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Ford B-Max set for Geneva 2011
Fri, 10 Dec 2010The Ford B-Max crossover, based on the Iosis Concept (pictured), will debut at Geneva 2011 The Ford Fusion arrived in 2002 as a stretched version of the Ford Fiesta – a mini MPV. And for a while it did pretty well in the sales charts, reaching a peak in 2007 as second only to Vauxhall’s Meriva. But its slide since then has been significant and last year it languished in fifth place with sales of 30,000.
Obama vows to help rebuild industry to compete, win
Wed, 25 Feb 2009President Barack Obama on Tuesday vowed to hold U.S. automakers accountable for "bad practices" but promised to help create a "retooled, re-imagined auto industry." In remarks to a joint session of Congress, Obama gave a sobering assessment of the nation's ills--mainly economic--but said: "We will rebuild, we will recover, and the United States of America will emerge stronger than before." About midway through the speech, the president said: "As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices.
Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.