Industry

Will jointly develop three models together

General Motors and PSA Peugeot-Citroën have finally agreed to a joint venture, but it is less broad than originally planned. The two companies will co-develop three new vehicles. The three new platforms will be an MPV for Opel/Vauxhall, p...

Will be built in Lansing, Michigan

General Motors has announced that the next generation Chevrolet Camaro will be built in Lansing, Michigan, instead of Oshawa, Canada, like the current model. Chevrolet cites lower prices and more efficiency as reasons for the change. The Camar...

Former chief financial officer also charged

Former Porsche CEO  Wendelin Wiedeking and ex-CFO Holger Haerter have been charged by the Stuttgart prosecutor for stock price manipulation related to the attempted takeover of Volkswagen in 2008. The court has not yet scheduled a d...

US government will no longer own GM in next 12 to 15 months

General Motors has announced that it will buy back 200 million shares of stock from the US government for $27.50 a share for a total of $5.5 billion. The US Treasury Department that has been the owner of the GM stock says that it will divest itsel...

Wants to dominate the Indian market

Among all of the automakers in Europe, the Renault-Nissan Alliance has been the fastest to cope with the European debt crisis by branching out to emerging markets. Renault parleyed its 25% ownership of AvtoVAZ into buying a controlling stake in th...

New plan only calls for joint development

The original plan for General Motors and PSA Peugeot-Citroën to form a joint venture, which would have divested control of Opel and Vauxhall away from GM, was cancelled when PSA took a large French government loan that put government official...

InvestIndustrial built ties with Mercedes when it owned Ducati

One of the keys to InvestIndustrial's purchase of 37.5% of Aston Martin was that it would potentially provide a link to using Mercedes technology. While InvestIndustrial owned Ducati, it created a relationship with Mercedes that it hopes will ...

Will likely be revealed next May at anniversary celebration

Lamborghini will celebrate its 50th anniversary as an automaker with a party in Milan in May 2013 and plans to reveal a new car during the festivities.  Lamborghini CEO Stephan Winkelmann said that the company will build "a special c...

Workers will be able to work 34 hours a week for the same pay

Do you want to work fewer hours for the same pay and benefits? Then go knock on Porsche's door in Zuffenhausen. The company is lowering the workweek for its Zuffenhausen employees to 34 hours per week but paying them the same with the same ben...

Sales down 7.6% for year so far

The ACEA, the European Automobile Manufacturers Association, has released its monthly report on EU auto registrations, and things are down for the 14th consecutive month.  In November, EU consumers registered 926,486 cars, which is down 1...