In a pleasant change from same old, same old, my week began in Seoul, South Korea, listening to General Motors Daewoo Auto & Technology (aka GM-DAT) detail its plans to compete in more niches.
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Red Bull Formula 1 team designs X1 ultimate virtual racecar for Gran Turismo 5.
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American Axle and Manufacturing Holdings Inc. posted a bigger-than-expected third-quarter profit today, its sales forecast for the fourth quarter fell short of Wall Street estimates. American Axle reported net profit of $38.
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Kia posted record quarterly profit in the third quarter as new models increased sales at home, in China and the U.S. Net income surged 66 percent to 666.6 billion won ($593 million) in the three months ended Sept.
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Honda Motor Co. raised its profit forecast as surging sales in Asia outweigh the impact of a stronger yen. Honda expects net income of 500 billion yen ($6.
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General Motors has announced a series of actions to further reduce financial leverage. "These actions will bring down our leverage by $11bn by reducing debt and improving our pension funding position," said CFO Chris Liddell in a statement.
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A top Honda Motor executive said on Friday the automaker wanted to maintain current domestic production levels of around 1m cars a year despite the yen's strength
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Denso Corporation has announced a sharp improvement in financial results for the first half of its fiscal year to the end of September on the back of increased car production, especially in Japan.
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Mahindra & Mahindra, India's largest utility vehicles maker, on Friday reported a 7.8% rise in quarterly net profit, driven by higher volumes in a fast-growing auto market.
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British car dealer Lookers Plc has not received a takeover bid and is looking for deals itself to boost its car parts business and add the BMW franchise, its CEO told Reuters on Friday.
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Mazda Motor has decided to biannually recruit top contract workers as regular employees to flexibly cope with the expansion of production and achieve cost cuts, company officials said Friday.
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South Korea's anti-trust watchdog on Friday said it had approved the sale of Ssangyong Motor to Mahindra and Mahindra.
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Chrysler is to invest US$600m at its 45-year-old Belvidere (Illinois) assembly plant to support the production of future models in 2012.
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Volvo made an operating profit in the third quarter, the Swedish carmaker said on Friday. Volvo did not disclose details, but said it has been profitable since the start of the year.
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Volvo made an operating profit in the third quarter, the Swedish carmaker said on Friday. Volvo did not disclose details, but said it has been profitable since the start of the year.
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Honda Motor said on Friday its net profit more than doubled to US$1.7bn for the three months to September, while it also upgraded its full-year profit forecast, and Mazda Motor also posted a healthy rise in earnings.
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Volvo may cut its auto supplier base by as much as 33 percent to reduce costs and simplify manufacturing, purchasing chief Bernt Ejbyfeldt said.
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Indian autoparts maker Motherson Sumi July-Sept net profit was INR859.8m compared with INR149.6m a year ago.
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General Motors is to invest US$190m in its Lansing Grand River assembly plant for the production of a new Cadillac model.
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Kia Motors said its third-quarter earnings soared a better-than-expected 65.8% from a year ago on increased deliveries at home and abroad and it now expects ti top 2m global sales this year for the first time ever.
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