Automobile industry
The Chinese government has submitted a file to the US Department of Commerce accusing Chrysler, Ford, and General Motors of dumping and subsidizing automobile exports to China, potentially leading to increased duties for the US auto giants. The investigation marks a significant escalation in the ongoing trade tensions between the
Automobile industry
The U.S. Treasury and Federal Reserve announced a set of rules to reduce excessive executive compensation at firms that received federal bailout funds, aiming to alleviate concerns over executive pay at companies reliant on taxpayer support. The Treasury Department required seven firms, including Bank of America and Citigroup, to
Automobile industry
The Obama administration has issued an order requiring seven major companies that received significant federal aid to reduce compensation for their highest-paid executives. The affected companies are Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler, and Chrysler Financial. The move is part of the
Automobile industry
As the U.S. economy continues to show signs of recovery, large cap stocks are expected to lead the way in the third quarter earnings season, surpassing their mid and small cap counterparts. With many industries showing steady stabilization, investors are looking for promising results from major corporations. Meanwhile, smaller
Automobile industry
The General Motors Co. has announced significant advancements in its second-generation hydrogen fuel cell system, which is now half the size and 220 pounds lighter than its current counterpart in the Chevrolet Fuel Cell electric vehicle. This development addresses one of the major hindrances to making the fuel cell unit
Automobile industry
Toyota Motor Corp.'s Prius car seized the top spot in Japan's hybrid sales rankings for the six-month period from April to September, thanks in large part to government tax breaks for fuel-efficient vehicles. Sales of the gasoline-electric car surged more than threefold from the previous year
Automobile industry
Visiting British Secretary of State for Business Peter Mandelson met with Nissan's senior vice president, Andy Palmer, at the British Embassy in Tokyo to discuss the Japanese automaker's plans for electric vehicle production. Mandelson expressed hope that Nissan will take a step further towards manufacturing electric
Automobile industry
In a bid to retain a car manufacturing industry, the Australian Government is leading a 20-strong mission to the US and Britain, headed by Innovation, Industry, Science and Research Minister Kim Carr and former premier Steve Bracks. The team will meet with top executives and government officials to explore new
Automobile industry
Automakers are now facing the consequences of the government's Cash for Clunkers program, which drew in many customers in July and August and prompted sales of nearly 700,000 new cars and trucks. General Motors Co. reported a 45 percent decline in September sales compared to the same
Automobile industry
In a significant boost to Thailand's economic growth, three prominent US car manufacturers have announced plans to increase their investments in the country. According to Thai trade representative Kiat Sithiamorn, Ford Motor Company, General Motors, and Chrysler aim to invest at least 10 billion baht (approximately 297.53
Automobile industry
General Motors' (GM) local assembly plant in South Africa remains committed to operation, despite facing significant challenges, including the high costs of sourcing vehicle parts. Nick Reilly, president of GM International Operations, highlighted the importance of a competitive local component supply base, urging domestic suppliers to rationalize and improve
Automobile industry
At the 2009 Frankfurt Motor Show, European automakers unveiled a plethora of hybrid and electric vehicles, many of which are powered by advanced technologies from Japanese companies. Renault SA, a French automaker, highlighted its electric offerings, developed in collaboration with Nissan Motor Co., with plans to launch the electric version
