Japan's five largest domestic automakers on Thursday announced steep falls in their domestic sales, exports and global production in fiscal 2008/9 ended 31 March.
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There were few signs of the global economic crisis or tumbling car sales in western markets during the opening days of the Shanghai auto show this week.
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The Canadian Auto Workers union said today it was too soon to know if it will reach a last-minute cost savings deal with Chrysler LLC, but that it was pushing hard to get it done.
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A trek to Stuttgart was needed to feel the pain of one of Germany´s finest. Robert Bosch has been taking a bashing in the recession. The word was that the grand old boy of the auto component sector was going to own up to making a loss in the first quarter.
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The proposed partnership between Fiat and Chrysler has been thrown into a tailspin with revelations that the Italian carmaker has made a secret offer to purchase a majority stake in Opel.
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It could be second time lucky for an Opel-Fiat tieup, four years after their alliance break up, which cost General Motors $2 billion. What has changed to make it worth the two former partners getting back together again? In a word: Everything.
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Fiat on Thursday refuted a report in German magazine Der Spiegel that said it would acquire a majority stake in Opel.
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A common rite of passage is the cross-country road trip, the quintessential way for young Americans to get in touch with themselves and their country before the worries and responsibilities of life come calling.
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Hyundai Motor has posted a first quarter net profit down 43% to KRW225bn ($US167m) on sales down 23% to KRW6 trillion.
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Best spy shots yet show new Gullwing supercar is almost showroom-ready
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French car parts maker Faurecia is focusing on preserving cash and not planning any acquisitions in the crisis-hit sector, its head said today.
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Porsche denied on Thursday reports that its main shareholders planned to sell the group's sports car business to its Volkswagen unit as a way to relieve Porsche's debt burden. "This is nonsense," said spokesman Anton Hunger.
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Porsche denied on Thursday reports that its main shareholders planned to sell the group's sports car business to its Volkswagen unit as a way to relieve Porsche's debt burden. "This is nonsense," said spokesman Anton Hunger.
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Fiat Group Automobiles reported a lower-than-expected first quarter loss today. The company swung to a 30 million euros ($39.2 million) trading loss for its first quarter, compared with a 193 million euros ($252 million) profit a year ago.
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AutoNation Inc., the largest U.S. dealership group, today said it posted first-quarter net income of $34.6 million, despite U.S. light-vehicle sales rates at more than quarter-century lows. The net income, which compares with a $50.
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Continental plans to present investors with a new strategy within 100 days, chief executive Karl-Thomas Neumann said on Thursday.
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Ford has reportedly found a local supplier to produce engine blocks for its Indian assembly operations.
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While Volkswagen chief executive Martin Winterkorn praised cooperation with majority owner Porsche at the annual shareholders meeting today, media reports in Germany suggested VW was considering a takeover of Porsche.
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The governments of Canada and Ontario are in advanced negotiations to provide bankruptcy financing of as much as $6 billion for the Canadian operations of General Motors and Chrysler LLC, The Globe and Mail reported on its Web site,...
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