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Crunch watch Apr 09: the auto industry in crisis
Thu, 30 Apr 2009By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.
Call for reform over road repair funding
Fri, 06 Jun 2014FUNDING patterns mean most road maintenance is being carried out in "less-efficient, cold and wet" times, a report from a Government spending watchdog has said. The current pattern of funding, combined with the need to spend money within the financial year, means that most maintenance work goes on between September and March, said the report from the National Audit Office (NAO). It went on: "Although this is less disruptive for road users, it is less efficient than carrying out the work at other times of year because materials can be more difficult to handle in cold and wet conditions, and daylight hours are shorter." The report went on: "As a result of the additional funding for emergency repairs, which is made available at the end of the financial year, almost all highways authorities need extra capacity from the market at the same time, which makes it less likely that they will get value for money." The NAO report said there was a "lack of predictability" over road spending adding that historically, local highway authorities spent more revenue on maintenance, but were now carrying out fewer routine activities such as clearing gullies which are essential to preventing water seeping into roads' sub-structure.
Bentley sales returned to pre-recession levels in 2011
Tue, 03 Jan 2012The new Continental GTC helped Bentley sales hit highs in 2011 Bentley has seen sales in 2011 return to the levels of 2007, with sales up by 37 percent over 2010. China is now Bentley’s second biggest market. It doesn’t seem five minutes since Bentley were getting their highly skilled workforce to make furniture to keep them busy, so slow were sales as the recession started to bite.