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Obama sought Ghosn to run GM, ex-car czar says
Fri, 03 Sep 2010The Obama Administration initially wanted Nissan-Renault CEO Carlos Ghosn to run GM after Rick Wagoner was ousted in 2009, and repeatedly pressed Fiat to put up cash for a stake in Chrysler, according to an upcoming book about the government bailout of General Motors and Chrysler. Steven Rattner, President Obama's auto adviser who steered the government's $85 billion bailout of GM and Chrysler, is about to publish a tell-all account about his six-month stint inside the White House. The Detroit News, Washington Post and Huffington Post obtained draft copies of the book--"Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry." It is scheduled to be published Oct.
New Mercedes CLA helps Daimler to 16% profit jump
Thu, 24 Oct 2013The new Mercedes CLA (pictured) help Mercedes to a 16% profit jump. There’s an argument that the move in to more compact car sales by premium car makers will see their turnover rise and their profits fall as more compact cars tend to work on smaller margins than high-end luxury cars. But Mercedes has defied that logic by posting a 16 per cent increase in profits for the third quarter of 2013, boosted by sales of the new compact coupé – the Mercedes CLA.
Fisker Karma recalled over fire risk
Sun, 19 Aug 2012The Fisker Karma range-extender EV is being recalled over a fire risk from a faulty cooling fan. We’re not sure how many Fisker Karmas there are in the UK (well, there should be at least one), but so far it appears that there are a surprising 1,900 in the wild. Now those 1,900 (or 2,400 if you count all the Karamas built and heading for customers) are to be recalled after fire destroyed two Karmas in the US.