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Dec
5th

Mercedes says F1 racing teams must cut costs by half

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German carmaker Mercedes-Benz said today that Formula One teams must cut costs by at least 50 percent over the next two years. Full story...
Dec
5th

Expert: More Detroit 3 cuts could hit Canada, U.S. before Mexico

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If the Detroit 3 close more plants in North America, Canada is likely to bear the brunt of it before the United States and Mexico do, an industry analyst said here this week. Full story...
Dec
5th

GM vehicle death list is complicated

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General Motors says it will eliminate eight nameplates by 2012. But determining which vehicles will go isn't as simple as finding eight sales duds in GM's lineups. GM did not release a list of nameplates to be dropped. Full story...
Dec
5th

Chrysler says legal firm advised against bankruptcy filing

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Chrysler LLC confirmed today that it had hired global law firm Jones Day to assess financial alternatives -- and said the legal firm's analysis supports the auto industry stance that bankruptcy isn't a viable option. Full story...
Dec
5th

Report: Chrysler hired law firm Jones Day for bankruptcy work

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Chrysler LLC retained the services of the international law firm Jones Day as bankruptcy counsel several weeks ago, The Wall Street Journal reported today, citing sources familiar with the matter. Full story...
Dec
5th

Nardelli: More Chrysler dealers going out of business

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Chrysler LLC CEO Bob Nardelli says 240 Chrysler dealers have been forced out of business this year because they could not get access to adequate financing. Full story...
Dec
5th

INDIA: Price war breaks out

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Carmakers in India have slashed prices as the once booming industry struggles to maintain sales amid a slower economy and tighter credit. Full story...
Dec
5th

US: Michigan lawmaker proposes auto bridge loan

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Michigan Republican Representative Thaddeus McCotter has proposed a plan to give the US auto industry a much needed bridge loan while also punishing the financial industry for its handling of bail-out funds. Full story...
Dec
5th

Congress nears accord on Detroit 3 bailout

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Democratic leaders of Congress indicated this evening they have reached agreement on a bailout plan for the Detroit 3. The accord would provide short-term loans to General Motors, Ford Motor Co. Full story...
Dec
5th

Support grows for interim bailout plan

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A key lawmaker in the automaker bailout debate says consensus is building for at least an interim rescue package this year, but questions remain over the source of the federal funds. Rep. Barney Frank, D-Mass. Full story...
Dec
5th

Lawmaker warns of automaker job loss ‘disaster’

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A senior U.S. congressional leader warned today of an "unmitigated disaster" if a major U.S. automaker were allowed to collapse at a time when the economy is already losing jobs at an alarming pace. Full story...
Dec
5th

UK: Honda F1 withdrawal a marketing opportunity – MIA

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Honda's withdrawal from Formula One presents an opportunity for another company - not necessarily in the automotive business - to acquire a product or brand marketing channel with a vast global audience, the Motorsport Industry Association's chief executive told just-auto on Friday. Full story...
Dec
5th

Bologna Motor Show 2008

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Home of the best Bologna Motor Show news, Auto Express's team of journalists are live at this years Italian expo bringing you all the latest and breaking news. Full story...
Dec
5th

Porsche at Bologna

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There’s more to Porsche these days than just a pretty face. And to prove it, the firm used its Bologna stand to showcase green technology, as well as its latest supercars.Getting their first European unveiling and taking pride of place was the Boxster and the new Cayman, driven this week, both of which are now offered with the firm’s new PDK auto shifter. Full story...
Dec
5th

Lamborghini

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Italy's wildest supercar builder is back in black. Full story...
Dec
5th

JAPAN: Nissan could suffer components shortage on US woes

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Nissan could face shortages of components if the US auto industry goes into meltdown, according to a leading executive at the Japanese-owned business. Full story...
Dec
5th

VIETNAM: Car sales fall for fourth month

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Vietnam has recorded its fourth consecutive month of falling car sales, figures out today show. Full story...
Dec
5th

American Axle expands nonunion forging business

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As it shrinks some of its unionized North American operations, American Axle and Manufacturing Holdings Inc. is expanding its nonunion forged parts business. Full story...
Dec
5th

American Axle buys factory from FormTech

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American Axle and Manufacturing said today it acquired a 50,000-square-foot axle gear factory in Fort Wayne, Ind., from FormTech Industries LLC. In exchange for the FormTech plant, American Axle sold its Tonawanda, N.Y. Full story...
Dec
5th

Democrats renew calls for auto bailout funds

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Lawmakers today renewed calls for the Bush administration to give the Detroit 3 part of the $700 billion designated to bail out the financial sector. Full story...
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