Nissan cuts profit forecast by 66%, will cut workforcePosted Oct 31st 2008 6:01PM by Chris ShunkFiled under: Hirings/Firings/Layoffs, Nissan, Earnings/FinancialsThe entire auto industry is hurting right now, and financial news from Nissan today is the latest evidence to support that overused statement. Nissan announced that it's shifting profit forecast for the fiscal year ending March 31, 2009 do... more.

Nissan cuts profit forecast by 66%, will cut workforcePosted Oct 31st 2008 6:01PM by Chris ShunkFiled under: Hirings/Firings/Layoffs, Nissan, Earnings/FinancialsThe entire auto industry is hurting right now, and financial news from Nissan today is the latest evidence to support that overused statement. Nissan announced that it's shifting profit forecast for the fiscal year ending March 31, 2009 do... more.

GM launches new campaign to ease credit worriesPosted Oct 16th 2008 10:31AM by Michael HarleyFiled under: Car Buying, Marketing/Advertising, GM, GMC, Earnings/FinancialsAfter announcing earlier this week that GMAC would only finance customers who hold credit scores higher than 700, General Motors has decided it would be prudent to reassure consumers that they are still in the business of securing ... more.

The most valuable carmaker in the world is... ta-da, VolkswagenPosted Oct 7th 2008 3:59PM by Jonathon RamseyFiled under: Porsche, Toyota, Volkswagen, Earnings/FinancialsAs with this year's American football season, weekly surprises in the car industry are now standard fare. VW recently overtook Ford for the number three spot in global sales, and now the home of the Beetle and the Veyron has overta... more.

WSJ: Big 3 seeking $25 billion from FedsPosted Aug 22nd 2008 4:58PM by Damon LavrincFiled under: Government/Legal, Chrysler, LLC., Ford, GM, Earnings/FinancialsNo matter how you slice it, a proposed $25 billion loan from the Feds is a bailout, and that's exactly what Detroit's Big Three automakers are after, according to a report by the Wall Street Journal.Lobbyists for General Motors, Chrysler an... more.

Ford to sell $500m in new stockPosted Aug 15th 2008 2:01PM by Chris ShunkFiled under: Ford, Earnings/FinancialsIn an effort to secure more capital and reduce debt, Ford plans to sell $500m in new stock. Ford will use the cash infusion to buy bonds from Ford Motor Credit, which has been struggling with the slow economy and nation-wide credit crunch. Goldman Sachs is handling the stock sale, and For... more.

Chrysler asks UAW for 10-hour, four-day workweekPosted Aug 11th 2008 5:03PM by Jeremy KorzeniewskiFiled under: Plants/Manufacturing, Chrysler, LLC., Earnings/FinancialsIn an effort to cut down on travel and energy costs, Chrysler is said to be in negotiations with the United Auto Workers Union to switch from five, eight-hour days down to four days with ten-hour shifts. We first heard this scheme m... more.

Chrysler's financial arm no longer offering leasesPosted Jul 25th 2008 4:08PM by Damon LavrincFiled under: Car Buying, Chrysler, LLC., Earnings/FinancialsChrysler LLC's financial division will no longer be offering leases to U.S. consumers on Chrysler products as of August 1st. The automaker will be holding a conference call with dealers later today to go over the changes and the reasons behind th... more.

GM's Plan: Small cars making a big profitPosted Jul 21st 2008 10:28AM by Jonathon RamseyFiled under: Economy, GM, Earnings/FinancialsGM currently owns about 13% of the small car market. With demand for small vehicles increasing with the price of black gold, GM is out to increase that market share. Nevertheless, even if it doesn't increase its share, it plans to make more money off of each small ca... more.

Mumbai, 29 May 2008: Shares in Tata Motors fell more than 8% today on concerns about its proposal to raise $1.7 billion from rights issues to help fund its purchase of Ford Motor's Jaguar and Land Rover.India's top truck and bus maker said on Wednesday it would raise Rs.72 billion from three rights issues comprising equity shares, "A" shares with limited voting rights and convertible preference sh... more.