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May
29th

US: Government plans GM Ch11 PR offensive

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The Obama administration has estimated that a General Motors bankruptcy would take at least 60 to 90 days and perhaps longer to complete and is also planning an extraordinary offensive beginning on 2 June of sending senior officials to Midwest communities most affected by job losses and other aspects of GM and Chrysler bankruptcies. Full story...
May
29th

US: GM close to bankruptcy pre-package

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General Motors last night finalised a pre-packaged bankruptcy that would give the US government up to 72.5% and improved the offer to bondholders. Full story...
May
29th

VENEZUELA: Government moves to stamp out car price hikes

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Venezuela's National Assembly is set to outlaw profiteering in the country's auto industry next week, according to the Bolivarian News Agency. Full story...
May
29th

CHINA: Chery launches auto finance unit

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Chery Auto has now set up an auto finance company in an alliance with a local regional bank, becoming the first domestic carmaker to do so. Full story...
May
29th

RUSSIA: VEB bank may fund engine projects

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Russia's state-owned Vnesheconombank (VEB) bank could be about to approve the financing of diesel engine projects for both Kamaz and GAZ. Full story...
May
29th

UK: Toyota holds prices for new Prius

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Although prices have been reduced in Japan, and one existing model carried over, Toyota GB is holding current on-the-road prices for its third generation Prius T3 and T Spirit models while boosting the specification and price of the top T4 version. Full story...
May
29th

JAPAN: Toyota May sales off 25%

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Toyota Motor sales in Japan so far in May were down roughly a quarter from the same period last year, company president Katsuaki Watanabe has said. Full story...
May
29th

JAPAN: GM bankruptcy impact ‘limited’ – minister

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Impact from the likely bankruptcy of General Motors would be limited on Japanese firms if the US government prepared a safety net, a senior industry ministry official has said. Full story...
May
29th

JAPAN/FRANCE: Nissan, Renault, reinforce alliance

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Renault and Nissan have identified the potential to save a further EUR1.5 bn (US$2.1bn) by working even closer together, CEO Carlos Ghosn said. Full story...
May
29th

US: Consumer demand returning slowly

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This month's US new vehicle sales (including fleet sales) are expected to be 890,000 units, a 36.1% decrease from May 2008 but an 8.9% increase from April 2009, according to Edmunds.com. Full story...
May
29th

GERMANY: Bankruptcy for Opel possible – analyst

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An analyst says that failures to find agreements on the future of GM's European operations have raised the likelihood of Opel having to file for insolvency. Full story...
May
29th

GERMANY: Carbon ceramic brake JV launched

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A new German-Italian joint venture making carbon ceramic brake discs and systems has been launched, following the granting of competition approval by the European Commission. Full story...
May
29th

GERMANY: Last chance today for Opel

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Germany and the United States today have possibly their last chance to save Opel and agree a plan to shield the carmaker from the all but inevitable bankruptcy of parent General Motors. Full story...
May
29th

GERMANY [updated 11:20BST]: Last chance today for Opel

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Germany and the United States today have possibly their last chance to save Opel and agree a plan to shield the carmaker from the all but inevitable bankruptcy of parent General Motors. Full story...
May
29th

British car scrappage scheme boosts sales by 35,000

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Britain's car scrappage scheme has boosted sales by 35,000 vehicles since its introduction in April, the government said on Friday. British car sales have been falling sharply this year as the recession has cut into household and business budgets. Full story...
May
29th

Delphi may sell assets to emerge from Chapter 11

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Auto parts supplier Delphi Corp. Full story...
May
29th

Report names 3 possible Saab buyers as carmaker wins more time to restructure

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A Swedish court on Friday granted General Motors' loss-making unit Saab a further extension to its protection from creditors as a local newspaper named carmaker Koenigsegg, the Renco Group and Fiat S.p.A as potential buyers for the brands. Full story...
May
29th

3 Saab bidders named as restructuring is extended

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A Swedish court today granted General Motors' money-losing Saab unit a further extension to its protection from creditors as a local newspaper named carmaker Koenigsegg, the Renco Group and Fiat S.p.A. as potential buyers for the brands. Full story...
May
29th

Report names 3 possible Saab buyers

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A Swedish court on Friday granted General Motors' loss-making unit Saab a further extension to its protection from creditors as a local newspaper named carmaker Koenigsegg, the Renco Group and Fiat S.p.A as potential buyers for the brands. Full story...
May
29th

Report names 3 possible Saab buyers as carmaker wins more time to restructure

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A Swedish court today granted General Motors' money-losing Saab unit a further extension to its protection from creditors as a local newspaper named carmaker Koenigsegg, the Renco Group and Fiat S.p.A. as potential buyers for the brands. Full story...
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