Automobile News Blog February Archive

Russia compensates banks to lower car loans

By CarPro at 02/28/09 09:53

Russia plans to compensate banks who charge lower rates on car loans in order to encourage sales. These state subsidies will use 2 billion rubles ($55.45 million) of the state's federal budget.

The ministry has also said it will put aside another 12.5 billion rubles ($347 million)to buy up unsold parts and commercial vehicles from local and foreign producers as AvtoVAZ, Italy's Fiat, Japan's Isuzu, and South Korea's SsangYong.

Chinese Government trying to get people to trade in their bicycles for cars

In order to offset the current economic slump, China's Communist State Council plans to bring the number of car groups operating there down from 14 to 10 by eliminating the weaker players.

Unlike in many Western countries where governments are trying to encourage people to go green and reduce traffic, China is trying to boost car sales by reducing road tolls, providing better infrastructure and even subsidizing purchases in rural areas.

Toyota Motor Corp Grappling With Auto Slump

Japanese auto giant Toyota Motor Corporation plans to cut production by 20% in 2009 as it deals with the worst automotive slump seen for decades. The company will aim to implement these adjustments immediately and have production cuts completed by May.

News: Toyota may cut 2009 output to 6.5 million units - MarketWatch

Toyota focuses on hybrids for U.S., puts sports cars on back burner

Auto enthusiasts holding out for a Toyota Celica/Supra rebirth will have to wait a little bit longer. Toyota have announced that hybrids will be their center of attention for the coming year or longer as they feel that is where customer interest lies in the U.S

News: Toyota focuses on hybrids for U.S., puts sports cars on back burner - MotorAuthority - Car news, reviews, spy shots

Cheap Nissan Versa takes you back to basics

Nissan's Versa 1.6 Sedan is presented as the economic crisis car. Stripped down to the bare minimum - crank windows, manual door locks and no radio - this basic model is a product of today's hostile economic climate. Without modern-day distracting add-ons the Nissan Versa driver can rediscover the joy of simple, silent transportation.:

Read more here: Cheap Nissan Versa takes you back to basics -- dailypress.com