Volkswagen has signed an agreement of intent to buy a substantial stake in the manufacturing division of Malaysia’s state-owned Proton Holdings. An official statement is due on February 8th, but was leaked from an inside source. Volkswagen is expected to take a 51 percent stake in Proton, giving the German automaker control over its operations.
It […]

Porsche has officially refuted the claim by B&D Forecast that the German sports car maker averages $28,000 in profit on every vehicle it sells. Porsche said B&D Forecast’s figure was derived by dividing the company’s $2.7 billion profit, which includes one-time income not related to car sales, by the 96,794 vehicles sold in 2005.
“The calculation […]

Ford Motor Co. today announced a staggering $5.8 billion loss in the fourth quarter amid slumping sales, especially for its high profit full-size trucks and SUVs, and huge restructuring costs for its North American automotive operations. The fourth quarter loss pushed the automaker’s loss for the year to $12.7 billion, its largest loss in its […]

While Ford doesn’t break out Jaguar’s financials, the Detroit News is reporting that Jaguar lost more than $715 million in 2006. Internal analysts expect Jaguar to lose another $550 million this year, $300 million in 2008, and will not return a profit for the next several years.
Jaguar finally seems to have a realistic turnaround strategy, […]

According to a new study, German sports car maker Porsche is far and away the world’s most profitable car manufacturer per vehicle. The study shows that Porsche earns an average of €21,799 (about $28,000) in profit before taxes for every vehicle it sells. The figure is far ahead of any other automaker in the study […]

Ford CEO Alan Mulally said that the automaker is ahead of schedule on reducing costs, including plant closures and job cuts.
“I would characterize that we are ahead of schedule on the restructuring,” Mulally said last week during a presentation to analysts. “Our No. 1 priority is to restructure ourselves.”
Ford lost $7 billion in the first […]

Nissan Motor Co. COO Toshiyuki Shiga has said that the automaker will cut back on its factory incentives in 2007. With an increase in incentives more than any other automaker in 2006 (up 30% to an average of $2,314 per vehicle), Nissan will be willing to forego some sales to increase profit.
With Nissan’s new Altima, […]

Despite a legal fight between Ford Motor Co. and engine maker International Truck and Engine Corp., the automaker’s 2008 Ford Super Duty pickups are expected to arrive at dealership on time this spring.
Ford’s lawsuit says International has threatened to stop shipments of the new 6.4L Power Stroke engine, which would likely have an impact […]

Toyota is considering adding as many as five assembly plants in North America over the next 10 years, according to insiders familiar with the plans. According to the anonymous sources, since the plans are not public yet, Toyota will build at least one factory in the southeastern U.S. and one in Mexico.
The additional plants would […]

When Chrysler first confirmed that it was seeking a partner to build a small B-segment car for the United States, consensus was that the vehicle would be a production version of the well received Dodge Hornet concept that was unveiled at the 2006 Geneva Motor Show. Following the news of the preliminary agreement between Chrysler […]