Ford Motor Co. and General Motors posted the sharpest declines among the major automakers as U.S. sales fell 36.8 percent in March. Ford's sales dropped 42.1 percent and GM's 44.7 percent. Chrysler LLC sales tumbled 39.3 percent.
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Ousted CEO Rick Wagoner left General Motors with a $22.1 million pension, but that pales compared with what he could have received if GM were in better financial shape. As of the end of 2008, Wagoner had 4.
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A Russian car assembly plant will shut down indefinitely this month in the first major auto failure of the economic crisis.
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Ford shapes up family car for the next decade with dramatic looks and cutting-edge tech.
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The free payment protection promotion pioneered by Hyundai in the US, and copied just this week by GM and Ford, has now crossed the Atlantic with Honda (UK) announcing it as part of a new April package of car offers.
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Carmakers have stopped cutting sales and output forecasts, a tier one parts supplier CEO has said.
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Ruediger Grube, a senior Daimler executive who helped organize the merger between Daimler-Benz and Chrysler, is set to take over as the head of German national rail operator Deutsche Bahn, sources told Reuters on Wednesday.
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Ikuo Maeda is the new head of design at Mazda Motor Corp.
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Ikuo Maeda is the new head of design at Mazda Motor Corp.
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A month to the day after the Duster concept wowed the crowds in Geneva, Dacia has released official pics of the production car...
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AvtoVAZ has announced its work schedule for April-May and confirmed downtimes.
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Four units of the Dutch car dealer and European importer of North American General Motors cars, Kroymans, have been declared bankrupt, an industry union said.
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The Canadian Auto Workers union has said it would not reopen its recent concession agreement with General Motors of Canada but would be willing to look at alternative measures to help reduce the burden of the company's so called "legacy costs".
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Chrysler Financial is axing 80 jobs or 2% of its 4,000-strong workforce.
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President Katsuaki Watanabe welcomed Toyota Motor Corp.'s latest class of new hires today, trying to soothe "anxiety" about joining the carmaker as it braces for record losses.
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Standard & Poor's cut Fiat's long-term debt rating to BB+, the highest junk rating, and warned that a further downgrade was possible, just as Fiat boss Sergio Marchionne was travelling to Detroit for talks on the possible alliance with Chrysler.
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The premier of Lower Saxony, Christian Wulff, spoke out against the German government taking a stake in Opel on Wednesday. "The state should not enter the business of building cars.
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Chrysler has halted production of its Sebring and Dodge Avenger cars for four weeks as consumer demand continues to fall.
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In a sharp reversal, GMAC Financial Services said today that it has backed off a tough new inventory repayment policy on aging new vehicles and has agreed to resume subprime lending.
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In a sharp reversal, GMAC Financial Services said today that it has backed off a tough new inventory repayment policy on aging new vehicles and has agreed to resume subprime lending.
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