Key members of Congress said today they are preparing emergency legislation that would provide more federal aid to the auto industry. House Speaker Nancy Pelosi, D-Calif.
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Key members of Congress said today they are preparing emergency legislation that would provide more federal aid to the auto industry. House Speaker Nancy Pelosi, D-Calif.
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Interest on auto loans would be deductible from federal taxes under legislation expected to be proposed by a member of Congress tomorrow, Automotive News has learned.
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Reeling from tight credit and falling sales here and abroad, India's automakers and suppliers are asking the government for financial relief.
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Sirius XM Radio Inc. posted a $4.8 billion write-down of goodwill related to its acquisition of satellite radio rival XM, and said the auto industry's "dramatic" woes have hurt subscriber growth.
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Sirius XM Radio Inc. posted a $4.8 billion write-down of goodwill related to its acquisition of satellite radio rival XM, and said the auto industry's "dramatic" woes have hurt subscriber growth.
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Shares of Navistar International Corp. tumbled more than 19 percent today after the company said it was reorganizing its commercial vehicle business to cope with what it called "one of the worst North American truck markets in recent history."
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Tata Motors, which recently shifted its Nano small car project to Sanand in Gujarat, will get benefits worth INR95bn from the state government for developing infrastructure around the project area, sources told an Indian newspaper.
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Turkish automotive output fell 20.5% year-on-year in October to 80,301 vehicles.
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Force Motors will be entitled to compensation of EUR8m when it cuts short a licensing deal with ZF Friedrichshafen AG, according to reports.
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GM Daewoo, which makes most of the hot-selling Chevrolet models keeping General Motors sales alive in emerging markets, is considering a temporary closure of plants amid a worldwide fall in demand.
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Baby R8 is here, new Ford B-Max revealed, best-ever Civic Type R driven, Honda Jazz takes on its rivals
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Soon after large dealer group Pendragon said it would lose GBP30m this year, a trade association called on the UK chancellor (finance minister) to reduce a key tax.
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General Motors' extremely distressed debt is an attractive investment as the automaker has several options to improve its liquidity and survive the economic downturn, according to credit analysts at J.P. Morgan.
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Hungarian auto worker Ferenc Sagi has read about the world financial crisis in the papers but did not think it would have much impact on his life in this sleepy town near the Austrian border. Now there is little else he can think about.
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NEW YORK (Reuters) - General Motors' extremely distressed debt is an attractive investment as the automaker has several options to improve its liquidity and survive the economic downturn, according to credit analysts at J.P. Morgan.
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UK vehicle dealer group Pendragon expects to report a full year loss for 2008 of GBP30m, it said in a statement to the stock exchange, adding that the group nonetheless continues to generate positive operating cashflows.
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Truck maker Volvo is to axe about 900 more jobs at its powertrain division in Sweden. The company confirmed the cuts today following a report by news agency TT.
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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
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