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Chevy Spark Confirmed – the Yanks learn little cars!
Tue, 10 Feb 2009All the grief surrounding the big three US makers (less so Ford) revolves around the lack of cars they make that can compete in the world in which we live. No longer, it would seem, are US car buyers prepared to put up with gas-guzzling, low-quality cars. The rise of the Japanese car in the US (Toyota is now the biggest selling car) has put the writing on the wall for years.
News watch October 2012: today's industry news
Wed, 31 Oct 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.
Ferrari looks at layoffs, cuts back production
Wed, 12 May 2010We guess it's not all GTOs and 458 Italias. The word out of Italy is that Ferrari is looking at cutting production and eliminating 9 percent of its workers after sister company Maserati cut engine orders. Ferrari made only about 4,500 engines for Maserati last year, compared with nearly 9,000 in 2008.