Porsche is not very happy these days! Not long ago they were the only company with 17 percent gross profit on each car they sell but now, thanks to the global economy downturn, they are struggling to keep the factories up and running! let alone paying their big debts. Of course the deal with the [...]

So this is it! Finally General Motors has filed for chapter 11 bankruptcy. But the work has started for a new GM to re-launch in 90 days, which will be smaller and more focused on profitable brands. Also the government of the United States will take 60 percent stakes in the new company. They have [...]

General Motors is currently doing some heavy housekeeping! They are killing brands, laying-off workers, shutting down factories and… even dealers are not safe as GM recently announced that more than a thousands of them will lose franchise. But according to Mike Devereux, President of GM Middle East: “We will not be affected”. Good!

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The Rap phenomenon Marshal ” Eminem” Mathers will take 200 laid-off autoworkers from Detroit Motor City to the Jimmy Kimmel show this Friday to show his support for his hometown and to raise awareness about how’s life for these guys who were the builders of American auto empire. By the way, his new album, the [...]

British sports car maker Lotus actually makes more money consulting other companies and refining their models than selling their own cars! but good news is coming out of factory that we are going to see at least two new models, apart from Evora coupe and convertible, in the next few years. There will be a [...]

Porsche has stopped its efforts to take control of Volkswagen AG and agreed for an in-house merger with them, creating an integrated car manufacturing group in which ten brands will stand below an integrative leading company alongside each other and will be controlled by one single management board.

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General Motors has to make sacrifices to stay alive, but some of these sacrifices really hurt! As a part of its restructuring plan, GM announced the death of Pontiac brand and production halt for Saab, Saturn, and Hummer by the end of 2009. Also 21,000 of Pontiac workers will be laid off. GM is revising [...]