Automobile industry
Despite a significant sales decline, Toyota's Corolla remained the top-selling car in Japan for the third consecutive year in 2005. According to the Japan Automobile Dealers Association, the Corolla sold 149,810 units, a 13.6% decrease from the previous year. The Vitz, another Toyota model, came in
Automobile industry
South Korean exporters are closely monitoring the decline of the US dollar against the won, as a weak dollar makes their products more expensive in overseas markets. Exporters such as Samsung Electronics, LG Electronics, and Hyundai Motor are trying to minimize the impact of currency fluctuations on their earnings. A
Automobile industry
The Department of Justice (DOJ) and the Environmental Protection Agency (EPA) have reached a major settlement with DaimlerChrysler Corporation, a leading automaker in the United States. The agreement stems from allegations of defective emissions controls on nearly 1.5 million Jeep and Dodge vehicles from model years 1996 through 2001.
Automobile industry
The United Auto Workers union has announced a tentative agreement with Ford Motor Co. on health care costs that will require "sacrifices" from workers and retirees. The agreement, which is subject to ratification by UAW members and court approval, will ask active and retired members to make contributions
Automobile industry
Dongfeng Motor Group, a Chinese automaker, has seen its shares rise significantly in Hong Kong following its initial public offering (IPO). The company, which makes Nissan, Honda, and Citroen cars, raised $3.97 billion in the IPO and aims to expand sales to make up for declining profit margins and
Automobile industry
American car manufacturing has hit rock bottom, with Detroit's three major automakers - General Motors, Ford, and Chrysler - witnessing a significant decline in market share. General Motors recently announced a further 30,000 job cuts and factory closures, buoyed by a 25.6% drop in sales compared
Automobile industry
Renault Samsung Motors Co., South Korea's smallest carmaker, has announced plans to produce its compact cars under the brand name of Nissan Motor Co. for exports from 2006. The decision was revealed by Renault Chairman Carlos Ghosn, who also stated that the company will roll out a sports
Automobile industry
The 39th Tokyo Motor Show, attended by 240 automakers, component suppliers, and other related firms from 13 countries and one region, highlighted the industry's shift towards sustainable mobility with fuel-cell and electric vehicles. The two-week show, running from October 19 to November 6, featured nearly 600 cars and
Automobile industry
Ford Motor Co. and other major US automakers are in talks with the United Auto Workers (UAW) to reduce health-care costs, following an agreement reached by General Motors Corp. to trim those expenses. The discussions at Ford are described as "very private and constructive" by Joe Laymon, a
Automobile industry
Automotive sales declined significantly in September, with U.S. manufacturers experiencing a substantial hit in the sport utility vehicle (SUV) segment. The industry-wide slump was attributed to a combination of factors, including the aftermath of Hurricane Katrina, which led to a surge in gas prices. Additionally, the summer's
Automobile industry
Porsche is facing widespread criticism from investors over its decision to invest €3.3 billion in rival German carmaker Volkswagen, but the company claims the deal will produce "double digit" returns and was not the brainchild of Ferdinand Piech, VW chairman. Porsche, a sports car specialist, says the
Automobile industry
Ferdinand Piech's grandson, Ferdinand Piech, is behind Porsche's attempt to buy a fifth of Volkswagen's voting rights. The move is seen as a strategic alliance between the two German carmakers, with Porsche looking to become VW's "partner of choice". The
