Daimler still wants to sell its almost one fifth stake in Chrysler, a spokesman for the German company was quoted as saying on Tuesday, ahead of confirmation Fiat would join forces with the US automaker.
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Parts suppliers face a desperate cash shortage in February and need short-term federal aid, Dura Automotive Systems Inc. CEO Tim Leuliette said today on the sidelines of the Automotive News World Congress. U.S.
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Mitsubishi Motors on Tuesday said it would temporarily cut some operations at Japanese plants next month and also try to cut labour costs as vehicle demand falls.
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Toyota Motor on Tuesday named founding family member Akio Toyoda as its new president, replacing Katsuaki Watanabe. He was previously an executive vice-president.
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Toyota Motor on Tuesday reported group global sales for calendar year 2008 down 4% year on year to 8,972,000 units, its first such dip in a decade.
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Dealers, suppliers and auto executives must use the crises at the Detroit 3 to communicate the industry's economic importance to the nation, Tim Leuliette, CEO of parts maker Dura Automotive Systems Inc., said today.
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Analysts today said Fiat's plan to take a 35 percent stake in Chrysler looked mostly positive for Fiat because it is a cheap way for it to enter the U.S. market -- still huge despite falling sales, especially for gas-guzzling vehicles.
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One in five automotive companies is in danger of collapse, according to European Union vice president Günter Verheugen.
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The recently announced scrapping incentive programme in Germany should boost new car sales by around 7% this year, according to automotive market research and consultancy company, Polk.
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Car sales in Russia could drop by 25 percent to 50 percent in 2009 as the global financial crisis squeezes demand, auditing company PricewaterhouseCoopers (PwC) said on Tuesday.
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France may pump up to 6 billion euros of aid into the country's ailing car industry, but Prime Minister Francois Fillon warned on Tuesday that automakers would have to safeguard jobs in return.
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Akio Toyoda, scion of Toyota Motor Corp.'s founding family and now its next president, will bring a U.S. perspective to the automaker as it battles falling sales and an unprecedented financial crisis.
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German Chancellor Angela Merkel and EU Industry Commissioner Guenter Verheugen voiced concern about U.S. government aid to the auto industry ahead of Barack Obama's inauguration as U.S. president. Merkel criticized U.S.
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Skoda has launched the Fabia Jingrui into China's AO-class market.
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BMW said Tuesday it will introduce short-time work at four of its German plants because "challenging" conditions in global auto markets are hitting the carmaker.
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China plans to create its own satellite navigation system by 2015, according to Chinese state media.
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Akio Toyoda, scion of Toyota Motor Corp.'s founding family and now its next president, will bring an international perspective to the automaker as it battles falling sales and an unprecedented financial crisis.
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Import car brands are reportedly backing away from exhibiting at the upcoming biannual Seoul Motor Show.
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Bosch has set itself a goal of drastically reducing CO2 emissions from all its sites.
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Changan Berjaya Auto, a subsidiary of Malaysia's Berjaya, launched two (right hand drive) new budget priced passenger vehicles in the country on Monday sourced from China's Changan Automobile.
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