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A Chrysler LLC executive said the company's proposed partnership with Italian car maker Fiat S.p.A. hinges on the government's reaction to its business plan. The federal government loaned Chrysler $4 billion in December. But the government can call
As another member of Congress expressed concerns Thursday over a proposed alliance between Chrysler LLC and Italian automaker Fiat, Sergio Marchionne, CEO of Fiat, emphasized that he does not want to run Chrysler LLC. With Fiat's help, however,
French-Romanian carmaker Dacia has announced it will keep its factory in Romania closed for a month, cut production, and make layoffs due to a sharp drop in car sales, as the global economic crisis bites...Jan. 11 comes after the company owned by
A fresh round of job cuts at Peugeot Citroen underscored the auto sector's woes on Thursday as French President Nicolas Sarkozy vowed help for the struggling industry. A 2 billion euros ($2.5 billion) rescue package for the industry is planned by the
Romania — The Romanian government will suspend a tax on new cars to protect jobs in the auto industry, which has been hit by the world economic crisis, Prime Minister Calin Popescu Tariceanu said Wednesday. Tariceanu said the government will ask the
I remember the first radio I bought, from The Wiz, an electronics store in downtown Brooklyn. A high school freshman at the time, I made my selection and left a down payment. I paid some more a couple of weeks later, and brought my purchase home a
Carmakers sold 98,900 units in October in the local market, lower than 105,877 units sold a year earlier. Top carmaker Maruti Suzuki, majority owned by Japan's Suzuki Motor Corp, sold 59,127 cars, 8 per cent fewer than a year ago. Sales of trucks and
The unemployment rate fell in October to 7.2 percent from 7.4 percent in September, with 26,000 fewer people registered as seeking work in the biggest European economy. A total of 2,997,000 people were listed on unemployment rolls the agency said.
General Motors has reported a three month net loss of $15.5bn (£7.8bn) as North American sales fell by 20%. GM took a $3.3bn charge for buying out the contracts of 19,000 hourly workers who left at the end of June.