Supplier ArvinMeritor today said it posted a net loss from continuing operations of $991 million for its fiscal first quarter that ended Dec. 28. That compared with a loss of $1 million a year earlier.
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ArvinMeritor Inc. posted a nearly $1 billion net loss on impairment, tax and other charges in its first fiscal quarter with revenue dropping more 17 percent from the same period last year.
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Volkswagen has denied a local media report and said it has no plans to delay expansion of a car manufacturing plant in south west China.
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The Czech EU presidency has urged the European Commission to find new ways to encourage people to buy more cars.
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Strong sales of the Sonata sedan and Santa Fe crossover helped Hyundai stand with only two other brands in recording higher U.S. sales in January compared with January 2008. The other two gainers were Hyundai's sister brand, Kia, and Subaru.
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AvtoVAZ domestic car sales decreased 60% on last year to 29,100 units in January, the company has said in a statement.
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Are we talking ourselves into recession? If we are, then perhaps the media reporting of all the bad economic news plays a role, but it's a supporting - not a lead - role at most. And the media has a duty to report on what is happening.
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U.S. Rep. John Dingell, longtime congressional champion for U.S. automakers, warns people to not write off the industry -- or him -- just yet. "Don't give up on this 82-year-old Polish lawyer," said Dingell, D-Mich.
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Rep. John Dingell, longtime congressional champion for U.S. automakers, warns people to not write off the industry -- or him -- just yet. "Don't give up on this 82-year-old Polish lawyer," said Dingell, D-Mich.
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US light vehicle sales in January set a couple of records the automakers could do without: adjusted for selling days, volume dropped 39.4% year on year to 655,226 - a 27-year low and, for the first time ever, below China.
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A daring duo from Vauxhall is set to star at next month’s Geneva Motor Show.
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Fiat said it will halt production at its Mirafiori plant for an extra two weeks in March, keeping about 5,000 workers home as it cuts costs amidst a severe industry crisis. On January 26, a source said the plant would be closed until March 13.
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The BVRLA - the UK trade body for vehicle leasing and rental companies - has written to the government to propose that it does more to free up financing and has also suggested that a scrappage incentive be introduced that applies to used cars as well as new ones.
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Mazda Motor and Mitsubishi Motors warned on Wednesday they would lose money this year because of falling demand for new cars.
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Italy will soon unveil measures worth "sizeable" sums to aid the auto, auto parts and household appliances sector, Prime Minister Silvio Berlusconi said. Berlusconi did not provide further details on the planned aid.
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SHANGHAI (Reuters) -- Volkswagen AG said it has no plans to delay the expansion of a car manufacturing plant in southwest China, denying a local media report.
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Chrysler LLC has had three offers to buy its Dodge Viper sports car business, co-President Jim Press said Tuesday. Chrysler announced plans to sell the Viper operation in August.
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Chrysler LLC suffered a sales decline steeper than any other automaker in January -- down 55 percent from January 2008, to be exact. The decline spanned most of the lineup, but car sales were hit particularly hard.
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Renault has accepted French President Nicolas Sarkozy's demand that any carmaker expecting aid from the French government agree to maintain existing manufacturing operations in France.
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After 17 years at BMW's Design department, Chris Bangle decided to pass the torch to his longtime colleague Adrian van Hooydonk. Responsible for the modern-day image of BMW products, including the 1-, 3-, 5-, 6- and 7-Series, the Z3, Z4 and Z8 as well as the X3, X5 and X6, he also worked on the development of the new MINI, some Rolls-Royce models and a few innovative motorcycle concepts.
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