Munich- A dramatic slump in year-end deliveries saw luxury carmaker BMW post its first annual decline in sales for 15 years, according to figures for 2008 released Friday.
The Munich-based company said it sold 1.44 million cars last year, a drop of 4.3 per cent compared to 2007 when BMW recorded its best year ever.
It was the first annual decline in sales since 1983 when the boom triggered by German unification three years earlier began to fade.
Tokyo - Toyota Motor Corporation has decided to promote Vice President Akio Toyoda to become company president in June, Japanese media reports said Friday.
Japan's leading automaker hopes to pull the business out of its slump by appointing the first founding family member in 14 years to head the company, Jiji Press quoted sources as saying.
Beijing - Volkswagen AG, Europe's largest carmaker, on Friday reported record sales of just over one million vehicles in China last year, but the group still missed its annual sales target.
The German auto giant said it sold 1,024,008 vehicles in 2008, up 12.5 per cent from 2007, amid estimated vehicle sales growth of about 8 per cent in China.
"Throughout 2008 we have continuously improved our results," Winfried Vahland, president of Volkswagen Group China, said in a statement.
Beijing - Volkswagen AG, Europe's largest carmaker, on Friday reported record sales of just over one million vehicles in China last year, but the group still missed its annual sales target.
The German auto giant said it sold 1,024,008 vehicles in 2008, up 12.5 per cent from 2007, amid estimated vehicle sales growth of about 8 per cent in China.
"Throughout 2008 we have continuously improved our results," Winfried Vahland, president of Volkswagen Group China, said in a statement.
Seoul - Cash-strapped South Korean automaker Ssangyong Motor applied for receivership in a Seoul court to avoid bankruptcy Friday, following a decision by its Chinese owner.
The decision to file for receivership was made at a meeting Thursday night by parent company Shanghai Automotive Industry to tackle Ssangyong's liquidity crisis, after the company was denied new bank loans two weeks ago, the sport utility vehicle (SUV) manufacturer said in a statement
Munich- A dramatic slump in year-end deliveries saw luxury carmaker BMW post its first annual decline in sales for 15 years, according to figures for 2008 released Friday.
Tokyo - Toyota Motor Corporation has decided to promote Vice President Akio Toyoda to become company president in June, Japanese media reports said Friday.
Beijing - Volkswagen AG, Europe's largest carmaker, on Friday reported record sales of just over one million vehicles in China last year, but the group still missed its annual sales target.
Seoul - Cash-strapped South Korean automaker Ssangyong Motor applied for receivership in a Seoul court to avoid bankruptcy Friday, following a decision by its Chinese owner.
