Tata Motors, India's largest vehicle maker, said today that its founder Tata Sons has pledged an additional 24.05 million shares taking its total pledge to 13.42 percent of its total equity.
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Tata Motors, India's largest vehicle maker, said today that its founder Tata Sons has pledged an additional 24.05 million shares taking its total pledge to 13.42 percent of its total equity. On Feb. 10, the company had said its parent had pledged 37.
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General Motors nailed down a key piece of its North American restructuring plan on Sunday (8 March), reaching a tentative agreement with the Canadian Auto Workers (CAW) that trims hourly labour costs at its Canadian operations and meets demands from governments in the country that have been asked to bail out the company.
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Motherson Sumi Systems said today that it has completed the acquisition of Visiocorp Group for 25 million euros in cash and allotment of 5 percent of its shares worth 1.5 million euros.
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The free fall of Detroit 3 finance companies reflects a shift in the new-vehicle market to import brands and damage from the credit crunch, which has hit domestics especially hard. The new order looks durable.
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America's hinterlands face outsized economic pressures. Besides the credit crunch and nationwide recession, dealers in rural Midwestern areas confront a declining population.
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As February U.S. sales fell to the lowest annualized rate in 27 years, automakers are slashing production in a desperate effort to control inventories. Manufacturers will produce only 4.
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In the teeth of a recession that has forced hundreds of U.S. auto dealerships to close, a group of investors headed by entertainment magnate Robert Johnson is rapidly building a retail empire.
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At first glance it looked like any other Geneva auto show and#x2014; the industry's annual feel-good festival and luxury-car cabaret. Rolls-Royce makes its big splashes here and did so again with the 200EX.
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Even as General Motors explores the sale of Opel, it will tap its European unit as a source for future Buick sedans. For the past two years, GM has shared Opel vehicles and design with Saturn.
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General Motors has revealed to its parts suppliers a plan for rolling out a payment-assurance program that it hopes the federal auto task force will approve this month. GM would like to see up to $4.
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Mercedes-Benz will launch the E-class sedan and coupe in the third quarter with a marketing strategy similar to its approach for the just-launched GLK SUV.
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General Motors denied a weekend newspaper report its German unit Opel was preparing for insolvency. "This scenario is currently not on the agenda," a GM Europe spokesman told Reuters.
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General Motors factory workers in Canada will face a wage freeze through 2012, along with shorter vacations and higher contributions to benefit plans, under a tentative deal with GM Canada, the CAW said today.
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Continental's chairman Hubertus von Gruenberg quit today in a row with its biggest shareholder, Schaeffler Group.
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German Chancellor Angela Merkel said on Saturday that General Motors must improve the rescue plan for its German unit Opel if it wants government support for the struggling carmaker.
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BERLIN (Reuters) -- German weekly magazine Der Spiegel said on Saturday that Opel was threatening to close its German plants in Eisenach and Bochum as well as its Belgian site in Antwerp.
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Daimler and BMW plan a share swap to boost cooperation between the two automakers, the German magazine Der Spiegel said today.
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Audi is considering a North American comeback for its allroad quattro, an all-wheel-drive wagon with extra performance features that it dropped in 2005.
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The redesigned, third-generation Toyota Prius hybrid offers better fuel economy than its predecessor, options commonly found in premium cars and a slightly larger interior.
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