Industry

It will still distribute vehicles there

General Motors has announced that it will no longer build cars or engines in Australia by 2017 but still distribute vehicles there and in New Zealand. The Holden brand will continue to exist as GM’s Australian subsidiary but only be responsi...

The stock was sold for €250 million

General Motors is making some of the biggest business changes in its history this week. It announced Mary Barra as its next CEO, will shut down most of the Chevrolet brand in Western Europe and will end Holden production in Australia. While it ann...

The brand's success hinges on success in Asia

Volkswagen Group’s brands sold 828,600 cars in November, up 4.3%, and have sold 8.68 million cars from January through November this year, up 4.7%. "The Volkswagen Group produced a very robust performance despite the continuing econ...

The first of them will launch in 2016

General Motors and PSA Peugeot-Citroën have updated their plans for partnership and are now working on a shared B-segment MPV, a C-segment crossover and B-segment light commercial vehicle for Europe. All of them will use shared platforms, par...

The French government would also take a stake in the company

The deal between PSA Peugeot-Citroën is moving forward with its deal with Chinese automaker Dongfeng. The Financial Times reports that Dongfeng will pay between €3 and €4 billion ($4.0 billion to $5.5 billion) to take a portion of t...

CEO Dan Akerson will step down on January 15

General Motors has promoted Mary Barra from head of Global Product Development to be the company’s next Chief Executive Officer. Current CEO Dan Akerson will step down on January 15, 2014. Barra will be the first female CEO of the Big Three ...

Sales are down slightly in Europe but up elsewhere

BMW Group has record sales in November with 174,996 cars sold, 2.7% higher than November 2012. From January to November, BMW Group has sold 1,777,017 cars, up 6.8%. “Strong global demand for our products once again drove sales to a new a...

The Asian market has become a major growth area for Porsche

Porsche sales ticked up 9.5% in November to 14,150 cars worldwide in November, and the brand has sold 147,290 cars worldwide from January to November, up 14.2%. “Over the past few months, our attractive model range has helped us to achie...

The Canadian Government still holds 7.2%

The US Treasury Department has sold off its final shares of General Motors stock. According to Treasury Secretary Jack Lew government made back $39 billion of its $49.5 billion investment meaning that the government lost $10.5 billion on the ...

It is hoping that introduction of the Golf will boost sales

The Volkswagen Cars brand sold 522,100 cars in November, up 3.4%, and it has sold 5.4 million cars worldwide from January through November, a 3.4% increase. Outside of Asia, VW Cars’ sales have fallen in nearly every major market. "...