Volkswagen will start production of a new compact car at its plant in Mexico early next year following a US$1bn investment, according to Otto Lindner, head of the company's operations in the country.
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Toyota is not currently profitable in North America despite cost cutting and is reviewing all of its operations there, the new top executive for the market has said.
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The number of new and used cars sold in Russia plummeted 55 percent in the first half of 2009, and could end up falling 60 percent by the year's end if the state does not act fast, PricewaterhouseCoopers (PwC) said on Tuesday.
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Autoliv posted a smaller second-quarter pretax loss than expected today and said it expected positive cash flow for the full year, sending its shares up.
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Chery Automobile has resumed preparations for an A-share initial public offering as the country's securities regulator lifted its nearly 10-month ban on domestic IPOs due to a recovery in the country's stock market.
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ArvinMeritor has announced that it has signed a strategic partnership with Yutong Group Co., Ltd. to supply drivetrain components for buses and coaches in China.
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A meeting between General Motors and the German government today is unlikely to result in a decision on the future of Opel and Vauxhall, government officials have said.
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A meeting between General Motors and the German government today is unlikely to result in a decision on the future of Opel and Vauxhall, government officials have said.
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Kuwait's sovereign wealth fund, the Kuwait Investment Authority (KIA), denied today it was in talks to invest in German auto parts supplier Continental AG.
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Kuwait's sovereign wealth fund, the Kuwait Investment Authority (KIA), denied on Tuesday it was in talks to invest in German auto parts supplier Continental AG.
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Mitsubishi Motors Thailand said it plans to rehire up to 1,000 workers in the fourth quarter in anticipation of stronger demand.
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A meeting on Wednesday between General Motors and German government officials will not yield a decision on which bidder will succeed in taking a stake in Opel, a German government source said on Tuesday.
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A meeting on Wednesday between General Motors and German government officials will not yield a decision on which bidder will succeed in taking a stake in Opel, a German government source said.
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A meeting on Wednesday between General Motors and German government officials will not yield a decision on which bidder will succeed in taking a stake in Opel, a German government source said on Tuesday.
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A meeting on Wednesday between General Motors and German government officials will not yield a decision on which bidder will succeed in taking a stake in Opel, a German government source said on Tuesday.
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A meeting on Wednesday between General Motors and German government officials will not yield a decision on which bidder will succeed in taking a stake in Opel, a German government source said on Tuesday.
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Faurecia raised its cost-cutting target and predicted a very slow recovery after an unprecedented drop in auto production pushed it to a first-half operating loss.
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French auto supplier Faurecia today said it lost $266 million during the first half of the year and anticipates North American sales to fall 35 percent during the second half.
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French auto supplier Faurecia today said it lost $266 million during the first half of the year and anticipates North American sales to fall 35 percent during the second half.
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Faurecia raised its cost-cutting target and predicted a very slow recovery after an unprecedented drop in auto production pushed it to a first-half operating loss.
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