Continental has said that Nikolai Setzer will be taking over the temporary management of its car tyre division, in addition to the position he already holds as head of the replacement business car and light truck tyre division Europe and
Africa.
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Penske Automotive Group Inc. posted a fourth-quarter net loss today of $510 million, the dealership group's first quarterly net loss since 1998. Most of the loss stemmed from one-time charges and adjustments.
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The car industry in Central and Eastern Europe and Russia is expected to recover soon from the current crisis and to suffer less than producers in Western Europe, according to a study.
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To save costs, Continental will not have an exhibition stand at the IAA in Frankfurt in September. The German supplier is the second automotive company to withdraw from Europe's biggest auto show.
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Germany's Social Democrat (SPD) party is open in principle to providing ball-bearing maker Schaeffler with state aid, chairman Franz Muentefering has said.
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Embattled Jaguar Land Rover is close to agreeing cost-cutting measures with its workers. The British carmaker, which Ford Motor sold to Tata Motors for $2.3 billion last summer, needs to reduce costs after a steep fall in its unit sales.
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Daimler has posted a net profit of EUR1.4bn on full-year 2008 revenue of EUR95.9bn versus EUR4.0bn a year previously on revenue of EUR99.4bn.
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Renault said it is looking for partners to share engine development costs. Renault already has partnerships with General Motors and Suzuki, which both buy Renault diesel engines.
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The United States is not protectionist and there is "no bias" against Italian auto giant Fiat's possible tie-up with Chrysler, US House of Representatives Speaker Nancy Pelosi has said.
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Hella has acquired all the shares of its previous Relay Joint Venture Hella Hongfa (Xiamen) Automotive Electronics Co. Ltd. (HAE) in China.
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Sichuan Auto Industry Group has said that it has no interest in buying GM's up-for-sale Hummer unit.
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Norma is to place nearly 600 employees on part time work, and is also filing a request with the labour inspectorate to end the contracts of 52 workers.
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Suzuki plans to decide in late March whether it will delay the launch of its future car assembly plant in Russia by one year.
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General Motors and the United Auto Workers union were reported to have made progress in concession talks while bondholders were offered proposals to slash GM's debt on Monday, a day ahead of the automaker's submission of a new survival plan to the US government.
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Chinese carmaker BYD says it sold 24,107 vehicles in January, up 80% on last year.
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Hyundai Motor has unveiled its new Equus luxury sedan in Korea.
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Shanghai Volkswagen (SVW) is the latest Chinese maker to significantly reduce its car prices in order to win business amid slower demand.
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Proton is planning a monthly production of 3,000-3,500 units of its new Ezora MPV, starting from March, according to a report carried by the Bernama news agency.
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Isuzu is planning an assembly plant in Cuautitlan, Mexico, according to the Nikkei newspaper.
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FAW Toyota, a joint venture between Toyota and FAW Group, has announced a goal of selling 380,000 units in 2009, a total that would be 8% up on 2008.
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