GM CEO Fritz Henderson stuck to a theme in announcing a third-quarter loss after exiting bankruptcy and in outlining plans to repay U.S. loans early: Things are looking better, but we've got a long way to go.
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General Motors Co. posted a $1.15 billion loss during the third quarter after its exit from bankruptcy and said reduced costs and strengthening sales would allow it to begin repaying $6.7 billion in U.S. loans.
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GM will announce today it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
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GM announced today it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements.
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Previous German pledges to provide state aid to carmaker Opel no longer apply now that General Motors Co. has said it can restructure its European arm alone, German Economy Minister Rainer Bruederle said.
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Previous German pledges to provide state aid to carmaker Opel no longer apply now that General Motors Co. has said it can restructure its European arm alone, German Economy Minister Rainer Bruederle said.
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From behind the wheel, the production version of the Nissan Leaf electric car is smooth and silent, feels nearly friction-free and offers all the prodigious torque inherent in an electric car.
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Mazda unveiled the new locally-made Mazda 2 sub-compact in Thailand on Monday, produced at the AutoAlliance (Thailand) plant in Rayong. The model is fitted with a 1.5 litre petrol engine and is compatible with the E20 petrol-ethanol fuel blend.
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French tiremaker Michelin SA said on Monday it would invest 40 billion rupees ($870 million) to build a tire manufacturing unit in the southern Indian state of Tamil Nadu.
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European passenger-car sales rose 11.2 percent in October, with a marked contrast between western European markets, which grew strongly, and eastern European markets which tumbled, industry association ACEA said on Monday.
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European passenger-car sales rose 11.2 percent in October, with a marked contrast between western European markets, which grew strongly, and eastern European markets which tumbled, industry association ACEA said on Monday.
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Beijing Auto has unveiled its first self-developed electric car, joining domestic rivals to tap potential demand for clean energy cars.
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Beijing Automotive Industry Holding Corp (BAIC) has unveiled its first self-developed electric car, joining domestic rivals to tap potential demand for clean energy cars. BAIC, a partner of Daimler AG and a failed bidder for General Motors Co.'
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Ford Motor Co. has resolved its workload dispute with workers at its assembly plant in suburban Kansas City, Mo., a spokeswoman said, as local employees wrapped up voting to authorize a strike.
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Ad agency BBDO is closing its Detroit office after losing its Chrysler contract. Come February, the branch's 485 employees will plunge into Detroit's struggling economy with little hope of automotive work.
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Jaguar Land Rover wass expected to announce on Monday that it has secured 170 million pounds ($282.5 million) in working capital from GE Capital, the Financial Times newspaper said.
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Hyundai-Kia's share gains have overwhelmed rivals this year, and the climbing yen and South Korea's export-friendly trade pacts are giving Japanese automakers even more worries.
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Akio Toyoda has appointed himself supreme automotive taste tester for Toyota Motor Corp., a kind of master chef overseeing ingredients that go into the automaker's vehicles.
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Toyota Motor Corp. will soon offer to fix the accelerator pedals of up to 4 million vehicles in the United States that are subject to the company's largest ever safety recall, Kyodo News reported.
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Jaguar Land Rover wass expected to announce on Monday that it has secured 170 million pounds ($282.5 million) in working capital from GE Capital, the Financial Times newspaper said.
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