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$16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models. Chrysler agreed to cut 3,000 jobs, cut one shift from production, and axe three car models. [83] General Motors was also looking to sell its Swedish subsidiary, Saab.
Production of passenger cars dropped from 1,470,000 units in 2008 to just 597,000 units in 2009. Lorry production fell from 256,000 to 91,000 in the same period. [44] In late 2008, the Russian government introduced protectionistic measures, worth $5 billion, to improve the situation in the industry.
The term Malaise era refers to a period in the U.S. automotive industry from roughly the early 1970s through the early to mid 1980s, characterized by malaise: poor products and a generalized industry unease [1] — an era of profound adjustment as the U.S. automotive industry adapted to meet wholly new demands for more fuel-efficient, safe and environmentally responsible products.
Ford Motor is recalling 295,449 diesel-engine trucks because a defective fuel pump could cause a loss of power, ... Fiesta and 2019 Lincoln MKT cars because of a faulty rear-view camera that ...
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In 2016, largely in response to dramatically falling oil prices due to U.S. shale oil output, OPEC signed an agreement with 10 other oil-producing countries to create OPEC+. Josh Boak contributed ...
The advent of concern about fuel economy and emissions had major impacts on engine design. Some of the trade-offs reduced throttle response. Most new cars employ a drive-by-wire system, which includes electronic throttle control and can itself either reduce or increase throttle response (Depending on whether or not it's being employed on a performance car).
Hess also has large oil assets in Guyana, which Chevron said would help grow its production over the next decade. Another $50-billion oil and gas deal could take shape soon, this time in Australia.