German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi, with around 35,000 of the affected vehicles from China.» Read More
The European Court of Justice ruled illegal on Tuesday a German law that shields car maker Volkswagen from foreign takeovers.
BMW, the world's largest premium carmaker, aims to sell significantly more than 2 million vehicles a year by the end of the next decade and earn up to a 10% return on sales before interest and tax at its core automotive division by 2012.
DaimlerChrysler said Tuesday that a program launched in 2005 to restore the luster of the company's Mercedes Car Group has worked so well that it's being ended ahead of schedule.
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.
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.
CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and marvels at Porsche's decision to make a hybrid SUV.
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.
U.S. computer company Apple and German automaker Volkswagen are discussing the possibility of building an "iCar" that would feature products by the producer of the ubiquitous iPod personal music player.
Call this the tale of two brands going in opposite directions. One knows its core market and continues to roll out hot models that win over fans. The other is drifting with sales slumping and serious questions mounting about its future. When I look at the July sales, I'm struck by the numbers at Buick. How bad was it? Sales dropped 29 % and every single model was down at least 17%. Think that's bad?
Truckmaker MAN said Tuesday that improved demand in eastern Europe for its trucks along with lower costs helped its second-quarter earnings more than double as it confirmed its outlook for the rest of 2007.
Luxury car maker Audi, a unit of Volkswagen, said Monday that sales and profit soared during the January-June period, putting it on track to a 12th consecutive year of record results.
German sports car maker Porsche is not currently considering raising its 31 percent stake in Volkswagen once a law capping voting rights is repealed, a German newspaper reported on Sunday.
Volkswagen, the world's fourth largest carmaker, will meet its 2008 pretax profit target of 5.1 billion euros ($7 billion) a year earlier than planned, the company said on Friday.
German car parts maker Continental and Blackstone Group with its TRW Automotive Holdings are set to submit bids for VDO, the automotive unit of Siemens, people familiar with the situation said on Wednesday.
General Motors plans to offer diesel-engine cars under the Cadillac and Saturn brands in the United States by 2010, industry journal Automotive News reported, citing a source familiar with the plan.
European auto manufacturers will struggle to maintain credit ratings in a very difficult environment despite expected long-term global growth in demand, Moody's Investors Service said in a report. Over-capacity is just one of several challenges the Original Equipment Manufacturers are facing, the agency added.
Volkswagen, Europe's biggest automaker by sales, said Thursday that deliveries of new cars in the first five months of 2007 were up 7.6% from last year, with 2.5 million sold amid rising demand in Europe and Asia.
Shares of France's Atos Origin recovered from an early decline of 1.1% Wednesday, as the company named executive board member Philippe Germond to succeed Bernard Bourigeaud as the new chief executive officer.
Cerberus Capital Management, which agreed to buy a majority stake in Chrysler for $7.4 billion, has been loading up on auto assets and industry experts recently but still faces major challenges in turning the struggling auto maker around, CNBC's Melissa Lee reports.
Here's our re-cap of the day. Remember, the two week finals begin this Monday for both the Million Dollar Portfolio Challenge and Second Chance Showdown (open to all non-portfolio challenge finalists who have opted-in). All players in both contests start Monday with a fresh portfolio of $1,000,000 CNBC Bucks--and each player has only one portfolio. There are no more trivia questions for Bonus Bucks--today's the last day for them. And if you think you will be weekly winner #10, check your email--starting tonight--to see if we've contacted you and you qualify as the winner. That way you can start trading on Monday with the rest of the finalists.