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Lotus NOT for sale as Proton sold to DRB-Hicom

Lotus NOT for sale - at least not for two years Despite rumours that Lotus was for sale, the sale of Lotus parent Proton to DRB-Hicom appears to preclude any sale of Lotus for two years. We reported recently that Lotus owners Proton had been advised to sell its loss-making Hethel car-maker Lotus as it geared up to be divested of State ownership in Malaysia. But it seems the sale of Proton in to private hands is to have the opposite effect.

Japan automakers extend shutdowns as quake impact widens

Japan's seven big automakers are extending nationwide production shutdowns amid growing concern about supply chain interruptions, power shortages and export difficulties following the massive earthquake and tsunami that hammered northern Japan, killing thousands. Toyota Motor Corp., one of the few automakers with a major manufacturing presence in the quake zone, suspended all manufacturing--at both assembly and parts plants--on Monday and extended the shutdown through at least Wednesday as an added precaution. The company will lose output of roughly 40,000 vehicles over the three-day period, spokesman Dion Corbett said.

D-day for General Motors: GM files for bankruptcy

By Tim Pollard Motor Industry 02 June 2009 06:57 General Motors today faces the humiliation of collapsing into bankruptcy. It marks the 1 June deadline imposed by US president Barack Obama for the General to sort out its business – or seek protection from creditors in the bankruptcy courts. As we’re all too painfully aware, GM has been unable to perform miracles, triggering one of the greatest industrial collapses seen in American corporate history.