Ford Motor Co. plans to apply for a license to establish and operate a bank in Canada that would offer guaranteed investment certificates to institutional investors through brokers, the company said today.
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With the Mercury line gone, soon-to-be Lincoln-only dealers will attempt to get former Mercury customers to spend more for a luxury car, while Ford dealers will try to win over the same Mercury customers.
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Renault has confirmed it has submitted a letter of interest to purchase South Korean automaker Ssangyong in tandem with partner Nissan.
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Renault and Nissan aim to have a joint capacity to produce up to 500,000 electric vehicles by 2013.
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Striking workers have halted production at Hyundai Motor's Indian plant with the company saying it was seeking government intervention.
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Chrysler is recalling 600,000 vehicles spread out over five models for a wide range of problems. The potential issues are doors that could catch on fire, brake troubles and sticky accelerators, Reuters reports.
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Spanish car manufacurer's federation Anfac has slammed the government's failure to liberalise the country's ports services for the automobile industry, saying the measure will further affect its competitiveness.
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Chrysler Group LLC is recalling almost 575,000 Jeep sport-utility vehicles and Dodge and Chrysler minivans for brake line and wiring defects, U.S. safety regulators said.
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New vehicle sales in Vietnam increased by 7.1% year-year to 9,386 units in May, from 8,762 units a year earlier, according to data gathered by the Vietnam Automotive Manufacturers Association.
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Germany's economic steering committee at the economics ministry is due to meet this week to discuss Opel's request for EUR1.3bn (US$1.6bn) in loan guarantees.
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Car sales in Western Europe fell by 8.7% in May according to data released by JD Power Automotive Forecasting.
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COPY EDITOR CYNTHIA L. OROSCO: Being a former owner of a 1999 Taurus, I have to give props to Ford for the revamping. The new Taurus is a larger car, but all the good things remain in this incarnation.
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Spain's central government and the Aragon regional government will provide General Motors Co.'s Opel unit with 300 million euros ($358.2 million) in aid, the Aragon government said today.
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Spain's central government and the Aragon regional government will provide General Motors Co.'s European unit Opel with 300 million euros ($358.2 million) in aid, the Aragon government said on Monday.
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Saab Automobile AB is reinventing itself as an independent automaker.
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Renault SA confirmed it has submitted a letter of intent to buy South Korean SUV maker Ssangyong Motor Co., together with Japanese partner Nissan Motor Co. and South Korean subsidiary Renault Samsung Motors.
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Johnson Controls (JCI) has confirmed - in a one-sentence statement - that it remains interested in pursuing its proposal of acquiring assets of Visteon Corporation.
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Production of the two key European models at Hyundai Motor Co.'s Indian plant was halted by a strike by workers, the Indian unit of the South Korean carmaker said on Monday, adding it was seeking government intervention.
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