Honda has threatened to move more production and research and development, and perhaps even its headquarters, offshore unless the Japanese government takes steps to reduce the value of the yen against the US dollar.
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An appeals court in the eastern French city of Colmar on Thursday confirmed a 200,000-euro ($292,000) fine imposed on Volvo for the deaths of two children in a 1999 accident.
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The White House has raised the b-word for the first time as a possible way to save financially-troubled General Motors and Chrysler.
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U.S. Treasury Secretary Henry Paulson on Thursday offered mixed signals on the chances of a bailout for troubled automakers, saying failure is not an option but adding that any bankruptcy should be "orderly."
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As an indication of just how bad things are getting, Japanese media today said Toyota Motor was expected next week to report its first annual parent-only operating loss in decades.
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British car dealer Lookers issued a profit warning on Friday and scrapped its final dividend, blaming increasingly tough trading conditions in both new and used car markets.
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At a meeting with top managers in Dresden yesterday, Volkswagen chief executive Martin Winterkorn warned of hard times ahead.
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German automotive research company, the Institut für Automobilwirtschaft (IFA), is forecasting a 5% downturn in global vehicle markets in 2009 to 50.4m vehicles.
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General Motors and Chrysler LLC could get the first installment of $17.4 billion in federal emergency loans as soon as Dec. 29, the Bush administration says.
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General Motors Corp. and Chrysler LLC are close to securing emergency loans as part of a U.S. government aid package that would demand sweeping restructuring, according to sources familiar with the talks.
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General Motors and Chrysler made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, sources familiar with the talks said.
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General Motors and Chrysler LLC made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, sources familiar with the talks said.
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Toyota is likely to report its first annual parent-only operating loss since the company was founded more than 70 years ago, hit by plunging sales and the soaring yen, several Japanese media reported.
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Toyota Motor Corp. is likely to report its first annual parent-only operating loss since the company was founded more than 70 years ago, hit by plunging sales and the soaring yen, several Japanese media reported.
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Next year, General Motors will be the biggest seller of vehicles equipped with direct injection in North America. The technology was initially borrowed from the realm of diesel engines, and is proving its ability to save fuel and reduce emissions. BMW, Volkswagen / Audi and Mazda also use the technology in some of their vehicles.
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Shame, all this financial doom and gloom stuff lately. It's depressing sure- but it also takes away from some of the great new stuff our automakers are planning to bring to market. Example? Ford's latest hybrid- the Fusion. Powered by a newly hybridized version of the automakers latest 2.5 liter four cylinder engine, Ford engineers are saying that it will be the most fuel efficient mid-sized sedan in America- with at least a 6 mpg advantage over its key competitor, the Camry hybrid.
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The Saulnier Racing/Mazda France team will run two LMP2 cars in the Le Mans Series in 2009 and will apply to the ACO for two entries in the same class at the Le Mans 24 Hours in June.
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Ferrari driver and 2007 Formula 1 World Champion Kimi Raikkonen will work with a new race engineer during the 2009 season.
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