BERLIN— German Chancellor Angela Merkel has called Volkswagen's emissions-rigging scandal a "far-reaching event" and demanded the world's largest automaker quickly investigate it. The extent of the fallout from the scandal, which erupted Sept. 18 when the U.S. Environmental Protection Agency said VW had cheated on tests of its diesel cars, remains unclear as...» Read More
Governments around the world tried to contain the fast-spreading credit crisis, but stock, bond and commodity markets saw investors bet on a sharp downturn.
As the Wall Street crisis unfolds, insurance policy holders might be asking themselves if the premiums they are paying for their coverage are going to do what are supposed to do: protect them from risk.
Could this finally be the big breakthrough diesel fans have been clamoring for? Could this be the start of Americans getting over their lack of interest for diesel cars? Audi certainly hopes so. Audi is on a cross country publicity push spreading the word about clean diesel.
This is for all of you who e-mail and call me "Toyota Phil" and for those of you who think I favor the Japanese automaker and never write anything critical.
Carmen reveals the silver lining in this economic mess. Are you ready to take advantage?
Over the last two weeks I've done several reports on TV and written in this blog about tighter credit hurting auto sales. For the industry, September sales dropped 27% and nearly everyone in the industry admits that a big reason for the plunge has been the deteriorating credit markets.
How bad is the auto business right now? Every automaker is feeling the pain, not just the Detroit 3. In the last week, showroom traffic (people simply visiting a dealership) is down 50% compared to the same time last year.
Whether or not you agree with Congress voting down the $700 billion bailout, one thing is clear, this is bad news for automakers and auto dealers.
Shares of Chinese battery maker and 'green' car maker BYB Company Limited soared 42 percent today in Hong Kong trading, after this weekend's announcement that Warren Buffett is investing in the company.
Call it the Prius Principle. Toyota's Prius was not the first hybrid, nor, you could argue, was it the best gas-electric car in terms of performance. Still, ask 90% of America about hybrids and Prius is the first thing they mention.
A subsidiary of Warren Buffett's Berkshire Hathaway is making a $230 million investment in a Chinese battery company that's developing environmentally-friendly cars to be sold around the world. In a news release, Berkshire's MidAmerican Energy Holdings says it has agreed to buy a 10 percent stake in BYD Company Limited, which trades on Hong Kong's stock exchange.
General Motors Chief Executive Rick Wagoner on Thursday said September U.S. auto sales were running about flat from August as tight credit markets crimp demand.
By the end of this weekend, lawmakers in Washington are expected to approve $25 Billion in low interest federal loans.
Chrysler CEO Bob Nardelli says tighter consumer credit is making it tougher to sell a car. Now the industry as a whole wants the federal government to take bad auto loans off the hands of auto finance companies.
Ladies and gentleman, there's a new team entering the great race in the auto industry to build the first mass market electric vehicle: It's Chrysler.
Over the last six months as I've filed numerous stories about the Chevy Volt, Nissan's plan to build an electric car, and Ford's focus on increasing fuel efficiency, I have heard the same thing from you: That's great, but what's Toyota doing?
You know what I've heard a lot this week? Auto sales will stay weak through 2010. This has me wondering where the buyer has gone, and why some are convinced the buyer won't come around anytime soon.
I admit e-mail responses from bloggers and readers is not a scientific sampling. I admit these answers may only represent a small portion of the public.
Long before General Motors unveiled its new electric car, the Chevy Volt, there was a buzz around GM that this car should be a winner. That's right, I used the words: should be. Predicting any car will be a hit is often a fool's game.
Today marks the last day of General Motors first 100 years. While the company will mark the occasion tomorrow by unveiling it's new electric car, the Chevy Volt, I have a much more sobering question: