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Seat names its new Exeo flagship
Mon, 23 Jun 2008By Ben Whitworth Motor Industry 23 June 2008 14:34 Seat's new Mondeo rival – due for a 2009 debut – will be called Exeo. Pronounced ‘ex-ay-oh’ (derived from the Latin exire, meaning ‘to go beyond’ and breaking away from Seat’s city-based nomenclature) the new saloon and estate will rely heavily on the underpinnings of the previous generation Audi A4. It will be the first time that the Spanish carmaker will have a model for Leon and Altea drivers looking for something larger and more aspirational.
Chrysler posts $370 million net loss on costs tied to repaid loans
Tue, 26 Jul 2011Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.
CAR scoop: GM's $13 billion gamble (2013)
Mon, 30 Sep 2013By Ben Whitworth Motor Industry 30 September 2013 09:45 GM Europe has racked up enormous losses every year since 1999; in 2012 it bled $1.8 billion while GM North America earned $6.9 billion before tax. Yet the Detroit mothership continues to pump billions into its European division, like a deluded gambler convinced his luck will change. Max Warburton, automotive analyst at Wall Street researcher, Sanford C.