Reuters reports that battery maker A123 Systems is filing to bankruptcy protection in Delaware.
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Ratings firm Fitch released a memo Tuesday outlining some possible problems relating to the proposed GM-PSA merger.
A merger between the Canadian Auto Workers union and the Communications, Energy and Paperworkers union passed a ratification vote Monday, which will see the two unions merge and create the largest private-sector union in Canada. The new union won’t be limited strictly to workers either.
Every day seems to bring new tales of doom and gloom for Europe. Is it time for a Continental Deathwatch?
Automakers looking for a bit of a break with CAFE compliance can now get a 2 for 1 special on EVs.
Anemic demand is causing Volvo to shut down their main Swedish factory for one week, starting October 29th.
The introduction of the Buick Verano Turbo is right around the corner, and that could spell doom for the Buick Regal, which has seen sales plunge by 37 percent this year.
Brazil detailed their new five-year national auto policy, which is meant to spur investment in new auto factories, locally sourced parts content and reduced vehicle prices.
As part of a cost-cutting measure, workers at the Opel/Vauxhall plant at Ellsemere Port, UK, will switch to a four-day week from the current five-day setup.
The rise of low-cost cars has captured our attention at TTAC for more than just our love of obscure cars. With mainstream brands being hollowed out in Europe, low-cost cars are becoming the new default choice for the 99 percent, and making them profitably presents an even greater challenge. While Dacia and Datsun get a lot of attention around here, we have to give credit to Chrysler for their novel approach to the low-cost car, long before the Sandero was even a glimmer in James May’s eye. Read More >
More bad news from PSA – production of the brand-new Peugeot 208 subcompact will be cut by one third, as PSA grapples with an imploding market for small cars in Europe.
Volvo’s target is the lower end of the Lexus, BMW, Audi and Mercedes lines… Most experts consider the cars made by these companies engineering marvels. And Volvo, a Swedish marque with Chinese ownership, is another manufacturer that does not have the model line, marketing budget or dealer network to hope to compete.
Doesn’t sound like a vote of confidence, does it?
A couple of weeks ago the Wall Street Journal published an article about a “little-noticed” lawsuit in U.S. Bankruptcy Court filed by a trust representing “old” GM’s unsecured creditors. Those creditors are challenging a 2009 deal between GM Canada and a group of hedge funds that helped keep GM’s Canadian subsidiary out of its own bankrupcy. It’s a bit surprising to me that the WSJ article itself got very little notice in the automotive world because, if successful, the lawsuit could undo at least part of GM’s restructuring or result in a $1.3 billion price tag for the automaker. In regulatory filings GM has said its possible exposure will be less than that, $918 million, though in theory the bankruptcy court could reopen the entire bankruptcy, which would be much more disruptive to GM than just paying out a billion dollars.
Shares of General Motors held by the Canadian federal government and the government of Ontario may have difficulty unloading their $9 billion stake in General Motors, according to a report by Bloomberg.
Good news for Canada’s manufacturing sector; GM has confirmed plans to add a third shift to the Oshawa Flex Line to help meet demand for the 2014 Chevrolet Impala.
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