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News watch October 2011: today's auto industry news
Mon, 31 Oct 2011Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourMonday 31 October 2011• The two companies planning to buy Saab - China's Youngman and Pang Da - have agreed to pay a €50 million bridging loan, court documents show. And they are pledging €610m in long-term funding from 2012, according to ANE (Automotive News Europe) • Martin Winterkorn, the CEO of the Volkswagen group, says he is pleased with the performance of Seat and Skoda.
Toyota uses cash offers in bid to get rolling
Mon, 19 Jan 2009Coming off a sharp sales decline in December, Toyota Division is trying to lure buyers into showrooms with new cash offers for customers and dealers. Even the Prius is getting support, after having been excluded from the brand's lavish incentive program in the last quarter of 2008. Toyota put $750 in dealer cash on the hood of the hybrid car.
Fiat CEO confirms he wants alliance with Opel
Fri, 01 May 2009Fiat S.p.A.'s boss has confirmed that the automaker wants to form an alliance with General Motors' German subsidiary Opel. "Now we have to concentrate on Opel. They are our perfect partner," CEO Sergio Marchionne told Fiat-owned newspaper La Stampa in a story published Friday.