Automobile industry
Ford Motor Company has begun sales of its first imported cars with right-hand drive in Japan, marking a significant expansion into the Japanese market. This move comes as the Japanese market for foreign vehicles, particularly American-made cars, has been showing strong growth. The company hopes to triple its sales of
Automobile industry
BMW appears to be the front-runner in a highly competitive bid to supply the engine for Jaguar's new diesel car, set to debut in 1995 or 1996. However, Italian company VM Motori, partly owned by Midland Private Equity, is still in the running, having recently secured a major
Automobile industry
Auto sales in the United States experienced a moderate 3 percent growth in May, following a strong period in the early spring. This slowdown can be attributed to both factory production constraints and a general cooling in the economy. Sales of domestic and imported cars edged up 4 tenths of
Automobile industry
A bitter dispute over alleged industrial espionage has escalated between General Motors Corp. and Volkswagen AG, with GM's German subsidiary Adam Opel AG demanding the arrest of Volkswagen's production chief, Jose Ignacio Lopez de Arriortua. The accusations center on the alleged theft of confidential information when
Automobile industry
The Big Three US automakers - General Motors Corp., Ford Motor Co., and Chrysler Corp. - have joined forces to build a $20-million facility to test a new generation of powdered paints, aiming to reduce air emissions from vehicle painting. The Low Emissions Paint Consortium will operate the pilot facility
Automobile industry
In a significant milestone for the electric vehicle industry, a Geo Metro converted to electricity by Solectria Inc. has completed 214.2 miles without stopping for a battery recharge, shattering previous range records. The car runs on nickel metal hydride batteries, developed by Ovonic Battery, and was driven by James
Automobile industry
Chrysler Corporation, following a string of record earnings and anticipating a strong growth in the North American auto market, has announced a 25-cent quarterly dividend, up from 20 cents, and pledged to fully finance its pension plan by the end of the year. This move marks a significant shift in
Automobile industry
The possibility of creating one of the world's largest multimedia combines is on the horizon as General Motors' Electronic Data Services (EDS) and US telecommunications group Sprint engage in talks about a $30 billion merger. The move is part of GM's plan to spin off
Automobile industry
General Motors reached a deal with the US government to pay $10 billion to replenish its underfunded pension plan. The agreement, made with the Pension Benefit Guaranty Corp, includes a $4 billion cash payment and $6.2 billion in stock. This deal addresses the massive underfunding of GM's
Automobile industry
General Motors Corporation has announced its second round of price increases in as many weeks, this time affecting popular models such as the Chevrolet Camaro sports coupe and the GMC Jimmy compact sport utility vehicle. The price hikes, ranging from $250 to $310, are attributed to the high demand and
Automobile industry
The Australian automotive industry is poised to improve its profitability in 1994, according to the Automotive Industry Authority. Despite a low base, the industry is expected to reap the benefits of restructuring and rationalization efforts, as well as growing car sales and increased exports. Car sales are expected to improve,
Automobile industry
Pent-up demand and rebounding consumer confidence have driven auto sales in Greater Cleveland to surpass early 1993 figures by an average of 20% to 30%. Dealerships are struggling to meet the demand, resorting to calling other dealerships for vehicles that meet customer specifications and experiencing shortages of popular models. Despite
