Jul
29th
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Ssangyong Motor's labour union and management agreed Wednesday to resume bilateral dialogue on Thursday (July 30). Full story...
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Jul
29th
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General Motors and finance unit GMAC are expected to resume leasing cars as early as Saturday (1 August) after being out of the leasing market for a year, the Wall Street Journal reported, citing sources familiar with the matter. Full story...
Jul
29th
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The revised Magna bid submitted to General Motors for Opel "contained elements around intellectual property and our Russian operations that simply could not be implemented", the automaker's top negotiator reported through the somewhat unusual medium of a website blog. Full story...
Jul
29th
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Wolfgang Leimgruber was named Porsche AG's head of the production and logistics Wednesday. Leimgruber, 59, succeeds Michael Macht, who was promoted to Porsche CEO last week following the departure of Wendelin Wiedeking. Full story...
Jul
29th
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Indebted Porsche Automobil Holding SE expects to post a pretax loss of up to 5 billion euros ($7.1 billion) for its current fiscal year due to an expected non-cash book loss from the sale of cash-settled options in Volkswagen AG stock. Full story...
Jul
29th
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Timken on Wednesday confirmed Japan's Jtekt as the buyer of its auto OEM-focused needle roller bearings business for US$330m cash. Full story...
Jul
29th
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Russian magnate Oleg Deripaska's indebted carmaker GAZ will restructure its debt with Alfa-Bank, allowing it to sign agreements with all creditors, the bank said on Wednesday. Full story...
Jul
29th
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Timken Co. reported a larger-than-expected second-quarter loss on slack demand for its industrial bearings and specialty steel, and warned it expected to record a loss for the full year. Full story...
Jul
29th
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General Motors Co. says a bid for Opel from Magna International faces hurdles while a rival offer from Belgian investor RHJ International would be easier to accept. Full story...
Jul
29th
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Porsche's works council want the disputed 'VW law' to be applied in full to the sports car maker, the Stuttgarter Zeitung newspaper reported on Wednesday. Full story...
Jul
29th
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Automotive and defence group Rheinmetall will establish a joint venture (JV) for the production of aluminium cylinder blocks. Full story...
Jul
29th
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Volkswagen expects a gradual revival in commercial vehicle demand but no drastic changes, the division head has said. Full story...
Jul
29th
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Honda Motor Co. said it is recalling more than 300,000 of its 2001 U.S.-built Accord and Civic cars in the United States and Canada to fix airbags made by Takata Corp. Full story...
Jul
29th
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Honda Motor first fiscal quarter net income plunged 96% to JPY7.5bn (US$79m), after revenue fell 30% to JPY2.002 trillion ($20.85bn) as vehicle sales dropped and currency effects hit, but has raised its full-year forecast. Full story...
Jul
29th
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Penske Automotive Group Inc. today said it posted a 63 percent decline in quarterly profit as the recession hurt consumer demand for new vehicles. The second-largest U.S. Full story...
Jul
29th
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Daimler today put the most positive spin it could on its second quarter results, avoiding initially mentioning a horrendous year on year comparison by saying the second three months of the year turned out better than the first. Full story...
Jul
29th
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Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss. Full story...
Jul
29th
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Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss. Full story...
Jul
29th
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Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss. Full story...
Jul
29th
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Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss. Full story...