Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency.
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Global automobile markets will not pass through the worst of the recession until the second half of 2009 at the earliest, Daimler chairman Dieter Zetsche told the annual general meeting in Berlin today, adding that the automaker was preparing for a distinct decline in business volumes this year with revenue "likely to be significantly lower than in the prior year in all automotive divisions and further substantial burdens on group earnings anticipated".
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GT version of bold new Citroen is getting ready to turn up the temperature in the hot hatch class
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Ssangyong has confirmed earlier reports of big job cuts and has said it will cut 2,646 jobs, or about 37% of its total workforce, as part of its new survival plan.
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Daimler AG, which is struggling with a slump in sales of its Mercedes-Benz cars and trucks, warned shareholders today that it might face a writedown if Chrysler, its former US subsidiary, were to go bankrupt.
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General Motors China sales in March rose 24.6% year on year to a monthly record of 137,004 vehicles as government stimulus policies kicked in.
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A new scrappage scheme in Slovakia boosted car sales in March, though not at the spectacular rates of 21% and 40% respectively seen in Germany in February and last month after a similar scheme was launched there.
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Data released by the Moscow-based AEB says that sales of new passenger cars and LCVs in Russia decreased by 47% year-on-year to 135,446 units in March.
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Magna International is considering setting up an integrated manufacturing facility in India for all but one of its 10 business divisions, the exception being car top systems.
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Volkswagen AG could launch the Up! mini-car in the United States, the German automaker's U.S. CEO Stefan Jacoby said today. "Up! could be in the future of the market here," Jacoby said at the New York Auto Show.
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Volkswagen AG is considering selling its Up minicar brand in the United States, says Stefan Jacoby, CEO of Volkswagen Group of America.
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UK distribution specialist XPart on Wednesday said it was continuing to ensure the ongoing supply of MG Rover parts four years after the closure of the Longbridge factory by working with Nanjing Automobile, which now owns the brand.
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Acura calls the ZDX prototype a luxury four-door sports coupe. Others may call it a five-door hatchback.
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First official images of stunning new gullwing model from AMG.
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Mercedes kicks off the action at this year's New York Motor Show
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Opel does not expect its pension obligations will be an obstacle to a sale, the German carmaker owned by General Motors said on Wednesday.
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Acura is the latest carmaker attempting to redefine the coupe with the debut of the ZDX prototype at the New York auto show.
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GAZ plans to lay off about 4,000 employees at its facilities in the Nizhny Novgorod Region in July, the company's press office has said.
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