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News watch May 2011: today's auto industry news
Tue, 31 May 2011Come 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-hourTuesday 31 May 2011 • Canada will look to sell their 1.7% share in Chrysler to Fiat, but will be biding their time to see what the US goervment obtain for their own share first. (autonews.com)• Nissan's St Petersburg, Russia assembly plant will shut down for five days due to lack of engines. The plant, which builds the X-Trail, Murano and Teana midsize saloon models, receives its engines from Japan.
Ford slows rate of cash burn in posting $1.4 billion net loss
Fri, 24 Apr 2009Ford Motor Co., the only U.S. automaker operating without federal bailout loans, burned through $3.7 billion in cash during the first quarter in posting its fourth straight quarterly loss. Ford slowed the burn rate from the fourth quarter of 2008, when cash declined by $5.5 billion.
Art Center Car Classic '10: Rain, rain, drive away
Tue, 19 Oct 2010Mark Vaughn Italian car fans got an up-close look at some of their favorites last weekend. A little rain drizzled over the ninth showing of the Art Center Car Classic in Pasadena, Calif., but that only served to weed out the weak. The true car lovers braved the wet and didn't let it dampen their spirits.