Auto Sector

Wiesmann offers V8 with 420 hp

Wiesmann offers V8 with 420 hpDuelmen, Germany  - The German sports car manufact

Mitsubishi to showcase zero-emission Sport Air concept

Mitsubishi to showcase zero-emission Sport Air concept Tokyo  - Mitsubishi is showcasing a zero-emission i MIEV Sport Air concept car, built on the basis of the i MIEV minicar already available in Japan, at the upcoming Geneva Motor Show in March.

Teaser images released by the Japanese car maker show a two-door coupe-style vehicle with pronounced alloys emphasizing the sporty image.

Almost the entire roof is made of glass featuring integrated solar cells, giving the interior plenty of light and extra energy to the lithum-ion batteries positioned in the floor.

US car sales continue sharp slide in January

US car sales continue sharp slide in January Washington  - US car sales tumbled by more than 30 per cent in January, with struggling domestic carmakers continuing to lead the way as consumers cut back sharply on spending.

The US "Big Three" all reported declines of 40 per cent or more compared to January 2007. General Motors Corp dropped 49 per cent, Ford Motor Co fell 40 per cent and Chrysler LLC declined 55 per cent.

Japanese makers did only a little better. Toyota Motor Corp fell 34 per cent in January from the year before, while its rival Honda Motor Co was down 31 per cent. Nissan Motor Co fell 30 per cent.

German car sales plunge

German car sales plungeBerlin - The global car industry crisis has tightened its grip on Germany's key automakers with sales tumbling by 14 per cent in January, figures released Tuesday showed.

Published by Germany's Assocation of International Motor Vehicle Manufacturers (VDIK) and the country's carmakers' association (VDA) said car orders in Germany alone dropped by 13 per cent in January compared to the same month in 2008.

German car exports plunged 39 per cent to 222,700 vehicles, the VDA.

Reports: General Motors, Chrysler, preparing new round of layoffs

General Motors, ChryslerNew York  - General Motors and Chrysler, held upright by 13.4 billion dollars in federal loans, are preparing new rounds of buyouts of factory workers to meet federal requirements and survive the recession, media reports said Monday.

The companies have already notified the United Auto Workers (UAW) union of their intention, according to unnamed union officials quoted by Bloomberg financial news.

The federal government is insisting that the companies cut costs and prove they can be viable by the end of March, or the loans will be recalled.

Honda plant in Britain prepares for temporary shutdown

Honda plant in Britain prepares for temporary shutdownLondon  - Production at a giant Honda car plant in Britain was being wound down Friday for a four-month closure due to falling sales.

More than 3,000 workers arriving for their last shifts before they return on June 1 will receive their full basic pay for the first two months, and around 60 per cent after that.

Unconfirmed reports have said that a further 1,000 workers had already signed up for severance deals.

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