Auto Loan Daily

TOOLS PRINT EMAIL European Auto Companies Need a Bailout Too By Ross Edwards Friday, 21 November 2008 05:21 American carmakers aren’t the only ones hurting during this financial crisis. In Europe, car sales have plummeted and auto companies there are in danger of running out of money. European automakers have asked the European Union for 40 billion euros, which is about 50.5 billion U.S. dollars, to help them stay in business during the coming months. PSA Peugeot-Citroen, the second largest European carmaker behind Volkswagen, announced it would cut 3,550 jobs in France in the near future. Peugeot-Citroen has already cut 7,400 jobs in 2008. The company says it expects sales to drop at least 10% next year, according to Reuters and USA Today. Opel, a European brand owned by GM, is pleading for aid from the German government. Ford, GM and Nissan have all recently announced plans to cut European production.

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GMAC's Lower Credit Score Requirement Gives Dealers Increased Sales
It seems now that GMAC has lowered its minimum credit score and made auto financing more available, buyers are finally coming out of hiding and buying ... Read More

Hyundai Genesis Beats Luxury Competitors to Take Top Ranking in Consumer Reports
Hyundai’s new luxury sedan, the Genesis, took top honors with Consumer Reports in its “upscale sedan” category. The Genesis, which ... Read More

Toyota to Close Japanese Plants for 11 Days Due to Drop in Sales
Toyota will stop production at its Japanese plants for 11 days in February and March, as the automaker’s bleak U.S. sales mean Toyota dealers ha ... Read More

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