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Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

Aston to build cars abroad

By Ben Oliver Motor Industry 03 March 2008 23:05 Aston Martin is to manufacture a major model outside the UK for the first time, CAR Online can exclusively reveal. The iconic British car maker will use the Geneva Motor Show to announce that its new Rapide four-door coupe will be built in Austria by Magna Steyr.The firm’s Graz factory is expected to build up to 3000 Rapides each year, with deliveries starting in early 2010. As with all Aston Martin engines, the £200,000 Rapide’s 6.0-litre V12 will be built in Cologne.

Scrappage Kicks in – UK sales improve in June

The Ford Fiesta was the best selling car in the UK in June The sales figures for June sales have just been released, and the decline in sales is the lowest for a year – down 15.7%. And it’s the Eco cars that are the big winners. Ford was top of the heap with 29,803 sales.