Volkswagen said it will invest about 51.6 billion euros (nearly $71 billion) in its automotive division in the next five years as it aims to pass Toyota as the No. 1 global automaker in sales and profitability by 2018.
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GM sold a $500 million stake in its initial public offering to Chinese partner SAIC Motor Corp., cementing ties that have helped the American company boost sales in the world's largest auto market. SAIC bought the 0.
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Toyota will launch an electric version of its iQ minicar in 2012, targeting urban commuters who drive short distances.
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Steven Rattner, former head of the U.S. autos task force, is seeking damages from Quadrangle Group LLC, the private equity firm where he previously served as managing principal.
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European battery producer Saft and its automotive partner Johnson Controls are in talks with a number of local companies to enter the Chinese market for electric vehicles.
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Alfa Romeo's selling price dropped by 80 percent this week to 20 billion euros.
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Honda, the only automaker currently selling a natural gas-powered car to U.S. consumers, plans to expand sales to most of the 50 states next year, up from four now, U.S. Executive Vice President John Mendel said.
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Wheego Electric Cars plans to launch sales across the United States in mid-December, despite lacking the Environmental Protection Agency certification that is needed to begin.
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Executives for the Smart and Mini small-car brands expect interest in the U.S. subcompact segment to heat up with the arrival of the Fiat 500 from Italy.
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Porsche may develop a small SUV and a sports car smaller than the Boxster as it aims to double worldwide sales in the next three years.
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Hyundai, which cut into Toyota's and Honda's U.S. midsize-sedan sales this year, aims to increase its share of the small-car market with a more fuel-efficient, restyled 2011 Elantra.
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President Barack Obama said General Motors Co.'s return to the stock market shows the U.S. auto industry is on the rise and will result in taxpayers getting their money back from a government bailout.
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The strong demand for General Motors shares that emerged from U.S.
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General Motors Co.'s $20 billion initial public offering will benefit creditors of the former GM, who made about $5 billion on the IPO and can buy millions of new shares for as little as a third of today's price.
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Porsche may develop a small SUV and a sports car smaller than the Boxster as it aims to double worldwide sales in the next three years.
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Volkswagen of America will need to expand its dealer network after 2014, said Jonathan Browning, Volkswagen Group of America's CEO. The extra dealers will be needed to achieve VW's goal to sell 800,000 units annually in the United States by 2018.
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It all comes down to this. After 35 races featuring 10,511 grueling laps of racing, the final 267 laps at Homestead-Miami Speedway will determine the 2010 NASCAR Sprint Cup Series champion.
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The author of a newspaper column erroneously attributed to former two-time F1 World Champion Mika Hakkinen has been dismissed.
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The Design Challenge is among the most popular car design contests in North America. Now in its 7th year, the theme for the 2010 Design Challenge is to envision a lightweight, four-passenger vehicle that is comfortable, that delivers satisfactory driving performance with sacrificing styling. And most importantly, the vehicle must not exceed 1,000 pounds. Quite a challenge indeed.
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The DTM series is now looking for a new tire supplier to replace Dunlop after 11 years of collaboration.
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