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Nov
12th

Chinese central government cools to clean diesel

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As China struggles to choose the best powertrain for future vehicles, an influential minister has gone cold to clean diesel in favor of gasoline hybrids and electric drive trains. Full story...
Nov
11th

UK: Retailer association urges tax cut

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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. Full story...
Nov
11th

RUSSIA: Car output up 20% in first nine months

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Russia's car output rose 20.1% year-on-year to 1.127m units in January-September, according to the Industry and Trade Ministry. Full story...
Nov
10th

JAPAN: Get a Life for minicar-first backup camera

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Honda Motor has begun selling a redesigned Life model in Japan, claiming it is the first minicar to include an audio system with a backup camera as standard equipment and the first car with a new type of driver airbag. Full Story...
Nov
10th

GM stock plunges 24% after analyst report

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General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. Full Story...
Nov
10th

Analyst: GM may fall below minimum cash needs in first quarter

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General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. Full Story...
Nov
10th

GM stock plunges 23% after analysts’ reports

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General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. Full Story...
Nov
10th

GM stock plunges 23% after analysts report

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General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. Full Story...
Nov
10th

GM stock plunges 23% after analyst report

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General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. Full Story...
Nov
10th

Reid: Lame-duck, with auto aid, may not fly

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A top Democratic leader today minimized expectations for a lame-duck session of Congress, set to begin Monday, Nov. 17. Senate Majority Leader Harry Reid, D-Nev. Full Story...
Nov
10th

New calls for U.S. Treasury to help carmakers

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There were fresh calls on Sunday for the Bush administration to help stalled U.S. automakers, but Democratic and Republican officials said taxpayers cannot repeatedly support business rescues. Republican Sen. Full Story...
Nov
10th

BMW wants exclusive Mini sales network

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BMW will cut its European Mini dealer network this year as it creates a separate distribution network for the small-car brand. The number of Mini dealers in Europe will drop to about 650 by year-end from 750 in 2007. Full Story...
Nov
10th

Suzuki expects boost from India car

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Suzuki is betting that Indian engineering, labor and suppliers will give its new Alto a competitive advantage when it is launched in Europe's fast-growing minicar segment in early-2009. Full Story...
Nov
9th

New calls for U.S. Treasury to help carmakers

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There were fresh calls on Sunday for the Bush administration to help stalled U.S. automakers, but Democratic and Republican officials said taxpayers cannot repeatedly support business rescues. Republican Sen. Full Story...
Nov
9th

Reid: Lame-duck, with auto aid, may not fly

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A top Democratic leader today minimized expectations for a lame-duck session of Congress, set to begin Monday, Nov. 17. Senate Majority Leader Harry Reid, D-Nev. Full Story...
Nov
8th

Democrats urge Paulson to weigh aid for automakers

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The top U.S. congressional Democrats urged Treasury Secretary Henry Paulson today to consider providing aid to troubled U.S. automakers as part of the Bush administration's corporate bailout efforts. Full Story...
Nov
7th

October Auto Sales Screech to a Halt

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October Auto Sales Screech to a Halt
2008 October Auto Sales - Car Sales Analysis - Automobile Magazine
Of course, the Wall Street meltdown and attendant consumer credit freeze - not to mention tens of thousands of pink slips handed down in October - didn't just affect GM, or the domestic auto makers.

"You can't have an automobile industry without a functioning credit market." So said GM chief sales analyst Michael DiGiovanni, on Bloomberg radio. "This is an industry that runs on credit." That's been the case ever since the 1920s, when GMAC, one of the first automaker-owned financing companies, began to popularize the idea of buying a car "on time". Now, ironically, a dramatically weakened GMAC (which has suffered billions in losses on subprime home loans as well as losses from over-optimistic residual values on returning off-lease vehicles) is a significant factor in dragging down GM sales. GMAC followed Chrysler's captive financing arm by quitting the automotive lease market, and in October began restricting auto loans to only those customers with top credit scores (shutting out roughly 2 out of 3 buyers).


Photo Gallery: 2008 October Auto Sales - Car Sales Analysis - Automobile Magazine


Full story...
Nov
7th

Canada cracks open door to auto aid, has questions

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TORONTO (Reuters) - Ottawa would consider granting fresh aid to the Canadian arms of Detroit's automakers only if it amounted to more than a short-term fix and was affordable, Prime Minister Stephen Harper's office said on Friday.
Nov
6th

UK: Mini Xmas shut-down extended

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BMW's Mini unit is adding an extra two weeks to its annual two-week UK factory Christmas shutdown, taking about 9,000 cars out of the schedule.
Nov
6th

Wild Honda Jazz is on song!

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This thrilling looking supermini from Honda is more than just a concept...
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