The collapse of auto industry sales has cost Chrysler LLC about $16 billion in lost revenues, CEO Bob Nardelli said in U.S. Senate testimony today. In submitting a request for a $7 billion loan to a U.S.
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Chrysler CEO Robert Nardelli told Congress today that the automaker has identified about $4 billion in potential cost savings and improvements.
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French President Nicolas Sarkozy has announced an EUR1.5bn boost, including a scrappage incentive, for France's auto industry as part of a package of measures designed to shore up France's weak economy.
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The Detroit 3 CEOs won a warmer reception in Congress today than they did two weeks ago as Senate leaders said they were searching for ways to provide emergency loans.
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If Congress demands contrition from the Detroit 3 in exchange for at least $34 billion in emergency federal loans, General Motors CEO Rick Wagoner is offering it. )x("",We made mistakes, Wagoner told the Senate Banking Committee today.
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Volkswagen CEO Martin Winterkorn and four other executive board members earned 25 million euros ($32 million) on VW shares and will give 10 percent of their earnings to charity. They are donating a total of 2.
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Brand new Tata shows off Indian firms impressive vision of the future.
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Sales of new imported cars in Japan, including Japanese brands built abroad, fell by 37.7% year-on-year in November, according to data released by the Japan Automobile Importers Association (JAIA).
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Disappointment and heartache in the truck business have failed to dampen Nissan North America Inc.'s enthusiasm for big trucks. Nissan today unveiled in suburban Detroit the largest U.S.
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Disappointment and heartache in the truck business have failed to dampen Nissan North America Inc.'s enthusiasm for big trucks. Nissan today will unveil in suburban Detroit the largest U.S.
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Quick response has helped Mazda ride the recession so far better than most of its rivals, Mazda Motor Europe's president said a the Bologna show.
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France took steps to shore up its embattled car industry on Thursday by giving incentives to consumers to buy new cars and pledging a 1 billion euro ($1.3 billion) credit line to help people finance any purchases.
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Overall vehicle sales in Canada fell 10.3% in November to 105,221 units versus the 117,284 sold in November 2007, according to figures released by a trade organisation.
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Western European new-car sales slumped by a quarter during November, according to figures released Thursday. Sales fell by 25 percent to 866,995 units, down from 1,156,428 in November 2007, J.D. Power Automotive Forecasting said.
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Antonov has announced that it has secured its first confirmed customer in China for its new TX6 six-speed automatic transmission system.
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Car sales in Western Europe fell by 25% in November. The West European market slide continued in November with the selling rate dipping to 11.8m units a year, according to data released by JD Power Automotive Forecasting.
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The United Automobile Workers union has said it will make major concessions in order help the US auto industry move forward. The announcement came after a meeting of members of UAW Ford, GM and Chrysler national councils yesterday.
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Honda of the UK Manufacturing - the automaker's car and engine facility in Swindon - has denied offering early retirement, as reported earlier today by Reuters, but said it is offering an "associate release programme".
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Honda of the UK Manufacturing - the automaker's car and engine facility in Swindon - has denied offering early retirement, as reported earlier today by Reuters, but said it is offering an "associate release programme".
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