BMW AG suffered a 17% fall in profit in the first quarter of 2008. The luxury car makers own an array of brands including BMW, Mini and Rolls Royce. They earned 487 million euros ($761 million) from January through March, down from the 587 million euros it earned in 2007 and much below posted predictions.
BMW [...]
Economic downturn, rising fuel prices and a dip in the demand of trucks has led GM to take drastic measure. The auto giant will be cutting one shift each at their large SUV and pickup truck plants in Flint and Pontiac, Michigan; Janesville, Wisconsin; and Oshawa, Ontario. An estimated 3,550 layoffs are to hit this [...]
Indian Car makers Tata, fresh from acquiring Land Rover and Jaguar, have formally expressed intent to acquire minority stake in renowned design house Pininfarina. Pininfarina is famous for the designs that they have made for several sports car makers across the world, most notably for Ferrari.
Its stunning body of work however, has not made [...]