Volkswagen AG will overtake U.S. rival General Motors this year to become the world's second-largest automaker by volume, market research company R.L. Polk Germany said on Monday.
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Chrysler Canada's minivan assembly plant in Windsor, Ontario, which employs about 4,900 people, will reopen at midnight after a parts shortage forced its closure on April 1, the company said today.
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Chrysler Canada's minivan assembly plant in Windsor, Ontario, which employs about 4,900 people, will reopen at midnight after a parts shortage forced its closure on April 1, the company said today.
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The Packard world has lost one of its most avid enthusiasts. Robert Turnquist, a longtime fan of the luxury marque and one of Americas early car collectors, died April 4 at the age of 82.
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A South Korean newspaper has reported that Ssangyong plans to cut 40% of its workforce as part of a new business plan to ensure its survival.
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More car manufacturers are seeking to take perceived risk away for potential customers with different forms of unemployment insurance. After helping Hyundai to add sales in the US, the idea is spreading in the US and now across the Atlantic.
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GAZ plans to start producing a less expensive model of its GAZelle light commercial vehicle in September-October, GAZ Group's Deputy CEO Vadim Sorokin has told reporters.
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There's no mistaking it for anything but a Porsche, but with four doors and four full seats, the Panamera is like no previous Porsche.
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Beijing Hyundai Motor, the Korean automaker's Chinese joint venture, sold 41,880 vehicles last month, up 70% from the same period last year, and the first time the company has reached the 40,000 mark in monthly sales since its launch in 2002.
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Suzuki's Wagon R minicar was Japan's best-selling vehicle for the fifth consecutive year, according to the Japan Automobile Dealers Association. Sales fell 7% in fiscal 2008, however, to 208,494 units.
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Rating agency Moody's has downgraded its long-term credit rating on German carmaker BMW to A3 with a negative outlook.
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Now that the Obama administration has taken the wheel at General Motors and Chrysler LLC, the advertising world is watching the two marketers, which poured a combined $3 billion into U.S. advertising last year, careen toward bankruptcy.
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Ford on Monday announced the completion of debt restructuring initiatives that will reduce its automotive debt by US$9.9bn from $25.8bn at 31 December, 2008, and lower its annual cash interest expense by over $500m based on current interest rates.
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Chrysler has signed an agreement with US-based battery supplier A123 Systems for advanced nanophosphate lithium ion prismatic battery cells, and jointly developed battery modules and battery packs for the automaker's range-extended and battery only electric vehicle production programmes.
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Volkswagen said on Monday that it does not plan to purchase assets from its majority shareholder Porsche Automobile SE to help fund Porsche's intended acquisition of a 75 percent stake in VW.
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Ford's UK unit told Visteon workers they would have "lifetime protection" of their pay and conditions if they agreed to leave the carmaker and join the components group, company documents seen by The Sunday Times newspaper showed.
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Opel denied on Monday that four German manufacturing sites were used as collateral for a U.S. government loan to parent General Motors. "The real estate of the German Opel plants belongs to Adam Opel GmbH.
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Continental and Schaeffler Group have reached a joint purchasing agreement that Schaeffler said would achieve cost benefits of up to EUR400m in three years.
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