Breaking News

TOOLS PRINT EMAIL European Auto Companies Need a Bailout Too By Ross Edwards Friday, 21 November 2008 05:21 American carmakers aren’t the only ones hurting during this financial crisis. In Europe, car sales have plummeted and auto companies there are in danger of running out of money. European automakers have asked the European Union for 40 billion euros, which is about 50.5 billion U.S. dollars, to help them stay in business during the coming months. PSA Peugeot-Citroen, the second largest European carmaker behind Volkswagen, announced it would cut 3,550 jobs in France in the near future. Peugeot-Citroen has already cut 7,400 jobs in 2008. The company says it expects sales to drop at least 10% next year, according to Reuters and USA Today. Opel, a European brand owned by GM, is pleading for aid from the German government. Ford, GM and Nissan have all recently announced plans to cut European production.

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December and 2008 Sales Figures Are In, and They're Exactly What We Expected
The year was dismal for most automakers, with sales plunging by double digits for a lot of companies. So far (not all automakers have reported 2008 sa ... Read More

Isuzu Throws In the Towel
If you were planning to buy a new Isuzu, this is your last chance. The company has announced that on January 31, it will stop selling its light-d ... Read More

GMAC No Longer Exclusive GM Lender
GMAC has lost its exclusive rights to offer low-interest loans to customers who want to purchase GM vehicles. The loss is part of GMAC’s fe ... Read More

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