The little-known Sichuan Tengzhong Heavy Industrial Machinery company expects to complete the deal to buy GM's Hummer brand by October, Yang Yi, the company's general manager, has said.
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Does the sale of Opel-Vauxhall to a Magna-led consortium create an orphan automaker that will struggle to compete? Perhaps something more complex and clever is afoot, writes Mark Bursa.
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General Motors' plans for the Mercosur region will not be affected by the parent company's bankruptcy in the US due to the local unit's legal and financial independence, GM Brazil and Mercosur president Jaime Ardila said. The plan to invest US$2.5bn here from 2007 to 2012 in two stages remains unchanged.
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General Motors' Saab said it was likely to announce its new owner this week and that three quarters of its creditors had agreed to a proposed writedown of the money-losing brand's debt.
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Saab said on Monday it is likely to unveil its new owner this week, and that three quarters of its creditors had agreed to a proposed writedown of the brand's debt.
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Sichuan Tengzhong Heavy Industrial Machinery, the surprise winning bidder for bankrupt General Motors' Hummer brand, said the deal should be wrapped up before October.
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New partners Brembo and SGL Group predict that demand for carbon ceramic brake discs will rise sharply once they find ways to reduce the high cost of a component.
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General Motors will cut its senior executive pension plans by up to two-thirds as part of its bankruptcy restructuring, CEO Fritz Henderson told a U.S. House Energy and Commerce subcommittee on Friday.
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Credit crunched travelers hoping to dodge transport fares by sticking up their thumbs may be in for a long wait, as a new study shows that three-quarters of Britons would not consider picking up a hitchhiker.
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European car scrapping schemes are aiding a shift to smaller, cleaner cars but environmental campaigners say they fall short of pledges to create a greener economy during the recession. "It's definitely a missed opportunity.
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Koenigsegg Automotive believes it can rescue General Motors' loss-making Saab unit, a co-owner of the Swedish luxury sports car maker said.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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A majority of members of the two families controlling Porsche back a deal for the Gulf state of Qatar to acquire a 25 percent stake in the luxury car maker, a German magazine said.
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New partners Brembo and SGL Group predict that demand for carbon ceramic brake discs will rise sharply once they find ways to reduce the high cost of a component.
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DETROIT - General Motors President and Chief Executive Officer Fritz Henderson today announced that Bob Socia, currently executive vice president of Shanghai General Motors (SGM), will be appointed GM vice president, Global Purchasing and Supply Chain, effective July 1. Socia will report to Henderson and will become a member of GM's Automotive Strategy Board.
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NAVTEQ, the leading global provider of digital map, traffic and location data for in-vehicle, portable, wireless and enterprise solutions has announced that the Volvo Car Corporation is the first automotive company to introduce NAVTEQ MapCare - a map update program - for new, premium segment vehicles.
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The Ford Taurus - the car that changed America's view of sedans - is all-new for 2010, with an expressive design, impeccable driving dynamics, class-leading technologies and unsurpassed value.
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Polish rider Taddy Blazusiak (KTM) dominated the Erzberg today, winning by an incredible 42 min. advantage after more than two tough hours of racing on the 45 km track laid out in an open-air steel mine pit. Graham Jarvis (Sherco) was second after a steady, error-free race aboard a smaller 250cc four stroke machine. Andy Lettenbichler came in third on a BMW.
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The administrator of the Brawn F1 blog has posted today very interesting news about the property of the Brawn GP Team, née Honda...
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MIRABEL, Que. (June 14) - Saskatoon's Brett McCormick completed a dominant weekend at Circuit ICAR with victory in Sunday's second round of the Parts Canada Superbike Championship, presented by Moto Journal.
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