Mazda plans to raise $2.1 billion to shore up its finances and invest in a new plant in Mexico, financial sources said today -- a bigger-than-expected fund-raising effort that sent its shares tumbling 10 percent.
Six-cylinder vs. Hemi V-8: How fast is fast? You might be surprised by the results of a 0-60 mph shootout. The Michigan State Police this month released results of its annual police car test, which includes Chevrolet, Ford and Dodge vehicles.
Ohio-based supplier Dana Holding posted a quarterly profit, helped by lower expenses, and said its Chief Financial Officer James Yost will step down in March. The company said it replaced Yost with former Visteon Corp. CFO William Quigley.
Let the campaigning begin. A bipartisan group of senators sent a letter last week to the federal government’s top auto industry regulators letting the regulators know that the senators endorse the administration’s proposed new corporate average fuel economy standards.
A marketing dogfight has raged for decades among domestic pickup truck makers, where sniping at the competition has been a puerile pastime. But the jabs seem to be coming faster and harder of late, as rivals Chevy and Ram beat up on Ford.
A high-ranking engineer who oversees development of Chrysler Group's lineup of SUVs has been given the 2012 Black Engineer of the Year President's Award by Black Engineer and Information Technology magazine.
German supplier Continental plans to pay its first dividend in four years after posting a gain in 2011 profit. The company said the payout of 1.50 euros, will amount in total to about 300 million euros or 24 percent of net income.
China is clamping down on overcapacity in the world's biggest automobile market, benefiting companies with entrenched production and sales, such as General Motors, while hurting newcomers to the market. GM plans to double sales in the country to 5 million units by 2015.
Tata Motors will double investments in its Jaguar Land Rover brands to $2.4 billion a year, even as the Indian automaker warned that it will be a challenge to sustain high margins at its key profit generator.
American drivers are holding on to their new vehicles longer than ever -- to nearly six years -- a new study says. Research firm Polk, citing data compiled in September 2011, said U.S. consumers kept their new vehicles an average of 71.4 months -- up 4.7 months from March.
Volvo Cars will form a carmaking venture with majority shareholder Zhejiang Geely Holding Group, as part of plans to expand in the world's largest vehicle market. Volvo will also introduce a new China-only brand.