Foreign brands are losing market share in Japan, but as a group they still outclass the far larger local automakers when it comes to customersand#8217; satisfaction with the service they receive at dealerships.
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Volkswagen may abandon plans to build an eco car plant in Thailand in favour of developing a more comprehensive alliance with Proton in Malaysia, according to Vallop Tiasiri, president of the Thailand Automotive Institute (TAI).
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TRW Automotive Holdings on Wednesday reported third quarter net earnings of US$56m, or $0.50 per share, which compares to a net loss of $54m a year ago on sales down 13.5% to $3.1bn.
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GMAC Financial Services on Wednesday reported a third quarter 2009 net loss of US$767m, compared to a net loss of US$2.5bn in the third quarter of 2008. Results in the quarter were adversely affected by losses related to legacy assets in the mortgage operations.
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On the eve of CEO Sergio Marchionne's unveiling of his five-year turnaround plan for Chrysler, the U.S. automaker did something it had done for each of the past 22 months: announced a decline in U.S. sales.
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Yulon Motor shares jumped 3.2% yesterday after a newspaper reported that the Yulon group was likely to assemble and sell cars for China's Geely Motor in Taiwan by the end of the year.
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The US National Highway and Traffic Safety Agency (NHTSA) will not conduct an additional investigation of unwanted and unintended acceleration of model year 2007 Lexus ES350 vehicles and model years 2002-2003 Lexus ES300 after an extensive technical review of the issue, including interviews with consumers who had complained of unwanted acceleration.
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Honda Motor plans to reduce its cost structure in Japan to be able to break even there using just 70% of its capacity, a top official has said.
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GMAC Financial Services reduced its third-quarter net loss to $767 million from $2.5 billion for the same period last year and from $3.9 billion in the previous quarter this year.
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GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, today said it posted a third straight quarterly loss, hurt by red ink in its mortgage business.
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U.S. light-vehicle sales--bolstered by General Motor Co.'s first gain in 21 months--declined less than 1 percent in October as the industry showed signs of a recovery without the aid of government incentives.
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Britain's Unite union on Wednesday welcomed the decision by General Motors Co. not to sell its European Vauxhall unit, saying it was a "far better deal" and that it expected the government to offer financial support.
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Daimler plans to cut 1,000 jobs at its Mercedes-Benz Cars premium division by offering a variety of buyout packages to staff, the German carmaker said on Wednesday.
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Daimler AG plans to offer several thousand employees a payoff if they leave the company voluntarily. The carmaker could spend hundreds of millions of euros on the severance packages, sources said.
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Hyundai Kia Automotive Group's annual overseas output rose above 1.5m units for the first time, industry data showed.
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The U. S. Patent and Trademark Office this week approved a new winged logo for the Chrysler brand, according to the Detroit Free Press. As reported last month by Allpar.
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October Canadian car sales were the best for a month so far this year in October and were down 1% year on year to 121,500 units, according to DesRosiers Automotive Consultants data.
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Russian Prime Minister Vladimir Putin hinted the battle for carmaker Opel was not over, saying it was the trust overseeing Opel, not the board of General Motors Co., its parent, that should decide any further steps.
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