As we predicted on October 21, media mogul Ben Johnston, who just purchased the Atlantic series from former Champ Car owners Kevin Kalkhoven and Gerald Forsythe, has also bought numerous Reynard and Panoz race cars as he plans to promote a new race series that will be call the Green Prix USA.
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As we mentioned on October 21, Atlanta-area businessman Ben Johnston has purchased Atlantic Racing Series, LLC from Kevin Kalkhoven and Gerald Forsythe. Terms of the sale were not disclosed.
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NASCAR has taken over the AMA Pro Racing series and it has already announced its new class structure and weekend event package for the 2009 motorcycle road racing season. The AMA Superbike series will become the American Superbike series and will showcase the traditional 1,000cc machines.
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Ford Motor Co. is poised to cut North American production of cars and crossovers during the fourth quarter, sales analyst George Pipas said today.
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Chrysler LLC will begin assembling Europe-bound Chrysler Grand Voyagers in January, Benjamin Winter, Chrysler's chief minivan engineer, said today.
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General Motors today named Kevin Williams vice president and general manager of global service and parts operations for GM North America. Williams, 47, succeeds Doug Herberger, 57, who retired Nov. 1 after 35 years.
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U.S. auto suppliers urged the Bush administration to create a new loan guarantee program for the struggling industry and to accelerate loans under an already approved $25-billion program.
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Metaldyne Corp. raised the stakes today in its bid to buy back $392.2 million worth of debt from bondholders at 30 cents or less on the dollar by threatening to skip the next interest payment on those bonds.
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Chrysler LLC took recent cost-cutting moves to survive a steep sales downturn and the turmoil in financial markets, CEO Bob Nardelli said today.There was some speculation that Chrysler was cutting costs to ready itself for a sale.
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Germany's car import association, the VDIK, has estimated that Germany's car market declined by at least 10% in the month of October.
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Dana has announced that its board of directors has appointed John Devine to the expanded role of chairman and CEO. He takes over the CEO responsibility from Gary Convis.
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Supplier Dana Holding Corp. has named John Devine as CEO, replacing Gary Convis, who has led the company since April, the auto parts supplier said today.
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General Motors is launching two new incentives on most models, but they are targeted at select customers. And auto dealers say they have been told that GM's annual Red Tag sale, typically slated to start in mid-November, might start earlier.
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General Motors told dealers today it is starting its annual Red Tag sale early this year. The sale, which typically begins just before Thanksgiving weekend, will start tomorrow and run until January 5, dealers say.
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Volkswagen expects to be buying components worth EUR1bn a year in India for its global operations within two years.
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Volkswagen is reportedly planning to produce the vast majority of components for use in its hybrid and electric vehicles itself rather than use suppliers.
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Ford Motor Co. posted a 32 percent decline in U.S. sales in October as the industry braced for what may be weakest monthly sales report in 25 years. Ford sold 132,248 cars and trucks last month, down from 194,617 a year earlier.
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