As part of an increasingly close partnership, Mercedes-Benz parent company Daimler is reportedly preparing to increase its stake in Aston Martin by another one percent, bringing the German automaker's shares in the British company up to five percent.
It's official, Porsche has submitted an offer to buy the Volkswagen group. Unless you've been living in a cave, you probably already know that the erstwhile sportscar manufacturer is more profitable than the megalithic auto consortium, with all its subsidiaries, and has been steadily increasing its stake in VW.
China is the fastest growing market in the world and it's gobbling up autos at a prodigious rate. Every global automaker wants a piece of the pie and the one's that moved quick and early to enter the market, like General Motors and Volkswagen, are reaping the biggest rewards right now. DaimlerChrysler, however, is pursuing another plan to shovel some of that Chinese Yuan in its trunk. The German-American automaker announced today it has bought 24 percent of Beiqi Foton Motor Co., which produces
Billionaire investor Kirk Kerkorian announced today that his investment firm Tracinda Corp. had cut its stake in General Motors from 9.9% to 7.4% by selling $462 million worth of the automaker's stock. That amounts to a sell off of 14 million shares at $33 per share.
Toyota announced today that it will spend $373 million on a deal with Isuzu that will transfer 5.9% of the truck- and diesel-maker to the giant Japanese automaker. Toyota's goal in purchasing a stake in Isuzu is to bolster its diesel portfolio, which apparently lags behind other major automakers like cross-town rival Honda who announced in September it would have diesel-powered passenger cars for sale in the U.S. within three years.