Building a plant in Chattanooga will be huge in helping Volkswagen take on the U.S. market, but its pending tie-up with Porsche will add the sizzle.
"VW's image in the U.S. could benefit significantly from Porsche," says Jürgen Meyer, a fund manager with SEB Asset Management in Frankfurt. "Americans don't know Audi, but they know Porsche as a premium brand and that will rub off on VW. They could possibly use the Porsche brand name to create a group of premium models like we see today with Audi, but with better brand recognition."
Jul 31, 2009 1:42 PM
Despite sales falling 23 percent from a year ago, the car maker earned $123 million from operations last quarter, beating analysts' estimates by a good bit. The company did post a net loss of about $175 million, but said it sees signs of a turnaround.
Jul 29, 2009 1:38 PM
The automaker has unveiled its zero-emissions technology, which is so quiet company officials are studying how to add some noise so that other users of the road will know the car's around.
Nissan's electric vehicle shows the driving radius within range of the car's charge on a dashboard navigation map, so drivers won't get stranded on the highway. It can also calculate if the vehicle is within range of a destination. A handheld remote control allows a user to preset room temperature, set a timer for nighttime battery recharging, and to receive a message when the vehicle is fully recharged.
Jul 27, 2009 11:51 AM
North Carolina-based Carlisle Tire & Wheel Co. has picked West Tennessee for a new factory that will make tires, inner tubes and wheels for various vehicles. The plant, which used to house Whirlpool operations, is expected to employ 440 people and will receive various incentives and tax credits from the state.
Jul 21, 2009 10:34 AM
The BBC reports Rick Wagoner is leaving the distraught car manufacturer with $8.6 million over the next five years.
Mr Wagoner is standing down after he was ousted from the jobs of chairman and chief executive in March as part of the government rescue of GM. If he had retired last year, he would have been entitled to a retirement package worth $23m. Last week, GM emerged from bankruptcy protection as a smaller company. Mr Wagoner had led GM since 2000. In recent years he had presided over increasing losses at the firm, after it was hit by falling sales in its key home market. In addition to being hurt by the industry-wide fall in sales, GM was hampered by an over-reliance upon large, high fuel consumption sports utility vehicles, which fell out of fashion as fuel prices rose. Mr Wagoner's pension deal includes five initial annual lump sum payments of $1.64m, plus $74,030 each year, also starting from August.
Jul 15, 2009 9:30 AM
- BRASWELL, ROBERT
- GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR
- GARRETT, TIMOTHY M EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR
- GARRETT, JOHNNY C IV EXECUTOR; GARRETT, JOHNNY C EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR