Auto Sector

Honda gives glimpse of Insight hybrid

Honda gives glimpse of Insight hybridDetroit - Honda has given a glimpse of the 2010

Park-assist systems need improvement, test finds

Munich  - Several carmakers are offering park-assist systems as standard or extra equipment to help the driver steer into narrow parking spots, but most of the systems promise more than they can do, according to a test conducted by Germany's automobile association ADAC.

Tokyo predicts first-time-ever operating loss

Tokyo predicts first-time-ever operating lossNagoya, Japan - Toyota Motor Corp, Japan's largest automaker, said Monday it expected the first operative loss in the company's history as car sales around the world plunged due to the global financial crisis.

Slow sales force GM Daewoo to shut down factories until January 5

Seoul  - Swelling inventories of unsold vehicles have forced South Korea's second largest automaker to shut down all of its major facilities starting Monday for eight working days.

GM Daewoo Auto and Technology Company, the South Korean unit of the troubled US auto giant General Motors, halted work at all of its major plants on Monday, until January 5.

Month-long closure at all Chrysler plants

Citing "continued lack of consumer credit for the American car buyer", Chrysler LLC announced late Wednesday that it is shutting all 30 of its US plants for at least a month starting December 19 as unsold cars and trucks pile up at showrooms.