The German engineering firm Bosch announced on Thursday that it is cutting 250 jobs at its largest Hungarian plant due to falling orders.
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The outlook for Europe's car industry is "brutal" and there is no guarantee that all the main European manufacturers can survive the recession, European Union Industry Commissioner Guenter Verheugen said on Friday.
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Toyota Motor Corp. said it would further cut production at several North American plants over the next few months in an effort to reduce vehicle inventories by half.
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The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers.
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General Motors purchasing chief Bo Andersson told hundreds of suppliers on Thursday that the automaker will not lengthen the time it takes to pay them.
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General Motors is in discussions to resolve financial troubles at bankrupt former parts unit Delphi Corp. as part of its own restructuring plan, the automaker said on Thursday.
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Chrysler LLC will extend shutdowns at five factories one week beyond the scheduled reopening date of Monday, Jan. 19. Assembly plants in Belvidere, Ill.; Sterling Heights, Mich.; and Toluca, Mexico, will reopen Jan. 26, the company said today.
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The McLaren Mercedes Formula 1 team today launched the car it will campaign in the 2009 FIA Formula 1 World Championship at its headquarters in Woking, England.
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According to a British newspaper report, the potential sale of Brackley based Honda F1 team could be the subject of a government investigation.
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At the launch of the new MP4-24 single seater on Friday, McLaren's Ron Dennis announced he is to shortly hand over the reins of the Mercedes powered team to his long time deputy Martin Whitmarsh.
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Formula Palmer Audi frontrunner Jolyon Palmer is the latest addition to the 2009 FIA Formula Two Championship line-up.
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The RX-8 didn't need to be any more agile or sporty, but Mazda's dialed it up a notch anyways with their new-for-2009 R3 package. Building on the machine's recent makeover, the R3 kit adds a few goodies to get the tuner and performance buffs talking around the water cooler. Sunroof? Gone. Power seats? Gone. Lip-kit? Very much. The R3 add-ons give RX-8 a strictly race-track appearance.
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Montreal - The first Canadian event in the auto show season kicked off yesterday with a full day of previews and activities for journalists and marquee guests. Excitement is sky-high this year at the Montreal International Auto Show (MIAS), with a long list of Canadian debuts and even a North American premiere.
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Michael Waltrip Racing owner Michael Waltrip says that he will run the No. 00 Toyota team for the full Sprint Cup season despite still having to find complete sponsorship for driver David Reutimann.
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Formula 1's new Swiss racer, Sébastien Buemi, insists he will continue to reside officially in Bahrain this year despite driving for the Italian-based Toro Rosso team.
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All indications around the Mercedes GLK at this year's Auto Show circuit point in the direction of a hit. The German premium manufacturer is using the GLK to make their late but highly anticipated foray into the mid-sized SUV segment- stressing that it is in fact an SUV and not some mushy crossover. It's quite the looker, too.
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One of the biggest surprises in last year's auto show circuit was on hand for inspection by Montreal Auto Show attendees today. Some call it a 'crossover sedan'- and the Toyota Venza is now on sale and offering shoppers a do-it-all vehicle that appeals to countless needs.
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Yet another new model and new vehicle class have been debuted at the Montreal Auto Show. The all-new Kia Soul was presented today at its Canadian debut, and the automaker says their so-called 'urban crossover' line will offer shoppers a small, expressive, efficient and stylish machine to keep up with a busy schedule.
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The famous Italian drinks firm Martini did not renew its Ferrari sponsorship ahead of the 2009 Formula 1 season.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up