DETROIT, Aug 27- General Motors Co and the United Auto Workers on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.» Read More
General Motors trailed Japanese rival Toyota Motor in global vehicle sales decisively through the second quarter and first half of the year, hurt by a large decline in North America.
The nation's power grid is sorely in need of being updated. In many areas it's pushed to the limit, especially during high use times like the summer months. Remember a few years ago when there were rolling brownouts in California?
Second-quarter operating profit at Volkswagen rose, the world's fourth-largest carmaker said on Wednesday, easily beating market expectations.
Europe's second-biggest car marker PSA Peugeot Citroen on Wednesday maintained its operating profit margin target for 2008 as first-half earnings rose more than expected on the back of cost cuts.
Toyota Motor may cut its 2008 global vehicle sales target by as much as 350,000 units to about 9.5 million because of declining sales in the United States, Japan and Europe, according to news reports.
Maruti Suzuki India, the country's top automaker, reported a smaller-than expected 7 percent fall in quarterly profit, as high costs of raw materials and a new depreciation policy outweighed higher sales.
It may be the number one question I get from people when they ask about the struggling U.S. automakers: Who would want these guys if they ever go belly up or get sold?
First, as oil has dropped like a rock, a lot of money has shifted, at least temporarily from commodities to stocks. Money that had to go someplace, and GM shares were a perfect buy. This stock, in my opinion, was way oversold when it dropped under $9 a share.
Over the last two months, I've heard one comment over and over about the dire straits Detroit's Big 3 find themselves in right now: Just go bankrupt and wipe the slate clean. This is one of those ideas that on paper makes sense on some level.
As if rising gasoline prices weren't enough, motorists are being hit by higher parking charges, with London coming up tops as the world's most expensive city to park your car, according to a survey.
Delta Air Lines and AMR both swung to a hefty losses, but their shares took off as the results beat diminished forecasts.
Amidst all the talk about GM coming up with $15 Billion dollars to increase liquidity there was an important announcement about new models coming from the struggling automaker. Seven new ones that will be key to fueling GM's recovery.
The European car market suffered another month of heavy declines in June and its fourth drop overall this year as rapidly deteriorating economic conditions kept new car buyers from leaving the house.
Tires-to-brakes maker Continental rejected a surprise 11.2 billion euro ($17.8 billion) bid from Schaeffler Group on Wednesday, saying only the family-owned firm would benefit and that its offer was too low.
Toyota Motor will cut its global sales target for calendar 2008 by 3.6% to 9.5 million vehicles to reflect a sharp slowdown in the United States, Japanese national broadcaster NHK said on Wednesday.
General Motors said Tuesday it would cut salaried employment costs by 20 percent, sell up to $4 billion of assets and borrow at least $2 billion in a bid to bolster its liquidity by $15 billion through 2009.
European stocks dropped 1.9 percent on Tuesday, knocked lower by growing fears over the fate of the financial services sector, but a steep fall in oil prices helped the market end above the session's lows.
For the second time in five weeks, General Motors is making major cuts to give its business the breathing room it needs to hopefully turn things around. Unlike the last restructuring, five weeks ago, where GM cut truck plants and put HUMMER up for sale, these latest moves are about saving cash as soon as possible.
The world's number one bearings maker, Swedish SKF, is speeding up plans to close down a factory in Kentucky, moving production to Mexico as the financial markets turmoil has hit hard the automotive industry, SKF CFO Tore Bertilsson told CNBC.com on Tuesday.
General Motors Chief Executive Rick Wagoner is set to announce further steps on Tuesday morning to cut costs in the face of slumping sales.