recession
Polk Research: Why Are Luxury Cars Losing Sales In America?
Sales of luxury cars have been slipping for some time now. No surprise there—we may not be living in refrigerator boxes (with decent Wifi connections, hence you reading this post), but we’re not completely over the 2008 recession. And yet, luxury cars have sunk even lower in the market for some time now, and not…
Ferrari To Idle Engine Plants, Lay Off Workers
Ferrari might be opening a theme park this fall, but there’s already trouble brewing in the automotive world’s Magic Kingdom as the Italian automaker takes steps to idle one of their engine plants and lay off 600 workers after demand for Ferrari engines utilized by sister brand Maserati has fallen. According to a Bloomberg report, the company…
Volkswagen to Overtake General Motors as World’s Second-Largest Automaker
Due to a predicted decrease in output at General Motors for 2009, it is expected that the U.S. automaker will be surpassed by German rival Volkswagen AG by the end of this year. The news comes from industry market research firm R.L. Polk Germany and is based on overall production numbers. Polk envisions an annual…
Auto Sales Slump Continues With 36.5 Percent Drop for March
Hyundai performed well above the industry average for March, which may be one of the main reasons by both Ford and GM have copied the Korean automaker’s job-loss protection incentive. (Photo Credit: Liberty Cars] Well, it ain’t getting any better. The recession continues to bully automakers as creditors continue to bang on their front doors…
Cadillac To Hault Sales in Half of Europe
Cadillac has made the move to stop selling its vehicles in half of the European countries it currently has a presence in – this according to a report in Automotive News. There is no word on exactly which of the 25 countries will be affected but two markets that are guaranteed to still carry the…
Toyota predicts loss, Lamborghini slows production
Toyota Motor Corp stock decline over the past 12 months. Source www.BigCharts.com According to Bloomberg news, Toyota will soon announce a possible dividend cut or profit loss. Following the announcement by Toyota Motor Corp. President Katsuaki Watanabe, stocks dropped (just 0.2 percent) but still remained strong. Bloomberg sources the Nikkei English News, which doesn’t give…
