Opel's senior labor leader, Klaus Franz, today welcomed Fritz Henderson as new CEO of parent General Motors. "The move was overdue," Franz said, referring to the resignation of the previous GM CEO Rick Wagoner.
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General Motors' Opel unit faces a further two months uncertainty after President Obama's auto task force pledged to fund parent GM's operations only for the next 60 days.
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General Motors' Opel unit faces a further two months uncertainty after President Obama's auto task force pledged to fund parent GM's operations only for the next 60 days.
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Although it expects to be profitable this year, German cylinder head gasket maker ElringKlinger wants to slash its dividend in response to narrowing margins. "ElringKlinger cannot rule out that Group sales recede toward 500 million euros.
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Departing PSA/Peugeot-Citroen CEO Christian Streiff defended his record at the French carmaker after being fired on Sunday by the company's board. Streiff said his policies had allowed the PSA group to be "well equipped to face the crisis."
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General Motors and Chrysler LLC will each be given capital and time to accelerate their attempts to restructure and survive, according to a government aid plan set for release today.
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Influential Wisconsin megadealer John Bergstrom will close four of his six Saturn stores by April 15 and#x2014; a sign that even General Motors' biggest and best-connected retailers see little hope for the brand.
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General Motors has mandated Commerzbank to help find a new investor for its Opel unit, a source said. A person with knowledge of the process told Reuters: "Commerzbank has received a mandate from GM."
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Asbury Automotive Group and Sonic Automotive Inc. are threatened by mounting debt. Sonic's troubles appear more dire.
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General Motors CEO Rick Wagoner resigned under pressure from the Obama administration as the government rejected the viability proposals of GM and Chrysler LLC. Wagoner, a career GM executive and CEO since 2000, stepped down as the top U.S.
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Here are some reactions to the resignation of GM Rick Wagoner. In a statement, Wagoner said he stepped down at the request of the White House officials on Friday.
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Chrysler LLC's proposed alliance with Fiat S.p.A. could lead to production of Fiat-based models in as many as three Chrysler plants in North America. The factories in line for more work are Toluca, Mexico; Sterling Heights, Mich.; and Belvidere, Ill.
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Germany's economy minister said on Sunday that there were a host of investors interested in General Motors' Opel unit, but warned they could not expect Berlin to assume all the financial risks linked to the company.
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At a time when big SUVs are doing even worse than the calamitous overall market, Land Rover's iconic Range Rover model is hanging in there. It's the British brand's smaller and newer LR2 crossover that isn't working out.
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Purchasing chiefs Bo Andersson at General Motors and Scott Garberding at Chrysler LLC have a new carrot, or maybe a stick, to work with restive suppliers: $5 billion in federal aid that the two automakers get to dole out.
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Nissan North America could launch U.S. retail sales of electric vehicles as early as 2010 -- two years sooner than expected.
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Ken Zangara is in hot water. The well-connected New Mexico Dodge dealer closed his store last month because of collapsing sales.
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Chrysler LLC will chop its production by almost 60.0 percent in the second quarter, one forecaster predicts. That puts the company at the forefront of the industry's production cutbacks, as automakers continue to slash output to match tumbling sales.
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For 13 years, prosecutors say, a Tennessee auto dealer with a phony investment offer enjoyed a five-star lifestyle with his brother-in-law's money. Then, last summer, things began to unravel.
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General Motors CEO Rick Wagoner has resigned under pressure from the Obama administration as the government prepares to announce today a second bailout for the company and Chrysler LLC.
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