Car Manufacturers

Fiat raising US$10b for full move on Chrysler

Sergio Marchionne, Fiat and Chrysler chief executive

Fiat is in talks for as much as US$10 billion in financing from a pool of banks to buy the Chrysler stake it doesn't own and refinance the two firms' debt, people familiar with the matter said.

Friday, 31 May, 2013, 4:41am

Ford to close plants as Australian dollar hits sales

The Ford closures will see 1,200 employees lose their jobs.

Ford Australia faces costs double those in Europe and four times those of its Asian divisions, its local president Bob Graziano said yesterday as he announced the loss of 1,200 jobs from October 2016 at two plants in Melbourne and Geelong.

8 May 2015 - 4:37pm

Guangzhou Automobile shares jump 7pc on rebound in sales

Subsidies for electric vehicles are expected to be continued.

The carmaker told the Shanghai stock exchange it planned to spend 2.85 billion yuan (HK$3.6 billion) over the next few years to boost production and develop new models for the domestic market.

23 May 2013 - 4:27am

Mando China eases price squeeze in suppliers deal

Automation is a key costs lever at Mando China. Photo: Bloomberg

Car parts maker Mando China, which is launching its initial public offering in Hong Kong, plans to offset the downward pressure on the selling prices of its major products by shifting some of its costs to raw material suppliers and speeding up automated production.

20 May 2013 - 4:18am

Audi leaves luxury rivals trailing in China sales

An Audi RS7 gets plenty of attention at the Shanghai car show last month. Audi's China sales rose 13 per cent for the month. Photo: AFP

Audi deliveries rose 13 per cent to 38,710 vehicles on the mainland and in Hong Kong in April, the company said on its website. Bayerische Motoren Werke, the world's largest luxury carmaker, reported an 11 per cent gain to 30,311 units in China, the firm said on its website. Daimler's Mercedes-Benz said sales increased 11 per cent to 16,241 units on the mainland and in Hong Kong.

16 May 2013 - 4:38am

Communist Party probes Jilin carmaker's missing billions

Cars in Tianjin that are distributed by FAW. Photo: Xinhua

More than 100 senior managers at one of the mainland's leading carmakers, the First Automobile Works Group (FAW), have been questioned, and some have been detained, by Communist Party investigators looking into missing company assets, according to a report by the 21st Century Business Herald.

11 Apr 2013 - 5:44am

Long-standing myth of double standards haunts multinationals

Volkswagen was forced to announce a recall of more than 380,000 vehicles in mainland.

A long-standing myth among mainlanders holds that Japanese car makers have secretly maintained three quality standards - the cars sold in Japan have the highest quality, followed by those in the United States and Europe, where the protection of consumer rights is strict, and that those sold in the developing countries including China receive less quality control but fetch higher prices because of strong demand and lax regulation.

25 Mar 2013 - 11:57am 6 comments

VW faces US$600m bill over recall

A Volkswagen Passat drives along a busy street in downtown Shanghai. Photo: Reuters

Volkswagen recalled almost 400,000 vehicles on the mainland to replace defective gearboxes that may result in loss of power, in a move that may cost Europe's largest carmaker more than US$600 million.

21 Mar 2013 - 5:07am

New order at the top of Toyota

Toyota is reorganising its car business into four units to speed up decision-making, with one division focusing on its luxury Lexus vehicles. Photo: Reuters

Toyota Motor president Akio Toyoda overhauled his top management for the second consecutive year, strengthening his control over the world's largest carmaker to vie with General Motors and Volkswagen.

8 May 2015 - 4:41pm

Talking Points

Chu Wai-wing

A 77-year-old repairman is sentenced for breaching building regulations while working on a To Kwa Wan tenement which later collapsed, killing four people. 

6 Mar 2013 - 2:51am

Business Digest, February 14, 2013

Peugeot Citroen posts first loss in 3 years

Bank of England governor Mervyn King said Britain faced more inflation and a muted economic recovery. "Inflation is likely to rise further in the near term and may remain above the 2 per cent target for the next two years," King said. 

14 Feb 2013 - 4:53am

Industry shake-up may see GM acquire ailing plants in China

A General Motors car being assembled at a plant in Shanghai. GM is targeting sales of five million vehicles by 2015. Photo: Bloomberg

GM, already the top foreign carmaker in China, aims to increase sales by about 75 per cent by 2015 to five million units, and a deal with another carmaker was one possible way its ventures could expand, said the people, who did not want to be identified because the plans are private.

7 Feb 2013 - 5:16am

Business Digest, February 1, 2013

German carmaker Daimler is planning to buy a 10-20 per cent stake in the passenger car unit of its Chinese partner BAIC Group.

German carmaker Daimler is planning to buy a 10-20 per cent stake in the passenger car unit of its Chinese partner BAIC Group.

1 Feb 2013 - 5:22am

Toyota to spice up old Corolla to keep market lead

The Corolla's success will help determine Toyota's ability to return to the profitability it had before the global financial crisis. Photo: EPA

Later this year - it has not said when or where - Toyota plans to introduce a revamped version of its global best-seller, which last underwent a redesign in 2008.

31 Jan 2013 - 5:20am

Briefs, January 18, 2013

Daimler will sell a limited edition of its Smart city car through Sina Weibo.

The Australian Competition and Consumer Commission gave Qantas and Emirates Airlines permission to launch their global alliance, although final approval is still pending. It said practical sales, marketing and other steps could now start.

18 Jan 2013 - 5:27am