The German government unveiled plans Wednesday to get one million electric cars zipping around the country by 2020, offering sweeteners to jump-start national giants like BMW and Volkswagen into action.
German luxury car maker BMW said on Tuesday it had returned to profit in the second quarter and was in talks with French auto group PSA, but was cautious on its full-year outlook.
German auto and truck maker Daimler posted a sharp net loss in the second quarter and said it expected a clear decrease in sales globally for all 2009.
Wendelin Wiedeking was a savvy manager who saved Germany's Porsche from the brink and transformed it into a firm as impressive as one of its roaring sports cars.
German carmaker, which turns 100 on Thursday, has visions of becoming the world's leading luxury car producer despite friction between its parent company Volkswagen and VW shareholder Porsche.
The Gulf emirate of Qatar has offered €7 billion ($9.8 billion) for a stake in Porsche, which would allow the German luxury sports carmaker to clear a large part of its debts, a report said Saturday.
Qatar’s interest in taking a stake in German luxury carmaker Porsche is in danger amid hesitation from its main shareholders, the Financial Times Deutschland reported on Wednesday.
German luxury sportscar maker Porsche said Tuesday that the state of Qatar was negotiating with it as the exclusive candidate to buy a stake in the heavily-indebted company.
German luxury carmakers Audi, BMW and Daimler unveiled weak May sales figures on Monday as relatively good news was reported for German industry in general.
German luxury carmaker Daimler said on Tuesday it was buying a 10 percent stake in US electric car manufacturer Tesla as it attempts to plug in to the market for electic cars.
German luxury car and truck maker Daimler posted a stiff first-quarter loss Tuesday and warned sales would "decrease significantly" this year. Some 60,000 workers will also see their wages cut by nearly 9 percent.
German automaker Daimler said Monday it would give up its 19.9 percent stake in its former US unit Chrysler and forgiving outstanding loans from the struggling Detroit firm.
An Abu Dhabi state investment fund has agreed to take a 9.1-percent stake in Germany's Daimler, the manufacturer of Mercedes Benz cars and the world's biggest truck maker, the companies said Sunday.
<b>In a dark day for German auto workers, it was announced on Wednesday that tyre giant Continental is to close a factory with the loss of 780 jobs, while Daimler is to put a further 18,000 of its workers on shorter hours.</b>
According to the latest edition of the weekly <i>Der Spiegel</i>, German car giant Daimler recently decided not to buy Swedish-based Volvo Cars from ailing US manufacturers Ford, but Daimler has now denied it was ever interested.
The German government is reportedly considering temporarily eliminating taxes on low-emission new cars in an attempt to aid the country’s ailing auto industry.
German carmaker Daimler, hit by falling demand amid the global financial crisis, plans to suspend production for a month beginning in December, as woes continue to pile up for the global auto industry in the growing recession.
The financial crisis and weakening global economies are hitting German car maker Daimler, which warned of weaker 2008 profits for a second time on Thursday amid "a high degree of uncertainty" over the outlook.
