Valeo today reported a significant decline in its sales and a fall into the red for its first quarter. However, the company noted that its 33.4% fall in sales was less than the 38% drop in automobile production worldwide.
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The European Union's industry commissioner Guenter Verheugen drew a sharp rebuke from Fiat after questioning the company's ability to do separate deals with two other carmakers given its high debt level, The Italian news agency ANSA quoted Verheugen...
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With a week remaining for Chrysler LLC to clinch a deal with Italy's Fiat S.p.A., the U.S.
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Ford's European operations and its Swedish unit Volvo both lost money in the first quarter. Ford of Europe reported a pre-tax loss of $550 million for the quarter, compared with a profit of $739 million a year ago.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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Kamaz has suspended operations on its main production line from Thursday through May 11.
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Toyota has said it will suspend production at its plants in Turkey for one week until April 29.
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Tata is understood to be working flat out on the global launch of its new 'world truck' by the end of May, according to local reports.
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Ford Motor Co., the only U.S. automaker operating without federal bailout loans, burned through $3.7 billion in cash during the first quarter in posting its fourth straight quarterly loss.
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Ford Motor Co., the only U.S. automaker operating without federal bailout loans, cut its rate of cash burn by about half in the first quarter while posting a fourth straight quarterly loss.
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Ford on Friday announced a net loss of US$1.4bn, or $0.60 per share, for the first quarter of 2009 and a pre-tax operating loss of $2bn, excluding special items. It reported net income of $70m, or $0.03 per share, in Q1 2008 and a $686m operating profit a year ago.
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Ford on Friday announced a net loss of $1.4bn, or $0.60 per share, for the first quarter of 2009 and a pre-tax operating loss of $2bn, excluding special items. It reported net income of $70m, or $0.03 per share, in Q1 2008 and a $686m operating profit a year ago.
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The European Union is close to clinching a 100 billion dollar trade deal with South Korea, diplomats said, but the concerns of Europe's ailing carmakers could still scupper the pact to boost dwindling world trade.
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Five-door version of the A5 Coupe caught completely undisguised.
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General Motors last night confirmed it is scheduling "multiple down weeks" at 13 assembly plants in North America, taking out about 190,000 vehicles from its production schedule in the second and early third quarter of this year.
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Renault has announced that it will make the new 1.6 dCi engine for the Renault-Nissan Alliance at its plant in Cléon, Normandy. The high-volume production diesel engine will go into production in 2011, safeguarding 450 jobs at the plant.
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Xavier Duchemin, managing director of Citroën UK, has been appointed global marketing and communications director for Citroën worldwide and will take up the Paris-based position in June.
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UK car production more than halved over last year in March as UK plants cut back or temporarily stopped production in order to continue to wind down excess stock.
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Honda has insisted it is committed to the development and production of cleaner diesel engines for Europe despite recent media reports to the contrary.
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