Audi has claimed its new V10 R8 is the first car in the world with all-LED (light emitting diode) headlamps.
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GMAC LLC today said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors cars and trucks. In a U.S.
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Federal aid to avoid bankruptcy has forced GMAC to change finance offers to General Motors vehicle buyers.
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Ssangyong Motor is working on restructuring plans with majority shareholder Shanghai Automotive Industry.
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GM Daewoo Auto & Technology will extend the suspension of production at some of its plants further into January as an effort to control inventory levels.
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Kumho Tyre has said it has been unable to pay bonuses to its 3,000 factory workers due to a liquidity shortage.
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Toyota has raised its prices in Indonesia by between 5% and 13%, effective Jan 1, citing exchange rate movements as an explanation.
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Brilliance China Automotive reached 92% of its full year sales targets in 2008, according to a local news report.
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Toyota Motor reportedly is secretly developing a solar powered vehicle though production is some years away.
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Sales by India's largest vehicle maker, Tata Motors plummeted in December as tight credit in a traditionally weak month and a slowing economy trimmed demand.
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Though sales dipped towards the end of the year, in line with most markets, South Korea's auto industry nonetheless posted a modest increase for the full year.
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Visteon will move around 2,000 salaried workers to a four-day week that cuts pay 20%.
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The board of Motherson Sumi Systems has approved the acquisition of Visiocorp's global rear view mirror business.
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The meltdown in the Spanish auto industry continued in December.
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The US government has paid out the first US$4bn in emergency loans to support General Motors but a payment to Chrysler is on hold.
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French firm's new badge to debut on C3 Picasso
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Tata Motors sales fell 47% to 25,219 units last month.
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Indian car market leader Maruti Suzuki sold 56,293 vehicles in December 2008, down 10% year on year.
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General Motors India December sales fell 35.95% year on year to 4,041 units last month.
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GMAC Financial Services has said it would immediately resume auto financing "for a broader spectrum of US customers" as a result of expanded access to funding as a bank holding company.
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