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BMW Names Eichiner Finance ChiefGermany's BMW, the world's largest premium carmaker, named Friedrich Eichiner chief financial officer on Tuesday after previous CFO Michael Ganal was absent for months due to illness. The new CFO will have to steer the company's finances through the worst economic crisis in almost 80 years and plunging demand for automobiles throughout the world. |
UAW May Reopen Pacts: It's a Way to Make Case for Bailout LoansUAW President Ron Gettelfinger signaled Sunday that the union is willing to reopen its contracts with the Detroit Three as a way to help the domestic automakers win support for federal loans as long as the companies and its executives also make sacrifices. |
GM's Bonds Fall Ahead of Expected Restructuring PlanGeneral Motors Corp's bonds fell nearly 12 percent early on Monday as investors awaited a new turnaround plan from the automaker aimed at winning support for emergency government funding. |
Volvo Cars Waiting for Outcome of Ford Review of Possible SaleCash-strapped U.S. car giant Ford said Monday it was considering "the possible sale" of Swedish automaker Volvo. Ford cited the "significant decline in the global auto industry," as reasons for its moves. |
Ford Has Edge Over Rivals if Gov't Refuses Bailout LoansLast week's hearings on Capital Hill lumped Detroit's automakers together as desperate enterprises so troubled that they must submit business plans to Congress to prove they are worth saving with emergency loans. But ever so subtly, Ford Motor Co. is separating itself from its crosstown rivals, General Motors Corp. and Chrysler LLC. |
GM Scales Back Production, Cuts Corporate JetsSuffering U.S. automaker General Motors Corp will again cut its production, the firm said Friday. GM also said Friday that it would cut its fleet of seven corporate jets by two aircraft. Automakers' executives came under harsh criticism from Congress for the use of private jets even as they asked for assistance from Washington |
Buffett: Automakers Need Bailout or BankruptcyBillionaire investor Warren Buffett says U.S. automakers need a new business model to better compete, whether it takes bankruptcy or a government bailout to achieve. |
Forget Detroit, America's car future is in CaliforniaThese days the big news in the U.S. auto industry seems to be coming from Washington where Detroit's "Big Three" automakers are begging politicians for a few million greenbacks to save their ailing companies. But the real green in the auto industry was on display at the Los Angeles auto show, where the focus was on exactly the kind of environmentally friendly cars that American automakers so studiously ignored for so many years, to their ultimate detriment. |
Sexiest Cars at the L.A. Auto ShowThe L.A. Car show is in full swing, and we're bringing you the sexiest of the bunch. |
L.A. Auto Show: Production CarsThe 2008 Los Angeles is here. That means production cars; U.S. debuts like the 2009 BMW 7 Series. |
Electricity Surrounding The Chevy Volt is Palpable, Even in ParkThe Chevy Volt has a lot riding on it. Amid the chaos surrounding carmakers these days, the Volt represents a spark of hope. Buzz about the Volt has been building for years. Perhaps it will prove to be the smartly designed paradigm changer that can pull venerable GM out of the doldrums. Expectations are also high among car enthusiasts, futurists, and environmentally conscious consumers. |
Peugeot to Cut another 2,700 Jobs as Sales DwindlePSA Peugeot-Citroen, Europe's second-biggest carmaker, announced a fresh wave of job cuts on Thursday as a decline in European car sales is seen continuing into 2009. |