North America’s largest auto supplier, Magna International Inc., reported a fourth-quarter loss of $148 million, citing the drop in demand for new cars as the reason. Magna said that it ended 2008 with sales of $23.7 billion, a 9 percent drop when compared to the same period last year. Co-executive chairman Don Walker said that Magna [...]
As reported last week, GM is disbanding its High Performance Vehicle Operations. GM said that it will shift all of its focus on mainstream products and that all high-performance projects are on an indefinite hold. A GM spokesman was heavily quoted using Ford’s Special Vehicle Team as an example for the move by the Detroit [...]
Spyker has just released a teaser of the production Spyker C8 Aileron that will make its debut at the 2009 Geneva Motor Show next week. We expect the C-line sports car to stay true to the concept version unveiled at last year’s Geneva Motor Show. Power comes from an Audi 4.2L V8 making a total [...]
In the past, Toyota attached the Verso badge at the end of Corolla and Yaris models. The Toyota Corolla Verso first made its debut in 1997 as a two-box minivan. Later in 2000, Toyota used the Verso badge on a mini MPV based on the Yaris minicar. Toyota will now bring the Verso name back at the [...]
The BMW Concept 5-Series Gran Trusimo will be the star at the Munich automaker’s 2009 Geneva Motor Show display next week. Rumor has it that BMW is working on a Concept 3-Series Gran Turismo for the 2009 Frankfurt Motor Show in Sept. The car is internally known as the V3 or Progressive Activity Coupe – [...]
While Swedish government isn’t guaranteeing any loans for Saab until it can find a private investor, Sweden’s Industry Ministry state secretary Joran Hagglund said that the government is set to guarantee a loan for Volvo. According to a report by financial daily Dagens Industri, the Swedish government would guarantee up to 90 percent of a 5-billion-kronor ($573 [...]
The 2010 Audi A5 and S5 Cabriolet were scheduled to make their stateside dealer debut in September. However, according to Audi of America spokesman Christian Bokich, Audi has decided to push back the launch until late 2009. “We are now being conservative in making sure we sell enough of the final A4 and S4 Cabriolet [...]
Nissan has unveiled the production version of the NV200 prior to its Geneva Motor Show debut. A lot has changed from the concept version of the NV200 that made its debut at the 2007 Tokyo Motor Show – mainly to make the new more road legal and safer. The Nissan NV200, designed to be a [...]
Kia will continue its concept car tradition at the 2009 Geneva Motor Show with a new concept called the No 3 Concept Car. Kia says that the No 3 “redefines the small MPV genre by creating a beautiful car that is also fun-to-drive.” It will feature an extended windshield and a panorama glass roof that [...]
Obama’s auto task force will be meeting with executives from GM and Chrysler later this week as the two automakers face a March 31 deadline to win concessions from the UAW and bondholders. Two administration official confirmed that auto team members from the Treasury and the White House’s National Economic Council will be meeting with GM [...]
