Standard and Poor's today placed ratings of Fiat SpA and its North American unit CNH Global NV on review for a possible downgrade, citing the group's growing debt burden, shrinking liquidity position and the troubled outlook for the car sector.
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Fiat Group CEO Sergio Marchionne said today he has "absolutely no intention" to run Chrysler LLC if the two companies complete a proposed partnership.
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Fiat has cut its 2009 earnings forecast and said it won't pay a dividend after Q4 profit plunged as the recession hit its sales.
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Curious about how Toyota really works? Check out this episode: A Toyota engineer has to make a business trip from company headquarters in Nagoya to Tokyo.
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Brilliance Auto, the Chinese partner of BMW, plans to build a RMB3bn (US$439m) car plant in north east China.
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Supplier Dura Automotive Systems Inc., which emerged from Chapter 11 reorganization last summer, is taking the first step toward becoming a private company, according to regulatory documents filed late Wednesday.
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Hyundai Motor is reported to have put expansion plans in Brazil on hold, postponing the building of a US$600m assembly plant announced last September due to the global economic slump.
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GM and Uzavtoprom have completed the creation of their joint venture to produce automobile engines in Uzbekistan's Tashkent region.
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Renault chief Carlos Ghosn has said he would forego his bonus payment this year after the French government announced a large aid package for struggling car makers.
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Toyota Motor is considering selling the new IQ microcar in the US market, a senior executive said.
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Profit at Hyundai Motor Co. slid 8.9 percent in the fourth quarter, despite help from favorable exchange rates that lifted revenue from exports. Operating income sank to 581 billion won ($524.8 million) in the three months ended Dec. 31, from $576.
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Kia is staying on schedule with plans to start production in its key US export market.
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Hyundai Motor and affiliate Kia Motors have posted sharply lower operating profits.
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Highlights from the US show floor, plus a Presidential debut.
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Chrysler 200C leads green charge
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Fiat has put some 800 workers at its main Brazilian plant on leave for 10 days to cut output and reduce growing inventory.
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The next-generation Porsche 911 is proving to be an alluring target for spy shooters, who have caught coupe and cabriolet versions undergoing snow testing in the dead of night.
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Ford has said that it has resumed production at its Russian plant after a steep drop in local demand forced it to half production for a month.
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According to Die Welt, a Chinese court has ruled that a local busmaker must to pay MAN AG some EUR2.5m in compensation, after being found guilty of copying the design of its Starliner luxury bus.
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Skoda sold 59,284 cars in China last year, a gain of 117% on the previous year.
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