Auto Industry | featured news

French automaker PSA Peugeot Citroen announced 8,000 job cuts and the closure of an assembly plant as it struggles with mounting losses, in a move that could hasten a wave of restructuring in western Europe.

Across the country, banks and other lenders are still being stingy in providing credit to ordinary consumers. Only the most financially stable of Americans can secure mortgages. Small businesses are having trouble getting loans. Credit card access is restricted.

The United States has filed a trade complaint against China for imposing duties on U.S.-made autos, the World Trade Organization (WTO) said on Thursday.

General Motors and Chrysler reported double-digit sales of new vehicles, while Ford’s rose 7 percent. Toyota sales were up 60 percent.

Japan's auto sales in June were up 41% from a year earlier as consumers rushed to collect government incentives before the money runs out.

It's a make or break moment for electric car maker Tesla Motors. Tesla has lost nearly $1 billion selling high-end electric sports cars to the likes of George Clooney. Now it's going to attempt to sell them to the rest of us - and try to make money doing so.

BMW and Volkswagen's Audi brand said their monthly sales rose to records in May, putting the two best-selling luxury-car makers on course for another bumper year.

Romney’s remarks make little sense. Not only is his claim of creating 100,000 jobs at Bain untenable, but also his assertion that 100,000 jobs have been lost in the auto industry “on the president’s watch” does not add up. Yes, there were some painful cuts in the auto industry at the start of Obama’s presidency, largely because tough choices had to be made. One could argue whether those choices were necessary or effective, but the bottom line is clear: No matter how you slice it, jobs overall have grown substantially in the auto industry under Obama. In fact, it is one of the bright spots of today’s economy.

General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public, with a source familiar with the matter saying the automaker had decided Facebook's ads had little impact on consumers.

Chinese motor-vehicle dealer China Yongda Automobiles Services Holdings plans to raise up to $433 million in an initial public offering ahead of its listing in Hong Kong on May 30, people familiar with the situation said.