by Joseph Szczesny | Apr 8, 2009
The German government should not offer Opel, the heart of General Motors’ European operations, any special aid, according to Daimler AG Chief Executive Officer Dieter Zetsche. He made this assertion at the company’s shareholders’ meeting in Berlin....
by Paul A. Eisenstein | Apr 8, 2009
Better late than never, at least as far as Mercedes-Benz is concerned. Though the automaker has been putting most of its emphasis on clean, fuel-efficient diesels, it used the New York International Auto Show as the opportunity to unveil its first high-mileage...
by Paul A. Eisenstein | Apr 8, 2009
Bigger is better, or so goes the traditional automotive mantra. But things are changing in a big way, as more and more of the global population moves back into the cities. Despite the worldwide recession, Daimler’s Smart car factory can barely keep up with...
by Ken Zino | Apr 8, 2009
Every company is looking for the next big thing as traditional SUVs continue to free fall from fashionable shopping lists with sales diving 30% or more this year. There’s a prototype four-door on display at the New York International Auto Show that is looking...
by Ken Zino | Apr 8, 2009
As Chrysler LLC Vice Chairman and President Jim Press stepped out of a Fiat 500 this morning, he quickly said that he wasn’t announcing anything, but the 500 was “making a Camry, err, cameo appearance with us just so you can imagine the possibilities. Take...
by Joseph Szczesny | Apr 8, 2009
Daimler could face a bill for at least $1 billion for pension liabilities and other claims from key suppliers if Chrysler LLC is forced into bankruptcy. Executives from the German automaker told shareholders at the annual meeting that, not surprisingly, they favor a...
by Joseph Szczesny | Apr 8, 2009
“We intend to remain a strong company also in times of weak markets,” said Daimler chief executive Dieter Zetsche. He emphasized at its annual meeting that the company has embarked an extensive effort to reduce costs in every part of the company. However,...
by Paul A. Eisenstein | Apr 8, 2009
Audi will launch its first “clean” diesel, the Q7 TDI, later this month for $50,900, officials have announced, not including destination charges. The Q7 is expected to usher in an assortment of new Audi diesel-powered vehicles, despite growing skepticism...
by Joseph Szczesny | Apr 7, 2009
The old Daimler-Benz and the old DaimlerChrysler had a certain swagger that missing these days at Daimler AG. Certainly the worldwide Great Recession and the collapse of auto markets have spooked carmakers from one end of the globe to the other. After speaking with...
by Paul A. Eisenstein | Apr 7, 2009
Larry Burns is “extraordinarily paranoid,” and he should be. The head of General Motors’ advanced research operations confides that he’s tracking at least 20 potential competitors who could revolutionize the automobile, much the way...
by Ken Zino | Apr 7, 2009
The industry minister for Canada has announced more federal aid of $566 million (U.S.) to guarantee payments to auto suppliers from Chrysler and General Motors if they miss payments or enter some form of structured bankruptcy. Tony Clement also announced today that...
by Joseph Szczesny | Apr 7, 2009
Fisker Automotive Incorporated, which is still scrambling to get its plug-in electric vehicle to market this year, has announced procurement of additional capital from private sources. The fledgling maker of plug-in electric vehicles said that it has entered into...
