Industry

General Motors appears to be doing whatever it can to reduce costs in Europe. Rumors indicate that it is negotiating with PSA to create a new joint venture, but if that falls through, it is negotiating with Opel to close at least one factory, mayb...

Nissan's financial results look good at first glance but throw up major red flags when you take a deeper look.  For the third quarter Nissan did quite well. Global sales are up 7.6% to about 2.4 million cars. Sales were up 7.5% in Jap...

Porsche is on track to beat last year's sales records by nearly a fifth. Through the first three quarters of this year, the company's revenue is up 28.1% to €10.15 billion and unit sales are up 20.2% over the same period to 103,245 ca...

Renault has posted heavy losses through the third quarter of 2012. Unit sales were down 5.8% for the quarter. The company's biggest problems were in Europe where unit sales fell 18.4% and market share shrank 1.2% to 6.8% overall. The company n...

General Motors is investing $450 million through 2015 in its Rosario Automotive Complex in Argentina to build a new global car. The announcement was made by GM CEO Dan Akerson, Argentina President Cristina Fernández de Kirchner; G...

Daimler AG's total revenue was up 3% to €28.6 billion in the third quarter, but that all of the good news for the company. Pre-tax earnings were €1.921 billion for the third quarter of 2012, compared to €1.968 billion in th...

Ford has announced that it will be closing two more factories in addition to the Genk, Belgium, factory by the end of 2014. The Southampton and parts of the Dagenham factories will both be closed in 2013. In total, Ford will shed 5,700 e...

Volkswagen Group posted its financial results through the first three quarters, and things look mixed for the German automaker. There are a few interesting blips in the results.  Sales Revenue was up 24% to €144.2 billion and profit ...

Ford announced an emergency meeting for union members and employees at its Genk, Belgium, factory for October 24, yesterday. The speculation was that Ford was closing the factory, and the speculation was absolutely right. Ford officially announced...

In order to cope with low revenue, PSA Peugeot-Citroën is taking a multi-billion euro loan from the French government. The company reported its third quarter financial information on October 24. Revenue for the automotive division is down...