Ford may need to access US government aid in late 2009, an analyst as said, just days after the company said in its Q4 results statement it would have enough cash to survive without a state bailout.
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Chinese OEMs are said to be interested in buying Volvo Cars from Ford. The Volvo brand is upscale, much respected and offers global presence, as well as some class-leading technology.
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Chrysler LLC has launched a new company wide round of hourly worker buyouts and retirement incentives to cope with the industry downturn and meet federal labor-saving requirements for the automaker's rescue package.
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General Motors joined Chrysler LLC today in offering a new round of hourly worker buyouts and retirement incentives to cope with the industry downturn and meet federal labor-saving requirements for the automakers' rescue package.
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Indian car market leader Maruti Suzuki set domestic and total sales records last month while volume at utility vehicle and tractor specialist Mahindra & Mahindra fell 21%.
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Chery Automobile will spend up to US$500m in Argentina over the next four years for a local plant under a planned joint venture with Argentina's Socma Group.
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Hyundai Motor parts unit Hyundai Mobis more than doubled fourth quarter net profit compared to a year previously.
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Ford on Monday said it would sell its Bordeaux automatic transmission plant but stressed there would be no change in employment levels, production of automatic transmissions for Ford continues until 2011 and six new projects were planned for the facility, "including one in renewable energy".
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Mitsubishi Motors North America has confirmed that it will be rolling out its five-door Lancer Sportback in the US this summer for the 2010 model year.
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Mitsubishi Motors North America has confirmed that it will be rolling out its five-door Lancer Sportback in the US this summer for the 2010 model year.
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Renault-Nissan reportedly wants a third partner to participate in its 400,000 units-a-year JV factory in Chennai.
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BMW has denied a media report it is considering an alliance with PSA Peugeot Citroen.
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German engineering company Edscha has filed for bankruptcy, a company spokeswoman said Monday. Edscha makes convertible roofs, hinge systems and driver controls for most major carmakers. It is owned by U.S. private equity company Carlyle Group.
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German engineering company Edscha has filed for insolvency, a company spokeswoman said Monday. Edscha makes convertible roofs, hinge systems and driver controls for most major carmakers. It is owned by U.S. private equity company Carlyle Group.
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Toyota Motor Europe (TME) has named Masato Katsumata senior vice-president of research & development (R&D), effective from 1 February.
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BMW will not take part in this year's Auto Mobil International (AMI) exhibition in Leipzig as part of a cost savings project, according to a German newspaper.
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Renault's Turkish JV, Oyak Renault, is to halt production between Feb. 2-10 due to lower orders.
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German supplier Schaeffler Group has again asked for state aid after calls for help appear to have been thwarted over the weekend. Schaeffler is grappling with billions of euros in debt amassed through its acquisition of a 49.
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