Porsche has acquired over 50% of Volkswagen, increasing its holding to 50.76% of all ordinary voting shares.
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Danish supercar promises more power than Bugatti Veyron.
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Chrysler led the Big Three plunge last month with sales off an incredible 53.3% year on year (adjusted for selling days) to 89,327 units.
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Dongfeng Motor, China's third-largest automaker, sold 1.06 million vehicles in 2008, up 11.4 percent from a year earlier, an industry source said on Tuesday. Dongfeng's passenger vehicle sales increased 14.
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Toyota Motor plans to halt production at all of its plants in Japan for a total of 11 days in February and March in response to flagging auto sales, Japanese public broadcaster NHK reported on Tuesday.
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ArvinMeritor is cutting base salaries of about 100 senior executives by 10 percent as it looks to conserve cash in response to "worsening economic conditions," the auto parts supplier said on Monday.
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General Motors said on Tuesday its China vehicle sales rose 6.1 percent in 2008, down sharply from 18.5 percent growth the previous year as a downturn in the economy hit automobile demand. GM and its joint ventures sold 1.
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ArvinMeritor Inc. plans to cut the base salaries of its executives by 10 percent beginning Jan. 16 in response to a worsening economy.
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Ford Motor Co. dominates a special list of Detroit 3 vehicle recommendations by Consumer Reports in its February issue. The magazine normally recommends cars in its April issue.
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Chrysler LLC, which launched a test loan program with credit unions in 12 states last month, has expanded the program to all 50 states.
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ArvinMeritor Inc. plans to cut the base salaries of its executives by 10 percent beginning Jan. 16 in response to a worsening economy.
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General Motors will receive a second $5.4 billion installment of its government loan on Jan. 16, the U.S. Treasury said late Monday. In a transaction report for its bailout fund, the Treasury said it has approved the release of a total of $9.
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The Scuderia Ferrari Formula 1 team plans to bring back its controversial 'traffic lights' pit stop system for the 2009 season.
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Honda team boss Ross Brawn has confirmed he is in talks with his former employer Ferrari about securing a customer engine supply for 2009.
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Team Aspar could run semi-private Kawasaki motorcycles in the 2009 MotoGP season as the Japanese manufacturer pulls out of racing.
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Steve Hallam, an engineer and manager the past 27 years in Formula One, is settling into his new office at Michael Waltrip Racing - and a new life in America after leaving his post as head of operations for team McLaren based in Woking, Surrey, United Kingdom.
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Steve Hallam, an engineer and manager the past 27 years in Formula One, is settling into his new office at Michael Waltrip Racing - and a new life in America after leaving his post as head of operations for team McLaren based in Woking, Surrey, United Kingdom.
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Team Aspar could run semi-private Kawasaki motorcycles in the 2009 MotoGP season as the Japanese manufacturer pulls out of racing.
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The BMW-Sauber racer Robert Kubica has joined the growing ranks of formula one drivers who are also involved with teams in the lower categories of the sport.
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The Scuderia Ferrari Formula 1 team plans to bring back its controversial 'traffic lights' pit stop system for the 2009 season.
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