China News

VW backs Porsche contracts for merger

Nov 20,2009

Volkswagen AG's supervisory board signed off on contracts drafted for a takeover of Porsche SE in stages, clearing the way for Europe's largest automaker to add the 911 sports car to its model ...

• Nissan chief: Electric car adoption to be gradual   [Nov 20, 2009]

  The head of the Nissan-Renault alliance said Thursday that customers' adoption of electric vehicles will be a slow and gradual process, with traditional gasoline-powered cars continuing to dominate ...

• GM says U.S. Nov auto sales rate may be 10.8 mln   [Nov 20, 2009]

  General Motors Co. said U.S. auto sales in November may run at an annualized rate of 10.8 million vehicles, the third-highest total this year, in a sign of improving industry health. "Things are ...

• U.S. November adjusted car sales seen up 0.4 pct   [Nov 20, 2009]

  Influential forecaster J.D. Power & Associates said on Thursday that it expected U.S. auto industry sales to increase slightly on an adjusted basis in November from a year earlier due to stable ...

• Chrysler may lose more than 100 U.S. dealerships   [Nov 20, 2009]

  More than 100 Chrysler Group LLC U.S. dealerships face possible closure if they cannot reach new financing deals with GMAC Financial Services or another lender, people involved in the process said on ...

• VW, Ford discount threatens German auto dealers   [Nov 19, 2009]

  Volkswagen AG and Ford Motor Co., preparing for a market decline in Germany after the end of the country's "cash for clunkers" program, are cutting prices at a near-record pace that dealers say may ...

• Obama pledges to allay concerns of auto lobby   [Nov 19, 2009]

  President Barack Obama said he is committed to pushing through a free trade agreement with South Korea that has been stalled by the U.S. auto lobby and unions, who argue it doesn't do enough to open ...

• Chrysler may drop 145 dealers on lack of financing   [Nov 19, 2009]

  Chrysler Group LLC may have to terminate as many as 145 more U.S. dealers unless the retailers can find lenders to finance their new-vehicle inventory. GMAC Inc., which replaced Chrysler Financial as ...

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  Ford tops safety list in U.S. insurance tests   [Nov 19, 2009]

  Twenty-seven vehicles earned the top safety rating in a U.S. insurance-industry group's 2010-model crash tests, less than a third of the number a year earlier after a measure of performance in ...

• Olympics-London 2012 signs BMW as auto partner   [Nov 19, 2009]

  German carmaker BMW became the latest Tier One partner for the London Olympics on Wednesday, joining an impressive list of major companies already signed up by the 2012 organising committee ...

• Hyundai Motor to sell Hyundai Mobis stake -report   [Nov 18, 2009]

  Hyundai Motor Co is planning to sell off its stake in affiliate Hyundai Mobis Co in block trade to comply with anti-trust rules, online media provider eDaily reported on Wednesday."In accordance with ...

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  Toyota Oct global vehicle sales up 5 pct y/y   [Nov 18, 2009]

  Toyota Motor Corp's global vehicle sales rose 5 percent in October to about 640,000 units, marking the first year-on-year increase in 15 months, Kyodo News reported on Wednesday.A spokesman said the ...

• GM rebound pivots on sales after CEO cuts costs   [Nov 18, 2009]

  General Motors Co. Chief Executive Officer Fritz Henderson, buoyed by $50 billion in U.S. bankruptcy aid, slashed debt and operating costs without returning to profit. His challenge now is to sell ...