The federal "cash for guzzlers" program reached its $1 billion funding limit unexpectedly after an avalanche of business exhausted its funds, an Obama administration official said late Thursday following reports from congressional and industry...
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The Obama administration will suspend a $1 billion program intended to spur U.S. auto sales after it surprisingly approached its funding limit after only a few days, government and industry sources said.
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A U.S. bankruptcy judge today said seating and electronics supplier Lear Corp. could access $500 million in loans to keep the company operating during the bankruptcy process.
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Cash-for-guzzler trade-ins that became ineligible for the program under last-minute changes to federal fuel economy standards will still be honored by the government on deals completed on or before Friday, July 24, a U.S. spokesman said.
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Ford Motor Co. will use football and the Web to try to convince a new set of consumers that the Taurus is not the stodgy car they remember.
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Ford Motor Co. will use football and the Web to try to convince a new set of consumers that the Taurus is not the stodgy car they remember.
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Ford Motor Co. will use football and the Web to try to convince a new set of consumers that the 2010 Ford Taurus is not the stodgy car they remember. Ads for the re-engineered and restyled Taurus begin next week.
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French automaker Renault SA could become a source for Saturn vehicles and parts for the brand's proposed new owner, U.S. auto magnate Roger Penske.
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It's official. Suzuki confirmed its next midsize sedan will be called the Kizashi, and it is set to launch in the United States at the end of this year.
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Getting the federal money promised to dealers who have sold consumers discounted new vehicles in exchange for gas-guzzling trade-ins is proving difficult, dealers say.
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Getting the federal money promised to dealers who have sold consumers discounted new vehicles in exchange for gas-guzzling trade-ins is proving difficult, dealers say.
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The cash-for-guzzlers program will run out of its $1 billion funding "well before" its Nov.
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Reeling from a 60.2 percent sales decline in the first half of 2009, American Suzuki hopes the launch of its Kizashi mid-sized sedan in December will help reverse course. But first Suzuki must convince U.S.
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Renault is beginning to look like an unlucky company. The finest symbol of this was Sunday's televised display of Renault attempting to maintain its domination of the Hungarian Grand Prix with a three-wheeled car.
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Continental AG won a vote to repair its finances but will likely lose its second chief executive in less than a year amid a bitter power struggle with German ball-bearings maker Schaeffler.
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Continental AG's CEO Karl-Thomas Neumann was asked to resign as a power struggle escalated between the German auto parts maker and its controlling shareholder Schaeffler.
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In today's News Brake: Schumacher returns to F1 for Ferrari, GM dips its toe back into leasing, and Penske closes in on its Saturn deal . . . But Wait, There's More!
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French market regulator AMF has cleared EADS' major shareholders - including Daimler - of charges of insider trading.
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Nissan plans to suspend production at its plant in St Petersburg in early August for the summer vacation period.
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