Chrysler LLC has sold their Brazilian production plant Tritec Moyors Ltd to Fiat Powertrain Technologies, all 314 acres of it, for an amount estimated to be around the range of $127.5 million.
The deal included not only the land but also the production lines, manufacturing unit and licenses to manufacture the plant’s present set of 1.4 [...]
The plight of the US economy is beginning to take its toll on various industries and the automotive industry seems to be on of the worst affected. Reeling under a 14% drop in sales to a dismal 150,093 vehicles, Chrysler has told its 70,000 workers to take a two week break in July.
This industry is [...]
The recently concluded Geneva Car Show had a lot of auto makers laying big stress on the new global buzz word- environment friendliness. Surprisingly Geneva saw an announcement from world famous car makers Bentley claiming their intention to turn over a green leaf. Bentley is not exactly famous for eco friendliness with their cars spewing [...]
In an attempt to boost sales and growth in America, Audi may venture to open an assembly plant in North America. This will help Audi realize their goal of nearly doubling their US sales to 180,000 by 2015. Their target for the present year stands at 100,000.
They plan to achieve this either by setting up [...]
After receiving nearly 40 complaints that the braking mechanism in the Pontiac Solstice 2008 and the 2.0 liters Turbocharged Saturn Sky Roadster could be faulty, National Highway Traffic Safety Administration (NHTSA) has announced plans to carry out a preliminary investigation.
The problem, according to complainants, is the excessive brake pedal force that is required to bring [...]
BMW is set to pump a gigantic sum of 750 million dollars with the aim of expanding their production plant in Spartanburg, South Carolina, which will now function as their global centre for the manufacture of the new X3 SUV, the X5 and the X6.
The automotive manufacturer intends to expand the plant by 1.2 million [...]
In a bid to save the environment, the budget is likely to make cars with higher CO2 emissions more expensive.
Following recommendations of a report by the Treasury of Julia King, the vice-chancellor of Aston University, that requested the government to discourage the purchase of these polluting cars by either raising their price or the running [...]
The ongoing conflict between American Axle and Manufacturing Holdings and United Automobile Workers (U.A.W.), has taken its toll on one more G.M. plant taking the total tally of shut down plants to seven.
On Thursday, G.M. temporarily ceased operations at one more assembly plant at Wentzville, Mo., near St. Lois, due to shortage of parts. The [...]
Korean car makers Kia have exhibited three concept cars at the 78th Geneva Motor show which are part of their SOUL series. With their eyes firmly on the youth market, these three concept cars have a distinct personality and market.
The three concept cars, namely, The SOUL Diva, SOUL Burner and the SOUL Searcher were designed [...]
Despite bearing the brunt of a $2.7 billion loss, Ford has still decided to give every hourly union employee, working for Ford in USA and Canada, a $1,000 lump sum bonus.
In an e-mail addressed to the concerned employees, Ford Motor CEO Alan Mulally stated that despite losses, Ford has managed to achieve all targets everywhere [...]