Canadian supplier Magna International and an unnamed private equity group have placed a bid for the Chrysler Group, according to KeyBanc Capital Markets analyst Brett Hoselton. The bid for Chrysler is worth approximately $4.7 billion. Given most analysts stating that Chrysler is worth anywhere from nothing to around $13 billion, the offer may not be […]

Following the unveiling of its M3 Concept at the Geneva Motor Show, BMW has revealed details of the M3’s new V8 powerplant. The first eight-cylinder for the BMW M3 will deliver 420-hp from just 4.0L.
Not only is the new V8 more powerful than the outgoing inline 6 cylinder, it is also lighter than the previous […]

Honda has said that it will recall about 165,000 2005-06 model year vehicles in the United States to fix a potential engine problem. The vehicles being recalled include 2005 models of the Acura RL, TL and TSX sedans, 2005 Honda Accord coupes, sedans and hybrids, 2005 Odyssey minivans and 2006 Ridgeline trucks.
The U.S. receal is […]

Last week, Hyundai announced it would add a second engine plant at its assembly facility in Montgomery, Alabama, but there was no announcement what the engine plant would produce. With the current engine plant in Montgomery building Hyundai’s V6 used in the Sonata and Santa Fe, we figured the plant would produce four-cylinder engines. Sixty […]

Carlos Ghosn, CEO of Nissan Motor and Renault, will give up some control at the automaker’s American operations. Ghosn will no longer have direct oversight of Nissan’s operations in North and South America, and will turn his focus to Nissan’s and Renault’s global operations. Effective April 1, Hiroto Saikawa will replace Ghosn as Nissan’s chairman […]

Cerberus Capital Management, one of the two leading contenders to buy the Chrysler Group, has hired former Chrysler COO Wolfgang Bernhard as a consultant. Cerberus and private equity firm Blackstone Group have emerged as front runners in the bids for Chrysler.
As a former executive at Chrysler, Bernhard was one of the primary architects of Chrysler’s […]

BMW CEO Norbert Reithofer announced that the automaker will continue its new product initiative with the X6 crossover. The X6 crossover will begin production in 2008 at the company’s assembly plant in Spartanburg, South Carolina. The X6 is a spin-off of the X5 SAV that will seat four and feature a coupe-like body. The X6 […]

MINI revealed that its new extended model would be called the “MINI Clubman” at last week’s Geneva Motor Show. The Clubman is inspired by the MINI Concept that debuted at the 2005 Frankfurt Motor Show, which was in-turn inspired by the successful Morris Mini Traveller of the 1960s.
The new MINI Clubman will debut at the […]

Hyundai has announced that it will build a new engine plant at its Montgomery, Alabama assembly plant. The new plant will begin engine production in September 2008 and will cost around $270 million. The new engine plant will add 520 jobs to the Montgomery assembly plant. The engines from the plant will be used in […]