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Wendelin Wiedeking, CEO of Porsche and Germany’s highest-paid manager, is leaving the company immediately, ending a long power struggle that pitted one of Europe’s most respected executives against two of Germany’s most powerful families. Porsche finance chief Holger Haerter will also be leaving the sports car maker. Michael Macht, Porsche’s production chief, will replace Wiedeking [...]
In a change of heart that will save over a thousand Canadian jobs, Chrysler has reversed its decision to eliminate the third shift at the Windsor minivan plant. “It’s great news for 1,200 CAW Local 444 members out at the Chrysler plant and obviously the spinoff jobs that come with it,” Canadian Auto Workers President [...]
General Motors, which lost its title as world’s largest automaker to Toyota just last year, may drop to No. 3 in the rankings by the end of 2009. And the new No. 2 may surprise some Americans: it’s Volkswagen. R.L. Polk Germany is forecasting the folks who brought us the New Beetle and the Rabbit-Golf-Rabbit-Golf, [...]
Sometimes victory is defined simply by not losing as badly as everyone else. Chrysler had one of those victories in February. Even though its own sales were down 44 percent, Chrysler came in ahead of General Motors and Ford, where sales were even worse. In fact, Chrysler no longer has the worst year-to-date (YTD) sales [...]