1 December 2008
GM delays Thai diesel engine plant
Troubled carmaker General Motors Corp has suspended the construction of its US$445mil diesel engine facility in Thailand due to the global financial crisis, the Nation newspaper reported on Saturday. Work on the site in Rayong, 150km southeast of Bangkok, was put on hold for one year, said Steve Carlisle, president of General Motors in South-East Asia. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/1/business/2683340&sec=business
2 December 2008
Global auto crisis worsens
Carmakers reported tumbling sales across Asia and Europe yesterday as the recession drove buyers from showrooms and drew a warning of more gloom next year. [Business Times]
www.btimes.com.my/Current_News/BTIMES/articles/auto2-2/Article/
Mitsubishi to start electric car production
While many car companies are still trying to perfect their electric cars, Mitsubishi Motors Corp has forged ahead with its i MiEV electric car that is set to enter production next year. [ The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/2/business/2691325&sec=business
Proton Exploring CKD Operations In Egypt
National carmaker Proton Holdings Bhd is exploring the possibility of undertaking CKD (completely-knocked down) operations in Egypt. Its managing director, Datuk Syed Zainal Abidin Syed Mohamed Tahir, said Egypt, with a population of 80 million, was a big market and Proton cars had received encouraging response. [Bernama]
www.bernama.com/bernama/v5/news_lite.php?id=375513
3 December 2008
Ford may sell Volvo for more cash
Ford Motor Co said on Monday it was reviewing options for Volvo and could sell the luxury Swedish car brand as it scrambles to shore up cash amid a deep industry downturn. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/3/business/2700390&sec=business
4 December 2008
Auto industry takes another hammering
DETROIT/LONDON: The auto industry was hammered again on Tuesday as US monthly sales plunged nearly 37% to the lowest level since 1982 and the slump spread to Europe and Asia, forcing automakers to slash production. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/4/business/2714496&sec=business
Honda cutting down overseas expansion plans
NEW YORK: Honda Motor Co is scaling back its overseas expansion plans, freezing a project to boost capacity in Turkey and delaying a second plant in India by at least a year, the Nikkei business daily reported. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/4/business/2713624&sec=business
5 December 2008
Ford may sell Volvo for US$6b
Ford Motor Co may seek to sell Volvo for as much as US$6 billion (US$1 = RM3.64), close to what it paid for the Swedish carmaker 10 years ago, and is using JPMorgan Chase & Co as an adviser, people with knowledge of the plan said. Ford, which bought Volvo for US$6.4 billion in 1999, is counting on the strength of the brand to draw bidders, said one of the people. Ford said on Monday it may sell Volvo as it seeks to show Congress it's taking action to cut expenses and return to profit. [Business Times]
www.btimes.com.my/Current_News/BTIMES/articles/forsale-2/Article/
Proton in product collaboration with Mitsubishi
Proton Holdings Bhd and Mitsubishi Motors Corp have agreed on a product collaboration that would see Proton source a vehicle from Japan to replace the Waja and Mitsubishi take the Persona and Proton's upcoming MPV (multi purpose vehicle) to be marketed as Mitsubishis in certain markets. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/12/5/business/2727852&sec=business
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