As part of a push to defibrillate flatlining new car sales in the USA, General Motors’ financial arm GMAC has slashed fees, cut or delayed repayments and - somewhat worryingly - recommenced sub-prime lending.

Sub-prime lending, as most of you are probably aware, is the practice of approving loans for customers who would not ordinarily be [...]

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Despite the long-awaited introduction of exciting new products, and the prospect of more to come Jaguar-Land Rover today announced that it will be cutting 450 jobs in the UK.

The reduced demand for new cars and the current world-wide financial situation have been cited as the main reason behind the lay-offs. The job losses will consist [...]

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If you thought Ford’s 3Q losses were bad, think again. General Motors has just announced its own financial performance for 3Q 2008, and the numbers are grim.

GM’s total loss for the third quarter is a whopping USD$2.5 billion; it has also managed to eat through $6.9 billion of its cash reserves during the course of [...]

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As if America’s beleaguered automakers weren’t in enough trouble. Ford has today announced a net loss of USD$129 million for the third quarter of 2008, which equates to a drop of $0.06 a share. A pre-tax operating loss of $2.7 billion for 3Q 2008 has also been announced, which is in stark contrast to [...]

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Poor sales in the US, Europe, and slowing growth in emerging markets, the increasing cost of raw materials, unstable oil prices, a strong yen and the US credit crisis have forced Toyota to drop its net income forecast to around a third of what it was last year.
“Currently, the financial crisis is negatively impacting the [...]

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