The Autodromo Nazionale Monza has been a mainstay of Formula One since its inception, but if it doesn't get the funding it needs, it could find itself in serious trouble - and lose the Italian Grand Prix in the process.
The US Treasury will come out ahead on its bailout of Ally Financial, unloading its final shares for an estimated $1.25 billion and bringing its total profits on the Ally rescue to $18.3 billion on a $17.2 billion investment. That's a net win.
Earlier this month, Spyker confirmed that it had entered bankruptcy protection proceedings in the hope of restructuring its finances and getting back on its feet. But now it seems those efforts have failed and those hopes have been dashed as the Dutch automaker has officially been declared bankrupt.
PSA Peugeot Citroën has been based in its current offices, located less than half a mile from the iconic Arc de Triomphe in Paris, for a half century now. But the latest word has it that the French automaker is planning on leaving the historic location as part of its plans to cut costs.
Oh, what a difference a year has made. When the numbers were tallied for 2013, the Honda Civic was riding high by claiming its segment's sales crown in the US despite being challenged by the latest generation of the Toyota Corolla for part of the year. However, with just a month to go in the battle for C-segment supremacy in 2014, it looks like Toyota gets to hoist the trophy this time.
Gasoline in the US continues its weeks-long descent with prices down about 13 cents a gallon over last week to $2.544, which is lower by around 69 cents/gallon from this time last year, according to the US Energy Information Administration. Many drivers are welcoming the lower bills at the gas station as a fantastic holiday gift, but Ford investors are somewhat spooked over the potential sales implications for the 2015 F-150.
Now there's an attention-grabbing headline, eh? Although the answer to the riddle - pickup trucks and SUVs - might be somehow deflating, the numbers involved deserve a going over. According to TrueCar's figures (click on the table to enlarge), six of the year's ten best-selling vehicles in the US that sell for a transaction price above $50,000 are body-on-frame, and the Mercedes-Benz E-Class is the only foreigner to crack the top five.
Aston Martin CEO Andy Palmer named three leads for new vehicle programs when he took the reins, now the company is looking for the money to give those leads something to do. Reuters reports that the Gaydon firm is considering debt or equity financing to raise 100 to 150 million pounds ($156M to $234M US) in funding for "an expansion from the current model range," according to an unnamed source. On top of that investment round, Aston Martin is overhauling its working capital streams to unlock mor
2014 has been a banner year for Porsche, as the company has moved over 169,000 units through November, an increase of around 12,000 units over the same period in 2013. During last month alone, the company's sales saw a year-over-year jump of 25 percent. The European market, meanwhile, saw an 18-percent jump in sales, while its North American efforts have jumped 13 percent.
A lot of people go shopping for deals on TVs or computers around the holiday season, but it looks like some folks are finding some fantastic deals on cars too. Take the Chrysler 200 for example. The new sedan had a great November in terms of sales, and by Chrysler's numbers, it delivered 14,317 of them for the month, a 155 percent increase from the same month last year. It even beat the November 2013 sales of the old 200 and Dodge Avenger combined. However, a report from Daily Kanban based on Tr
The growing popularity of on-demand taxi services like Uber and Lyft is revolutionizing the way people get around in many cities. Early data is starting to show that in the long term, they could lead to a fundamental change in the whole industry. The first steps of this transformation are already being felt on the streets of New York.
ZipCar is a great tool if you're the city dwelling, car-ownership-averse sort. It's even somewhat affordable, with prices from $6 a month and driving rates from $8 to $10 an hour. A ZipCar-like Indian company called Zoomcar India Pvt. is taking that affordability to the extreme, offering rentals of the Mahindra e2o, a small city-minded EV for just 73 cents an hour.
To the casual observer, it would seem at least likely that F1 is owned by the FIA. It is, after all, known as the FIA Formula One World Championship. But in actuality, as far as the commercial rights are concerned, the sport is effectively owned by an intricate web of investment companies. But now the FIA has taken back at least a small part of it.
When the chips were down, and looked down for the count, the Caterham F1 Team launched a crowd-funding campaign to get back on the grid in time for the season finale. And now, it seems, they have succeeded.
Tesla's 2014 third quarter financial report mixed some positive news with gloomy messages. On one hand, the electric carmaker posted its best quarter ever in terms of deliveries, including its best single day with 907 EVs delivered. The company also announced expanded production to get even more vehicles out the door by the end of 2015. However, the Model X got delayed yet again and higher prices in Europe were mulled. Dousing the results with a bit more cold water, a Merrill Lynch investor lett
The problems plaguing automotive supplier Takata this year for its faulty airbag inflators are starting to take their toll. Not only do an estimated 7.8 million vehicles need repairs, but it's facing an investigation by the National Highway Traffic Safety Administration. A recent report also alleges that hidden attempts to fix the problem date back to as early as 2004. With all of this turmoil you might expect Takata's chairman, Shigehisa Takada, to be righting the ship, but the man is no where
In many ways, we're living in a golden age of automotive performance. After all, it's possible to show up at a Dodge dealer, hand over about $60,000 and storm away with a 707-horsepower Challenger Hellcat. Or for those who prefer a touch more luxury, the BMW M4, Mercedes-AMG C63 and latest Cadillac ATS-V offer between 425 and 503 horsepower, depending on your pick, with a bit more poshness. However, none of these powerful vehicles fit the classic definition of a two-place, droptop sports car, an
General Motors is laying off about 510 workers from two factories beginning in January, and it could be months before the automaker needs some of that latent capacity to come back on line. A combination of poor sales and high dealer inventories are prompting the cutbacks, according to Automotive News.