Profit at the Czech Republic's largest exporter, Volkswagen AG unit Skoda Auto, sank 61.7 percent and revenue fell 19.7 percent in the first half, mirroring a fall in the country's manufacturing sector.
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Toyota assembly affiliate Kanto Auto Works will restore a night shift at its Iwate prefecture plant from around mid-August to boost production of the small Belta sedan (Yaris in US and Australia; Vios in Asia), Kanto officials said.
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Fiat S.p.A's Russian joint venture partner, Sollers, will build a factory in the far eastern city of Vladivostok, the government said on Thursday ahead of Prime Minister Vladimir Putin's visit to the region.
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Auto dealership group Asbury Automotive Group Inc. said today it posted a 47 percent drop in quarterly earnings, but signaled the U.S. new vehicle market has stabilized, though at very low levels.
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Supplier Tenneco Inc. said today it posted a quarterly net loss, hurt by sharply reduced vehicle production. The company posted a net loss of $33 million in the second quarter, compared with profit of $13 million a year earlier.
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Japanese production of cars, trucks and buses in the first half of this year fell 45.2% year on year while exports plunged 59.1%.
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Supplier Federal-Mogul Corp. today said it posted a sharp drop in quarterly profit, but reported substantial progress from earlier in 2009 as it cut costs to address the economic downturn and production cuts by its automaker customers.
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Ford affiliate Mazda Motor booked an operating loss of JPY28.0bn (US$295.8m; EUR209.5m), down from a JPY56.3bn profit last year, for the first quarter of financial year 2010.
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Next-generation of Porsche's SUV has been on a crash diet
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The rate of decline of new-car sales in Spain eased in July to a fall of 9 percent from a year earlier compared with a 15.8 percent drop in June as a subsidy plan took effect.
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As widely anticipated, Renault has announced first half financial results that show a sharply deteriorating performance and a worse-than-expected EUR2.7bn net loss on plunging sales.
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Valeo has forecast worldwide car production down 17% this year instead of the 20% it had earlier predicted.
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Sales may be down about a fifth but Toyota and General Motors remained the world's top two automakers in the first half.
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Volkswagen's cash pile has continued to grow since December and second-quarter operating profit easily beat expectations, Europe's largest carmaker said on Thursday.
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Volkswagen's cash pile has continued to grow since December and second-quarter operating profit easily beat expectations, Europe's largest carmaker said on Thursday.
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Petrol-electric version of classic sports car is caught testing
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Mazda Motor Corp. and Mitsubishi Motors Corp. posted losses for a third straight quarter as car sales plunged worldwide, but the carmakers kept their annual forecasts relying on cost cuts to offset weak demand.
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Continental AG's CEO was asked to resign as a power struggle escalated between the German auto parts maker and its controlling shareholder Schaeffler.
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Net debt at German supplier Continental fell below 10 billion euros ($14.15 billion) for the first time since its 2007 acquisition of Siemens VDO Automotive and its liquidity situation improved, the company said on Thursday.
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Net debt at German supplier Continental fell below 10 billion euros ($14.15 billion) for the first time since its 2007 acquisition of Siemens VDO Automotive and its liquidity situation improved, the company said on Thursday.
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