Ford Motor Co. has canceled plans to move production of the European Kuga model from Saarlouis, Germany to Louisville, Kentucky, as was originally planned last year. The move was planned in order to take advantage of lower labor rates and a weaker dollar, but the falling value of the Euro has made that plan null [...]
In his tell-all book due out this fall, former Car Czar Steven Rattner reveals how Chrysler came within a hair of going the way of Lehman Brothers, and being allowed to fail. A majority if the auto task force actually voted against offering aid to Chrysler, and it was only after a tense meeting with [...]
With its sights set on the future of the auto industry, GM”s $100 million venture capital arm made its second investment this week, when it acquired a small stake in a Michigan battery manufacturer. GM invested $4.2 million on Wednesday in Ann Arbor based Sakti3 Inc. The equity stake GM is receiving has yet to [...]
McLaren Automotive has dropped the biggest hint that it is interested in using hybrid technology in its future supercars. The company has advertised an electrical engineer job to work on the “concept, design and development of the electrical package and wiring system for a hybrid electric vehicle”. While a spokesman for McLaren wouldn’t confirm what [...]
While discarding rumors that he will soon leave the company, Ferrari Chairman Luca Cordero di Montezemolo let loose some details on what we can expect from the next-generation of vehicles from the Italian automaker. “I want to shape the next product cycle at Ferrari to assure a bright future at a company that has been [...]
Hoping to keep the 2011 Ford Fiesta marketing blitz going, FoMoCo is launching a sweepstakes where many will have the chance to win big. “How about a trip to NASCAR´s Ford Championship Weekend at Homestead-Miami Speedway, or an Insignia® HDTV from Best Buy or the grand prize, a 2011 Ford Fiesta?” To be eligible, all [...]
Here is some interesting news for those familiar with automotive related sites (like this one). According to reports, Kelley Blue Book is apparently up for sale. The Financial Times report cited by a News York Times blog yesterday, said that two unidentified bankers claim to have an inside scoop on the potential sale. One anonymous [...]
Earlier this week it was reported that FoMoCo is looking to differentiate its luxury Lincoln brand from the Ford brand after allocating extra resources following the death of Mercury. The Dearborn automaker has now invited Lincoln dealers to a meeting in October to discuss future plans for the brand that is lagging behind its rivals. [...]
FoMoCo, which has not elaborated on its long-term relationship with Japanese automaker Mazda, said that it is pleased with the current setup of the partnership. The Dearborn automaker currently owns 11 percent of Mazda after it sold a controlling stake two years ago to free up some cash. The stake was originally reduced to 13 [...]
Mini is scheduled to unveil a brand new concept on September 23 and you (that’s right you) can attend… if you live in the United Kingdom. “The event will take place in central London and include a special guest star as well as Adrian van Hooydonk, BMW Group Head of Design who will unveil the [...]
