The dark cloud that hangs menacingly over Detroit seemed light-years away on Monday, Nov. 17, as Honda Motor Co. CEO Takeo Fukui celebrated the opening of an assembly plant in Indiana
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As recently as this summer, Larry Merriam bought about 60 used vehicles at auction each month to stock his three Hyundai and Mitsubishi dealerships in Connecticut. Today he buys no more than 10 a month.
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After the dismal reception Washington lawmakers gave Detroit 3 CEOs and UAW President Ron Gettelfinger last week, I found myself saying, "This isn't the way Lee Iacocca did it in 1979.'
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A bankruptcy filing by a Detroit 3 automaker would kill many of its dealerships quickly even if the company successfully reorganizes, dealers' lawyers predict.
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Could GM, Chrysler or Ford survive a bankruptcy filing? Could the domestic industry? The CEOs of the Detroit 3 answered with an emphatic "no" last week when some Washington lawmakers broached bankruptcy and#x2014; even a quick, prepackaged one...
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As Volvo's new regional president for European sales, Stuart Kerr wants to improve sales and profitability at the Swedish brand. To do that he has to halt the company's sales decline and help the brand move up-market quicker.
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If General Motors files for bankruptcy in the US, the outlook for its European brands varies from good to grim. Opel, GM Europe's biggest European brand, is considered at risk. Meanwhile, most observers say the Saab brand's future appears bleak.
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A collapse of General Motors would leave its European operations -- led by Opel -- in need of a need a partner or new owners to survive. But who would that be?
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Ford of Europe will remain profitable next year despite an )x("",unprecedented economic downturn, its boss said. John Fleming, Ford of Europe CEO, said he expects overall new-car sales to be 15 million in Europe, 2.
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Toyota will lose money in Europe for the first time since its 2001-2002 fiscal year unless unit sales rise sharply in early 2009.
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Europe's troubled car industry hopes to get some help soon from the EU and its 27 member governments.
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Thousands of supplier jobs could be cut in central Europe as the global slowdown in auto production hits the region. )x("",It could be 10,000 jobs as a worst case scenario, said Jiri Kyncl, a spokesman for the Czech auto association, SAP.
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This is a tough time to be leading an automaker. Sluggish sales, high materials costs and a worsening global economy are forcing top auto executives to make some of the toughest decisions of their professional lives.
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Fiat Group Automobiles is getting ready to launch three low-cost models under a separate brand name in western Europe. The cars are due in 2010. The decision is a bet that, as the global financial crisis intensifies, consumers will want cheaper cars.
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General Motors Europe is reaching out beyond Germany in search of government help to avoid a liquidity crisis if its US parent goes bankrupt.
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Another official of China's annual formula one race has played down suggestions the grand prix in Shanghai might be in doubt beyond 2010.
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Nine months after announcing the end of his 22-year marriage, McLaren boss Ron Dennis is reportedly dating again.
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David Coulthard will turn to television punditry for his first year of formula one race retirement in 2009.
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Installing an Indian driver at the wheel of one of Force India's formula one cars is in the team's five year plan.
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A proposal for a new qualifying format for formula one in 2009 could be tabled at the forthcoming meeting of the FIA's World Motor Sport Council.
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