Five major Japanese carmakers cut their global production in January by 33.5 to 62.7% from a year earlier, with Mazda Motor hit hardest by global economic problems, according to data released on Wednesday.
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Magna International has reported a quarterly loss for the fourth quarter of 2008, as expected.
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Suzuki Motor is making large scale work suspensions in March, local press reported today, adding that the company would also stage a three-day lay-off for 6,000 white collar workers next month.
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A US judge has provisionally granted bankrupt Delphi permission to end health care and life insurance benefits for retired salaried workers from April.
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Visteon has posted a fourth quarter net loss of US$328m on product sales of $1.55bn.
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The European Commission warned again against protectionism as six EU countries awaited approval for schemes to support their ailing car industries.
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A Saturn MBO could backfire badly on GM. Mark 'Coolbear' Bursa wonders whether a more radical approach might be needed as the General seeks to avoid Chapter 11.
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To save costs, the German operations of Volkswagen group's Skoda and Seat brands will move into a single building. Currently, Seat Germany employs 150 staff in Moerfelden, 15km west of Frankfurt.
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General Motors has axed plans for a new engine plant and will instead spend about US$250m to build the 1.4-litre four-cylinder Family 0 engine for the Chevy Volt and Cruze in existing floor space in the company's Flint South engine plant located on Bristol Road.
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Ford Motor Co. CEO Alan Mulally will take a 30 percent salary cut for two years as the centerpiece of a package of white-collar pay cuts that may make a vote for concessions more palatable to hourly workers.
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Ford Motor Co. CEO Alan Mulally will take a 30 percent salary cut for two years as the centerpiece of a package of white-collar pay cuts that may make a vote for concessions more palatable to hourly workers.
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Auto-parts maker Visteon Corp. warned today it might breach its debt covenants following a steep quarterly loss and said it was considering disposing of substantial assets to address liquidity needs.
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Ford's chief executive Alan Mulally has agreed to take a 30% salary cut for 2009 and 2010, a memo to employees said.
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Suzuki Motor Corp has recalled close to 130,000 vans and trucks on its domestic market of Japan on fears a defect in the rear tyre system could cause the vehicles to roll over.
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The European Commission has received details of Spain's plan to support its car industry and is studying it to make sure that it complies with EU rules, a Commission official has said.
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Spain's vehicle production declined by 53 percent in January, the biggest auto manufacturing drop in the country's history.
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FSI, France's strategic investment fund, has taken a stake in Valeo, the auto supplier, it was announced today.
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Russia's AvtoVAZ will continue working a shortened work week in March to cuts costs in response to a slump in demand for new cars.
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Near to bankrupt van maker LDV is reportedly still involved in talking with the UK government about short-term funding to ensure its survival, despite the governement's cool response to the idea of bridging finance earlier this week.
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