VW's supervisory board decided on Friday to retain for now a special committee that limits top shareholder Porsche's power, rebuffing the sports carmaker. Porsche has been fighting for ways to gain more control over VW.
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British-based carmaker Jaguar Land Rover is in secret talks with the UK government over a 1 billion pound ($1.48 billion) loan, just nine months after the Indian conglomerate Tata Group bought the luxury carmaker, the Sunday Times newspaper reported.
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Daimler is currently reevaluating all investment plans and if they do not directly contribute to improve the competitiveness of the company they will be cut.
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EU industry commissioner, Günter Verheugen, has said that it would be up to the German government alone to decide whether to give guarantees to Opel in the event of its parent company's bankruptcy.
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Porsche chief Wendelin Wiedeking will set out a roadmap for the takeover Volkswagen at its financial press conference this week on Wednesday, and may give forecasts for the current year.
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It's not exactly a full-on illumination, but Volvo has revealed a first glimpse of the Volvo S60 Concept car which will be unveiled at the Detroit Motor Show in early January 2009, giving an indication of what the all-new Volvo S60 will look like when it's launched in 2010.
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Honda's zero-emission fuel cell supercar concept - the FC Sport design study model - has been revealed at the LA Auto Show.
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Without a federal bailout, extreme cost cutting will be needed to reduce General Motors' cash burn enough for the automaker to survive the next few months. Company executives say GM needs $11 billion to $14 billion on hand to operate.
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Fiat Group Automobiles is getting ready to launch three low-cost models under a separate brand name in western Europe. The cars are due in 2010. The decision is a bet that, as the global financial crisis intensifies, consumers will want cheaper cars.
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Thousands of supplier jobs could be cut in central Europe as the global slowdown in auto production hits the region. )x("",It could be 10,000 jobs as a worst case scenario, said Jiri Kyncl, a spokesman for the Czech auto association, SAP.
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This is a tough time to be leading an automaker. Sluggish sales, high materials costs and a worsening global economy are forcing top auto executives to make some of the toughest decisions of their professional lives.
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Could GM, Chrysler or Ford survive a bankruptcy filing? Could the domestic industry? The CEOs of the Detroit 3 answered with an emphatic "no" last week when some Washington lawmakers broached bankruptcy and#x2014; even a quick, prepackaged one...
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General Motors Europe is reaching out beyond Germany in search of government help to avoid a liquidity crisis if its US parent goes bankrupt.
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Renault has pulled its company-owned dealer network out of Hungary and plans to do the same in the Netherlands by year-end.
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President-elect Barack Obama backs congressional demands that U.S. automakers provide a game plan for long-term survival before lawmakers approve a taxpayer funded bailout, a senior adviser said today.
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If Congress demands new management in exchange for financial aid to the Detroit 3, lawmakers may have a tough time figuring out which executives must go.
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With federal bailout money on the line, Chrysler CEO Bob Nardelli last week gave the world a peek at his private company's finances. The picture behind the veil wasn't pretty. Chrysler is running on fumes and may run out of cash by year end.
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Toyota will lose money in Europe for the first time since its 2001-2002 fiscal year unless unit sales rise sharply in early 2009.
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