Family-owned Schaeffler group has said it wants to maintain operational control even if forced to take on outside investors to help pay the debt it took on to buy rival Continental.
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Prices of trucks in India are expected to fall by Rs 15,000-100,000 if makers pass on the entire benefit to customers, according to the Economic Times.
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Hyundai Motor workers are expected to demand a wage rise this year despite a global economic crisis that is forcing production cuts at many of the company's plants, Yonhap News reported.
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Chrysler LLC CEO Bob Nardelli was meeting today with members of the U.S. auto industry task force as officials begin to review the automaker's request for up to $5 billion in additional aid.
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Chrysler LLC CEO Bob Nardelli kept his cards close to his vest after a visit here on Wednesday. Nardelli was here to press Obama administration officials on Chrysler's need for more federal aid, says a person who was briefed on the event.
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Five major Japanese carmakers cut their global production in January by 33.5 to 62.7% from a year earlier, with Mazda Motor hit hardest by global economic problems, according to data released on Wednesday.
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Magna International has reported a quarterly loss for the fourth quarter of 2008, as expected.
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Suzuki Motor is making large scale work suspensions in March, local press reported today, adding that the company would also stage a three-day lay-off for 6,000 white collar workers next month.
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A US judge has provisionally granted bankrupt Delphi permission to end health care and life insurance benefits for retired salaried workers from April.
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Visteon has posted a fourth quarter net loss of US$328m on product sales of $1.55bn.
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The European Commission warned again against protectionism as six EU countries awaited approval for schemes to support their ailing car industries.
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A Saturn MBO could backfire badly on GM. Mark 'Coolbear' Bursa wonders whether a more radical approach might be needed as the General seeks to avoid Chapter 11.
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To save costs, the German operations of Volkswagen group's Skoda and Seat brands will move into a single building. Currently, Seat Germany employs 150 staff in Moerfelden, 15km west of Frankfurt.
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General Motors has axed plans for a new engine plant and will instead spend about US$250m to build the 1.4-litre four-cylinder Family 0 engine for the Chevy Volt and Cruze in existing floor space in the company's Flint South engine plant located on Bristol Road.
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Ford Motor Co. CEO Alan Mulally will take a 30 percent salary cut for two years as the centerpiece of a package of white-collar pay cuts that may make a vote for concessions more palatable to hourly workers.
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Ford Motor Co. CEO Alan Mulally will take a 30 percent salary cut for two years as the centerpiece of a package of white-collar pay cuts that may make a vote for concessions more palatable to hourly workers.
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Auto-parts maker Visteon Corp. warned today it might breach its debt covenants following a steep quarterly loss and said it was considering disposing of substantial assets to address liquidity needs.
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Ford's chief executive Alan Mulally has agreed to take a 30% salary cut for 2009 and 2010, a memo to employees said.
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Suzuki Motor Corp has recalled close to 130,000 vans and trucks on its domestic market of Japan on fears a defect in the rear tyre system could cause the vehicles to roll over.
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