Cars
After the U.S. market meltdown, which resulted in General Motors and Chrysler receiving a bailout, the two automakers along with Ford recovered quickly and are now posting near-record profits.
- Chevrolet Sets New First Six Months Record In 2013, Gm Global Sales Up 4 Percent
General Motors had some good news to report today in regards with its worldwide sales. The Detroit-based group seems to have fully recovered from its bankruptcy and successive bailout posting global sales of over 4.85 million vehicles in the first half...
- Achtung! Vw To Post Its First Profit Drop Since 2009 Due To Deepening European Crisis
German car manufacturers are not, after all, immune from the debt crisis that has already affected the rest of their European rivals. After Mercedes-Benz reportedly implemented a US$1.3 billion cost-cutting program to maintain profitability, VW is expected...
- France Wants The European Union To Monitor South Korean Car Exports
The spike in South Korean car sales in Europe the past few years has the French worried as at the same time they are seeing their numbers drop amidst the debt crisis that has engulfed the continent. Just last year, sales of Korean cars in the European...
- Gm May Be Forced To Write Down Psa Peugeot Citroen Investment, But Will Hold On To The Alliance
Looking for a way to fix its ailing European operations, which was the only ointment in its crown in 2011 when it regained the number one spot in world car sales, General Motors formed an alliance with PSA Peugeot Citroen last March. On paper, it was...
- Gm Ceo Says European Crisis Forces Company To Reevaluate Its Operations
Speaking at a recent Detroit Economic Club forum, General Motors Chairman and CEO, Dan Akerson told reporters that while GM is performing admirably in the U.S., the mounting European debt crisis is forcing the Detroit automaker to rethink its strategy...
Cars
Detroit's Big 3 to Record US$4 Billion Combined Losses this Year due to European Car Sales Slump
After the U.S. market meltdown, which resulted in General Motors and Chrysler receiving a bailout, the two automakers along with Ford recovered quickly and are now posting near-record profits.
However, it seems that Detroit's Big Three have to face the fact that, even though their sales are blooming in most parts of the world, the European debt crisis will put their local operations in the red.
According to a report from the Detroit News, GM’s Opel/Vauxhall and its French partner PSA Peugeot Citroen, Ford of Europe and Fiat will lose a combined US$4 billion this year because sales in the Old Continent are slumping to their lowest levels since the mid-1990s.
Read more »- Chevrolet Sets New First Six Months Record In 2013, Gm Global Sales Up 4 Percent
General Motors had some good news to report today in regards with its worldwide sales. The Detroit-based group seems to have fully recovered from its bankruptcy and successive bailout posting global sales of over 4.85 million vehicles in the first half...
- Achtung! Vw To Post Its First Profit Drop Since 2009 Due To Deepening European Crisis
German car manufacturers are not, after all, immune from the debt crisis that has already affected the rest of their European rivals. After Mercedes-Benz reportedly implemented a US$1.3 billion cost-cutting program to maintain profitability, VW is expected...
- France Wants The European Union To Monitor South Korean Car Exports
The spike in South Korean car sales in Europe the past few years has the French worried as at the same time they are seeing their numbers drop amidst the debt crisis that has engulfed the continent. Just last year, sales of Korean cars in the European...
- Gm May Be Forced To Write Down Psa Peugeot Citroen Investment, But Will Hold On To The Alliance
Looking for a way to fix its ailing European operations, which was the only ointment in its crown in 2011 when it regained the number one spot in world car sales, General Motors formed an alliance with PSA Peugeot Citroen last March. On paper, it was...
- Gm Ceo Says European Crisis Forces Company To Reevaluate Its Operations
Speaking at a recent Detroit Economic Club forum, General Motors Chairman and CEO, Dan Akerson told reporters that while GM is performing admirably in the U.S., the mounting European debt crisis is forcing the Detroit automaker to rethink its strategy...