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Chinese bank may join Saab rescue deal
Mon, 05 Dec 2011Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.
UK car production slumps, state help sought
Fri, 21 Nov 2008By Digby Fullam Motor Industry 21 November 2008 14:30 The full effect of the downturn in the global economy is being felt by the UK motor industry, new figures out today reveal. Car production at British factories fell by 29.5% from October 2007's figure. That makes it the worst October production figures since 1991 which, if you’ll cast your mind back, was the last recession. The Society of Motor Manufacturers and Traders blamed the slump on 'a rapid reduction in demand for motor vehicles.' It’s not just us Brits that aren’t buying cars, either.
Ford recalls trucks to fix fuel-tank straps
Mon, 01 Aug 2011Ford is recalling 1.1 million pickups to fix fuel-tank straps that can corrode and possibly break. The recall covers 1997-2003 Ford F-150s, F-250s and the Lincoln Blackwood pickup. The fuel-tank straps could corrode over time, leading to failure and the tank dropping to the pavement.