General Motors, which is preparing for a 40 percent cut in its dealer network by the end of 2010, this week will send warning letters to nearly 1,000 dealers, sources told Automotive News today.
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Seating and electronics supplier Lear Corp. has reached an agreement with lenders that give it until June 30 to restructure its debt-heavy balance sheet, the company said today.
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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A cost-cutting deal between the Canadian Auto Workers and General Motors that was reached in March is no longer sufficient to ensure the viability of GM's Canadian operations and more cuts are needed, Industry Minister Tony Clement told Reuters...
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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Auto dealers lobbied Congress today to try and slow plans by General Motors and Chrysler LLC to cut their ranks. "A rapid cut of dealers is a bad idea," John McEleney, chairman of the National Automobile Dealers Association, said in statement.
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About 150 auto dealers from around the country fanned out across Capitol Hill today in a last-ditch effort to get lawmakers to try to slow planned cuts by General Motors and Chrysler LLC.
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Ireland's economy is now something of a far cry from the high-growth 'Celtic Tiger' era that marked much of the last two decades. A property-based speculative bubble burst in 2007 and a viciously sharp contraction to the economy followed.
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Nissan Motor's fourth quarter fiscal year loss will result in a negative charge estimated at EUR1,151m against Renault's first-half 2009 net income.
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One thousand miles of history kicks off Thursday in Italy with another revival of the storied Mille Miglia, an event that attracts hundreds of historic racers and car lovers from around the world.
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In today's News Brake: Opel rolls out the redesigned Astra, which might hold something for us in the United States; Ford cashes in with a stock sale; and we get a look at what might be a redesigned Ford Ranger truck ... But Wait, There's More!
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In contrast to Toyota's gloomy expectation of cutting output 28% worldwide this year, Honda Motor has said it is moving to raise output - albeit only at home in Japan for now - anticipating a demand surge there if a bill to offer consumers cash to replace old cars becomes law.
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Hungarian car and truck parts maker Raba expects 2009 sales revenues to exceed 40bn forints (US$194.3m) and projected that earnings before interest, taxes, depreciation and amortisation (EBITDA) would be between 3bn and 5bn forints.
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Audi has unveiled the first official pictures of its new baby hatchback in concept form. Check out all the pictures here.
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GM is reportedly planning to export vehicles made at its China joint ventures to the US.
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Bosses at Audi have revealed that convertible off-roader could hit showrooms within three years.
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New scrapping schemes in the U.K. and Spain could add 400,000 new-car sales in the two countries this year, says a top European Ford executive.
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Chrysler will offer new buyouts to workers at seven of its eight US plants slated for closure under its bankruptcy plans, the United Auto Workers union has said.
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With General Motors planning to end production of Saturns and Pontiacs at its Delaware plant which employs more than 1,000 people, state leaders are scrambling to win new work at the plant or persuade the company to move other operations to the...
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ThyssenKrupp, Germany's No. 1 steelmaker and a major supplier to the auto industry, has approved a controversial restructuring plan that it said would make the company leaner and better prepared to weather the global economic crisis.
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