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VW unveils big spending plan

Business | Automobile
2011-9-17

VOLKSWAGEN AG will invest a record 62.4 billion euros (US$86.1 billion) over the next five years to underpin its goal of becoming the world's largest carmaker. The supervisory board voted yesterday to approve...

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Subsidy scheme sets tougher standards

Business | Automobile
2011-9-17

CHINA has introduced a more stringent standard for the subsidy scheme for fuel-efficient carmakers in a bid to encourage industrial restructuring. Carmakers will be able to receive subsidy of 3,000 yuan (US$469)...

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Carmakers bank on clean and small

Business | Automobile
2011-9-14

THE world's carmakers sought to look past economic worries in Europe and the United States at the Frankfurt auto show yesterday, with many betting on cleaner, smaller, high-mileage vehicles aimed at evolving consumer...

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Saab to appeal

Business | Automobile
2011-9-10

AILING Swedish carmaker Saab will appeal by Monday against a court rejection of its filing for creditor protection, Victor Muller, chief executive of Saab's owner Swedish Automobile, said yesterday. Saab had hoped...

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VW-Porsche merger

Business | Automobile
2011-9-10

VOLKSWAGEN AG has said it would delay a merger with Porsche Automobil Holding SE beyond 2011 because of legal issues and examine other ways of creating an integrated auto group. Porsche and Volkswagen agreed in...

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Car sales accelerate by 4.1%

Business | Automobile
2011-9-10

GROWTH in China's auto sales picked up in August as automakers offered more price cuts to boost demand, the China Association of Automobile Manufacturers said yesterday. Vehicle deliveries grew to 1.38 million...

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Court rejects Saab's petition

Business | Automobile
2011-9-9

A Swedish court yesterday rejected carmaker Saab's application for creditor protection, paving the way for possible bankruptcy filings from labor unions within days. The ruling by the Vanersborg District Court...

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Pang Da's Shares Tumble On Saab's Bankruptcy Move

Business | Automobile
2011-9-9

SHARES of China's Pang Da Automobile Trade Co fell yesterday as the cash-starved Swedish carmaker Saab, which the Chinese company plans to invest in, filed for bankruptcy protection on Wednesday. "Investors are...

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India welcomes new Mercedes

Business | Automobile
2011-9-8

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Saab drives into bankruptcy

Business | Automobile
2011-9-8

THE owner of cash-strapped carmaker Saab filed for bankruptcy protection yesterday in a last-ditch attempt to salvage a brand crippled by production stoppages, withheld salary payments and mounting debt. Swedish...

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New models boost auto sales

Business | Automobile
2011-9-8

CHINA'S passenger car sales rose 3.3 percent in August from a year earlier after manufacturers launched new models to lure consumers back to showrooms. Domestic carmakers sold a total of 1.04 million units, including...

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Tire maker bounces on deal

Business | Automobile
2011-9-8

SHARES of Double Coin Holdings Ltd rose by its daily limit yesterday after the Chinese tire maker said it brought French giant Michelin in as a strategic investor. Michelin will invest 666.7 million yuan (US$104...

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All hands for Ford's 2nd India plant

Business | Automobile
2011-9-6

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New auto subsidy lifts threshold

Business | Automobile
2011-9-6

CHINA will introduce a new subsidy scheme that will raise the threshold for carmakers qualifying for incentives for energy-efficient vehicles as the government bids to encourage industrial restructuring among the manufacturers. ...

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China's auto sales set to slow

Business | Automobile
2011-9-5

GROWTH in China's auto sales will slow to 3 percent to 5 percent this year after government incentives that boosted deliveries in 2010 were removed, according to a senior official at the State Information Center. ...