Market analyst and forecaster IHS Global Insight has warned that the sharp car market downturn in Europe threatens to tip an OEM into bankruptcy in 2009.
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Plans for Acuras NSX supercar program are on ice.
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Ford is considering options for its Swedish luxury Volvo brand "right now" and expects lots of interest, chief executive Alan Mulally has said.
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European new car sales fell 25.3% to 924,936 units, down from 1,238,297 in 2007, according to UK-based analysts Jato Dynamics.
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The production of tyres in Japan is expected to drop by 5% in 2009 as car sales fall worldwide, according to industry figures released today.
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Volvo had more orders cancelled in October and November than it had truck sales.
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Fiat is to extend the closure of some of its factories in Italy as the company comes to terms with falling sales. The Italian carmaker had previously announced shutdowns over the Christmas period, but has now said that some facilities will remain closed further into January than thought while one will be shut until February.
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GS Yuasa and Honda Motor have agreed to form a joint venture to make high-performance lithium-ion batteries primarily for hybrid vehicles. The pair aim to establish the new company around next spring.
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Automotive production in Turkey fell by 50 percent year-on-year in November, while passenger car production fell 54 percent in the same period, the Turkish Automotive Industry Association (OSD) said on Wednesday.
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Production in Turkey's vehicle industry halved in November from a year earlier, as the leading export sector felt the impact of an abrupt downturn in European demand as a result of the global financial crisis.
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Tens of thousands of German auto workers will be on short time during the first few months of 2009.
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Toyota has announced plans to use more plant-derived, carbon-neutral plastics in its vehicle components from next year.
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Honda has said its fiscal year operating income will fall 81.1% year on year and has cut a further 54,000 units of Japanese auto production. It is also delaying the launch of some diesel models in the US and Japan.
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Thai vehicle sales plunged by almost 20% in November to 46,068 units - from 57,410 units a year earlier, according to data released by distributor Tri Petch Isuzu Sales Co Ltd. Compared with the previous month volumes were 5.9% lower, as domestic confidence was hit by the country's growing political instability and the worsening global economic outlook.
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A senior US government official said an auto industry bailout was being put together as quickly and carefully as possible while a new ratings report showed bankruptcy was the most likely way the industry would be restructured.
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Honda lowered on Wednesday its annual operating profit forecast by 67 percent, its third profit warning this year, as a deepening financial crisis hammers global car demand and sends the yen soaring.
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General Motors and its China partner SAIC Motor opened a new car manufacturing plant in northeast China on Wednesday with an annual production capacity of 150,000 units.
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Volvo is to unveil its S60 Concept at the Detroit motor show early next month, saying it's "an indication" of what the redesigned model will look like when launched in 2010.
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Subaru will show a Legacy concept at next months Detroit auto show to help celebrate 20 years of the car's production. The concept also offers a glimpse of what the next-generation Legacy will look like when it arrives for the 2010 model year.
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Ford Motor is considering strategic options for its Swedish luxury Volvo brand "right now" and expects lots of interest in the brand, CEO Alan Mulally said on Tuesday.
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