Analysts today said Daimler's move to raise billions of euros in fresh capital shows how badly European automakers need cash in the current weak economic climate. Daimler said on Sunday it will raise 1.95 billion euros ($2.
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BMW is searching for a technology partner for its hybrid car batteries, said Klaus Draeger, the company's head of rand#38;d.
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Bondholders holding some $27 billion of General Motors debt on Sunday sent a letter to the White House task force overseeing the bailout of the auto industry to register concern with the lack of progress in GM's debt-restructuring talks.
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After admittedly losing its way for years, Mercedes-Benz says it has a new determination to make the customer king in dealerships.
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Ford Motor Co. and its dealers will spend the next several weeks brainstorming ways to save money. The aim is to trim expenses and streamline operations for both Ford and the dealers.
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Since its improbable beginnings in America selling motorcycles 50 years ago, and cars 40 years ago, Honda has thrived by doing the unexpected, time after time. Take Honda's first U.S. car, the N600.
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Analysts today said Daimler's move to raise billions of euros in fresh capital shows how badly European automakers need cash in the current weak economic climate. Daimler said on Sunday it will raise 1.95 billion euros ($2.
Full story...
France's Renault opposes the idea of issuing new AvtoVAZ shares because the move would dilute its 25 percent stake in the struggling Russian carmaker, Renault's regional chief said on Friday.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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German Economy Minister Karl-Theodor zu Guttenberg said on Saturday he was talking to potential investors in General Motors' Opel unit, rejecting a media report saying there were no serious bidders yet.
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Denny Hecker's associates describe him as brilliant, reckless and "larger than life," with a knack for making powerful friends who have pulled him out of many crises. But there may be no way for Hecker to wriggle out of the tight spot he's in now.
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Labor leaders at troubled German carmaker Opel would oppose a takeover by an investor who was only interested in getting its hands on the company's technical expertise, works council boss Klaus Franz said.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
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Here are profiles of six of the 25 finalists in the 2009 Automotive News PACE Awards.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
Full story...
Here are profiles of six of the 25 finalists in the 2009 Automotive News PACE Awards.
Full story...
Mercedes-Benz, defying a worldwide decline in auto sales, is preparing to expand its U.S. plant. Plans include a $290 million (214 million euros) investment at the Vance, Alabama, factory.
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In a dismal year when industry sales slumped 18 percent, only a few dealership groups managed to boost revenues. According to Automotive News' annual survey of the nation's top 125 dealership groups, just 16 increased overall revenue in 2008.
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The federal government has joined automakers in a frantic scramble to keep suppliers alive.
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Valeo said today CEO Thierry Morin was stepping down in a disagreement over strategy. The French supplier named ex-Saint-Gobain deputy CEO Jacques Aschenbroich as his replacement.
Full story...
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