General Motors has no concrete plans to shut its German unit Opel's factories, Juergen Ruettgers, the state premier of North Rhine-Westphalia, said after meeting GM's head Rick Wagoner in Detroit.
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A group representing General Motors bondholders fears the company's latest restructuring fails to sufficiently address challenges facing the company, a person familiar with negotiations between the group and GM has said.
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Even if General Motors and Chrysler obtain billions more in government loans, the threat of bankruptcy remains high for both, analysts have said.
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Car production in Europe will continue to decline for much of this year, an analyst at JD Power has told just-auto.
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GM Europe union leaders are upbeat about the company's future ahead of a meeting next week to discuss cost-cutting measures that could include the closure of "several" of the U.S. automaker's European factories.
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Continental has a customer for its turbocharger, CEO Karl-Thomas Neumann told Automotive News Europe on the sidelines of the company's annual results press conference here.
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Swedish car maker Saab Automobile - abandoned by General Motors is today taking steps to stave off bankruptcy.
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China's Chery Automobile said on Thursday it has rolled out its first self-developed electric car, becoming the second home-grown car maker to tap potential demand for clean energy cars.
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Continental today it will increase cost-cutting this year after posting a steep drop in its profit in the fourth quarter of 2008. The German supplier said adjusted fourth-quarter earnings before interest and tax (EBIT) dropped to 267.
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Continental today said it will increase cost-cutting this year after posting a net loss of 1.1 billion euros in 2008, compared with a profit of 1.02 billion in 2007.
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Fiat said it would bring back to work for a week about 1,000 workers who were paid off temporarily.
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Opel and Saab may be mulling an independent future, but there are huge problems with either staying part of GM or becoming independent business units, an analyst has said.
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Saab's management board will meet again Friday to discuss the troubled carmaker's future amid reports that the company will soon file for protection from creditors.
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General Motors' loss-making Swedish carmaker Saab could decide to file for reorganization today, Swedish radio reported. A reorganization filing would be made with a Swedish court after which the viability of continuing operations is assessed.
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General Motors has no concrete plans to shut its German unit Opel's factories, Juergen Ruettgers, the prime minister of North Rhine-Westphalia, said after meeting GM CEO Rick Wagoner in Detroit.
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A healthy U.S. auto industry is vital for a sound U.S. economy and by extension for Japanese carmakers, a Tokyo-based auto lobby said, giving a tacit nod to the latest request for federal aid from ailing rivals in Detroit.
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General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles.
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AutoNation Inc. will continue to cut orders for new vehicles from manufacturers by about 60 percent in the next two months as it expects U.S. auto sales to remain weak, CEO Mike Jackson said on Wednesday. AutoNation, the No.
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Opel and the other European operations of U.S. carmaker General Motors have signaled they will unveil a plan for their future next week, German Economy Minister Karl-Theodor zu Guttenberg said on Wednesday.
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AutoNation Inc. will extend through April its plan to cut orders for new vehicles by about 60 percent a month. The nation's largest dealership group expects U.S. auto sales to remain weak, CEO Mike Jackson said Wednesday.
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