The auto industry cannot avoid being affected by the global financial crisis. After the collapse of a slew of financial institutions, job cuts and production stoppages have become a major theme for western car makers over the past few weeks.
Tags: Auto, auto-parts, automaker, car-maker, Chrysler, Ford, General-Motors, vehicle
China is expected to add 33 million vehicles to its roadways between 2008 and 2010, according to report released Oct. 13 by market research database Companies and Markets. The report, entitled “China Automobile Sector to 2010,” notes that the country’s growing economy has led way to consumer base with an increasing disposable income, changing lifestyle [...]
Chinese automakers Chery Automobile Co and SAIC Motor said on Monday they have not had talks about possible access to Chrysler’s U.S. dealership network with Cerberus Capital Management LP, majority owner of the troubled U.S. car maker.
While exploring opportunities to merge Chrysler’s loss-making operations with General Motors Corp, Cerberus also had talks with a number [...]
Volkswagen Group China, the biggest overseas carmaker in the country, posted a 4.2 percent decline in third-quarter sales as the Beijing Olympics and a stock market slump deterred drivers from buying new automobiles.
The automaker sold 241,171 vehicles in the July-September period compared with 251,852 a year earlier. Bloomberg News derived the number by subtracting first-half [...]
SAIC Motor Corp yesterday opened a 150,000-unit production facility in Shanghai as part of an effort to lead China’s self-branded vehicle market.
The 1.2 million-square-meter factory is located in Lingang Industrial Zone, 75 kilometers south of downtown Shanghai, and cost 2.9 billion yuan (US$424.2 million), said Chen Zhixin, executive vice president of SAIC Motor. The first [...]
In 2010, General Motors‘ green energy cars will debut at the Shanghai World Expo. So, the company is busy making breakthrough, with great confidence in the future, said GM president and CEO Rick Wagoner recently.
During his China tour this week, Wagoner disclosed that General Motors will display new energy technologies at the Expo, and make [...]
