WOLFSBURG, Germany, June 3- Volkswagen needs to come up with a new structure before thinking about appointing a permanent chairman, the powerful labour chief at Europe's biggest carmaker said in an interview. For the first time in more than two decades, Volkswagen no longer has Ferdinand Piech at the helm, a corporate scion who controlled the balance of power...» Read More
After a few days of tracking the latest talks between GM and Chrysler, I'm more convinced than ever before that these two companies will not merge. It's an idea that ultimately creates more headaches than solutions for GM.
Before General Motors began exploring a possible merger with Chrysler — talks that first came to light on Friday — G.M. proposed a similar deal with its other cross-town rival, the Ford Motor Company, two people with knowledge of the talks said Saturday.
If you think GM is just a short drive from steering into bankruptcy, think again. This morning, while everyone says this company is on the verge of collapsing, a GM spokeswoman emphatically said "NO!"
Ford Motor is not considering bankruptcy protection as an option, CNBC reported Friday, citing company executives. The unidentified Ford executives said bankruptcy is not even under discussion, and that the company has sufficient liquidity.
General Motors' shares hit their lowest level in almost 60 years as the U.S. automaker said its year-to-date sales in Europe slid almost 2 percent.
If you are GM CEO Rick Wagoner, what do you do? The man in the top job at the struggling automaker is pulling every move possible to keep his company from collapsing. And by all accounts, he's done a hell of a job.
Want a sign of just how screwed up this economy has become? Auto repo companies are finding business has slowed down because banks and lenders are reluctant to take back cars and trucks people can no longer pay for.
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These are gut check times for Ford & GM investors. Shares of the two automakers slid to lows not seen since the early 80's for Ford and mid 50's for GM. As one Wall Street veteran told me, "These are dire times for Ford & GM."
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.