Chrysler Group has agreed a deal with the shell company holding its old assets to acquire a Sterling Heights, Michigan, assembly plant for US$20m, US Bankruptcy Court documents showed.
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Chrysler is prepping to name SapientNitro its digital agency of record for all automotive brands, replacing Omnicom Group's Organic, executives familiar with the matter told Advertising Age on Thursday.
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Bridgestone Corp has reported a fall in full year net profits. However, the tyremaker has already said that it is looking to recover in 2010.
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Russian investor Vladimir Antonov, ousted from a deal by Dutch luxury sports car maker Spyker to buy Saab from General Motors Co., said he was still lending to Spyker and wanted to remain a co-owner of the group.
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Further financial details have emerged from Italy concerning proposals to save the threatened Fiat group Lancis Ypsilon assembly plant at Termini Imerese in Sicily. According to a spokesman for union conglomerate Fiom-Cgil, Sicilian authorities and the Italian government have put forward a possible rescue package totalling EUR450m (US$610m) although nothing has been definitively decided.
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Tyre production in Russia tripled in January, local sources have said today. The news comes on the back of statistics that show Russian vehicle production soared 91.9% year on year to 44,257 units in the month.
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The provinsional administrator of car assembler IzhAvto believes the company's creditors should introduce an external management team at the bankrupt Russian group. It has also been recommended that IzhAvto not be sold off piecemeal.
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Toyota chairman Akio Toyoda last night performed a U-turn, telling a press conference in Japan he would go to Capitol Hill after suggesting earlier he would leave the lawmakers' planned grilling over massive recalls to US executives. The Japanese government subsequently criticised Toyoda for not being more decisive on whether to face the US Congress.
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Honda is studying development of a small diesel engine for Europe and India.
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Toyota Motor Manufacturing UK (TMMUK) is to stop production at its Derbyshire car assembly and Deeside engine plants for a further week as European sales slow.
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Toyota Motor on Thursday promised to do all it could to regain customer confidence in the wake of massive recalls in full-page newspaper ads published in the US.
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General Motors expects its new plug-in Chevrolet Volt/Opel Ampera hybrid to become a worldwide phenomenon.
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Volkswagen Czech Republic unit Skoda Auto is working on a new model to fit between its small Fabia and Octavia family sedan, according to a local report.
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Honda Motor is closer to developing a new hybrid system for larger cars, according to the company's head of automobile research, Tomohiko Kawanabe.
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German's competition authorities are to scrutinise Magna International's planned purchase of the convertible roof business of insolvent rival Karmann.
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Hottest ever hatch from Citroen gets set to blast off with 200bhp engine.
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Italian design house Bertone returns to the Geneva auto show after a two-year absence with an Alfa Romeo concept which is a true dream car, with no plans for production.
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More details have emerged about a low-cost family sedan planned by Skoda to compete against the successful Logan, which is produced by Renault's Dacia subsidiary.
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Germany is irritated by the European Commission's latest comments on state aid for Opel, deputy German Economy Minister Jochen Homann said.
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Honda Motor Co. has taken a big step towards developing a new hybrid system for larger cars, its head of automobile research and development said on Friday, indicating a finished product could be about three years away.
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