The US Treasury last night said Chrysler, which filed for Chapter 11 bankruptcy protection on 30 April, had now reduced the amount of debtor-in-possession financing to US$3.034bn from $3.340bn.
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Figures released by JD Power Automotive Forecasting show that the West European car market fell by 12.3% year-on-year in April. However, the weak looking result was in part a result of fewer working days in the month of April this year (due to when Easter fell).
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The the Federal Chamber of Automotive Industries (FCAI), which represents manufacturers and importers of new vehicles, has taken steps to prepare for the introduction of plug-in electric and electric-hybrid vehicles into Australia.
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Toyota Australia's sales chief thinks the new car market 'down under' is poised to improve through the rest of 2009, after hitting the bottom in April.
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PARIS (Reuters) -- Renault CEO Carlos Ghosn, has been appointed chairman of the French carmaker, in an anticipated management change.
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Australian sales of passenger cars, SUVs and commercial vehicles fell 23.9% year on year to 63,965 units, official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) showed.
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Sales of passenger vehicles in China reportedly rose to a record 830,000 units in April as the market continued to benefit from government stimulus measures designed to boost car sales.
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Vehicle sales in the Philippines declined 9% in April according to industry sources.
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New car, truck and bus sales in Brazil dropped 13.6% month on month in April as consumer demand waned after four straight months of gains, national dealers' association Fenabrave said.
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Government scrappage schemes operating in Europe, and planned for the UK from later this month, have prompted Nissan to recruit 150 manufacturing staff on fixed-term contracts from June for its Sunderland plant in north east England.
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Industry officials in Korea have said there are signs that the tax cut for cars that took effect on May 1 is stimulating market demand.
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Low-cost brand Dacia has chosen Barcelona to take the sheet of its new Sandero.
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Toyota Motor Thailand will reportedly rehire 500 workers at its Gateway plant in Chachoengsao to increase production of its passenger cars for the domestic market.
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Daimler would like to expand plans for cooperation "as equal partners" with BMW beyond an agreement to bundle purchasing of components, said CEO Dieter Zetsche.
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Toyota Motor Corporation on Friday reported a stunning year on year fall in its full fiscal year operating profit from 2.27 trillion yen to a loss of JPY461bn. It also forecast that the operating loss for fiscal 2009/10 would almost double to JPY850bn but estimated that, through the reduction of variable and fixed costs, it would achieve a total profit improvement of around JPY800bn in fiscal 2010.
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Fiat CEO Sergio Marchionne is convinced that a merger of Fiat Group's car business with General Motors' Opel brand is the best way to give Opel a future.
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Fiat CEO Sergio Marchionne is convinced that a merger of Fiat Group's car business with General Motors' Opel brand is the best way to give Opel a future.
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Fiat CEO Sergio Marchionne is convinced that a merger of Fiat Group's car business with General Motors' Opel brand is the best way to give Opel a future.
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ZF and Continental have agreed on a strategic alliance to develop and produce hybrid drives for commercial vehicles.
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Audi sold 5.6 percent fewer Audi brand cars in April than in the same period last year, but managed to raise sales in Asia, it said. "We're moving in the right direction.
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