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Despite a plan for a financial turnaround by 2015, PSA projected a cash burn rate as much as 1.5 billion euros for 2013. Meanwhile, PSA’s finance arm had their bonds downgraded to junk status.
The downgrading of Banque PSA’s bonds by Standard & Poor’s is yet another blow for the French automaker, which reported record losses this week. One positive development for PSA was a labor agreement with workers at the troubled Aulnay plant, which allowed PSA to start winding down product…
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G.M. said it had net income of $900 million in the fourth quarter, compared with $500 million in the same period a year earlier.
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Despite a number of hopeful notes in the continuing turnaround at General Motors, the automaker’s North American ops are still dealing with the same problems.
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Despite a number of hopeful notes in the continuing turnaround at General Motors, the automaker’s North American ops are still dealing with the same problems.
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Dark city streets reflecting the bright colors of traffic lights and glowing skyscrapers off of the blacktop, driving through downtown towards some of the urban back roads. Under the overpasses onto the outskirts of the skyline. When I think of the modern Nissan Z, this is its territory… a proper backdrop to scare off some midnight 4 banger drivers. It was, and still is, one of the most popular imports for modifying. Since 2003 when the 350Z came out, it was a new animal. Modern, and s…
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Automobile Magazine received the scoop on some details surrounding some the future of Cadillac’s lineup while attending the 2013 Detroit Auto Show. The print outlet sat down with Cadillac’s Robert Ferguson, the maker’s global brand chief, for a nicely detailed interview as to what we can expect from America’s top brass in the next coming months.
Ferguson explained to Automobile that we can potentially expect a coupe addition to the ATS’ lineup.
“Our initial plans for ATS that you describe are…
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After Friday’s car inspections at the Heaps In the Heart of Texas 24 Hours of LeMons, the smart money said that the Hell’s Treehuggers Toyo-Davidson would blow up within seconds of going “potato-potato-potato” onto the race track. You know what? The smart money also says that Nissan Z Cars fall apart on race tracks, and the end of the first day of racing shows the Back To The Past 300ZX leading the field… and the Harley-Davidson Sportster-powered Prius still in working order.
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In the game of U.S. luxury-car sales, Jaguar isn’t even on the sidelines. It’s behind the bench, next to the water cooler, and maybe lying down because it ate something funny. Frankly, the brand gets its butt kicked over here, moving just 5 percent of what either BMW or Mercedes sells and doing only 10 percent of Audi’s volume. Jaguar—the entire brand—is outsold by both the Porsche Cayenne and Lexus’s CT200h hybrid hatchback. (The CT200h, people—you probably forgot that car even exists.) R…
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Chrysler takes minivans very seriously – and they should since the segment rescued the automaker from the brink of collapse in 1983 and continued to bring in million in profits by leading the market for decades in a segment that surpassed 1 million units for 12 years.
A new report by the Detroit Free Press says that t…
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Here’s yet another set of wheels Americans can’t have – the 2014 Audi RS6 Avant. The automaker has just released details and photos of its hot new wagon, which will produce 552 hp and 516 lb-ft of torque from a 4.0-liter twin-turbo V-8. The new eight-cylinder has already made its way into a number of [...]
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