Auto Economy

EU Approves French State Aid for Bank of Ailing Carmaker Peugeot

Banque PSA Finance is a subsidiary of PSA Peugeot Citroen, which must present restructuring plans for the entire business within the next six months under EU conditions for state aid, the commission said. Its final approval depends on these proposals.


Gov. Brown Commends Deployment of Zero-Emission Vehicles

"These all-electric vehicles remind us that California continues to be a dynamic center of innovation," said Governor Brown.


GM Appoints Executive to Head Troubled Opel Ops

US carmaker General Motors said Thursday it had appointed Karl-Thomas Neumann to head up its struggling European offshoot, Opel.


Pennsylvanians Concerned About Possible Gas Tax Shift

The Quinnipiac University poll shows that 47 percent of Pennsylvania voters oppose lifting the wholesale gas tax cap, while 45 percent support it, to raise up to $2 billion in additional money for transportation needs across the state.


Auto Parts Supplier Plans for Additional 530 Jobs

An automotive parts supplier with a facility in Tecumseh is reportedly planning a major expansion that would add hundreds of jobs to its Michigan workforce.


Court Suspends Peugeot Plans for Factory Closure

Europe's second-biggest carmaker caused dismay in France last year when it announced it would close an assembly plant near Paris in 2014 and cut 8,000 jobs nationwide.


Nissan to Boost Domestic Auto Production in Philippines

Nissan Motor Philippines Inc. (NMPI) is ready to contribute to the advancement of vehicle manufacturing in the Philippines, with the all-new Almera being eyed to have more locally sourced parts.


An Auto Export Oportunity as Thailand Car Sales Hit Record High

Toyota, the traditional market leader in Thailand, sold 516,086 vehicles in the country last year, a 78-per-cent annual increase, and exported 405,892 units from its production units in the kingdom, up 62 per cent.


VW Posts Record Sales Amid Surging Demand from China, US

The German-based group said deliveries of its flagship VW brand jumped by 12.7 per cent last year to hit a record 5.74 million units after they soared alone by 31 per cent in December compared with the same month in 2011.


BMW Posts Record Sales in China

BMW sales to China soared by about 40 per cent in 2012, when compared to 2011, to a record 326,444 vehicles, the German luxury carmaker said Tuesday.


Avis Zooms On Zipcar, Share Trend

Zipcar, with more than 750,000 members, says it's the largest car-sharing network in the world, and Avis Chairman and CEO Ronald Nelson says the purchase will boost the traditional car rental company's growth.


Renault-Nissan and Russian Technologies In Joint Auto Venture

Renault-Nissan Chairman and CEO Carlos Ghosn announced the creation of Alliance Rostec Auto BV today at a ceremony in Moscow.


Honda Takes the Wraps Off Revamped 2013 Civic Sedan

Honda, still bristling from criticism that its 2012 Civic was bland, took the wraps off a complete makeover of its compact on Thursday to show off a new grille, hood, headlights and rear.


Ford Hopes Focus ST's Affordable Power Will Appeal in US

It's the affordable performance car many have been waiting for since the 2010 Paris motor show when Ford unveiled the Focus ST and announced it would be sold in the U.S. in 2012.


VW Reveals First Official Details of New Golf

Volkswagen on Wednesday revealed the first official details of its Golf 7, the upcoming replacement for its signature compact car.


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