Revenues at PSA Peugeot Citroen dropped 24.9% in the first quarter of this year line with falling sales in global markets and efforts to reduce excess vehicle stocks.
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Audi will build its new Q3 SUV in Seat's plant n Martorell, Spain starting in 2011. Audi will invest about 300 million euros ($387.2 million) in the plant for Q3 production, the carmaker said on Wednesday.
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Volkswagen's premium brand Audi has, for now, decided not to make cars in the United States, choosing Spain instead of the U.S. as the site to manufacture its new Q3 compact sport utility vehicle.
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Volkswagen's premium brand Audi has, for now, decided not to make cars in the United States, choosing Spain instead of the U.S. as the site to manufacture its new Q3 compact sport utility vehicle.
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A German court has cleared Daimler AG of accusations it waited too long to announce the departure of its former chief executive, Juergen Schrempp, in 2005.
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French carmaker PSA/Peugeot-Citroen saw revenue slump by a quarter in the first three months of the year and confirmed it expected a loss and negative cash flow in 2009 as it battles an industry-wide crisis.
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PSA/Peugeot-Citroen saw revenue slump by a quarter in the first three months of the year and confirmed it expected a loss and negative cash flow in 2009 as it battles an industry-wide crisis.
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Best pictures yet of F1 team's all-new Ferrari F430-rivalling supercar
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Ibiza FR to debut with new Leon Cupra.
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VW launches special R Line version of SUV, featuring styling tweaks and uprated interior
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New MINI Speedster revealed, Jaguar XFR driven, best 7-seaters tested, first official look at new McLaren
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Asian carmakers are in talks with the Moroccan government to set up plants with a capacity that could exceed 200,000 cars a year, a local car industry group said.
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Volkswagen swung to first-quarter operating loss when excluding a one-off disposal gain but preserved cash as Europe's largest carmaker staved off the worst of a crisis in the automotive industry.
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The latest debt reduction offer by Chrysler LLC's lenders is unacceptable because it would yield the lenders an unjustified return, an Obama administration official said.
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Volkswagen posted a 76 percent drop in first-quarter operating profit on Wednesday, but automotive net liquidity rose 34 percent compared with the end of last year, as the group slashed investments.
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The European Union Commission appears ready to extend the block exemption, the legal framework for auto sales in Europe, past May 31, 2010.
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Workers from a Continental tire factory in France attacked a local government building on Tuesday after learning that an attempt to block the planned closure of their plant in court had failed, a lawyer and a union official said.
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Automotive wheel maker Hayes Lemmerz International Inc. expects auditors to express "substantial doubt" about its ability to remain in business. The suburban Detroit supplier also said it would file its annual financial report late.
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Maserati North America Inc. said CEO Marti Eulberg has resigned after less than a year with the company. Her interim replacement will be Raffaele Fusilli, Maserati's global commercial director.
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First-quarter financial results from Europe's crisis-hit carmakers could show the benefits of government sales incentives.
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