Jaguar Land Rover has announced a deal to supply a Chinese company with 13,000 vehicles, providing a dose of good news for the beleaguered UK car industry. Jaguar said it was "a very significant" order, and was particularly welcome at "this challenging time". The order, for both Land Rover and Jaguar cars, comes as many carmakers have cut … [Read more...]
Kia named Car Maker of the Year
February 27, 2009 By Leave a Comment
Kia Motors UK has been named Car Maker of the Year by the leading motor trade magazine AM in its 2009 Awards. Praising the company for its “increasingly strong” relationship with its dealers and for its “clear strategy” the award was presented by BBC News anchor Huw Edwards to Paul Philpott, Managing Director of Kia Motors (UK) Ltd. … [Read more...]
Ford Lowers U.S. Sales Outlook by 1 Million Vehicles
February 26, 2009 By Leave a Comment
Ford Motor Co., banking on a sales rebound to avoid taking US federal aid, lowered its forecast for 2009 U.S. auto sales in an annual regulatory filing today. Ford said it now expects the total U.S. car and truck sales to fall as low as 10.5 million vehicles this year, a reduction of 1 million from a forecast the company issued only in January. … [Read more...]
Volkswagen head for a Chinese take away
February 26, 2009 By Leave a Comment
In its quest for domination of the global car market the Chinese government are encouraging its citizens not to trade in their 10 year old cars as in Europe but instead their bicycles! The package is … [Read more...]
More bad news as GM posts $1.6bn loss in Europe
February 26, 2009 By Leave a Comment
General Motors Europe´s financial health deteriorated sharply during 2008 as the carmaker suffered an "adjusted" pretax loss of $1.6 billion, compared with an "adjusted" pretax profit of $55 million in 2007. GM Europe blamed lower unit sales, a poorer mix of models sold and "unfavorable" foreign exchange for the loss. GM Europe´s full-year … [Read more...]
GM faces mass protest by European workers
February 26, 2009 By Leave a Comment
General Motors faces mass protests by European labour unions today as thousands of workers from the Opel, Vauxhall and Saab divisions gather in Germany to rebuff any moves to eliminate jobs and close plants. Employees are gathering to demand “a secure and viable future,” IG Metall, the country’s biggest labor union, said on its Web site. … [Read more...]
Japanese car manufacturing – output plummets
February 25, 2009 By 1 Comment
Leading Japanese carmakers have reported a significant drop in their global output as the downturn bites. Toyota Motor said worldwide production of all its brands fell 39.1% in January from a year earlier, the biggest percentage drop on record. Honda Motor reported a 33.5% drop, the biggest since 1999, while Nissan Motor's global output … [Read more...]
VW scale back production
February 24, 2009 By Leave a Comment
So far most of the fallout from the 'new car crash' have been somewhat contained, but when production lines at VW and Audi start to fall silent, we are in no doubt that this is a global phenonomem. The short week at seven plants across Germany is the first in 26 years of production and in all 86,000 VW group staff are affected. Although the parent … [Read more...]
GM European brands “near collapse”
February 22, 2009 By Leave a Comment
General Motors' European brands are near collapse, with Germany's Opel in need of more state funding and Sweden rejecting Saab's plea for state aid until its business plan is sound. Filing for protection from creditors on Friday, Saab said it would present a reorganization proposal within three weeks. Court filings revealed Saab estimates its … [Read more...]
6000 jobs under threat as UK car plant ‘at risk of closure’
February 21, 2009 By 4 Comments
Speculation is rife after Unite joint leader, Tony Woodley revealed that a "major UK car plant may be forced to close within days unless it gets urgent state aid" He said the government had to act to prevent what he described as "a catastrophe". The union says it would have been irresponsible to have named the company but also irresponsible not … [Read more...]
Saab requests creditor protection
February 20, 2009 By Leave a Comment
The board of the Swedish carmaker Saab, which is owned by General Motors, has filed for reorganisation, seeking protection from its creditors. The reorganisation process is the Swedish equivalent of going into Chapter 11 bankruptcy in the US. … [Read more...]
UK car production down nearly 59% in January
February 20, 2009 By Leave a Comment
A total of 61,404 news cars were produced last month, 58.7% lower than January 2008, as plants closed for extended winter shutdowns. Car production continued to fall sharply, down 58.7% in January Commercial vehicle production also posted a substantial fall, down 59.9% Plants announce further action in response to weak global demand 83.5% of … [Read more...]
Saab future in doubt
February 20, 2009 By Leave a Comment
The board of the Swedish carmaker Saab, which is owned by General Motors, has held an extraordinary board meeting to consider its future. Local media reports have suggested Saab was considering taking measures to seek protection from creditors. There have been doubts about the future of Saab since the Swedish government rebuffed GM's call for … [Read more...]
Toyota freezes pay for UK staff
February 19, 2009 By Leave a Comment
Toyota has announced a freeze on pay and management bonuses at its UK car-making operations in 2009. The Japanese auto giant today said Toyota Manufacturing UK would also introduce a voluntary severance program for staff at its plants near Derby in central England and Deeside in north Wales. … [Read more...]
UK, Germany and Sweden cool on GM calls for help
February 19, 2009 By Leave a Comment
The UK, Germany and Sweden have reacted coolly to calls for $6bn (£4.2bn) of aid from US car giant General Motors. The UK said it was still considering the details. Chancellor Angela Merkel called for a plan for GM's German Opel brand before aid could be considered. Swedish industry minister Maud Olofsson said it was up to the US carmaker to … [Read more...]
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