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Decline in the automotive industry forced Ferex-ZSO to seek protection from its creditors

April 28, 2009 | 05:08pm CEToriginal
Ferex-ZSO got into financial problems due to the unprofitable operation of the foundry in Ostasov...
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Tentative agreement: Saturday’s shifts in Skoda Auto according to unions, time accounts as of September

April 28, 2009 | 04:42pm CEToriginal
First 50 employees of the Volkswagen plant in the Slovak town Martin have begun to work in the Skoda carmaker on Monday. In the second wave...
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Daimler agreed on withdrawal of its remaining 20% share in Chrysler

April 28, 2009 | 03:56pm CEToriginal
The complete Daimler‘s departure will untie the Chrysler’s hands for agreement negotiation of an alliance with the Italian company Fiat, and...
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General Motors to cut about 27,000 jobs, government might acquire GM's majority share

April 27, 2009 | 10:30pm CEToriginal
Out of the total, 21,000 will for the US and 5,900 for Canada. The carmaker also intends to discontinue the Pontiac brand and reduce...
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US trade unions agreed on concessions with Chrysler, Fiat and the government

April 27, 2009 | 05:25pm CEToriginal
The only carmaker’s obstacle in obtaining the state assistance is now the negotiation with creditors. The agreement with Fiat on the assumption of 20% share in Chrysler...
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Hyundai aims to borrow EUR 250 million for plant completion in Russia

April 27, 2009 | 04:21pm CEToriginal
The plant’s building in Russia started in Russian St. Petersburg in last June. The originally planned date of production starting…
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Truck manufacturer Volvo suffered a loss at revenues fall of 26.8% in Q1

April 27, 2009 | 01:54pm CEToriginal
Analysts, however, expected the loss lower. Despite the negative results, the company will not further dismiss its employees, but...
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Nosovice-based Hyundai plant to deliver vehicles to Mexico

April 27, 2009 | 10:18am CEToriginal
Hyundai will thus become the first Czech carmaker which is going to start selling its vehicles in Mexico. The vehicles will be delivered from Nosovice also to...
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Chrysler's Canadian employees agree on wage-cutting by one fourth due to alliance with Fiat

April 25, 2009 | 07:27pm CEToriginal
Another option of saving is limitation of daily working hours by...
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Employees from Bratislava-based Volkswagen to help with production in Skoda Auto temporarily

April 25, 2009 | 05:39pm CEToriginal
They will primarily help with the Fabia model production to which there is a long waiting time due to scrap bonus.
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South Korean carmaker Kia returned to profit in Q1 at revenues fall of 6%

April 24, 2009 | 07:07pm CEToriginal
Analysts expected profit in Q1, but significantly lower than in reality reported net profit of...
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Chrysler on edge of bankruptcy, Fiat probably to prefer purchasing Opel

April 24, 2009 | 06:17pm CEToriginal
The US Ministry of Finance has called upon the Chrysler carmaker today to prepare for...
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VAT deduction increased car interest less than it was expected

April 24, 2009 | 05:44pm CEToriginal
In addition, there are few cars on the market. Customers must watt for some cars for even several months, including the best selling car…
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Robert Bosch significantly decreased revenues in Q1, expecting fall by 15% in 2009

April 24, 2009 | 02:08pm CEToriginal
The company expects a gross loss after last year’s profit of EUR 940 million. The world’s car production will, according to Bosch, fall by…
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Hyundai’s profit dropped by 42.7% in Q1 along with sales revenues decline by 26.4%

April 24, 2009 | 11:39am CEToriginal
The results were though better than expected by analysts mainly due to the weak won. Profit margin has dropped to…
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General Motors to close 13 plants in USA and Mexico temporarily

April 24, 2009 | 10:58am CEToriginal
The closures will be under way from May till July. Their duration will vary according to a particular plant. GM intends to cut production this way by...
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Lukoil being interested in Ceska rafinerska, aiming to extend petrol stations net

April 23, 2009 | 11:31pm CEToriginal
Lukoil’s entry to Ceska rafinerska is not possible yet because of the first option of other shareholders...
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Fiat intends to take over Opel, according to works council

April 23, 2009 | 11:04pm CEToriginal
Fiat might sign a preliminary agreement on purchase of Opel's major share already on...
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Continental’s employees protested against plants‘ closure today

April 23, 2009 | 10:55pm CEToriginal
The protest has been under way during a shareholders‘ meeting. In two factories in Germany and France, there are at risk…
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Faurecia suspended expansion in Czech Rep, projected plant in Karvina not to be built

April 23, 2009 | 09:39pm CEToriginal
Projects that were supposed to constitute the Karvina-based plant's production have been transferred or remained in other plants manufacturing exhausts of the Faurecia group...
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Svejnar: Scrap bonus is asocial measure, supports car owners only

April 23, 2009 | 07:58pm CEToriginal
A prospective initiation of scrap bonus in the Czech Republic will have no big positive effect on the economy, according to Svejnar, because...
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Skoda Auto considers Fabia model ‘s production also in Vrchlabi

April 23, 2009 | 06:44pm CEToriginal
Fabia models are currently the most required due to the scrap bonus and the carmaker does not want to lose customers because of the long waiting time. In March, the Fabia model’s sales amounted to...
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Fiat fell in loss of EUR 410 million, negotiating with Chrysler further on

April 23, 2009 | 05:11pm CEToriginal
The reason was rapid decline of car sales caused by the global economic crisis. Fiat's revenues have declined by...
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Knorr Bremse to move production from Hejnice to Liberec

April 23, 2009 | 04:06pm CEToriginal
About 250 employees should not lose their jobs. The reason for this shift is the impossibility of further expansion; the company should leave Hejnice in...
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Renault to produce its new diesel engine 1.6 dCi (96 kW) in France

April 23, 2009 | 09:22am CEToriginal
A new engine will substitute the current aggregate 1.9 dCi (96 kW). Renault thus follows strategy of downsizing...
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Source: ECB, April 2, 2025