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CEO Frank Stronach said it was vital that Magna be involved in a possible sale of Chrysler to protect itself and help its biggest customer, the Globe and Mail reported.
Fast cars, smart cars and politically correct cars are all on display at one of the Europe's top auto shows.
The 77th International Auto Show in Geneva, Switzerland this year will no doubt be remembered by the presence of automakers exhibiting alternative powered technology.
Volkswagen, Europe's largest automaker, said Friday its fourth-quarter profit nearly tripled on strong vehicle sales.
Cult cars emerge regardless of marketing efforts and BMW's MINI is on the verge of joining the Ford Mustang and a select group of other autos that captured the imagination of car lovers.
Here some of Wednesday's big movers on European stock markets: Alliance Boots, WM Morrison, Sainsbury, Tesco, Volkswagen, EADS, Xstrata and Deutsche Postbank.
Germany's BMW, the world's largest premium carmaker, said on Thursday its 2006 pre-tax profit rose by a quarter to a record 4.124 billion euros ($5.4 billion) on buoyant demand for its top selling 3-Series sedan.
While representatives from two private equity firms meet with Chrysler executives outside Detroit this week, there will be plenty of speculation about what it would take for them to bid on the American automaker.
Since the days of Barney Rubble, the wheel has been one of the basic indicators of global progress, and that's still true today. From 18-wheelers to hybrid vehicles, demand for tires is surging because of a healthy global economy. For some investors, the tire industry has been the proverbial road to riches. Should you be following along or is it time to wave the checkered flag on this trade
Right now, the best move for investors is to find stocks that made it through the sell-off without a scratch. Luckily, Cramer’s here to help.
Here some of Wednesday's big movers on European stock markets: Telekom Austria, Scania, Resolution, MAN, Iberia, Endesa, Vallourec, Lloyds TSB, RBS and ITV.
If you've seen as many auto show's as I have, you rarely are impressed by the new models, displays, and "shows" put on by the automakers. Well, Geneva has changed that.
Volkswagen said Wednesday it has increased its holdings in Swedish truckmaker Scania to more than 35% of the voting rights, in an attempt to pave the way for a friendly alliance with German rival MAN.
DaimlerChrysler will not auction off loss-making U.S. division Chrysler and could decide to keep the business at the end of a strategic review, Chief Executive Dieter Zetsche told a German paper.
The chief executive of DaimlerChrysler, Dieter Zetsche, said it would be difficult to break up Chrysler, as analysts and other experts have speculated recently, due to an integrated production system that binds together its various brands, The New York Times said.
Ted from Connecticut asked: “With the China markets and other emerging markets cooling off, both PetroChina and Petroleo Brasiliero - China and Brazil's largest oil companies are off their 52 week highs. Do they look like a good buy or will they go even lower?”
DaimlerChrysler Chief Executive Dieter Zetsche said last month's announcement that all options are on the table for Chrysler has hurt the U.S. car maker's sales, CNBC's Phil LeBeau reported. "Yes, we have seen an impact," Zetsche told LeBeau in a 30-minute interview at the Geneva Motor Show.
General Motors CEO Rick Wagoner told CNBC's "Worldwide Exchange" he predicts robust global sales growth in 2007, crediting the positive outlook to a strong product pipeline and solid performance in the emerging markets.
When I walked in with other reporters here at the Geneva Auto Show to talk on the record with Dieter Zetsche, I expected few details on the potential sale of Chrysler. Dr. Z. Did not disappoint. He won't say if there is a timeline for wrapping up the auction process or reveal any of the parties doing serious work studying Chrysler.
DaimlerChrysler said on Tuesday its Mercedes Car Group premium division sold 2.1% fewer vehicles worldwide in February than in the same month a year earlier.