Data released by JD Power Automotive Forecasting shows that car sales in Western Europe fell by just 4.2% in May, versus last year. However, the result was distorted by scrapping incentives which provided a powerful boost to demand in a number of countries.
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New car and light commercial vehicle sales in Hungary fell 64% to 5,297 in May from the same month a year earlier, the steepest drop ever, reported the business daily Napi Gazdasag.
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GM Europe CEO Carl-Peter Forster believes that Opel can be a profitable business again before 2013, he has told a German business newspaper.
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U.S. consumers are waiting to buy new vehicles until Congress reaches a decision on the cash-for-guzzlers bill, two automotive companies' surveys have shown.
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Toyota's new Prius hybrid was Japan's best-selling vehicle in May with monthly sales of 10,915 units. The Prius outsold Honda's Insight hybrid, which topped the sales chart in April - a first for a hybrid.
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Hyundai Motor America is urging Congress to quickly pass the cash-for-guzzlers bill that would provide cash payments to consumers who trade in older, less fuel efficient vehicles for newer ones that provide higher gas mileage.
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Ssangyong's upcoming crossover vehicle - the C200 - has reportedly been delayed because of the firm's ongoing industrial relations troubles in Korea.
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General Motors does not expect U.S. regulatory scrutiny to hold up its tentative agreement to sell Hummer to a Chinese machinery maker, CFO Ray Young said.
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Fiat declined to comment today on a newspaper report that it could make a new bid for Opel. The Sueddeutsche Zeitung quoted sources at Fiat as saying that if the GM-Magna talks were to fail, Fiat would resume negotiations over Opel.
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General Motors does not expect U.S. regulatory scrutiny to hold up its tentative agreement to sell Hummer to a Chinese machinery maker, CFO Ray Young said.
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GM Daewoo and the bankrupt Ssangyong Motor could be merged into a single company for eventual sale, reports the Dong-A Ibo daily newspaper which cites the main creditor bank of both automakers.
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Chrysler will have little need for the hundreds of dealers it wants to close if it completes its sale to Fiat as expected, the judge overseeing the automaker's bankruptcy said today.
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Some of the 789 dealerships that Chrysler plans to close will begin presenting their case to bankruptcy court today, arguing that the automaker was undermining its turnaround by terminating the franchises.
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Russia Prime Minister Vladimir Putin has instructed the government to provide a 25bn rouble (US$806m) loan to support the ailing carmaker AvtoVAZ according to the government's website.
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The Canadian-Russian consortium which is buying a controlling stake in Opel AG operations is also seeking to acquire all of General Motors' assets in Russia and other CIS states according to the business daily Vedomosti.
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The registration of new cars in New Zealand saw double-digit growth in May over the preceeding month. However, the total fell below volumes registered in May last year.
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The Renault-Nissan passenger car project in India is crucial to Nissan Motor Co's European plans, a senior official of the Japanese firm on Thursday.
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ST PETERSBURG (Reuters) -- The Gulf state of Qatar is still considering taking a stake in Germany's Porsche, its finance minister said on Thursday.
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ST PETERSBURG (Reuters) -- The Gulf state of Qatar is still considering taking a stake in Germany's Porsche, its finance minister said on Thursday.
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