BERLIN, Oct 4- The head of the European Parliament told a group of German regional newspapers that the emissions scandal at Volkswagen would hit the German economy hard but Europe's biggest carmaker was likely to survive the crisis. Germany's finance and economy ministers have played down the risk of a broader economic danger for Germany from the scandal.» Read More
European car sales zoomed ahead in July and August after slow sales most of the year in major car-buying nations, netting strong results for BMW, DaimlerChrysler, Fiat and General Motors.
Shares of General Motors jumped in early trading Thursday, after a Citi Investment Research analyst lifted his rating on the automaker, citing possible outcomes from labor negotiations.
Occasionally I will hear from those of you who have read my blog and what you write has me wondering, "Are they right?" The latest example follows what I wrote about driving a Lamborghini in Italy at 150 MPH. Upon reading that, I got this e-mail from John in Florida...
In a bid to add more prestige to what it already has, the Italian maker of super luxury sports car unveiled the Reventon at Frankfurt's international autoshow, a very limited editioncar that looks more like an arrow than anything on four wheels.
How's this for exclusive? Lamborghini unveils its newest model today in Frankfurt, Germany with a pricetag of $1.38 million. And here's the best part: Lamborghini has already sold out ALL 20 of its new million dollar ride.
CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and VW's plans to become the world's biggest carmaker.
Volkswagen may take a 20% stake inloss-making Malaysian carmaker Proton and will make a final decision no soonerthan a supervisory board meeting in February, Wolfsburger Allgemeine Zeitungreported, citing company sources.
The Frankfurt Auto Show kicked off today and as expected, the automakers are all talking about cars that are more fuel efficient, more environmentally friendly, and more viable than the first attempts at building electric or low emission cars.
I attended a meeting of about twenty-five hedge fund traders last night. These informal gatherings are fairly common on the Street; they're often sponsored by sell-side trading houses. Usually, it's a discussion on long and short positions of the various traders.
The top executive at General Motors said on Tuesday that the automaker was watching the downturn in the U.S. housing market closely and blamed the softness there for weakness in vehicle sales.
The U.S. subprime crisis had little impact on the top line of luxury automaker BMW, the company's CEO said Tuesday, but expectations of stricter emission standards are pushing the company to produce more environmentally-friendly cars.
CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and marvels at Porsche's decision to make a hybrid SUV.
General Motors in its contract negotiations with the United Auto Workers union has proposed one option that excludes establishing a union-run healthcare trust but calls for deeper cuts in several areas, the Wall Street Journal reported in its online edition.
The world's automakers will make new efforts to win customers over with more environmentally friendly cars at the Frankfurt Auto Show this week as they tout new vehicles with hybrid propulsion and more advanced, cleaner engines.
Like George Steinbrenner stocking his New York Yankees with All-stars, Cerberus Capital is loading Chrysler with big-time execs. The latest addition is Phil Murtaugh, who will run Chrysler's operation and expansion in China and India. In the last ten years, Murtaugh has carved out a reputation as the American who knows China and how to grow auto sales in that country.
Motorcycle manufacturer Harley-Davidson said Friday that 2007 earnings would come in 4 percent to 6 percent lower than last year because of tough times for U.S. consumers, sending its shares down 7 percent.
I'm always amazed at the number of times someone will send me an e-mail or stop me when I'm out on a story and tell me something that they swear is the absolute truth. My favorite response: The Big 3 have no fresh ideas. Anyone who thinks that should check out the new Ford's with Sync coming out later this year.
Luxury automakers BMW, Audi and Mercedes reported healthy sales increases for August on Friday, with demand from Asia and the U.S. driving gains but with mixed results in their home markets.
Toyota's top North American executive is defecting to Chrysler, a move that stunned the auto industry and gives a highly regarded leader and consummate salesman the chance to turn things around at the struggling U.S. automaker.
In the auto world, it's hard to say one executive can turn around a company. But there are certain people who are "game-changers". The type of executive with a great track record who could steer a company in the right direction. Jim Press, the former president of Toyota North America is one of those executives.