GM Daewoo Auto and Technology, the South Korean unit of General Motors, swung to a $663.7 million net loss in 2008, as massive foreign exchange bets to hedge overseas sales turned sour on a weaker won and declining exports, the company said today.
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We're cruising through Beverly Hills, Calif., in the new 2009 Infiniti G37 convertible, top down, sunny day, following a beautiful Ferrari 360 Modena. Up next to us pulls a 40-ish woman with hair so orange it could be on a traffic cone.
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Moody's Investors Service said it still sees a 70 percent chance of bankruptcy for Detroit's automakers, given the difficulty of winning sweeping concessions from creditors out of court.
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Moody's Investors Service said it still sees a 70 percent chance of bankruptcy for Detroit's automakers, given the difficulty of winning sweeping concessions from creditors out of court.
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Volkswagen will overtake General Motors this year as the world's second largest automaker by volume, market research company RL Polk Germany has said.
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BMW is cautiously optimistic about the rest of 2009 because of a less severe decline in its global sales last month. "The 17.2 percent decrease in March was smaller than in previous months," BMW sales boss Ian Robertson said in a statement today.
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Premier Dalton McGuinty has said the Ontario provincial government, which is facing a record C$14.1bn deficit this year, will not provide direct aid to its ailing auto parts makers.
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American car giant General Motors and scooter manufacturer Segway have joined forces to develop a new two-seat electric vehicle for urban streets.
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Stunning drop-top teased ahead of New York Motor Show launch
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It's based on the same driving principles as a skateboard, and it looks like a phone booth, or perhaps a baby stroller. But General Motors says a two-seat, two-wheel ride called PUMA could help loosen congestion in crowded urban areas.
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It's based on the same driving principles as a skateboard, and it looks like a phone booth, or perhaps a baby stroller. But General Motors says a two-seat, two-wheel ride called PUMA could help loosen congestion in crowded urban areas.
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It's based on the same driving principles as a skateboard, and it looks like a phone booth, or perhaps a baby stroller. But General Motors says a two-seat, two-wheel ride called PUMA could help loosen congestion in crowded urban areas.
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Tata Motors has said it is in discussion with its lenders to refinance the remaining portion of the US$3bn bridge loan it has taken to fund its acquisition of Jaguar Land Rover.
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The European Investment Bank (EIB) on Tuesday approved loans worth EUR866m to European-based car makers to help design and build cleaner cars with lower CO2 emissions.
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Tata Motors dealers have sold over 51,000 forms for the Nano in just five days since they became available from April 1, according to Indian media sources.
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Keith Wandell, the president of auto-parts supplier Johnson Controls Inc., has resigned to lead motorcycle maker Harley-Davidson Inc. Wandell, who is also COO of Johnson Controls, will take over from Harley president and CEO Jim Ziemer on May 1.
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Keith Wandell, who in December told Congress that the supply chain would "implode" if a Detroit automaker went bankrupt, is resigning as president of supplier Johnson Controls Inc. to head iconic motorcycle maker Harley-Davidson Inc.
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Nissan, Land Rover and Volkswagen will receive 866 million euros ($1.2 billion) worth of loans to develop cleaner cars, the European Investment Bank said Wednesday.
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The Czech Republic's car importers' association has said that falling demand for company cars has helped to push new registrations down by a year-on-year 16.4% in the first three months of the year.
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Mitsubishi Motors Corporation's (MMC) Canadian subsidiary has signed a deal with the the Government of British Colombia, the City of Vancouver, power company BC Hydro, and Mitsubishi Canada Limited for feasibility testing of the zero-emissions i MiEV 1 electric vehicle.
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