42 Articles
Mar 19, 2009
REPORT: BMW warns employees of looming pay cuts

With 58,000 fewer new vehicles sold in 2008 and a net profit nearly 90 percent lower than it was in 2007, The Independent is reporting that BMW is cutting its board member bonuses by 40 percent. In addition, the balance of its 100,000 employees are facing pay cuts. The sales slowdown will also take a bite out of salaries at all levels, as chief executive officer Dr. Norbert Reithofer, explains:

Michael Harley
Mar 19, 2009
Dundee Michigan engine plant gets Clean Corporate Citizen award

The Global Engine Manufacturing Alliance factory in Dundee, Michigan has received a Clean Corporate Citizen award from the state's Department of Environmental Quality. The plant, which is a joint venture between Chrysler, Mitsubishi and Hyundai, produces four cylinder engines used by all three automakers. The award recognizes the building techniques used in originally setting up the factory before it started operations in 2005 as well as the ongoing efforts to reduce energy consumption, keep the

Sam Abuelsamid
Mar 19, 2009
AutoNation introduces Hyundai-like payment assurance incentive

AutoNation, which operates over 300 dealerships in the U.S., has begun offering a new incentive program that covers up to six months of car payments on a new or used vehicle if the buyer loses his or her job. The "Payment Protection" program, which is similar to the Hyundai Assurance program that the Korean automaker began offering earlier this year, tackles one of the major issues c

Damon Lavrinc
Mar 19, 2009
One-Stop Miami Vice Living: Lux development offers free Lamborghini with purchase

Having just returned from the well-heeled shores of Miami for last week's Kia Soul drive, we know that exotic machinery stacks up on the city's streets like so much cordwood. In fact, we saw upwards of ten newer Ferraris in the course of an afternoon's drive (not to mention untold Bentley Continentals and Porsche 911s) – but we didn't see a single Lamborghini during our entire stay. Not even a Jalpa.

Chris Paukert
Mar 19, 2009
U.S. Treasury unveils $5B Supplier Support Program

As difficult as it was for General Motors and Chrysler to secure emergency loans from the government, the supplier community that supports the auto industry has found it even more so. Until today. This morning, the Obama administration announced its Supplier Support Program, which creates a $5 billion fund to help keep payments flowing through automakers to the suppliers they work with.

John Neff
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