Transportation equipment industry
John Elway, the Denver Broncos quarterback and entrepreneur, has seen his business empire expand with the announcement that Republic Industries, a retailing giant, will allow him to sell his Federal Heights Honda store. This move comes as Republic Industry's chairman, Wayne Huizenga, unveiled plans to change the way
Transportation equipment industry
Two major automobile manufacturers, American Honda Co. Inc. and Ford Motor Co., have agreed to pay a combined $15.1 million in civil penalties and spend $9.8 million on environmental projects to settle emission-control violations uncovered by the Justice Department and EPA lawyers. Honda will pay $12.6 million
Transportation equipment industry
Rolls-Royce, the luxury car company, is at the center of a bidding war between Volkswagen and BMW, with a new group of bidders, Crewe Motors, launching a bid to outbid Volkswagen's £430m offer. The group, led by barrister Michael Shrimpton, claims to have backing from customers around the
Transportation equipment industry
A consortium of Rolls-Royce and Bentley enthusiasts, led by Michael Shrimpton, is launching an eleventh-hour bid to keep the car manufacturer under British ownership. With just four days left before shareholders decide the fate of Rolls-Royce Motor Cars, the group is prepared to outbid Volkswagen's offer of $430
Transportation equipment industry
Honda is responding to a surge in demand for its vehicles by importing up to 60,000 Japan-built Accords and diverting 60,000 fewer Accords from its Ohio plant to Japan. Meanwhile, despite federal regulations allowing the installation of air bag cutoff switches, many dealerships are refusing to perform the
Transportation equipment industry
Volkswagen is on the cusp of acquiring Rolls-Royce and has expressed its intention to expand Cosworth's operations, which have become crucial in the sale of Rolls-Royce. Ford, a close associate of Cosworth's engine division, has expressed concerns about Volkswagen's plans and has sought clarification
Transportation equipment industry
BMW's new Le Mans car is a highly advanced, open-topped, two-seater that competes in the prototype category. The car's chassis is being built in Britain in conjunction with Williams, while its 6.0-litre V12 engine is being prepared in Munich. The engine is a development of
Transportation equipment industry
BMW has threatened to develop its own luxury car if it fails to win the battle for Rolls-Royce, with plans to use its Warwick subsidiary and Hams Hall factory to spearhead the project. The company sees a market for a British-style chauffeur-driven limousine to compete with Rolls-Royce, but the idea
Transportation equipment industry
The car industry has joined the growing trend of mega-mergers, with Daimler-Benz acquiring Chrysler in a $64 billion deal, and Rolls-Royce parent company Vickers Plc being acquired by Volkswagen. This move has sparked speculation of a new world order in manufacturing and service industries, where corporate giants become even bigger
Transportation equipment industry
Daimler-Benz, a German multinational corporation, is reportedly planning to acquire Nissan Diesel, Japan's second-largest truck maker, in a move to expand its presence in Asia. This development comes as part of a wave of consolidation in the automotive industry, following the recent merger between Daimler-Benz and Chrysler. The
Transportation equipment industry
As the largest industrial merger in history between Daimler-Benz AG and Chrysler Corp. takes shape, Daimler chairman Juergen Schrempp has hinted that the company may abandon its minivan development program in favor of a joint venture with Chrysler. The move would likely see the demise of the Mercedes-Benz minivan, with
Transportation equipment industry
Daimler-Benz's chairman, Jurgen Schrempp, has ambitious plans to expand the company's sales to DM250 billion by 2007, a goal met with skepticism by some. The admission of merger talks with Chrysler, a US-based company, has come as a surprise to many, with Daimler-Benz's market
