Tag: Automotive
Porsche buys controlling stake in VW
The German luxury sport scar maker Porsche has taken over Volkswagen, the biggest European car maker, by purchasing more than 50 per cent of its shares, Porsche announced.[MORE]
Toyota to halt output as sales slump
Toyota is to halt production at all its Japanese plants for 11 days in a bid to reduce stocks of unsold cars as demand has slumped.[MORE]
Domestic car sales topped 1m in 2008
Car sales fell more than 11 per cent in December but Australians still purchased more than 1 million new vehicles in 2008.[MORE]
US car sales at worst level in 15yrs
The latest car sales figures in the United States confirm that manufacturers have had their worst results in 15 years.[MORE]
Mazda board to take 20pc pay cut
Figures released by Japan's Automobile Dealers Association show car sales slumped by more than 6 per cent last year, falling to their lowest level since the aftermath of the first oil shock in the early 1970s. [MORE]
Chrysler receives $5.6b government loan
US car maker Chrysler says it has received its first $5.6 billion ($US4 billion) emergency loan from the United States Government.[MORE]
GM bailout details boost US stocks
News of an extended car industry bailout package in the US has boosted stocks on Wall Street, with the market finishing more than 2 per cent higher.[MORE]
US puts up $7b to support auto lender GMAC
The Bush administration has expanded its bailout of the US auto industry, saying it is buying $US5 billion ($7.2 billion) in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $US1 billion.[MORE]
Ford case sparks call for juries in civil cases
Asbestosis sufferer's seven-year court battle with Ford sparks calls for juries to used to hear civil cases.[MORE]
Asbestos victim's victory over Ford 'bittersweet'
Ford has dropped an appeal against a compensation judgement for a Perth asbestos victim.[MORE]
Ford drops appeal in asbestos case
A Perth man whose lungs have failed after exposure to asbestos has claimed a victory over the Ford Motor Company.[MORE]
Opposition welcomes Tas Govt lifeline for ACL
The Tasmanian Opposition is relieved the State Govt has agreed to help the Launceston-based car parts manufacturer ACL Bearings.[MORE]
More job losses as US recession intensifies
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Govt figures show the US economy shrank 0.5pc in the last quarter and 10 million people are now officially unemployed.[MORE]
Libs urge action to curb ACL woes
The Tasmanian Government is being urged to alter the criteria of its Industry Support Scheme to help troubled car parts manufacturer, ACL Bearings.[MORE]
Green car fund not for petrol models: Xenophon
An independent Senator says the 'green' car fund should not back Holden's four-cylinder project.[MORE]
Toyota losses won't affect Aussie hybrid: Carr
The Federal Government says a deal to build a hybrid Toyota sedan in Melbourne is not threatened by the company's first operating loss in 71 years.[MORE]
Business and unions welcome Holden small car plan
The business lobby and unions welcome small car plans for the Holden plant in Adelaide.[MORE]
Toyota announces $2.5b operating loss
The world's biggest carmaker, Toyota, has forecast its first-ever operating loss.[MORE]
Riot police break up Russian car tax protest
Russian riot police have forcibly broken up a rally being held in the eastern city of Vladivostok. [MORE]
Holden boss unsure if new car will create jobs
Holden says production of a new car will secure existing jobs at its Adelaide plant, but it's unclear if new jobs will follow.[MORE]
Qld new car sales fall 25pc
New car sales in Queensland slumped 25 per cent last month, compared with last year.[MORE]
Holden unveils four-cylinder plans
The Holden car plant in Adelaide has announced plans to make a new four-cylinder car.[MORE]
Holden makes new production plans
The Prime Minister will be at an announcement today at the Holden car plant in Adelaide.[MORE]
Canada joins US in auto bailout
Canada will follow the US by providing billions of dollars in emergency loans to two US car manufacturers.[MORE]
Obama backs US car industry rescue
US President-elect Barack Obama has offered embattled US automakers a promise and a threat.[MORE]
