Automobile industry
US auto sales plummeted by 36% in December, making it the worst year for the industry since 1992. All major carmakers, including Chrysler, General Motors, Ford, Hyundai, Nissan, Mazda, Honda, and Toyota, reported sales declines ranging from 26.8% to 53% compared to the previous year. Subaru was the only
Automobile industry
China's new energy car industry is gaining momentum with the domestic fuel tax reform and government support, paving the way for large-scale commercialization. At least eight Chinese automakers are actively researching and developing new energy systems, with many already producing new energy cars. BYD's launch of
Automobile industry
The US government's decision to provide a $6 billion bailout to GMAC, the lender part-owned by General Motors, has boosted confidence in the country's stricken car industry. The package, which consists of $5 billion for an equity stake in GMAC and a $1 billion loan to
Automobile industry
Missouri Governor Matt Blunt has announced a series of tax incentives to encourage consumers to use ethanol and purchase vehicles that run on alternative energy. Speaking at the Ford Motor Co.'s Kansas City Assembly Plant, Blunt proposed offering tax breaks to gas stations that install equipment to sell
Automobile industry
The Society of Automotive Analysts (SAA) is set to present its 20th annual Automotive Outlook Conference on January 15, 2008, in conjunction with the North American International Auto Show (NAIAS) in Detroit. The conference features perennial sales projections from economists of Detroit's Three, including Paul Traub of Chrysler
Automobile industry
Toyota Motor Corp. has taken third place in U.S. auto sales for the first time, passing the North American division of DaimlerChrysler AG, according to recent data. Despite this achievement, Toyota's sales have not entirely come at the expense of its Japanese counterparts. In fact, the combined
Automobile industry
South Korean automakers, led by Hyundai Motor Co., reported a 11.5 percent gain in sales in 2006, driven by strong exports and a favorable market. Despite unfavorable factors such as a strong currency, labor strikes, and higher oil prices, the industry saw significant growth, with Hyundai Motor controlling over
Automobile industry
Automotive industry growth is expected to plateau in 2007, with a 0.06% decline in sales worldwide, according to Bank of Nova Scotia economist Carlos Gomes. This slowdown is largely attributed to stagnating demand in North America and Western Europe, two of the industry's largest markets. However, emerging
Automobile industry
South Korean companies have made significant strides in developing automobile assembly robots that rival market leaders in precision, speed, and versatility. Hyundai Heavy Industries Co. led a consortium in creating these robots, which received research and development support from the government worth 3.7 billion won (US$3.9 million)
Automobile industry
Mature markets in North America, Europe, and Japan will experience a decline in auto sales in the coming years, intensifying competition among auto manufacturers. Standard & Poor's Corp. forecasts a softening of overall sales, which will disproportionately affect major players like Ford Motor Co., General Motors Corp., and
Automobile industry
The auto industry in Vancouver is experiencing consolidation with dealerships clustering around the Vancouver Auto Mall. Recent partnerships and land swaps are driving this trend, with Jon Creedon and Alan Webb, owners of Vancouver Ford and Mazda-Dodge dealerships, forming a partnership to expand their businesses. The partnership involves swapping land
Automobile industry
Trade regulators have taken a decisive step towards reviving the US auto industry by revoking most of the 13-year-old tariffs and duties against high-grade steel imports. The International Trade Commission's vote covers all tariffs and subsidy-countering duties against carbon steel plate from 16 countries, providing a significant relief
