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Hyundai rules out separate premium brand
Fri, 01 Apr 2011Hyundai Motor Co. has ruled out spinning off the Genesis or Equus nameplates to create an independent premium brand along the lines of Lexus or Infiniti, partly because of the enormous cost involved and possible image damage to sibling nameplates. "There are no plans for Hyundai to make a separate brand," Vice Chairman Shin Jong-Woon said in an interview Friday at the carmaker's headquarters in Seoul, South Korea.
Fiat taking 35% stake in Chrysler
Tue, 20 Jan 2009Fiat S.p.A. and Chrysler LLC confirmed today that the Italian company intends to acquire an initial 35 percent stake in the U.S. carmaker.
'Phoenix Four' MG Rover directors to be banned
Fri, 11 Sep 2009The 'Phoenix Four': John Towers, Nick Stephenson, Peter Beale and John Edwards. All roundly criticised in today's government report By Tim Pollard Motor Industry 11 September 2009 09:14 The UK Government today said it plans to disqualify the executives who ran MG Rover in the run-up to its collapse in 2005. A report out today from the Department for Business, Innovations and Skills slams the 'Phoenix Four's involvement in the business and is highly critical of the way they withdrew £42 million in salaries and pensions despite the company's parlous financial position.