SAIC Motor has posted a drop of almost 50% in first-quarter earnings though its RMB626.9m (US$91.8m) net profit reversed losses in the fourth quarter. The company posted a RMB1.24bn net profit in Q1 2008.
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Fiat S.p.a. and Magna International Inc. are emerging as rival bidders for a significant stake in General Motors' Opel/Vauxhall subsidiary.
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Daimler AG's deal to exit its 19.9 percent stake in Chrysler LLC facilitates the U.S. automaker's proposed partnership with Fiat S.p.A., Chrysler CEO Bob Nardelli said. The move will help Chrysler meet the requirements laid out by the U.S.
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Toyota Motor Sales USA is to recall approximately 39,100 stainless steel exhaust tip retention clamps.
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The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said.
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Chrysler LLC creditors and the U.S. Treasury Department agreed late Monday on terms that may prevent a Chrysler bankruptcy filing, the Washington Post reported. The creditors agreed to write down $6.
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Denso Corporation has reported an operating loss of JPY37.3bn (US$379.8m) for the fiscal year ended 31 March, 2009 compared with operating income of JPY348.7bn ($3.5bn) a year ago.
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Renault plans to manufacture a new 1.6-liter four-cylinder diesel engine at a factory near the northwestern French city of Cleon.
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General Motors' equity-for-debt offer has drawn a sharp response from advisers to the ad hoc committee of GM bondholders.
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PORTO, Portugal -- Renault is developing a convertible based on its Twingo minicar, a company executive told Automotive News Europe.
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Fiat's deal with Chrysler LLC will be decided Thursday evening, Fiat Vice Chairman John Elkann said today. "The Chrysler deal will be decided on Thursday evening our time, end of day in the United States.
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German economy minister Karl-Theodor zu Guttenberg is meeting senior representatives of Magna on Tuesday to discuss a possible investment in Opel.
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Fiat S.p.a. and Magna International Inc. are emerging as rival bidders for a significant stake in General Motors' Opel/Vauxhall subsidiary.
Full story...
Fiat S.p.a. and Magna International Inc. are emerging as rival bidders for a significant stake in General Motors' Opel/Vauxhall subsidiary.
Full story...
Group 1 Automotive Inc., the fourth-largest U.S. dealership group, today posted net income of $8.4 million in the first quarter and said it will cut about $120 million from its 2009 operating costs.
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The US government has said it has no wish to run a North American automaker even though it could end up with a controlling interest in General Motors.
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Honda Motor has posted a fourth quarter operating loss of JPY283bn, down JPY 451.8bn compared to Q4 2008.
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Mitsubishi President Osamu Masuko is stepping up plans to roll out the company's first electric vehicle, eyeing 50 percent more output by 2011 to meet overseas demand. Growing volume should make the car profitable as early as 2013, Masuko added.
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SAIC Motor Corp., China's biggest automaker, on Tuesday posted a fall of nearly 50 percent in first-quarter earnings, as a slowing economy continued to weigh on the automobile industry. The company posted 1.
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Daimler AG has reported a massive plunge in profits for the first quarter of 2009. The net loss of EUR1,286m compared with net profit of EUR1,332m in Q1 2008 while EBIT was minus EUR1,426m for period compared with a EUR1,976m profit last year. Revenue fell to EUR18.7bn versus EUR24bn in 2008.
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