Auto News 5

Chinese automobile franchiser Zhongsheng Group aims to raise between US$800m and $1bn from a Hong Kong initial public offering in first quarter of 2010, sources close to the deal told Reuters on Tuesday. Full story...

Ford has completed the transfer of its UAW retiree health care liabilities to the UAW Retiree Medical Benefits Trust (VEBA Trust). Full story...

The world's second biggest truck maker Volvo will increase component sourcing from India by five times to $5 billion by 2015, Bertil Thoren, president of the Volvo Group Alliance Office, said on Tuesday. Full story...

After putting a hold on investment in the second stage if its Chennai plant venture with alliance partner Nissan, Renault insisted at the New Delhi show its "commitment to India remains undiluted" and promised to launch several new cars locally. Full story...

Extreme weather leaves dangerous pot holes plaguing the nation's roads

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Extreme weather leaves dangerous pot holes plaguing the nation's roads

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New car sales in Brazil posted a third straight record year in 2009, a source with knowledge of the official data told Reuters. Full story...

Honda Motor plans to use Indian steel sheet for the first time when it starts making its new small car line in India next year to lower costs, the Nikkei business daily reported today (5 January, 2010). Full story...

BMW Group remains at the mercy of currencies - and the US dollar in particular - according to an analyst who spoke to just-auto today. Full story...

Best spy shots yet reveal convertible's curvy new shape

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Toyota has named and unveiled its new Etios emerging markets car at the 10th Auto Expo automobile show in New Delhi. A couple of illicitly shot photos of a show car being positioned on its stand whizzed around the internet on Monday and were published worldwide. Full story...

Kia is extending its unique seven-year warranty, introduced first on the European-built Cee'd and Sportage models, to all its cars. Full story...

New car sales in Japan fell 9.3% in 2009 from the previous year to 4,609,255 units as the global recession took its toll, slipping below 5 million for the first time in 31 years, according to figures from the Japan Auto Dealers Association (JADA). Full story...

British race technology specialist Prodrive has teamed up with Indian company Opti Engineering to provide technical expertise to vehicle manufacturers based in the sub continent. Full story...

Honda Siel Cars India (HSCI) has chosen the country for the world premiere of a concept car for the first time - fitting as the New Small Concept previews a model being developed for emerging markets. Full story...

Mondragon Group, the world's largest workers' cooperative, has grown out of its historical Basque roots to comprise an organisation with global presence. It is also a significant player in the automotive industry components sector with cooperative firms manufacturing components, modules, machinery and tools. Oskar Goitia, MD of Mondragon's automotive division, tells just-auto editor Dave Leggett how the business is developing and staying true to its founding principles. Full story...

New car registrations in Germany fell 4.7% in December compared with the same month in 2008 to 215,400, according to the country's Association of International Motor Vehicle Manufacturers, or VDIK. Full story...

Maruti Suzuki is planning exports of 130,000-140,000 vehicles in the current fiscal year although it said that it expects a slow down over the next year as sales incentives are removed in European markets. Full story...

Volkswagen aims to become a significant player in the Indian small car market with the launch of new models and through links with local manufacturers. Full story...

Volkswagen aims to become a significant player in the Indian small car market with the launch of new models and through links with local manufacturers. Full story...