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AUTO INDUSTRY (Last modification: 27/01/09)
The car industry hits the brakes
The auto industry is one of the hardest-hit victims of the global financial crisis. Tens of thousands of jobs are at stake worldwide. Detroit's once-mighty GM is on the brink of collapse, while in France, Renault employees fear job cuts.
AUTO INDUSTRY
GM plans to cut 10,000 jobs at Opel
Struggling US carmaker General Motors delivered a second day of bad news on Wednesday, announcing that it will cut 10,000 jobs at its European division Opel, after the shocking disclosal the day before that it would no longer be selling the brand.
auto industry - Germany
Between East and West, the imbalance persists
FRANCE 24 visits the city of Leipzig, in the former East Germany, where the carmaker BMW employs 4,000 people in its factory. But, two decades after reunification, most factories have disappeared, with consequences for the wider economy.
AUTO INDUSTRY
Germany slams 'unacceptable' GM U-turn on Opel sale
Struggling US carmaker General Motors has announced it will not sell a majority stake in its German-based European division Opel, to the fury and consternation of unions and government ministers concerned about Opel's German workers.
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FORMULA ONE
Toyota latest to pull out of F1 circuit
Japan's Toyota Motor has ended its relatively unsuccessful stint on the Formula One circuit in a bid to slash costs as the company battles to cope with the fallout from the global recession.
AUTO INDUSTRY
GM cancels sale of its European unit Opel
Struggling US carmaker General Motors announced on Tuesday that it has decided to keep its European division Opel, making a U-turn on plans to sell it to Canadian firm Magna after months of talks.
AUTO INDUSTRY
Ford surprises with third quarter net profits of 997 million dollars
Ford posted net profits of 997 million dollars for the third quarter of 2009. It's the automakers’ first quarterly profit since 2008 and is largely due to a drastic cost-cutting policy. The US firm said it was on track to become "solidly profitable."
AUTO INDUSTRY
China's Geely gains Ford's trust in Volvo bid
US car giant Ford has said Chinese carmaker Geely would be considered a preferred bidder for its Swedish brand Volvo.
AUTO INDUSTRY
Low demand sees Honda's profits plunge by more than half
Japan's number two automaker has seen its profit fall to 587 million dollars in September, down 56.2 percent from a year earlier. Honda blamed poor demand but is nevertheless expecting a net profit for the year to March 2010.
AUTO INDUSTRY
EU has doubts over German aid to buy Opel
According to the European Commission, German aid for the current bid to buy Opel could breach EU competition rules.
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