Moldova.org - Auto

Shanghai General Motors to develop new engines
Shanghai General Motors plans to develop three new engine types: the AlloyTecV6 engine, Ecotecr four cylinder engine and Twin-Tec four cylinder engine. SGM’s marketing director, Liu Yuehai said that SGM will configure these three kinds of engines on Park Avenue, Lacrosse and Spark and the auto maker will focus on the development of the new engines to meet the increasing market demand. He more...

Chinese carmakers to join forces
Chinese car giant Shanghai Auto (SAIC) and the country's oldest carmaker Nanjing Automobile Corporation (NAC) will set up a working group to study how they could work together in the highly competitive market, according to state press. Beijing wants it to restructure so that only the biggest carmakers and those that are growing rapidly remain, Chinese authorities being concerned about overcapacity more...

Deripaska eyes Ford's Land Rover, Jaguar
The head of Russian automaker GAZ, billionaire tycoon Oleg Deripaska, expressed his interest in Ford's premium British brands Jaguar and Land Rover, according to a report by German business weekly WirtschaftsWoche. Ford of Europe was not immediately available for comment. It also said that Deripaska would also be a possible bidder for Volvo if Ford decides to sell the Swedish brand. "We h more...

India's Bajaj in talks with Renault for partnership
Indian two-wheeler maker Bajaj Auto and French automaker Renault issued a statement saying they were close to concluding a business partnership for Renault's proposed plans to manufacture a 3,000-dollar car. The companies said they were in preliminary deliberations to jointly understand customer requirements and business potential for very competitive vehicles in India. Bajaj Auto said that if the more...

India's Tata may begin Jaguar due diligence
India's Tata Motors Ltd. may start next week to acquire Ford Motor Co's Jaguar and Land Rover brands, Reuters cites the Hindustan Times reporting. The paper quoted a source close to the transaction saying that Senior Tata officials are already in London and they will start due diligence from next week. A spokesman for Tata declined comment. A person familiar with the matter said last week that Tat more...

Volkswagen's 2Q, 1st half net soars
Europe's biggest automaker by sales, Volkswagen AG, said that its sales were boosted by cost-cutting efforts at home in Germany in the second quarter and first six months of 2007, and that profit results showed better than expected sales in Europe and China. The company based in Wolfsburg earned 1.22 billion euros in the second quarter, which represents up 42 percent from the 859 million euros more...

Ford advances Jaguar and Land Rover sale talks
U.S. carmaker Ford Motor Co. said in a statement that it’s pleased with the positive expressions of interest in the business and that it plans to continue talks with selected suitors for its Jaguar and Land Rover brands. The company is exploring in greater detail the potential sale of the combined Jaguar Land Rover business with selected parties who have expressed interest, informs a Reuters more...

Ford surprises with 750 million-dollar profit
Struggling Ford Motor Co. stunned analysts with a surprise second-quarter profit of 750 million dollars, which is far better than the forecasts of Wall Street analysts whom did not expect the auto maker to do this well after a record 12.7 billion-dollar loss in 2006. Sales were also aided by improvement in global operations and the divestment of its Aston Martin brand. Ford president and chief exe more...

Hyundai Motor profits jump 52 pct. in 2Q
South Korea's biggest automaker and the world's sixth-largest carmaker by sales, Hyundai Motor Co. said its second quarter net profit rose 52 percent ($666 million) from a year earlier on robust domestic demand and cost-cutting efforts. Sales grew 15 percent during the quarter to 8.03 trillion won ($8.7 billion) and the net profit was way higher than expected. From April to June, strong sales more...

Kia Motors profit up 36 percent in 2Q
Kia Motors Corp., an affiliate of Hyundai Motor Co and South Korea's second-biggest automaker, reported a rise in net profit of 36 percent or $67 million, for the second quarter on cost-cutting and strong domestic sales of the large-size Opirus sedan. A company spokesman, Kang Hyun-Geun, said that increased domestic sales of the luxury sedan gave a boost to second-quarter results, about 2,000- more...