Russian carmaker AvtoVAZ needs 26 billion rubles ($753 million) to keep running and is asking the state for extra capital through a share issue, or through its parent firm, CEO Boris Alyoshin said.
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BMW today said it would focus on managing its finances to ensure its independence during 2009, a transition year in which car markets will drop as much as 20 percent.
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BMW Group CEO Norbert Reithofer warned that the premium automaker could lose money if the current global sales downturn continues for the rest of in the year. "For 2009, the largest risk is the collapsing market.
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Key auto supplier Lear Corporation has reached an agreement with lenders for an amendment and waiver to its primary credit facility.
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Key auto supplier Lear Corporation has reached an agreement with lenders for an amendment and waiver to its primary credit facility, it said in a press release. But, in a more detailed annual results statement to the US SEC, it noted it might nonetheless have to file for bankruptcy protection.
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We reveal amazing plans for new mid engined roadster inspired by incredible R8.
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Tata Motors has reportedly applied for patent protection for over 37 inventions and innovations linked to its Nano, in what some see as an aggressive move to protect the low-cost car against imitation.
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Chery's plans to enter the Thai market appear to be gathering pace.
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What a difference a year makes. In early 2008, Tata Motors unveiled its Nano to a rapturous media reception as the snub-nosed, 4-seater with a 100,000-rupee ($1,945) price tag created a new category of super-cheap cars for the masses.
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Magna International announced plans to build a new factory in Russia. The European arm of Canada's Magna International will build a car parts factory to supply the Volkswagen plant in Kaluga, near Moscow.
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Chinese automaker Beijing Automotive Industry Co. is seeking to buy U.S. auto parts maker Delphi Corp.'s non-core assets, the 21th Century Business Herald said today.
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Chinese automaker Beijing Automotive Industry Co. is seeking to buy U.S. auto parts maker Delphi Corp.'s non-core assets, the 21th Century Business Herald said today.
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Lear Corp., the world's second-largest automotive seat maker, said late Tuesday that a Chapter 11 bankruptcy filing remains possible as it seeks out a long-term restructuring of its capital structure.
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Chrysler LLC has asked the Obama administration to lend its captive finance unit more money to ease a consumer credit crunch and help the carmaker survive, CEO Bob Nardelli said. A $1.5 billion bailout from the U.S.
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Smart wants to get more passengers into its iconic ForTwo minicar.
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A group studying Saturn's possible spin-off from General Motors has been approached by GM competitors, including foreign manufacturers, about selling their cars under the Saturn brand, an adviser says.
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Seating and electronics supplier Lear Corp. said this evening it may be required to file for bankruptcy protection despite winning an agreement with lenders that gives it until May 15 to restructure its debt-heavy balance sheet.
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Chrysler LLC has asked the Obama administration to lend its captive finance unit more money to ease a consumer credit crunch and help the carmaker survive, CEO Bob Nardelli said. A $1.5 billion bailout from the U.S.
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The Peugeot 3008 is an addition to the French carmaker's compact 308 range and follows a trend toward crossovers, in this case combining minivan and SUV characteristics.
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A group studying Saturn's possible spin-off from General Motors has been approached by GM competitors, including foreign manufacturers, about selling their cars under the Saturn brand, an adviser says.
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