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Nissan to slash jobs, production after forecasting $2.9 billion loss
Mon, 09 Feb 2009Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.
World Car Design of the Year 2014 award shortlist revealed
Wed, 12 Feb 2014The BMW i3 and Volkswagen XL1 are amongst the contenders for the World Car Design of the Year award as the top 10 finalists in each category of the tenth annual World Car Awards are announced. The full shortlist of nominees for the 2014 World Car Design of the Year Award are: BMW i3; Cadillac CTS; Citröen C4 Picasso; Lexus IS; Mazda3; Mercedes-Benz C-Class; Volkswagen XLR1; Cadillac ELR; Range Rover Sport and Volkswagen XL1. As in previous years for the World Car Design of the Year award, a panel of five design experts reviews all candidates before writing up recommendations for the jury of 69 international automotive journalists to consider.
Obama vows to help rebuild industry to compete, win
Wed, 25 Feb 2009President Barack Obama on Tuesday vowed to hold U.S. automakers accountable for "bad practices" but promised to help create a "retooled, re-imagined auto industry." In remarks to a joint session of Congress, Obama gave a sobering assessment of the nation's ills--mainly economic--but said: "We will rebuild, we will recover, and the United States of America will emerge stronger than before." About midway through the speech, the president said: "As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices.