford became the second carmaker to offer securities backed by auto loans to take advantage of a U.S. program aimed at thawing consumer credit for new vehicles.

Little Nano carries a big burden for India's Tata

SANAND, What a difference a year makes.

A long time exposure picture shows the Tata Nano during the first media day of the 79th Geneva Car Show at the Palexpo in Geneva, March 3, 2009. REUTERS/Valentin Flauraud

Hitachi to split core businesses

Hitachi will split its automotive systems and consumer electronics businesses as part of a massive cost cutting operation.

U.S. output plummets, manufacturing at record low

U.S. industrial output fell to its lowest level in almost seven years in February and manufacturing in New York state slumped further this month, according to data on Monday that pointed to a worsening economy.

Chrysler Canada cannot afford GM-CAW deal: source

Chrysler cannot afford the same labor agreement General Motors signed with the Canadian Auto Workers union and if the deal cannot be sweetened, it would be more cost effective for Chrysler to pull out of Canada, a source with direct knowledge of the situation said on Friday.

Workers load newly manufactured Chrysler 300's and Magnums onto trucks at the DaimlerChrysler Assembly plant in Brampton, February 14, 2007. REUTERS/J.P. Moczulski

Scania and Norway Post sign Framework agreement

Norway Post chooses Scania as main supplier.

Aston Martin expects 2009 sales to slow: report

British sports car maker Aston Martin expects to sell fewer cars this year compared to last year due to the economic crisis, the company's chief executive told German newspaper Die Welt in an interview.

A worker cleans an Aston Martin V8 Vantage car ahead of the opening of the Grand Luxe exhibition in Brussels, October 30, 2008. REUTERS/Francois Lenoir

U.S. autos task force hires bankruptcy lawyer

President Barack Obama's task force on the auto industry has hired a bankruptcy lawyer to advise it on its options.

People walk through a car lot at a Chrysler dealership in the Chicago suburb of Oak Lawn, Illinois March 3, 2009. REUTERS/Frank Polich

GM recalls thousands of vehicles for gear fix

General Motors Corp is recalling 276,729 passenger vehicles to correct a problem in certain cars that could cause them to roll when parked, the U.S. government said on Friday.

The 2009 Chevrolet Traverse makes its debut during the Chicago Auto Show February 6, 2008. REUTERS/John Gress

Ford CEO gets option to buy 5 million shares

Ford Motor Co has granted Chief Executive Alan Mulally options to buy 5 million shares in the automaker under a long-term incentive plan, it said in a U.S. regulatory filing on Friday.

GM says can survive March without new aid

General Motors Corp has told U.S. officials that it can survive without $2 billion in additional aid that it had requested to get through March, the automaker said on Thursday.

Rick Wagoner, Chairman and Chief Executive Officer of General Motors, listens during a meeting between President Barack Obama and business leaders at a hotel in Washington, March 12, 2009. REUTERS/Jason Reed

BMW posts surprise loss, VW sees worse ahead

The economic crisis threatening to topple global automakers rocked two of Europe's biggest on Thursday as BMW posted a surprise fourth-quarter loss and Volkswagen warned of worse ahead.

Toyota to cut UK staff pay and hours

The British arm of Toyota is to cut UK staff pay and working hours by 10 percent to save money in the face of a sharp downturn in global demand, the Japanese auto maker said on Wednesday.

The Toyota Avensis car is displayed on media day at the Paris Mondial de l'Automobile October 3, 2008. REUTERS/Jacky Naegelen

Government says auto aid approved

The government has received clearance from the European Commission to go ahead with its 2.3 billion pound aid package to its ailing car industry and said it now welcomed applications for funds from manufacturers.

Ford sees $500 million annual savings in UAW agreement

Ford Motor Co said on Wednesday that it expected operating savings of $500 million per year from an agreement with the United Auto Workers that will push hourly wage rates into the "ballpark" of foreign-based rivals.

A worker secures a large Ford sign to a truck after removing it from Al Long Ford auto dealership in Warren, Michigan December 23, 2008. REUTERS/Rebecca Cook

UK offers grant to Land Rover for new car

The government has offered a grant of up to 27 million pounds to Land Rover for the production of a new car, it said on Wednesday.

GM says Opel not preparing for insolvency

Struggling U.S. carmaker General Motors denied a weekend newspaper report its German unit Opel was preparing for insolvency.

Ford launches major debt restructuring

Ford Motor Co on Wednesday announced a plan to cut its $25.8 billion in automotive debt by about 40 percent by offering creditors cash and new shares as it looks to slash financing costs at a time of plunging sales and tight credit.

The sign outside a Ford dealership in Broomfield, Colorado July 23, 2008. REUTERS/Rick Wilking

Carmakers fight for market share in crisis

Green technologies hogged the limelight for a second day at the Geneva Motor Show on Wednesday, while crisis-hit carmakers shied away from making sales forecasts but pledged to target market share gains.

A model poses on the Fiat booth during the second media day of the 79th Geneva Car Show at the Palexpo in Geneva March 4, 2009. REUTERS/Denis Balibouse

Several potential bidders for GM's Saab: sources

General Motors' Saab brand has received interest from several potential bidders including China's Geely Automobile and Dongfeng Motor Group , sources with direct knowledge of the sales process said on Tuesday.

A Saab 9-X Convertible Concept car stands behind a curtain at the exhibition stand of General Motors Corp's (GM) Swedish unit Saab during a preview day of the 79th Geneva Car Show at the Palexpo in Geneva in this March 2, 2009 file photo. REUTERS/Arnd Wiegmann

GM Europe seeks €3.3bn state aid

General Motors Europe has warned that it will run out of sufficient money to operate in the second quarter of this year unless governments across Europe provide aid.

GM says U.S. sales for February declined 52.9 percent

U.S. auto sales dropped by more than 41 percent in February to the lowest level in almost three decades as deepening economic uncertainty drove Americans away from big purchases and new debt despite aggressive discounts from major automakers.

People walk through a car lot at a Chrysler dealership in the Chicago suburb of Oak Lawn, March 3, 2009. REUTERS/Frank Polich

Ford February sales plunge 48 percent

Ford reported a 48 percent drop in February sales on Tuesday and outlined sharply lower production targets for the second quarter compared with a year ago in the face of a deep slump in demand.

The debut of the 2010 Ford Taurus SHO is seen during the Chicago Auto Show, February 11, 2009. REUTERS/John Gress

Volvo Cars CEO says Saab woes a worry

The woes of General Motors-owned Saab could spell trouble for Volvo Car Corporation, owned by Ford Motor Co , if component sub-suppliers shared by the two Swedish rivals ran into difficulties.

Chrysler hopeful meets criteria for U.S. loans

Chrysler vice-chairman Jim Press said on Tuesday the auto maker was "hopeful" the automaker had all the criteria necessary to receive additional U.S. government loans.

Chrysler President and Vice Chairman Jim Press speaks at a news conference during the North American International Auto Show in Detroit, Michigan in this January 11, 2009 file photo. Press said on Tuesday the auto maker was

Jaguar workers vote on pay freeze

Workers at Jaguar Land Rover have started voting on whether to bring in a four-day week and take a pay freeze for a year.

Febuary auto sales seen hovering at 27-year lows

Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.

Trucks displaying American flags are lined-up for sale at a local Ford auto dealership in Encinitas, California, February 3, 2009. REUTERS/Mike Blake

VW sees weak 2009 outlook and Porsche profit falls

Volkswagen forecast lower 2009 earnings on Monday as its majority shareholder Porsche reported a fall in first-half operating profit.

A wall clock with a VW emblem is pictured at a production line in the Volkswagen headquarters in Wolfsburg November 14, 2008. REUTERS/Christian Charisius

Canada open to automaker aid after deadline: report

Canada's industry minister said the government is willing to negotiate an aid deal with General Motors Corp and Chrysler LLC past an end-of-March deadline, the National Post newspaper reported on its website.

GM's Opel board to meet over restructuring plan

Management at General Motors Opel subsidiary in Germany will present its supervisory board with a restructuring plan on Friday expected to cost thousands of jobs and possibly one or more plant closures.

An employee of German car manufacturer Opel holds a placard reading

Ford says liquidity adequate amid downturn

Ford Motor Co , which has not sought U.S. government emergency aid, said on Thursday it has adequate liquidity amid worsening industry conditions and has no doubt about its ability to continue as a going concern.

An employee works on the new 2009 Ford F-150 on the assembly line at Ford's Kansas City Assembly Plant in Claycomo, Missouri October 2, 2008. REUTERS/Sam VarnHagen/Ford Motor Co/Handout

GM investors look beyond fourth quarter loss to funding

General Motors Corp saw its fourth-quarter sales drop 26 percent and ended the year desperately short of cash and dependent on a $13.4-billion government lifeline to remain in business.

General Motors Chairman and CEO Rick Wagoner addresses the media during a news conference at GM World Headquarters in Detroit, Michigan February 17, 2009. REUTERS/Rebecca Cook

Bentley to unveil ‘extreme Bentley’ at Geneva show

Bentley will unveil its fastest, most powerful production car ever at next month's Geneva motor show.

Ford CEO to take 30 percent salary cut

Ford Motor Co Chief Executive Alan Mulally has agreed to take a 30 percent salary cut for this year and next, the CEO and executive chairman Bill Ford said in a memo to employees on Tuesday.

Ford Motor Company President and CEO Alan Mulally delivers testimony about a proposed government bailout plan for the US auto industry at a hearing of the House Financial Services Committee on Capitol Hill in Washington, December 5, 2008. REUTERS/Jonathan Ernst

Magna International posts fourth-quarter loss

(Reuters) - Canadian auto-parts maker Magna International reported a quarterly loss on Tuesday, hurt by a slump in global vehicle production and sales.

Frank Stronach, Magna International Inc. Chairman of the Board gestures during his speech at the annual general meeting of shareholders in Toronto, May 1, 2008 REUTERS/ Mike Cassese

Jaguar staff to vote on one-year pay freeze

Staff at Jaguar Land Rover are to vote on a deal aimed at avoiding compulsory job losses for two years in exchange for a one-year pay freeze, increased pension contributions and a four-day week.

UAW and Ford reach deal over retiree health care

Ford Motor Co has reached a tentative deal with the United Auto Workers union on changes to funding for retiree health care in an agreement that could save it almost $7 billion in cash and provide a model for concessions at GM and Chrysler.

Alan Mulally, president and CEO of Ford Motor Company, testifies during a Senate Banking Committee hearing on Capitol Hill, December 4, 2008. REUTERS/Joshua Roberts

GM Canada on right track with plan: Clement

The restructuring proposal put forward by the Canadian arm of General Motors Corp shows the firm is on the right track, Canadian Industry Minister Tony Clement said on Monday.

GM's Europe brands survival dependent on state aid

Ford Motor Co reached a tentative deal with the United Auto Workers that would slash cash payments for its retiree health care, while European governments ruled out rescue plans for General Motors Corp's struggling Opel and Saab units.

Saab and Opel signs are pictured at car dealership in Hamburg February 20,2009. REUTERS/Christian Charisius

LDV needs Mandelson’s million bail-out loan.

As many as 900 jobs could be lost at LDV, the maker of white vans, unless the government provides an emergency bridging loan worth millions of pounds.

Saab seeks creditor protection

The loss-making Swedish carmaker Saab, which is owned by General Motors, has filed reorganisation papers with a district court in south-west Sweden.

Auto supplier profits drop as GM units digest plan

Automotive suppliers reported plunging profits as Saab was reported to be preparing to file for reorganisation, just one of General Motors' European brands digesting the struggling U.S. carmaker's rescue plan.

Detroit 3 health crucial for Japan carmakers: lobby

A healthy U.S. auto industry is vital for a sound U.S. economy and by extension for Japanese carmakers, a Tokyo-based auto lobby said, giving a tacit nod to the latest request for federal aid from ailing rivals in Detroit.

GM and Chrysler seeks nearly $22 billion more in aid

General Motors Corp and Chrysler LLC requested nearly $22 billion in additional U.S. government loans and said they had reached tentative deals with the United Auto Workers union to reduce labor costs.

Toyota freezes UK staff pay in 2009

Toyota is freezing pay and management bonuses at its UK car-making operations in 2009, the company said on Wednesday, as carmakers grapple with a sharp downturn in global demand.

New cars are parked at Toyota's Burnaston plant near Derby, central England February 18, 2009. REUTERS/Darren Staples

GKN to cut a further 560 jobs

Car engineer GKN said on Tuesday it is cutting a further 564 jobs in the UK as part of its restructuring to cope with the impact of the economic downturn.

Chrysler losses lead to disastrous Daimler fourth-quarter

STUTTGART, Daimler stopped short of giving a profit forecast for this year after delivering a disastrous fourth-quarter loss weighed down by significant losses and charges at Chrysler.

GM talks progress, board reviews plan

General Motors and the United Auto Workers union made progress in concession talks and bondholders offered proposals to slash GM's debt on Monday, a day before the automaker must detail a new survival plan.

GM to get $4 billion aide tranche Tuesday

The U.S. government will release $4 billion in additional aid to General Motors Corp on Tuesday as planned, a White House aide said on Monday, ahead of the deadline for the automaker to submit a new survival plan.

GM Europe unions seek spin-off of Opel, Saab

General Motors Corp's European labor leaders called on Monday for a spin-off of the Opel/Vauxhall brand rather than face what they called potentially fatal cost-cutting in Europe by the stricken U.S. carmaker.

A traffic light is seen in front of the headquarters of General Motors' German unit Adam Opel AG in Ruesselsheim near Frankfurt March 4, 2005. REUTERS/Alex Grimm

Obama to set up auto task force

President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a "car czar" with sweeping powers, a senior administration official said on Sunday.

U.S. President Barack Obama talks on his phone as he steps out of his vehicle to visit with a friend in Chicago February 15, 2009. REUTERS/Kevin Lamarque

BMW sheds 850 jobs at Mini plant

Carmaker BMW said Monday, February 16, that 850 jobs will be cut and operating times shortened at its Mini manufacturing plant at Cowley, Oxfordshire in response to the economic downturn.

GM and UAW talks resume as deadline looms

President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a "car czar" with sweeping powers, a senior administration official said on Sunday.

Toyota to cut hours and offer buyouts to U.S. workers

Toyota Motor offered buyouts to some 18,000 U.S. workers and said it would cut pay for executives and blue-collar workers in North America, and an analyst warned it may soon cut working hours in Japan.

Chrysler braces for long auto sales slump

Chrysler's U.S. government-required viability plan would have the automaker viable even if U.S. auto sales stay at current depressed levels for four years, a top executive said on Thursday.

Chrysler Chief Executive Officer Robert Nardelli looks on at the North American International Auto Show in Detroit, Michigan, January 11, 2009. REUTERS/Mark Blinch

Renault net profit plunges and sees worse 2009

French carmaker Renault posted a sharp decline in 2008 net profit and sales on Thursday due to a "financial and economic crisis of massive proportions" and dropped key 2009 targets as it expects the market to get worse.

A Renault car is displayed at a dealership in Biarritz, southwestern France, November 18, 2008. REUTERS/Regis Duvignau

Peugeot and VW reveal car sector gloom

Europe's top two car makers on Wednesday unveiled plummeting sales and an unexpected loss respectively in fresh evidence of the slump ravaging the global auto sector.

State of the U.S. auto industry: bleak

U.S. auto companies face a wall of problems these days as they scramble to meet terms of federal bailouts, cut thousands of jobs and struggle under mountains of debt.

New cars are seen at a parking lot next to a Chrysler plant in Detroit, Michigan in this December 10, 2008 file photo. U.S. auto companies face a wall of problems these days as they scramble to meet terms of federal bailouts, cut thousands of jobs and struggle under mountains of debt. REUTERS/Carlos Barria

Peugeot plunges into the red, to slash stocks

PSA Peugeot Citroen posted a 343 million euro ($444.5 million) 2008 net loss and said it would focus on cutting stocks and minimizing cash burn in 2009, when it expects to make another loss.

Christian Streiff, Chief Executive of French automaker PSA Peugeot Citroen, listens to a speech at the Elysee Palace in Paris, February 9, 2009. REUTERS/Michel Euler/Pool

GM to axe 10,000 salaried jobs and cut execs' pay

General Motors will slash its global salaried work force by about 10,000, or 14 percent, this year and impose pay cuts on most remaining white-collar U.S. workers as it scrambles to reduce costs under a restructuring mandated by its U.S. government bailout.

Twenty-three-year GM employee Bob Pohlman performs an electrical component installation for the last time on a truck at the GM plant in Janesville, Wisconin December 23, 2008. REUTERS/Bill Olmstead/The Janesville Gazette/Pool

CAW and automakers not yet in formal negotiations

The Canadian Auto Workers union said on Tuesday that it has not yet entered into any formal negotiations on reopening collective bargaining agreements with the struggling Detroit-based automakers.

Magna buys European operations of bankrupt Cadence

Canadian auto parts giant Magna International Inc agreed to acquire the European operations of bankrupt U.S.-based rival Cadence Innovation LLC, Magna said on Tuesday.

Car sector "catastrophe" now global: Peugeot head

The auto industry is caught up in a catastrophe that has spread across the globe as even the key emerging markets that manufacturers had banked on for growth have now ground to a halt, a top executive said on Tuesday.

Nissan shares jump 7 percent after restructuring steps

Shares of Nissan Motor Co jumped 7 percent on Tuesday morning, making up for a sharp slide a day earlier before the company forecast its first loss in years and laid out countermeasures to reverse the bleeding.

France pledges loans to Peugeot and Renault

France on Monday pledged 3 billion euro (2.6 billion pound) loans for struggling car makers PSA Peugeot Citroen and Renault, saying the two companies had promised to safeguard French jobs in return.

Nissan to slash jobs after forecasting annual loss

Nissan said it would cut 20,000 jobs and joined a growing list of automakers warning of red ink this year in what would mark its first loss since Chief Executive Carlos Ghosn took the reins a decade ago.

An employee works at a reception desk at a Nissan Motor showroom in Tokyo February 9, 2009. Nissan Motor Co, Japan's No. 3 carmaker posted a big quarterly loss on Monday and warned it would lose money this year, making its first fall into the red since Chief Executive Carlos Ghosn took the reins in 1999. REUTERS/Yuriko Nakao

France pledges loans to Peugeot and Renault

France on Monday pledged 3 billion euro (2.6 billion pounds) loans for struggling car makers PSA Peugeot Citroen and Renault , and said the two companies had promised to safeguard French jobs in return.

GM's product czar Lutz to retire at end of year

General Motors Corp's product chief and Vice Chairman Bob Lutz will retire at the end of the year, bringing to a close a legendary automotive career that spanned 46 years and included top jobs at all three Detroit automakers.

Robert A. Lutz sits in the 2006 production Pontiac Solstice, at the 2004 North American International Auto show January 4, 2004. REUTERS/Gregory Shamus

Nissan forecasts annual loss

Nissan Motor joined a growing list of automakers warning of red ink this year on the global car slump, marking its first loss since Chief Executive Carlos Ghosn took the reins a decade ago.

U.S. weighs new auto industry help, no decision yet

The Obama administration is talking with U.S. auto industry about more help, but no decisions are expected until General Motors Corp and Chrysler LLC submit turnaround plans to the government later this month, a White House official said on Friday.

GM may cut thousands of salaried workers

General Motors Corp. is developing a plan to fire up to 5,000 salaried employees as it tries to cut costs by a March 31 deadline to keep $13.4 billion (8.8 billion pounds) in U.S. government aid, according to a Bloomberg report.

A General Motors employee inspects an SUV on the assembly line at the GM assembly plant in Arlington, Texas November 18, 2008. REUTERS/Jessica Rinaldi

Toyota sees bigger losses as global sales slide

Toyota Motor said it expected its full-year loss would be three times what it had flagged just six weeks ago as the world's biggest automaker struggles to cut production fast enough to match sliding sales.

A Toyota sign is seen at a used-car dealership in Nagoya, central Japan December 24, 2008. REUTERS/Issei Kato

Volvo posts surprise fourth-quarter loss

World number two truck maker Volvo slipped to a surprise operating loss in the fourth quarter as plunging demand savaged order intake and said its key European market was likely to fall further this year.

An Indian mechanic works at the Volvo truck division in Bangalore April 10, 2006. REUTERS/Jagadeesh Nv

Delphi to end salaried retiree health benefits

Troubled auto parts maker Delphi Corp's said its value had deteriorated more than expected in recent months amid a steep slump in the auto sector and it has sought U.S. Bankruptcy Court permission to eliminate health care benefits for 15,000 salaried retirees.

New car sales plunge in January

New car sales in Britain fell by almost a third year-on-year in January to register their worst performance for that month since 1974, industry figures showed on Thursday.

New cars are parked at a dockyard in Grimsby January 30, 2009. British new car registrations fell 30.9 percent on the year in January to 112,087, the Society of Motor Traders and Manufacturers said on Thursday. REUTERS/Nigel Roddis

Magna to shut New York plant, 1,400 jobs to be cut

VANCOUVER, Magna International will close its gear assembly plant in Syracuse, New York, the Canadian auto parts maker said on Wednesday, after workers rejected a contract the company said was necessary to keep the factory competitive.

German carmakers see tough 2009

German carmakers' association VDA on Tuesday said January car registrations plunged and Swedish truckmaker Scania's full year results missed targets in the latest wave of bad news for the crisis-hit auto sector.

Auto sales seen extending slide

U.S. auto sales for January are expected to drop to a 27-year low, extending a 15-month downturn and adding weight to the view that the hard-hit sector will remain a drag on the economy in the current quarter.

Car salesman Ray Schaffer (L) shows a customer a 2009 Chevrolet Impala sedan at a dealership in Dearborn, Michigan December 29, 2008. REUTERS/Rebecca Cook

GM, Chrysler offer workers cash, cars to leave

General Motors Corp and Chrysler LLC on Monday began offering a new round of retirement incentives including vouchers for cars as the automakers move to reduce workers and inventory.

Auto sales seen extending slide

U.S. auto sales for January are expected to drop to a 27-year low, extending a 15-month downturn and adding weight to the view that the hard-hit sector will remain a drag on the economy in the current quarter.

Chrysler offers new buyouts to workers: report

Chrysler LLC has launched a new companywide round of buyout offers and retirement incentives for hourly workers, the Automotive News said on Monday.

A man looks over a modified 2009 Jeep Wrangler Unlimted X in the Pro Chrysler Jeep showroom at the Chrysler dealership in Thornton, Colorado December 22, 2008. REUTERS/Rick Wilking

Europe truck makers face worse 2009

Europe's heavy truck makers are expected to post sharply lower profits after a collapse in demand in the fourth quarter, and they should brace for even worse conditions in the coming year, analysts believe.

Ford may need to access govt aid in late '09: Barclays

(Reuters) - Ford Motor Co may need to access U.S. government aid in late 2009, an analyst at Barclays Capital said on Monday, just days after the automaker said it would have the cash to survive the worst downturn in auto sales in a decade without a state bailout.

Ford French plant bought by German firm: minister

Ford Motor Co's factory in Blanquefort in western France will be acquired by a German industrial group, Economy Minister Christine Lagarde said on Monday, adding that 1,600 jobs at the plant would be saved.

GM gets crucial $5.4 bln in U.S. funding

General Motors Corp said on Wednesday it had received a delayed payment of $5.4 billion under the emergency funding provided by the U.S. government to keep it in business.

General Motors vehicles are seen at a car dealership in Toronto December 12, 2008. REUTERS/Mike Cassese

Toyota Japan output to drop 60 percent in April: report

Toyota Motor expects to produce 6.5 million vehicles globally on a parent company basis this year, down more than 20 percent from an estimated 8.2 million last year, the Chunichi newspaper reported.

Chrysler, Fiat hammering out alliance details

The viability of Chrysler hinges on winning $3 billion of additional government aid and cost savings through concessions by creditors and employees, Chief Executive Bob Nardelli said on Friday.

Chrysler urges dealers to order cars, cut costs

Chrysler LLC on Sunday urged its U.S. dealers to slash costs and order more of its vehicles as the automaker races to restructure in order to secure additional government aid.

Nissan CEO sees global sales falling

Global car makers are likely to see "a consolidation" in the sector as a decline in sales is expected to accelerate in 2009 to around 55 million cars from 63 million sold in 2008, Nissan's CEO said on Sunday.

Toyota considers broad job cuts

Toyota Motor Corp is considering cutting full-time employees in Britain and North America, in an unprecedented step for the world's largest auto maker, a company source familiar with the matter said.

Jaguar Land Rover does not want government bailout

Struggling luxury car maker Jaguar Land Rover said on Thursday it did not want a government bailout, but did want credit flowing again either from direct lending or state-backed loans.

Hyundai fourth quarter net drops as costs rise

Hyundai Motor on Thursday announced a 28 percent drop in fourth quarter net profit, hit by lower investment gains from affiliates, higher marketing and warranty costs, even though sales inched up.

Employees of Hyundai Motor walk past its car I30 CW displayed on a lobby at the company headquarters in Seoul January 2, 2009. REUTERS/Jo Yong-Hak

GM gets crucial $5.4 billion in U.S. funding

General Motors Corp said on Wednesday it had received a delayed payment of $5.4 billion (4 billion pounds) under the emergency funding provided by the U.S. government to keep it in business.

GM and Chrysler seen near loan deal

President George W. Bush bailed out U.S. carmakers on Friday with $17.4 billion (11.6 billion pounds) in emergency loans as he sought to stave off a collapse that would have cost hundreds of thousands of jobs.

U.S. President George W. Bush comments on the automaker's industry in the Roosevelt Room at the White House in Washington, December 19, 2008. REUTERS/Jim Young

Fiat confirms Chrysler talks

Italy's Fiat unveiled a deal to take a 35 percent stake in struggling automaker Chrysler LLC as France weighed plans for an emergency aid package for its own battered auto industry and Toyota named Toyoda family scion to lead the company.

GM expects next tranche of U.S. funding in days

General Motors Corp Chief Operating Officer Fritz Henderson said the automaker expected to receive a delayed U.S. government loan payment in the next several days that it needs to avoid running out of cash.

General Motors Corp.'s world headquarters is seen along the Detroit River in Detroit, Michigan November, 18, 2008. REUTERS/Rebecca Cook

BMW looking into applying for state aid: paper

Germany's BMW , the world's largest premium car maker, is looking into applying for state guarantees to back up its borrowings, the Bild Zeitung newspaper reported on Tuesday.

Daimler still seeking to sell Chrysler stake

Daimler AG still wants to sell its nearly 20 percent stake in U.S. carmaker Chrysler, a spokesman for the German group said on Tuesday amid speculation Fiat would join forces with Chrysler.

Toyota to tap new president amid sales slump

Toyota Motor Corp named Akio Toyoda, grandson of the company's founder, to head the company and lead it through the global crisis that has slashed demand for cars worldwide.

U.S. to lend $1.5 billion to Chrysler Financial

The U.S. Treasury on Friday agreed to lend Chrysler LLC's finance arm $1.5 billion for five years to fund new car loans and boost sales for the sputtering Detroit automaker.

Honda to halt production at Swindon plant

Japanese car maker Honda said on Friday it would halt production at its plant in Swindon in April and May as the lower demand for cars in the global downturn shows no signs of recovery.

A Honda sign is seen outside a dealership in Ottershaw January 16 2009. REUTERS/Kieran Doherty

GM lowers auto sales outlook, sees risks

General Motors expects U.S. auto sales in 2009 to drop to their lowest level in 27 years, cutting its forecast to the low end of prevailing expectations and making it all but certain the automaker will post a fifth straight year of losses.

General Motors CEO Rick Wagoner stands next to a Chevrolet Volt as he addresses the media during press days of the North American International Auto Show in Detroit, Michigan January 12, 2009. REUTERS/Rebecca Cook

Toyota cuts North American production

Toyota Motor Corp, the world's largest car maker, said it would cut production at several North American plants over the next few months in a bid to halve its inventory of vehicles.

Nissan to post annual operating loss

Nissan , Japan's third-largest automaker, will post an annual operating loss instead of a previously forecast profit, hurt by sliding sales and a soaring yen, a company source said on Thursday.

Jaguar Land Rover to cut 450 jobs

Luxury car maker Jaguar Land Rover announced 450 job losses Wednesday because of a "severe" fall in demand and renewed demands for government help to weather the economic downturn.

New Land Rover Freelander cars stand outside the Halewood Jaguar and Land Rover factory in Liverpool, October 27, 2008. REUTERS/Phil Noble

Chrysler rules out sale of individual brands

Chrysler LLC Vice Chairman Tom LaSorda said on Wednesday that the No. 3 U.S. automaker would not sell an individual brand like Jeep, but would pursue deals to sell off tooling for models going out of production, or even licensing production of current models.

German carmakers set for U.S. push in 2009

German carmakers broke ranks with the industry's subdued tone at the world's biggest auto show and said 2009 holds modest growth opportunities.

The Volkswagen Bluesport Roadster concept car is introduced during the North American International Auto Show in Detroit, Michigan January 11, 2009. REUTERS/Mark Blinch

Chrysler in unit sale talks; Renault denies

Struggling U.S. automaker Chrysler is in talks to sell assets to Renault-Nissan and parts supplier Magna, sources with knowledge of the discussions have told Reuters, though the French automaker Wednesday denied such talks were under way.

A row of new Chrysler Jeep Commander SUVs are seen at a dealership in Silver Spring, Maryland, July 1, 2008. REUTERS/Yuri Gripas

Too little and too late for "green" Big 3?

Carmakers at the world's premier auto show have pinned their hopes on "green" models but for some companies the immediate future is shaping up as a battle for survival.

Push to sell Volvo, Saab units moves ahead

Under pressure to raise cash in the face of slumping sales, U.S. automakers General Motors Corp and Ford Motor Co on Sunday said they were pushing ahead with attempts to sell Swedish brands Saab and Volvo.

Volvo Car Corp. President & CEO Stephen Odell introduces the S60 concept vehicle during the North American International Auto Show in Detroit January 11, 2009. REUTERS/Rebecca Cook

GM says will review need for further U.S. loans

General Motors Corp Chief Executive Rick Wagoner said the struggling automaker had enough funding to last through March but could still seek additional U.S. government loans beyond the $13.4 billion it has already been pledged.

General Motors Vice Chairman Bob Lutz introduces GM's new Converj concept vehicle during press days at the North American International Auto Show in Detroit, Michigan, January 11, 2009. REUTERS/Rebecca Cook

Carmakers put on brave face despite bleak sales outlook

Automakers put on a brave face at the world's biggest auto show on Sunday, with the sales outlook bleak for the coming year and fabled firms struggling for survival despite massive government aid.

People walk by the Volkswagen display during the North American International Auto Show in Detroit, Michigan January 11, 2009. REUTERS/Mark Blinch

Toyota shock hits Japan's auto region

NAGOYA, Toyota shock has hit Japan's car manufacturing district, leaving factories and small businesses reeling as orders dry up due to a global recession that has put the brakes on car sales worldwide.

A passer-by walks in front of a showroom of Toyota Motor Corp's Lexus vehicles in Nagoya, central Japan December 25, 2008. Toyota shock has hit Japan's car manufacturing district, leaving factories and small businesses reeling as orders dry up due to a global recession that has put the brakes on car sales worldwide. REUTERS/Issei Kato

Renault clings to market share as sales drop

French carmaker Renault on Friday posted a 4.2 percent drop in 2008 sales in a world market that fell 4.8 percent as the global financial and economic crisis hit vehicle sales.

Nissan to cut 1,200 jobs at Sunderland plant

Japanese car maker Nissan is cutting 1,200 jobs at its Sunderland plant in response to a dramatic decline in demand that has seen sales fall upwards of 20 percent in recent months.

Aerial view of new Nissan cars parked outside the company's Sunderland plant in this December 18, 2008 file photo. REUTERS/Nigel Roddis/Files

GM CEO "confident" of winning UAW concessions

General Motors Corp Chief Executive Rick Wagoner said on Thursday he was confident the automaker will win the concessions it needs from the United Auto Workers union to meet the restructuring terms dictated by the $13.4 billion federal bailout.

General Motors Chairman and Chief Executive Rick Wagoner addresses the media during a news conference at GM world headquarters in Detroit, Michigan December 19, 2008. Wagoner said on Thursday he was confident the automaker will win the concessions it needs from the United Auto Workers union to meet the restructuring terms dictated by the $13.4 billion federal bailout. REUTERS/Rebecca Cook

GM says government loans cover worst scenario: report

(Reuters) - General Motors Corp has adequate government loans pledged to cover the worst-case scenario it outlined in December to Congress and will not need more unless the economy worsens, a Bloomberg report said.

A customer looks at a 2009 Chevrolet Impala sedan at a dealership in Dearborn, Michigan, December 29, 2008. REUTERS/Rebecca Cook

Kuwait's Dar mulls Saudi Aston Martin deal

Kuwait's Investment Dar, the country's biggest Islamic investment firm, is in talks with a Saudi investor to sell up to 10 percent in luxury car maker Aston Martin, a newspaper said on Tuesday.

Toyota to halt output for 11 days as sales slump

Toyota Motor Corp is to halt production at its Japanese plants for 11 days in February and March as a sharp slide in U.S. sales has left dealers' lots full of unsold cars.

A visitor looks at Toyota Motor Corp's Lexus vehicles at a showroom in Tokyo, January 6, 2009. REUTERS/Yuriko Nakao

Volkswagen shares gain as Porsche gets majority

Shares in Volkswagen traded higher on Tuesday, pacing European auto stocks, following news late on Monday that Porsche SE raised its voting stake in the world's third-largest carmaker to a majority.

A sales woman is reflected on a Porsche car in a showroom in Almaty November 19, 2008. REUTERS/Shamil Zhumatov

Ford December U.S. sales down 32.4 percent

U.S. auto sales plunged by 36 percent in December led by outsized declines at Chrysler LLC, Hyundai Motor and Toyota Motor Corp as the battered industry closed out its weakest year since 1992 in its largest single market.

Major automakers reported U.S. sales in December that plunged by more than a third, closing out the weakest year for the battered industry in over a decade and a half in its largest single market. REUTERS/Graphics

Chrysler says gets $4 billion govt loan

Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp.

A Chrysler sign is seen on the front of the Chrysler headquarters in Auburn Hills, Michigan in this August 4, 2007 file photo. The company on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp. REUTERS/Rebecca Cook

Ford sees sharp drop in U.S. sales

DEARBORN, Ford Motor Co expects industry-wide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of this year.

Chrysler says expects U.S. Treasury funds in near future

The U.S. government on Wednesday paid out the first $4 billion (2.76 billion pounds) in emergency loans to support General Motors Corp but a parallel rescue payment for Chrysler LLC was on hold until the new year.

Pro Chrysler Jeep staff members are reflected in a sign at the Chrysler dealership during a meeting in Thornton, Colorado in this file photo from December 22, 2008.REUTERS/Rick Wilking

GM and GMAC ease lending rules to entice car buyers

General Motors Corp and its GMAC funding affiliate launched programs on Tuesday to lure U.S. car and truck buyers back into showrooms, as the nation's largest automaker tries to revive its sagging fortunes.

A General Motors vehicle is seen at a car dealership in Toronto December 12, 2008. REUTERS/Mike Cassese

U.S. auto industry seen as most distressed in 2009

The auto sector is expected to be the most financially troubled industry in the United States next year, taking the top spot from the homebuilding group, according to a survey of restructuring and bankruptcy professionals released on Monday.

Auto mechanic Paul Cook works on a customer's Ford Escape SUV in the service department of a Ford car dealership in Warren, Michigan, December 18, 2008. REUTERS/Rebecca Cook

Kerkorian sells off Ford shares at deep loss

Billionaire investor Kirk Kerkorian has sold off all of his remaining shares of Ford Motor Co , completing a retreat from a high-profile stake in the No. 2 U.S. automaker that cost him hundreds of millions of dollars.

Workers secure a Ford sign onto a truck after it was removed from Al Long Ford auto dealership in Warren, Michigan in this recent photo from December 23, 2008. The dealership, founded 63 years ago, has sold its license back to Ford Motor and will reopen on the same site as a used car business under a new name. REUTERS/Rebecca Cook

GM shares jump after GMAC won bank holding status

Shares of General Motors Corp jumped on Friday after its auto finance affiliate GMAC won access to government lending programs, while analysts estimated GMAC might be seeking loans of more than $6 billion.

GM sues bankrupt supplier Cadence over parts

General Motors Corp has filed a lawsuit against a bankrupt auto-parts supplier, saying it is holding necessary equipment "hostage" which could potentially interrupt the launch of its new Chevrolet Camaro car.

A model sits in a Chevrolet Camaro at the Middle East International Motor Show in Dubai, during the press preview, November 13, 2007. REUTERS/Steve Crisp

Toyota recalls more than 120,000 cars in China

Toyota is recalling 121,930 cars in China to fix a problem that could result in loss of steering control.

More than 1,000 units of new Daihatsu and Toyota cars are waiting to be uploaded onto the ship at the Tanjung Priok car port in Jakarta to be exported to Africa and Thailand November 21, 2008. REUTERS/Supri

Toyota may cut outlook to group operating loss

NAGOYA, Toyota forecast a first-ever annual operating loss, blaming a relentless sales slide and a crippling rise in the yen in what it said was an emergency unprecedented in its 70-year history.

A man walks into a Toyota dealership in Arlington, Virginia December 22, 2008. Toyota, the world's largest car maker, on Monday cut its global auto sales forecast by 8.5 percent for the year ending March 2009 amid a worldwide economic downturn. REUTERS/Kevin Lamarque

Tata to inject "tens of millions" into Jaguar

India's Tata Motors has agreed to inject "tens of millions" of pounds into Jaguar Land Rover to prevent an immediate cash flow crisis, the Financial Times reported on Monday.

A Union flag flies behind a Jaguar car emblem outside a dealership in Manchester, March 25, 2008. REUTERS/Phil Noble

Australia General Motors unit to build small car

The Australian arm of General Motors said on Monday it would build the first fuel-efficient small car in decades after securing government funding and as GM moves onto taxpayer-backed life-support in the United States. As sales of large-engine family cars traditionally favoured by Australians slide amid tough financial conditions and global warming fears, GM's Holden said it would build a small f

Hyundai Motor cuts hours further on weak sales

South Korea's Hyundai unveiled on Monday additional measures to cut output and save costs, including shorter working hours at a plant that manufactures its core Sonata and Grandeur sedan models.