General Motors, Audi and Jaguar Land Rover temporarily stopped selling cars in Russia this week, deciding that taking a timeout from the market was the best way to deal with the ruble’s collapse.
Automakers are battling a more than 40 percent drop in the value of the ruble since June, Russia’s biggest financial crisis since 1998.
The German sports and executive car builder has confirmed it’s about to throw its considerable expertise behind hydrogen fuel cell cars but if you’re waiting for a hydrogen-powered 5-Series to go on sale before making the jump to greener motoring, you could be disappointed.
Volkswagen approved projects for adding several hundred million euros to earnings in coming years in its effort to almost triple profit margins at the namesake car brand, according to people familiar with the matter.
by Ben Klayman
Mercedes-Benz is recalling 4,871 sedans and SUVs in the United States because of a potential oil leak, according to documents filed with U.S. safety regulators.
Spyker Cars — the Dutch supercar maker that was hurt by its acquisition of Saab from General Motors – was today declared bankrupt even as owner Victor Muller vowed to revive the company.
