1st Anti-terror Armored Vehicles Unveiled By Shri Lakshmi Cotsyn Ltd.

With the Government of India increasing its focus on modernizing the defense forces with modern technology, an armoring division of Shri Lakshmi Cotsyn Ltd. (SLCL) is now making an entry into India’s growing defence market with the launch of complete...

Italian Coastguard Detains Two Men Sailing in a Pink Maserati

The Agenzia Nazionale Stampa Associata has reported that Italian coastguards have nabbed two men sailing in a car boat made from a pink Maserati near the northern Italian resort of Forte dei Marmi. The two 50-year-olds, Marco Amoretti and Marcolino De...

Ford Motors to Invest $550 Million to Build New Global Small Cars, Electric Vehicle At Michigan Plant

Ford Motor Company has said it is investing $550 million to transform its Michigan Assembly Plant into a lean, green and flexible manufacturing complex that will build Ford’s next-generation Focus global small car along with a new battery-electric...

Decline in U.S. Auto Production Fuels Increase in Mexico’s Share

The deep recession and credit market freeze caused U.S. sales of cars and light trucks in 2008 to drop by 18% from 2007 levels.  This decline worsened as 2008 progressed, punctuated by a 36% drop in year-over-year sales in December.

Please Sir, May We have Some More? – GM And Chrysler Seek More Government Aid

The U.S. auto manufacturer Chrysler, which has been badly affected by the ongoing recession, has asked the US government for an additional $5 billion in aid on top of the four billion it has already received, saying that it plans to fire three thousand...

President Bush has Announced Short-Term Loans for Auto Manufacturers

President Bush has announced plans to provide emergency help for the troubled auto industry, a week after a $14 billion rescue plan for the automakers failed in the U.S. Senate.

Ford Motor Company Asks for $9 Billion Bridging Loan From Congress, CEO Will Reduce His Salary to $1

Ford Motor Company this morning submitted to Congress its new business plan, which details the company’s plan to return to profitability and outlines a request for potential access to a temporary bridge loan in case the current economic crisis worsens...

Who’s to Blame for the Problems in Detroit? – Political Opinion

There is plenty of reason to blame Detroit for its own circumstances. The Detroit automakers have been some of the most poorly managed companies in the nation for many years, operating at times oblivious to actual and important market trends. They pushed...

Faced With Staggering Losses Ford Retools Its Plants

Faced with plummeting sales of SUVs and trucks, Ford announced on Tuesday that it’s spending $75 million to convert a Michigan truck plant into a small-vehicle factory. American consumers, who’s budgets are already stretched thin by the...