Word: volkswagen
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...which wasn't eligible for bailout money, made the plant any easy candidate for a shutdown, since Toyota's plants in Kentucky, Indiana, Texas and Alabama are all newer and nonunion, Cole says. United Auto Workers officials organized a large protest outside the NUMMI plant last week. (Read "Why Volkswagen Is Powering Through the Recession...
...original Trabi was intended to be East Germany's answer to the Volkswagen Beetle, the symbol of West Germany's economic miracle and rise after World War II. But the Trabi was more a mockery. It had a plastic body and was driven by a two-stroke engine that ran on a cocktail of oil and gasoline that emitted a putrid stench as it rolled with a characteristic clackety-clack along East German roads. (Read about the Beetle in TIME's most important cars of all time...
...makers of the Trabi aren't the only German car manufacturers turned on by the dream of electric cars. Volkswagen says it will launch an electric car by 2013, while Daimler, the maker of powerful gas-guzzling Mercedes-Benz limousines, has teamed up with power utility RWE for a series of electric-car tests in Berlin...
...steamy saturday afternoon just outside Shanghai, Zhang Yi is in a blessedly cool General Motors showroom, kicking the tires of the company's newer models. He's not there to beat the heat. He drives a small Volkswagen now and wants to upgrade. A middle manager at a state-owned steel company, Zhang has no worries about his job or China's economy. "Things are still pretty good," he says. "I have no problem now affording one of these," nodding toward the array of gleaming new Buicks nearby. (Read "China's Booming Car Market Shifts into Reverse...
...income of $6,000, compared with $39,000 in the U.S. and $33,400 in the E.U. To be solidly middle class in China's big cities is to have an income of about $12,000. Brisk though auto sales may be, most Chinese still can't afford a Volkswagen or a Buick, let alone a BMW. Even as China's consumers feel richer, their share of its economy may not change much until Beijing enacts reforms to the health-care and social-security systems, steps that would give people more confidence to spend rather than save. Last year, says...