Industry

Now holds 25 million shares of US automaker

Famous investor and one of the richest men in the world Warren Buffet has had his company, Berkshire Hathaway Inc., purchase 10 million additional shares of General Motors stock, which bolsters the company's holdings to 25 million shares. The ...

First among them will be new S-Class

Mercedes has announced that it is bringing 13 brand new cars that have no predecessors to market by 2020, according to Daimler Chairman Dr. Dieter Zetsche.  We know what a few of these cars are already. The first among them will be the ne...

Already has plans to improve in 2013

Renault released its annual financial results for 2012 today and things were significantly better than expected, and it is already looking at novel ways to boost sales further in the future like selling cars directly online.  In 2012, Ren...

Would need a loan to cover the rest of the purchase

Fiat is negotiating privately with banks to secure a loan to buy the remaining 41.5% of Chrysler from the United Auto Workers medical benefits trust. Between negotiating the terms of the loan with the bank and negotiating the price of the shares w...

It will build more of the new 1.6 direct injected Ecotec turbo engine

Opel will spend €130 million to expand its Szentgotthárd, Hungary, factory to build its new generation of 1.6-liter, four-cylinder direct injection EcoTec turbo engines. Production of the engines has already begun at the factory, ...

China is no longer allowing foreign automakers to build factories

General Motors and its partner SAIC plan to take advantage of the consolidation in the Chinese auto market to increase sales. The Chinese auto market is still growing, but the Chinese government wants to consolidate its nation's automakers. It...

Only one small, portion is required for the platform

If automakers can experience envy, then Volkswagen's MQB (Modularer Querbaukasten or modular transverse layout) is inspiring it among automakers all over the world. It appears that Volkswagen's $70 billion investment in the platform could ...

Move will increase capacity at Chrysler Mexico factory

Fiat plans to launch a second generation, modern Fiat 500 in 2015 and production for the version sold internationally will be moved from Chrysler's factory in Mexico to Fiat's factory in Tychy, Poland.  The move in production...

Opel has received over 80,000 preorders for the Mokka with most sales coming from Germany, Russia, the UK, Italy and France. Opel forecasts that 66% of sales will come from these countries. The model getting the highest sales is the Mokka Cosmo wi...

Minister says that PSA cannot fail

French Budget Minister Jerome Cahuzac has been hinting that the French government would be willing to buy a stake in PSA Peugeot-Citroën to keep the company from failing.  "Let's be clear: this company cannot, must not ...