Automobile industry
Irish shares suffered a heavy blow yesterday as the global market took a drastic downturn, fueled by growing anxieties over the US economy's health and the US banking sector. The White House's rejection of General Motors and Chrysler rescue plans sent US markets reeling, with the
Automobile industry
Toyota Motor Corp., Japan's largest carmaker, has announced a partnership with three other companies to develop a fuel cell electricity system for home use. The system is designed to be completed by the early 2010s and will harness the power of hydrogen fuel cells, which reduce carbon emissions
Automobile industry
The Tokyo Motor Show, a major biennial auto event, will have a significantly reduced number of exhibitors due to the industry slump. In contrast to the previous event in 2007, which featured 241 companies from 12 economies, this year's show will have around 122 companies from nine economies.
Automobile industry
The debate over congressional intervention in the automotive industry has been heating up, with some arguing that the bailout is necessary to save thousands of jobs and regional economies. However, a recent article in Consumer Reports magazine suggests that such intervention may not be warranted, particularly for companies like Chrysler
Automobile industry
The Australian car industry lobby has clashed with a think tank over suggestions that taxpayer subsidies may fail to save Holden from collapse. The Centre for Independent Studies has argued that Holden's parent company, General Motors, would sell off its global brands and liquidate the Australian operation if
Automobile industry
Michelin, a leading tire manufacturer, is collaborating with French automaker Heuliez to bring to life the Will city car concept, which features Michelin's groundbreaking Active Wheel technology. This innovative system integrates electric motor, brakes, and suspension functions into a single wheel, paving the way for significant weight savings
Automobile industry
Infuriated by a "crappy decision" to purchase foreign-made Mercedes-Benz cars for a casino promotion, Infrastructure Minister George Smitherman has blasted the Ontario Lottery and Gaming Corp. (OLG) for a "huge lapse in judgment" that prioritized luxury vehicles over Canadian jobs. The purchase of 22 Mexican- and
Automobile industry
Weak auto sales continued in February, with overall sales down 41% compared to the same period last year. This decline marks the worst sales since 1981. Despite an average incentive of $2,900, which was up 8% from the previous month, sales failed to pick up steam. The Big Four
Automobile industry
As the global economic crisis deepens, South Korean automakers are feeling the pinch. According to recent reports from the companies, February sales plummeted 8% compared to the same period last year. Hyundai Motor Co. and Kia Motors Corp., the nation's top two carmakers, led the decline, with sales
Automobile industry
According to the latest rankings released by Consumer Reports magazine, Japanese carmakers have asserted their dominance in the global automotive industry. For the eighth consecutive year, Japanese manufacturers secured top spots in multiple categories, with Toyota Motor Corp. emerging as a clear leader. The publication's rankings, which evaluate
Automobile industry
AvalonBay Communities, a real estate investment trust, reported a 6.7% increase in its 4Q FFO, excluding impairments and other charges. The company primarily focuses on developing high-quality, multi-family apartment communities for higher-income clients in high barrier-to-entry regions of the US. Meanwhile, The Pepsi Bottling Group is addressing the lackluster
Automobile industry
Seoul-based GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., has appealed to the Korea Development Bank (KDB) for hundreds of millions of dollars in aid, citing dire financial straits and a steep drop in sales. The request comes after the South Korean government turned
