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 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 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 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 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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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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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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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 six finalists for the prestigious North American Car and Truck of the Year award were announced today before the Detroit Economic Club. A group of 50 journalists from across Canada and the U.S. voted among 14 cars and 11 trucks, which had to be new-generation or feature substantial modifications. Three finalists were named in each of the two categories.
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The economic situation being what it is, North American consumers are having more trouble obtaining credit for major purchases such as real estate or vehicles. The effect of the lack credit is visible in the American auto industry, more specifically at Chrysler where sales have dropped between 20 and 25%.
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Due to obvious lack of financial support and sponsorship, the IRL will have no choice but to cancel next season�E(tm)s IndyCar race at the Belle-Isle circuit in Detroit. This event had been a long time feature on the Champ car calendar and was brought back by Roger Penske in 2007.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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