China News

Chrysler IPO may value automaker at $8 bln

Nov 06,2009

Chrysler Group LLC, the U.S. car company run by Fiat SpA, may have an equity value of as much as $8 billion if it sells shares to the public in two years, Citigroup Inc. said. Analysts led by John ...

• Volvo Cars gains market share after 'the darkness'   [Nov 07, 2009]

  Volvo Cars, the Swedish automaker that Geely Holding Group Co. wants to buy from Ford Motor Co., is gaining market share as the industry shows signs of recovering from the global recession. "We stood ...

• Audi expects 2009 sales to exceed 920,000 vehicles   [Nov 07, 2009]

  Volkswagen's premium brand Audi expects its vehicle sales to fall less than previously thought to over 920,000 vehicles this year, Audi sales chief Peter Schwarzenbauer told a German newspaper."The ...

• Mercedes-Benz Oct sales up 4.1% to 97,700 vehicles   [Nov 07, 2009]

  Daimler AG said Friday that sales at its core Mercedes-Benz Cars division rose 4.1% on the year in October to 97,700 vehicles, marking the first monthly increase in 2009. "We will continue this ...

• Magna focusing on core business after Opel saga   [Nov 06, 2009]

  Magna International Inc is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co's European operations, the auto parts maker's co-CEO, ...

• Kia Motors aims for 17% U.S. sales growth in 2010   [Nov 06, 2009]

  Kia Motors Corp., South Korea's second-biggest carmaker, aims to increase U.S. sales as much as 17 percent next year as it rolls out new models and predicts a recovery in industrywide demand. The ...

• Renault, Nissan to form car battery JV with French state   [Nov 06, 2009]

  Renault SA and alliance partner Nissan Motor Co. will develop and make electric-car batteries in a French government-backed joint venture with the country's CEA energy research agency. The FSI ...

• Obama to push S. Korea to allow more U.S. autos   [Nov 06, 2009]

  The Obama administration, backing a request by Ford Motor Co., said South Korea should "level the playing field" by removing barriers to U.S. automobile sales in order to clear the way for a pending ...

• GM criticized for keeping Opel, doubts raised about sale   [Nov 05, 2009]

  As General Motors' new board of directors became more immersed in the automaker's business, it began to question more and more the idea of selling off a majority stake in the company's Opel division, ...

• Chrysler puts motorsports program under review   [Nov 05, 2009]

  Chrysler has put its motorsports program, which includes NASCAR, under review as part of a restructuring announced on Wednesday, but does not plan to cut spending at this time."We're going to be more ...

• Toyota pulls out of Formula One racing to cut costs   [Nov 05, 2009]

  Toyota is pulling out of Formula One racing.The world's largest automaker announced Wednesday it needs to cut costs and focus on its core business."Based on the current economic environment, we ...

• Tata plans 25,000 Jaguar XJs a year, rivaling BMW   [Nov 05, 2009]

  Tata Motors Ltd. will build as many as 25,000 Jaguar XJ luxury cars annually starting next quarter in a bid to take customers from Bayerische Motoren Werke AG's 7 Series and Daimler AG's Mercedes S ...

• 

  BMW profit drops 74% as recession saps luxury sales   [Nov 05, 2009]

  Bayerische Motoren Werke AG, the world's largest maker of luxury cars, reported a 74 percent plunge in third-quarter profit as the recession sapped demand for higher-priced models. BMW declined the ...