Here is the clarification from Tata Motors in response to the grapevine that the India’s  top auto maker is going to buy Ford’s stake in Japan’s Mazda Motor Co. Lately, the company’s spokesman Debasis Ray denied such reports.

“There have been reports in the media that Tata Motors is among potential buyers for shares in Mazda Motors. Tata Motors clarifies that the report is incorrect,” said Ray. (more…)

A brutal and cruel environment of sales in the United States has caused another key industry forecaster to curtail the projections the sale of vehicles in the U.S.

Earlier, Global Insight (USA) Inc. said U.S. light-vehicle sales probably will fall to 13.8 million units this year and then fall even more, to around 13.4 million, in 2009.

The generation of 16.15 million U.S. vehicle sales was done in the year 2007. It was down by 2.5 percent from sales that were generated in the previous year. The exact number was 16.56 million in the year 2006 (more…)

Chrysler LLC has filed a lawsuit against Getrag, which is a German parts maker.

The lawsuit has been filed because of the fact that Getrag misrepresented its ability to secure financing in order to build a transmission plant in Tipton, Ind. It was worth $530 million.

Chrysler said in a statement late Wednesday that Getrag and Getrag Transmission Manufacturing LLC failed to use good faith efforts to obtain financing for the joint venture. (more…)

President Bush today signed the $700 billion dollar “financial rescue deal” for the nation’s financial system.

He signed the deal just after the House of Representatives voted 263-171 for the measure. The deal was done in order to give an all together new start to the stalled credit markets and estimated to cost more than 700 billion dollars.

”By coming together on this legislation, we have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country,” Bush said this in the White House Rose Garden (more…)

Here comes the Orange County Auto Show, the ultimate destination for manufacturers over the globe, as well as passionate consumers. This indoor exhibit of will be held for four days at the Anaheim Convention Center, California, starting October 2. More than 500 new-model vehicles from more than 40 domestic and foreign manufacturers will be on display under one roof. Really, a great place to be in!

The Orange County Auto Show is presented by the Orange County Automobile Dealers Association and the Southern Motor Car Dealers Association. (more…)