Porsche will take longer than expected to reach a merger agreement with German partner Volkswagen AG, a Porsche spokesman said on Friday.
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SsangYong Motor (SYMC) today cleared a significant hurdle in its restructuring plans when a South Korean court gave its approval to put the plans into action.
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It's a bank holiday here in the UK and that means a three-day weekend. We'll see you again on Tuesday (26 May).
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Creditor banks are set to take big stakes in tire maker and auto parts group Continental AG once it integrates the operating business of Schaeffler, whose daring bid to buy its bigger peer backfired, sources close to the matter said.
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A highlight of the week was to break off from all the GM/Chrysler/Fiat/Magna/GAZ etc hullaballoo for just one day and make our annual trip to the toy shop.
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Toyota has unveiled the new Camry hybrid in Thailand, with deliveries to start in August.
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Volkswagen today began accepting advance orders for its 'sixth generation' Golf Estate [aka Jetta wagon] today (22 May) though the revamp is largely a new nose for the previous body shell which was all-new last time around and new tail lights and rear bumper.
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"The [US] automotive industry cannot support the number of dealers currently in the marketplace. From 1990 until 2007, the industry averaged roughly 16m new vehicles sold each year. In 2009, new vehicles sold are expected to be 10.5m units," Chrysler sales and marketing chief Steven Landry said, as the company provided more detail of its thoughts over the 'rejection' of some 789 dealers.
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The first corner you exit flat-out in the new Ford Focus RS signals that this is a very special car.
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The first corner you exit flat-out in the new Ford Focus RS signals that this is a very special car.
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Used-car sales took a leap upward in April, and the trend is expected to continue at least until midyear as pent-up demand for affordable pre-owned vehicles jacks up at least one segment of the car marketplace.
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Fiat and Magna are serious bidders for Opel and there are few other credible offers on the table, Global Insight analyst Tim Urquhart said in a research note on Friday.
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Magna International Inc., Canada's largest auto-parts supplier, said on Friday that under its plan for General Motors' Opel unit, GM and Russian partners would each hold 35 percent stakes, while Magna would take 20 percent and employees 10 percent.
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Magna International Inc., Canada's largest auto-parts supplier, said on Friday that under its plan for General Motors' Opel unit, GM and Russian partners would each hold 35 percent stakes, while Magna would take 20 percent and employees 10 percent.
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Exclusive images from the opening day of MINI's birthday bonanza
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Exclusive images from the opening day of MINI's birthday bonanza
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German Chancellor Angela Merkel and Roland Koch, leader of Opel's home state of Hesse, were due to meet today (22 May) to discuss the three bids submitted on Wednesday for the General Motors' division.
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General Motors has agreed concessions with the United Auto Workers (UAW) union and is now racing against the clock to persuade bondholders to eliminate US$27bn in debt and avoid a bankruptcy filing.
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Russian carmaker GAZ is not looking to acquire a stake in Opel if Canada's Magna International wins the race for Germany's carmaker, the firm said on Friday. Magna is bidding for Opel in alliance with GAZ and Russia's largest bank, Sberbank.
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