It turns out dealers will have to pay taxes on the thousands of dollars in rebates they receive under the federal cash-for-clunkers program, according to an IRS advisory bulletin issued today.
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The pension plan covering 10,770 employees of bankrupt auto supplier Metaldyne Corp. has been taken over by the federal government's Pension Benefit Guaranty Corp., the company said today.
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Harley-Davidson dealer Bruce Rossmeyer died in a motorcycle accident Thursday morning in Wyoming.
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Honda Motor Co. said on Friday that it is recalling another 440,000 vehicles -- including some of its best-selling Accord and Civic models -- for a potentially lethal airbag defect.
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The National Automobile Dealers Association today cautioned members that they face risks if they go ahead with cash for clunkers deals before federal funding has been assured.
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Chrysler Financial said today it has adequate funds to continue as an independent finance company writing standard retail auto loans. The company is not pursuing a multibillion dollar funding arrangement that was up for annual renewal in August.
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Brian Godfrey, general manager of Pat Milliken Ford in suburban Detroit, is glad he had plenty of vehicles in stock, especially Ford Fusions, Focuses and Escapes.
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In today's News Brake: The cash-for-guzzlers program sputters; Schumacher begins comeback training; and Ford sticks with its World Rally program ... But Wait, There's More!
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Denso Corp. swung to a loss in the quarter ended June 30 as sales tumbled in the wake of vehicle-production cuts in its major markets. But the world's second-largest auto-parts maker also predicted its loss in the six months to Sept.
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The House passed legislation to inject $2 billion into "Cash for Clunkers" after the administration reported that the $1 billion federal program was running out of money shortly after it began.
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The House passed legislation to inject $2 billion into cash for clunkers after the administration reported that the $1 billion federal program was running out of money shortly after it began.
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The House passed legislation to inject $2 billion into the cash for clunkers program after the administration reported that the popular $1 billion federal incentive was running out of money shortly after it began.
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The 'cash for clunkers' scrappage scheme launched only this week in the US has been so successful that the government is today considering extra funding.
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General Motors' UK unit Vauxhall has denied hiking prices ahead of the government's scrappage scheme as claimed by consumer organisation Which?
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Chrysler Group plans to stick with its "Double CA$H for Your Old Car" national incentive campaign over the weekend, spokeswoman Kathy Graham said today. Chrysler rolled out the campaign on July 22 and told dealers it would run through August 31.
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A bill to provide the depleted cash-for-clunkers program with another $2 billion was introduced on the House floor today by House Appropriations Committee Chairman David Obey, D-Wis., a spokesman for the congressman said.
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Nissan continued its drip feed of electric vehicle (EV) news this week with the announcement of its EV platform under a Tiida (Versa) body shell. Be still thy beating heart, all will be revealed on Sunday in Yokohama when the first car to be mounted atop aforesaid platform finally breaks cover.
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Subaru maker Fuji Heavy Industries has maintained its forecast for a full year deficit having reported a heavy loss in its first fiscal quarter.
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