Automobile industry
The Chrysler Corporation announced plans to spend $1.8 billion over three years to increase its manufacturing capacity by 17 percent, in anticipation of rising vehicle sales, particularly of sport-utility vehicles, pickup trucks, and mini-vans. The move is expected to generate up to 6,000 new jobs in the United
Automobile industry
As tensions between Japan and the United States intensify over trade policies, Japanese automaker Toyota Motor Corp. has announced a voluntary target plan to purchase parts worth $6 billion for fiscal 1996. Chrysler Corp., one of the Big Three U.S. automakers, has capitalized on this shift in policy by
Automobiles
Honda Motor Co. expressed disappointment with British Aerospace's (BaE) intention to sell its 80 percent stake in the Rover group to German carmaker BMW, citing concerns over the future of the British company's independence. Honda President Nobuhiko Kawamoto stated that BaE's decision undermines the
Automobiles
British Aerospace's sale of its 80 percent stake in Rover Group to BMW has brought an end to British-owned mass auto production. The $1.2 billion deal, worth five times the initial purchase price, makes BMW the new owner of Rover Group, which produces four-wheel drive vehicles, sports
