Toyota Motor Corp. lowered its 2008 U.S. sales forecast to a range of 2.2 million to 2.3 million units after it saw October sales drop 26 percent. Bob Carter, General Manager of Toyota's U.S.
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Oil prices jumped nearly 11 percent today on signs Saudi Arabia had made substantial cuts in its crude exports and as global financial markets rallied. Saudi Arabia has reduced exports after OPEC agreed last month to lower output. U.S. crude rose $6.
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South African new vehicle sales declined by 30.1% to 38,143 units in October compared to the same month last year, the National Association of Automobile Manufacturers (NAAMSA) has said.
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Hyundai Motor Manufacturing Czech (HMMC) has begun volume car production at its new EUR1.1bn US$1.45bn) plant at Nosovice in the east of the Czech Republic.
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Bill Heard Enterprises Inc. is using a Web site to try to drum up higher bids for four of its stores. The dealership group filed for protection in U.S. Bankruptcy Court in Alabama in September.
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General Motors wants to terminate its dealership agreements with three more stores owned by bankrupt Bill Heard Enterprises Inc., court documents say. GM wants to end sales points at Chevrolet dealerships in Union City and , Ga., Sandy Springs, Ga.
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German partsmaker Schaeffler Group could allow another shareholder to take a large stake in Continental. The company's co-owner, Maria-Elisabeth Schaeffler, said she does not exclude a strategic investor.
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US automakers' efforts to get federal assistance to help them through the current period of financial turmoil and flagging sales are expected to resume an urgent pace after Tuesday's elections, a Detroit newspaper said. Meanwhile, parts makers have joined the automakers - and dealers - seeking help from the government.
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General Motors is expected to explain its ongoing merger negotiations with Chrysler by Friday, industry sources have said.
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Billionaire investor Carl Icahn yesterday sold more than two-thirds of his stake in Lear Corp. to realize capital losses before the end of the year, but said he was still supportive of the company's management.
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After a boom year, there are ominous signs of a slow-down in Brazil as car workers at one key automaker are sent on compulsory holiday.
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Germany's wealthiest woman, and one of its most discreet, has gone public with a tale of how a lover filmed their hotel trysts and demanded millions of euros not to reveal them.
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BMW CEO Norbert Reithofer said Tuesday that the company has decided not to produce a series version of the Concept CS. BMW announced its third quarter results today.
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Sales of new cars in Italy fell 18.9% year-on-year in October to 167,940 units according to data released by Italian automotive trade body ANFIA.
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The Indian automaker Mahindra & Mahindra has reported a fall in its vehicle sales in October as domestic and export figures fell on the same month last year.
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Mahindra & Mahindra posted year on year falls in both domestic and export vehicle sales last month.
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Honda Motor has announced plans to adapt part of a motorcycle and transmissions plant first opened in 1954 to expand output of automatic and continuously variable transmissions.
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Germany's car industry on Tuesday cut its 2008 sales forecast in the wake of the global financial crisis and the deepening sense of economic gloom facing Europe's biggest auto market.
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October new passenger car sales in Germany were down eight percent in November, to 258,800 cars. This means that year-to-date the market is on a par with last year's already weak level.
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