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Ford’s Global CEO Reveals New Ford FIGO Targeting India Market and Export Sales Ford’s Global CEO Reveals New Ford FIGO Targeting India Market and Export Sales

India’s role as an important player in the future of Ford Motor Company’s international strategy was underscored today when the company’s President and CEO, Alan Mulally, unveiled an all-new car targeting the heart of the Indian car market – the new Ford Figo. The Ford Figo, a new nameplate and a fresh face on the Indian market, signals Ford’s intention to compete in India’s largest and most important small car market segment.

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Hyundai’s Global Brand Ranking Rises Hyundai’s Global Brand Ranking Rises

Hyundai has placed eighth among global automakers in the highly respected 2009 Global Brands Survey, surpassing several prominent brands including Porsche, Lexus and Nissan. The survey, conducted by Interbrand (a leading consultancy in branding) and BusinessWeek (a New York-based global business media organisation), looked at brands from all business fields - with Hyundai ranking 69th, up 15 places from its inaugural score in 2005. Since then, Hyundai has registered steady annual growth in...

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Tuscaloosa Builds the One Millionth Mercedes-Benz M-Class Sport Utility Vehicle Tuscaloosa Builds the One Millionth Mercedes-Benz M-Class Sport Utility Vehicle

The only Mercedes-Benz plant in North America celebrated a significant milestone– the production of the plant’s 1 millionth M-Class. The milestone vehicle is a fuel-efficient ML 350 BlueTEC diesel, destined for a West Coast Mercedes-Benz dealership. “Everyone here at MBUSI is extremely proud to have reached this milestone,” said Ola Kaellenius, who assumed leadership of the plant in June 2009 as the new President and CEO of MBUSI.

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Chrysler Group LLC Announces Production of Grand Voyager Chrysler Group LLC Announces Production of Grand Voyager

Chrysler Group LLC today announced that the company's Windsor Assembly Plant has begun production of Grand Voyagers for international markets. The facility's Flexible Manufacturing System enables diesel models and right-hand drive versions to be built on the same line as the left-hand drive and petrol models. The Chrysler Grand Voyager is sold in more than 80 countries. Chrysler first began offering right-hand drive versions of its people mover in 1997 for markets such as the United Kingdom,...

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Hyundai to Expand i20 Production to Europe Hyundai to Expand i20 Production to Europe

In response to growing customer demand, Hyundai Motor Company is expanding its production plant in Turkey, primarily to build the i20, designed in Europe for European customers. A leading product in its segment, the i20 will be produced in left hand drive for European markets at Hyundai Turkey’s Izmit Plant, starting from May 2010 – a move that will see an additional investment of US$75 million. The UK, where i20 was recently recognised as What Car? Magazine’s Supermini Best Buy £8,000 -...

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Audi Unveils Australian Flagship Audi Unveils Australian Flagship

Audi Australia Pty Ltd (Audi) will officially open its $50 million ‘Lighthouse’ brand terminal on South Dowling Street in Sydney, on Thursday 20 August 2009. Clearly demonstrating its confidence in the Australian market, German luxury carmaker, Audi, says the development of this flagship facility – the largest of its kind in the world - was embraced by the company’s global Board of Directors.

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New Dealers Around the Country Add Strength to Proton Push New Dealers Around the Country Add Strength to Proton Push

Proton has announced it's successfully recruited a number of new dealers in key regional and metropolitan areas around the country as part of its program to rebuild its national network. The Proton dealer network is again 35 following the appointment of six new dealers across the country in the past month, while the company has accepted applications from a number of other dealers ahead of the launch in October of a new entry level car that promises to be Australia's lowest priced four door...

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Broad Approval for Integration of Volkswagen and Porsche Broad Approval for Integration of Volkswagen and Porsche

The Supervisory Board meetings of Volkswagen Aktiengesellschaft and Porsche Automobil Holding SE which took place in Stuttgart on Thursday cleared the way for an integrated automotive group combining Volkswagen and Porsche. The details of a final joint concept will be worked out over the coming weeks. Representatives of the Porsche and Piëch families, the State of Lower Saxony and the workforce of both companies have however already expressed their great satisfaction with the foundations that...

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Renault-Nissan Alliance Takes Initial Zero Emission Mobility Move in Europe Renault-Nissan Alliance Takes Initial Zero Emission Mobility Move in Europe

Nissan Motor Co., Ltd., within the Renault-Nissan Alliance, has announced together with the governments of the United Kingdom and Portugal their plans to build two plants for the production of its advanced lithium-ion batteries in Europe. In doing so, the Renault-Nissan Alliance marks the first significant step towards producing batteries for its Zero Emission Mobility Program in Europe. The two governments have offered to extend financial assistance and other support to ensure that Nissan...

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Dodge Viper SRT10 Will Live On Dodge Viper SRT10 Will Live On

Chrysler Group LLC announced that production will continue for the legendary Dodge Viper SRT10. Originally slated to cease production in December 2009, the Chrysler Group Conner Avenue Assembly Plant — the exclusive home of Dodge Viper production since 1995 — will continue to build the V-10 powered sports car. Chrysler Group is no longer pursuing a sale of the Viper business assets. “The Dodge Viper has successfully captured the hearts and imagination of performance enthusiasts around...

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Koenigsegg and GM Agreement For Saab Koenigsegg and GM Agreement For Saab

General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab’s future. The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to...

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GM and Penske Announce Deal to Purchase Saturn GM and Penske Announce Deal to Purchase Saturn

General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand. The proposed transaction is part of GM's rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the...

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Sichuan Tengzhong To Buy Hummer Sichuan Tengzhong To Buy Hummer

Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong) and General Motors Corp. today confirmed details of their proposed transaction, pursuant to which, Tengzhong, a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior management and operational team. It will also assume existing dealer agreements relating to HUMMER’s dealership network. It is contemplated that Tengzhong will, as part of the transaction, enter into a...

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Plug-in STELLA to Start Japan Sales Plug-in STELLA to Start Japan Sales

Subaru’s innovative electric car, the Plug-in STELLA, is going on sale in Japan, with deliveries starting from late July. Around 170 Plug-in STELLAs are expected to be sold over the next Japanese fiscal year, ending March 31, 2010. Powered by a high performance lithium-ion battery, the production four-door Plug-in STELLA offers up to 90 kilometres range.

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Mazda is Australia’s Number One Small Car Mazda is Australia’s Number One Small Car

Mazda3 continued to make in-roads with Australian new car buyers last month: The sleek, sporty and compact small car celebrated its best May ever as the country’s highest-selling small car and number two passenger car overall. According to VFACTS figures released today Mazda sold 3,038 Mazda3s in May, topping the small car sales tally for the third time this year with a 20.3 percent share in the sub $40k Small car segment.

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Court Approves Sale of Chrysler Operations to Fiat Court Approves Sale of Chrysler Operations to Fiat

Chrysler LLC today announced that the U.S. Bankruptcy Court, Southern District of New York, has approved its request to sell substantially all of its operations to Chrysler Group LLC, the new company formed in alliance with Fiat SpA. “With this approval, the new Chrysler Group is created and can prepare to launch as a vibrant new company formed with Fiat,” said Robert L. Nardelli, Chairman and Chief Executive Officer of Chrysler LLC. “Through the hard work and foresight of many Chrysler...

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Buy a Mitsubishi Triton, Get a Goat Free Buy a Mitsubishi Triton, Get a Goat Free

In a drive to help the rural community stave off the recession, Mitsubishi Motors is supporting primary productivity by offering a free goat with every new Triton sold before August. “We firmly believe that New Zealand’s recovery is in the hands of the rural sector and they’re the people who are buying our utes,” said MMNZ general manager of sales and marketing Peter Wilkins. “Goats, like our Tritons, are hardy, versatile units, which will integrate directly into existing farm operations”....

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A New Step Forward for the Renault and Nissan Alliance A New Step Forward for the Renault and Nissan Alliance

“Over the last decade, we used the Alliance to develop win-win synergies between Renault and Nissan, and that approach worked well when both were profitable and growing,” says Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance. “Today, we have to move faster. Seeking synergies is no longer optional, but mandatory. We have assigned a group of experts to focus on building greater synergies to get us through the crisis and position us competitively for the future.”

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Volkswagen and BYD Possible Partners for Electric Technology Volkswagen and BYD Possible Partners for Electric Technology

Partnership in the area of electric mobility to be explored During an informational visit by the Chinese carmaker BYD "Build Your Dreams" - led by the Chairman of the Board of Management, Wang Chuanfu - a memorandum of understanding was signed last week by Mr Wang and Dr Winterkorn. Dr. Ulrich Hackenberg, Member of the Board for Technical Development at Volkswagen, insisted on personally providing the delegation of Chinese top managers with information. The visit, which took...

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Lotus Business is Bouyant Lotus Business is Bouyant

Despite the global downturn, Group Lotus business is buoyant with the introduction of the all-new car, the Evora, and increased contract engineering. Monday, 4th May 2009 saw the beginning of a two-week long press launch of the long-awaited new Lotus Evora at Loch Lomond in Scotland, a launch which has now been hailed as a huge success for the company. Long-awaited for most companies might be a few years, but for Lotus it is the first all-new car in 14 years and all staff are extremely...

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Daimler Acquires 10 Percent of Tesla Motors Daimler Acquires 10 Percent of Tesla Motors

Daimler AG has acquired an equity stake of nearly 10 percent of Tesla Motors Inc. This investment deepens the relationship between the inventor of the automobile and the newest member of the global auto industry. Tesla is the only production automaker selling a highway capable electric vehicle in North America and Europe. The two companies have already been working closely to integrate Tesla’s lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler’s electric...

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Audi, Premium Market Leader in Europe Audi, Premium Market Leader in Europe

AUDI AG further consolidated its market shares in April in key markets such as the USA and Western Europe. The brand with the four rings even set a new sales record in China. Though worldwide automobile sales decreased considerably in April, Audi sales fell by only 5.6 percent — and less than the competitors’ figures. “We have been receiving more orders thanks to new models like the Audi Q5, the recently launched A5 Cabriolet, and the A4 2.0 TDI e — the most efficient standard-size model on...

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GM Losses Hit $6bn GM Losses Hit $6bn

General Motors, which is attempting to stave off bankruptcy, made a loss of $6 billion and burned through $10.2 billion in cash during the first quarter of the year. GM said it was accelerating its restructuring after suffering the losses amid the continued slump in global car markets. The company is surviving on a US Government bail-out and has until June 1 to produce restructuring plans to satisfy the US president Barack Obama or face being forced into Chapter 11 bankruptcy.

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Carmakers Volkswagen and Porsche to Merge Carmakers Volkswagen and Porsche to Merge

Carmaker Porsche says it has agreed a merger with fellow German manufacturer Volkswagen after weeks of talks between the two firms’ management. The luxury carmaker said in a statement that it wanted to see the ‘creation of an integrated car manufacturing group’. Volkswagen hailed the decision of the Porsche and Piech families, owners of the Porsche group who also have significant interests in Volkswagen, to create the merger. It will bring the nine Volkswagen-owned brands and Porsche into...

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Jaguar Talks Close to Collapse Jaguar Talks Close to Collapse

Talks between Jaguar Land Rover, the largest UK-based carmaker, and the Government on a package of financial support are close to collapse. JLR, which is owned by Indian conglomerate Tata, has been involved in discussions with the Government on guarantees on a £340 million loan from the European Investment Bank and a £400m financial aid package from state-backed banks Royal Bank of Scotland and Lloyds Banking Group. The carmaker has received what it was told was a final offer from the...

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Fears Grow Over Vauxhall’s Future Fears Grow Over Vauxhall’s Future

Fears are growing for the future of Vauxhall’s operations in the UK amid further claims in Germany that Fiat has a radical plan for closures if it succeeds in taking over GM Europe. GM Europe, the parent company of Vauxhall in the UK and Opel in Germany, is looking for investment from a third party. Fiat’s plans to buy GM Europe emerged over the weekend and reports in Germany have suggested that while plants there are safe, other GM Europe factories could close.

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GM Reveals Restructuring Plan Details GM Reveals Restructuring Plan Details

General Motors has outlined proposals to pay off its debts by issuing new shares that would effectively wipe out the holdings of its existing investors. GM said in a Securities and Exchange Commission (SEC) filing: “There will be very substantial dilution to existing holders of GM common stock.” The plans are subject to discussions with the US Treasury department.

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Porsche to Decide Sale Within 24 Hours Porsche to Decide Sale Within 24 Hours

The Porsche family will decide tomorrow (Wednesday, May 6) whether to sell the sports car manufacturer to Volkswagen for €11 billion. Wolfgang Porsche, Ferdinand Piech and the other three most important owner representatives will meet then to discuss how to solve the financial problems of the firm after failing to reach an agreement last week.

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Fiat Could Buy Vauxhall and Opel Fiat Could Buy Vauxhall and Opel

Italian carmaker Fiat is in talks about buying the European business of General Motors (GM) - which includes the UK’s Vauxhall and Germany’s Opel brands. Fiat is already taking a 20% stake in Chrysler, the US carmaker that has applied for US bankruptcy protection. And it said it was considering merging its carmaking business with those of Chrysler and GM Europe in what is being viewed as a long-awaited major consolidation of the global motor industry. Saab is also part of GM Europe,...

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Hyundai Moves up to 5th Best Selling Brand Hyundai Moves up to 5th Best Selling Brand

Following a strong 1st quarter performance, Hyundai has continued its progressive growth in April. Hyundai was the only top 10 brand to post a sales increase in both April as well as the first four months of 2009 compared with the same period last year, realising a 12.3% (April 2009 v. April 2008) and 12.2% (April YTD 2009 v. April YTD 2008) increase. Market share for the first four months of 2009 was 6.1% with 16,895 cars sold.

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Fall in April New Vehicle Sales Fall in April New Vehicle Sales

Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) shows that 63,965 passenger cars, SUVs and commercial vehicles were sold in April 2009 – down 23.9 per cent (20,096 vehicles) compared to the same month in 2008. “While the figures confirm that market conditions remain soft, the extent of the fall has been compounded by the timing of the Easter holidays,” FCAI Chief Executive Andrew McKellar said.

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Business as Usual at Chrysler Australia Business as Usual at Chrysler Australia

It’s business as usual at Chrysler Australia after Chrysler LLC overnight announced a proposed strategic alliance with Fiat SpA and filed for protected restructuring, under Chapter 11 of the United States bankruptcy provisions, as part on-going organisational changes. Chrysler’s international operations are not part of any bankruptcy filing, including Australia and New Zealand. Chrysler Australia will continue to provide quality motor vehicles, parts and services to Australian consumers...

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Honda Insight Off to a Flying Start in the UK Honda Insight Off to a Flying Start in the UK

With only a few days remaining in its first month of sales, the Honda Insight is outselling its competitors in the hybrid market. Since the affordable hybrid car went on sale on 4 April, 229 Insights have been sold in the UK, ahead of its nearest rival the Toyota Prius (198 units). Together with Civic Hybrid (79 units), Honda (UK) has sold 308 hybrid family cars this month, despite April being known as one of the quietest months in the sales calendar.

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Chrysler and Fiat Announce Global Strategic Alliance Chrysler and Fiat Announce Global Strategic Alliance

Chrysler LLC announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company. It will allow Chrysler and Fiat to fully optimize their respective manufacturing footprints and the global supplier base, while providing each with access to additional markets. Fiat powertrains and components will also be produced at Chrysler...

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GM Confirms Pontiac Brand Will Phase Out by 2010 GM Confirms Pontiac Brand Will Phase Out by 2010

General Motors (NYSE: GM) today presented an updated Viability Plan that will speed the reinvention of GM's U.S. operations into a leaner, more customer-focused, and more cost-competitive automaker. The Viability Plan is included in an exchange offer whereby GM is offering certain bondholders shares of GM common stock and accrued interest in exchange for certain outstanding notes.

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Volkswagen to Produce the New Small Family in Slovakia Volkswagen to Produce the New Small Family in Slovakia

Decision on production location taken/total investment of 308 million euros in Bratislava plant. Europe's largest carmaker, Volkswagen, has set its course for the future. Yesterday, a decision on the production location for the future New Small Family was taken. Professor Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft: "Our team at Volkswagen in Slovakia is ideally prepared to provide the flexibility required for the production of the New...

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Motorcycle Sales Fall During First Quarter Motorcycle Sales Fall During First Quarter

Figures released by the Federal Chamber of Automotive Industries (FCAI) show 26,241 motorcycles, scooters and all-terrain vehicles (ATVs) were sold to the end of March – a 15.5 per cent decline compared to the same period in 2008. “There are signs that the motorcycle market has softened in the past three months, however it has to be remembered that it is being compared to the record sales result of 2008,” FCAI Chief Executive Andrew McKellar said. “There are obvious financial benefits of...

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Ford Announces Successful Debt Reduced by $9.9 billion Ford Announces Successful Debt Reduced by $9.9 billion

Ford Motor Company (NYSE: F) announced today the successful completion of debt restructuring initiatives that will reduce Ford's Automotive debt by $9.9 billion from $25.8 billion at December 31, 2008, and lower Ford's annual cash interest expense by more than $500 million based on current interest rates. "By substantially reducing our debt, Ford is taking another step toward creating an exciting, viable enterprise," said Ford President and CEO Alan Mulally. "As with our...

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Audi Claims its Most Successful Sales Quarter in History Audi Claims its Most Successful Sales Quarter in History

Audi Australia has achieved its most successful sales quarter in the company’s history, maintaining its position as the fastest growing premium brand in the country. March sales of 846 vehicles, up from 809 in 2008, have helped to propel Audi to its most successful quarter, following on from extremely strong months in January and February. This takes the total number of vehicles sold year-to-date to 2,733, a growth of 5.2%, compared with 2,599 sold in the first quarter of 2008. This upward...

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Subaru Sales up 18.4% in March Subaru Sales up 18.4% in March

Subaru sales of 3415 vehicles in March were up 18.4 per cent over the same month last year, according to official VFACTS figures released today. Subaru’s market share for the month was 4.5 per cent, compared to 3.2 per cent last March. Year-to-date, Subaru’s market share is 4.4 per cent, against 3.9 per cent this time last year. Sales of 1323 Foresters increased 84.8 per cent over last March, giving it a 19.5 per cent share of the Compact SUV category. While sales in the segment are...

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Porsche Records Profits Porsche Records Profits

After the first six months of the current 2008/09 business year (August 1, 2009 to January 31, 2009), Porsche Automobil Holding SE, Stuttgart, has posted profits before taxes of EUR 7.34 billion; this compares with EUR 1.66 billion in the same period of the previous year. The principal reason for this dramatic increase is the positive contribution to profits from cash-settled share option transactions by which Porsche participates in changes in the stock exchange price of VW shares. This...

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Volkswagen Commercial Vehicles Achieve Record Sales Volkswagen Commercial Vehicles Achieve Record Sales

Despite the difficult background conditions in the second half of 2008 Volkswagen Commercial Vehicles sold more vehicles than ever before and also achieved new record values in turnover and operative profit. “All in all, 2008 was a very good year for our brand” emphasized Mr Stephan Schaller, CEO of Volkswagen Commercial Vehicles, on Wednesday at the annual press conference in Hanover. However, Volkswagen Commercial Vehicles could not escape the effects of the dramatic worldwide drop in demand...

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Isuzu Ute Ups D-MAX Sales and Dealers in its First Half Year Isuzu Ute Ups D-MAX Sales and Dealers in its First Half Year

Car market relative newcomer Isuzu UTE Australia (IUA) has increased sales of its well-reputed Isuzu D-MAX diesel one-tonne ute and cab/chassis range every month in its first six months of operation, while upping its retail outlets to over 60 dealers nationwide. Dealer signings into the national Isuzu UTE network have swelled from 38 at launch early last October to 61 currently. Isuzu UTE Australia managing director Hitoshi Kono said IUA bucked the recent downward trend of most auto...

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Restructuring Plans Rejected, GM Respond Restructuring Plans Rejected, GM Respond

GM Statement on Auto Industry Restructuring: Today's announcement by President Obama begins a new era for the U.S. auto industry. It also marks a defining moment in the history of General Motors. The U.S. Treasury will provide working financing capital for GM for 60 days while GM completes a more accelerated and aggressive restructuring to put the company on sound long-term financial footing. We understand the historic opportunity this presents, and we are fully committed to successfully...

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Chrysler Respond to the Announcement by the Administration Chrysler Respond to the Announcement by the Administration

Today marks an important milestone for Chrysler LLC. We are encouraged by the commitments of the Administration, U.S. Treasury and President’s Auto Task Force to the American automobile industry and Chrysler’s viability, with a Fiat alliance. We are pleased that Chrysler, Fiat and Cerberus have reached agreement on a framework of a global alliance, supported by the U.S. Treasury. Chrysler has consistently said that the alliance with Fiat enhances its business model that expands its global...

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Porsche Secures 10 Billion Credit Line Porsche Secures 10 Billion Credit Line

Porsche Automobil Holding SE, Stuttgart, finalised negotiations to secure a new credit facility of Euro ten billion to redeem a credit of the same size. The credit framework contract allows Porsche to extend the volume to Euro 12.5 billion in the forthcoming weeks. In the wake of the extremely difficult global economic environment and the turbulences in the bond market banks needed additional assessment, thus resulting in a need for extra time. In addition to that, the new consortium includes...

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Aabar Investments to Become a Major Daimler Shareholder Aabar Investments to Become a Major Daimler Shareholder

Daimler AG (stock-exchange abbreviation DAI) welcomes Aabar Investments PJSC (Aabar) of Abu Dhabi, as a major investor. Daimler increases the share capital by approx. 10% with exclusion of subscription rights of existing shareholders. After acquiring all new shares, Aabar will hold approx. 9.1% of the new share capital. The capital increase was approved by Daimler's Supervisory Board today. Aabar is an investment company headquartered in Abu Dhabi and is listed on the Abu Dhabi Securities...

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Change of Plans for Mitsubishi Motors in Europe Change of Plans for Mitsubishi Motors in Europe

Taking into consideration the structural nature of the crisis the world economy is going through and, therefore, its lasting impact on all stakeholders in the automotive industry, Mitsubishi Motors Corporation (MMC) has decided to act pro-actively with structural changes in its organisation to better prepare for tomorrow. A first example was the recent consolidation of its Design & Engineering functions to a central location in Japan, reflecting a fundamental shift in its long-term...

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Audi Gets Best-Ever Vehicle Sales and Revenue for 2008 Audi Gets Best-Ever Vehicle Sales and Revenue for 2008

Despite the already noticeable effects of the financial downturn, the Audi Group ended the 2008 fiscal year with yet more record-breaking figures for production, vehicle deliveries, revenue and profit. “With our 13th successive deliveries record, 2008 was the most successful fiscal year in the history of our company.We have been steadily improving our productivity in recent years, and the main financial figures for 2008 reflect this.These positive effects make it easier for us to respond...

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1000th Ferrari in Hong Kong 1000th Ferrari in Hong Kong

A special ceremony to mark the 1,000th Ferrari delivered in Hong Kong took place in Victoria Harbour yesterday. Over 65 international media from Hong Kong, Macau and the adjacent markets participated in this significant milestone for Ferrari in the Asia-Pacific region. From the first Ferrari delivered to a Hong Kong customer in the early 1960's, now, some 45 years later, this 1,000th car is a new 612 Scaglietti ‘One-To-One', the flagship of the current Ferrari range which was specially...

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New Vehicle Sales Fall 21.9% in February New Vehicle Sales Fall 21.9% in February

Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) shows that 70,241 passenger cars, SUVs and commercial vehicles were sold in February 2009 – down 21.9 per cent (19,657 vehicles) compared to the same month in 2008. “This result is consistent with the trend of recent months and reflects the impact of broader economic conditions on the new vehicle market,” FCAI Chief Executive Andrew McKellar said. The industry is urging potential car buyers to consider...

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Hyundai Sales Lift in February Hyundai Sales Lift in February

Following a strong start to the year with a market share of 5.5% in January, Hyundai Motor Company Australia has continued its strategic market growth in February. With 4,151 vehicles sold, Hyundai achieved a 5.9% market share in February, the company’s highest result since the factory owned subsidiary was set-up in late 2003 (the last time Hyundai cars had achieved a market share of 5.9% was December 2001). Hyundai was the only volume brand to post a sales increase in February compared...

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Mazda's Small Car Reaches 400,000 Milestone Mazda's Small Car Reaches 400,000 Milestone

The Mazda3 continued its impressive start to 2009, notching up 2,989 sales to be Australia's best-selling small car in February, according to VFACTS data released today. February was a month of milestones for Mazda's popular small car in its second last full month on sale - the new-generation Mazda3 arrives in April, earlier than first expected. Sales of the Mazda3 helped the country’s top-selling full-line vehicle importer achieve an 18 per cent share in the Small Car <40k segment. ...

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Audi Australia Holds Firm at the Top End Audi Australia Holds Firm at the Top End

Following February 2009 sales results of 806 units, Audi is maintaining its position at the top end of the premium car market in Australia. With steady growth in January of 5.5% and in February of 5.4%, the German premium carmaker has sold 1,887 units year-to-date. This result puts Audi in the No. 2 position in the premium market, and perhaps more importantly, the only brand showing positive growth. The result also means that Australia also holds steady as the top-selling market in the...

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Strong Results for Chrysler Australia in February Strong Results for Chrysler Australia in February

February results for Chrysler Australia are in - and combined vehicle sales are up by 20% over last month and down 15% year to date. Last month Chrysler Australia finished third behind China and Venezuela when ranked against all markets outside North America. Australia is the number one right hand drive market for Chrysler LLC. Leading the charge for Chrysler Australia was the Dodge brand which was up an incredible 31% year to date with a record month for the bold Dodge Nitro and...

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Honda Showrooms in the Palm of Your Hand Honda Showrooms in the Palm of Your Hand

Honda Australia is bringing their showroom to you – AND it fits right in the palm of your hand! In a world first for Honda, the revolutionary Honda iShowroom is a mobile car showroom that can be downloaded to the Apple iPhone and the latest iPod Touch. Visitors to the Melbourne International Motorshow can see the Honda iShowroom in action. Honda staff will be happy to demonstrate the features for you. See all the latest vehicles in the Honda range. You can even compare the available...

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Volkswagen Increases Revenue and Operating Profit in 2008 Volkswagen Increases Revenue and Operating Profit in 2008

Volkswagen Aktiengesellschaft today issued an ad hoc announcement on its key financial data for the 2008 fiscal year. With a 4.5 percent increase in sales revenue to EUR 113.8 billion, the Group’s operating profit rose by 3.0 percent to EUR 6.3 billion. “We met our target and surpassed our record results for 2007 even though conditions were tougher,” the Chairman of the Board of Management of Volkswagen Aktiengesellschaft, Prof. Dr. Martin Winterkorn, said in Wolfsburg on Monday.

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Mercedes-Benz First To Offer Leasing In China Mercedes-Benz First To Offer Leasing In China

Mercedes-Benz Auto Finance China (MBAFC) will become the first auto finance company to offer vehicle leasing in China. After entering the Chinese market with financing and insurance offerings in November 2005, MBAFC – a subsidiary of Berlin-based Daimler Financial Services AG – has now completed its product range by adding leasing to its services. “We welcome the government’s decision to enable auto finance companies to offer leasing in China, as we believe this will have a positive...

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Over 1,500 Mercedes-Benz Econic Delivered in a Single Year Over 1,500 Mercedes-Benz Econic Delivered in a Single Year

Last year more than 1500 units of the Mercedes-Benz Econic waste collection truck were ordered, the first time such a figure has been exceeded. The milestone vehicle has now been delivered to the municipal cleaning services in Kassel. In purchasing this vehicle, the city of Kassel has now changed over its entire fleet of vehicles, which are used for the disposal of residual waste, bio-waste, bulk refuse, yellow bags and waste paper, to the Mercedes-Benz Econic.

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Saab Files for Bankruptcy in Swedish Courts Saab Files for Bankruptcy in Swedish Courts

As a result of GM's strategic review of the global Saab business the Saab Board announced today that it will file for reorganisation under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for investment. The reorganisation is a self-managed, Swedish legal process headed by an independent administrator appointed by the court who will work closely with the Saab management team. As part of the process, Saab will formulate...

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Hyundai Adds Payment Relief to Existing Assurance Program Hyundai Adds Payment Relief to Existing Assurance Program

Hyundai Motor America will expand the protection offered by the innovative Hyundai Assurance program with Hyundai Assurance Plus, adding 90 days of payment relief to the existing protection plan. Hyundai Assurance Plus is part of Hyundai's Spring Sales Event, which runs from Feb. 23 to April 30, 2009. Hyundai Assurance, which debuted in January, allows consumers to return any new Hyundai leased or financed in 2009 if the owner unexpectedly loses his/her income within one year of the purchase...

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Lotus is Combating the Economic Crisis with Tax Benefits Lotus is Combating the Economic Crisis with Tax Benefits

Lotus cars are known for their handling strengths and, with a number of initiatives, look set to handle 2009 with a positive outlook and pricing plans designed to encourage buyer confidence in a time of financial pressure. Lotus Cars Australia is combating the economic crisis with tax benefits, stable pricing and drive away deals to reinforce that it’s a buyers’ market, and that finding an improved deal doesn’t always have to mean boring.

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GM Presents U.S. Government Updated Plan GM Presents U.S. Government Updated Plan

General Motors (NYSE: GM) today presented the United States Department of Treasury with an updated plan that boldly responds to the weaker global auto market conditions and details the company's long term viability. The plan, which provides a comprehensive review of key aspects of GM's restructuring, is the first of two status reports required by the loan agreement signed by GM and the U.S. Treasury on Dec. 31, 2008.

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Chrysler 's Letter to Stakeholders Chrysler 's Letter to Stakeholders

Today, Chrysler LLC submitted its viability plan to U.S. Treasury Secretary Geithner in line with the government's deadline. It gives detailed information on how we will achieve and sustain long-term viability. We believe our submission meets the terms of the federal loan demonstrating our viability as a stand-alone company, as well as the potential benefits of a strategic alliance.

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Chrysler LLC Viability Plan Submitted Today Chrysler LLC Viability Plan Submitted Today

Chrysler LLC today submitted its viability plan to the U.S. Treasury Department, outlining the Company’s plans to: enhance its product lineup; complete its ongoing aggressive restructuring; and achieve cost reducing concessions from stakeholders. The Company’s plan is required to be finalized by March 31. The submission outlines significant progress towards meeting the terms of the U.S. Treasury Department’s loan agreement related to achieving competitive costs and increasing fuel economy.

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2008: Another Successful Year for Mercedes-Benz Vans 2008: Another Successful Year for Mercedes-Benz Vans

Daimler AG achieved global sales of 287,205 vehicles in the Van segment in 2008 (previous year: 289,073). Sales in Germany were at 71,763 units (previous year: 71,258), thus marking a new sales record. A new high was also achieved in the Netherlands with 12,883 units. The number of vehicles sold in the UK increased by 2,900 to 31,105 and in sales in Belgium rose by 2,100 units to 9,289 vehicles.

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VW and Toshiba Partnership VW and Toshiba Partnership

Volkswagen AG (Wolfsburg) and the Toshiba Corporation (Tokyo) have signed today a letter of intent in Wolfsburg. The objective is a cooperation for the development of electric drive units and the accompanying power electronics for Volkswagen's planned New Small Family. Furthermore, Volkswagen and Toshiba are planning the development of battery systems with a high specific energy density for the next generation of electric vehicles.

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Tesla to be Profitable by Mid Year Tesla to be Profitable by Mid Year

The $40M financing round completed in December was twice the amount Tesla needed to reach profitability. Moving forward two months later, we remain on track with our cost reductions and production ramp, so it appears highly likely that Tesla will meet the goal promised to those investors of becoming profitable by mid year. The main reason for this confidence is that Tesla is already in the fortunate position of being sold out until early November, something few automakers can claim, and will...

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BMW to Make First Two Payments For Financed Customers BMW to Make First Two Payments For Financed Customers

BMW USA is introducing a two payment program for select models throughout its vehicle line-up. In this initiative, BMW will make the first two payments (up to $750 per month / $1,500 max.) for vehicles financed through BMW Financial Services. The program is available for 18 different BMW models, including a choice of BMW 1 Series, 3 Series, 5 Series, 6 Series, and X5 models.

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Ferrari Set a New Sales Record in 2008 Ferrari Set a New Sales Record in 2008

The legendary Italian super car maker, Ferrari, set another sales record in 2008 and it plans to be entirely energy self sufficient by 2010 further enhancing Ferrari’s unique reputation for cutting edge technology. In 2008 Ferrari delivered results that beat all previous Company records. The strong Return on Sales (ROS) growth seen in recent years continued, reaching 17.6 per cent compared to 15.9 per cent in 2007. This was an outstanding result in the car sector in general and is especially...

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GM to Reduce Salaried Employment Levels GM to Reduce Salaried Employment Levels

GM is notifying its employees that it will reduce salaried employment globally from a current level of 73,000 to approximately 63,000. These reductions are expected to take place in 2009. These difficult actions are necessitated by a severe drop in vehicle sales worldwide and by the need to restructure GM for long-term viability. GM outlined the need for the reductions in its restructuring plan submitted to Congress on December 2, 2008. The announcement this week begins implementation of...

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Nissan Net Loss at 83.2 Billion Yen in Third Quarted FY08 Nissan Net Loss at 83.2 Billion Yen in Third Quarted FY08

Nissan Motor Co. Ltd, today announced financial results for the third quarter of fiscal year 2008, ending March 31, 2009, as well as for the first nine months. In the third quarter, the consolidated net loss after tax came to 83.2 billion yen (US $0.81 billion, euro 0.55 billion), compared to net income of 132.2 billion yen (US $1.28 billion, euro 0.87 billion) from the same period a year ago. The loss is driven by the severe downturn in the global economy in the second half of calendar year...

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Mazda's Third Quarter Financial Results for Fiscal Year 2008 Mazda's Third Quarter Financial Results for Fiscal Year 2008

Mazda Motor Corporation today reported its financial results for the first nine months (April to December) of fiscal year (FY) 2008 and announced its full year financial projections.

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Saleen Sells Almost All of its Assets Saleen Sells Almost All of its Assets

After announcing it was looking for a buyer in early November, Saleen Incorporated announced today that MJ Acquistions has acquired certain assets of America's premier automotive lifestyle brand, relating to Saleen's supercharger, aftermarket and high performance street vehicle businesses. The transaction reportedly was finalized last Friday, which left all of the employees (including Saleen Inc. CEO Chris Theodore) with the legal formality of being without jobs -- at least temporarily....

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Mercedes-Benz AMG Hits Record Sales in 2008 Mercedes-Benz AMG Hits Record Sales in 2008

Mercedes-AMG GmbH is celebrating the most successful year in its company history. AMG, the performance brand within Mercedes-Benz Cars, succeeded in increasing unit sales worldwide by 19 per cent, selling 24,200 vehicles (previous year 20,300) and bucking the market trend in extremely difficult conditions. As in previous years, the USA was the strongest market for AMG with a share of 38 per cent of total sales. Germany came in second place (13 per cent), followed by Japan (8 per cent). The...

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Strong Start for Suzuki - (Australia) Strong Start for Suzuki - (Australia)

Suzuki has started 2009 strongly, increasing market share and narrowly missing on securing a record January sales result. A total of 1596 Suzukis were sold in January, falling just 99 vehicles short of the record January 2008 figure. That represents a 5.9 per cent decrease year on year, against a total market that was down more than 18 per cent. Suzuki increased its market share by almost half a percentage point, from 2.0 to 2.4 per cent.

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BMW M Sales Up 50 Percent BMW M Sales Up 50 Percent

High-performance sports cars continue their worldwide success - dynamic development also of M Sports Packages and BMW Individual. Munich. Delivering 24 186 BMW M Automobiles to customers in the 2008 business year, BMW M GmbH has scored the second-best result in the thirty-year history of the company, increasing sales by approximately 50 per cent over the previous year. "Particularly the ongoing high level of BMW M Car sales also in the second half of the year underlines the great...

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Historic January High for Audi Historic January High for Audi

Audi Australia has continued its strong sales run from 2008 into January 2009, growing by 5.5 percent compared with the previous year. An all-time historic high of 1081 cars were sold in Australia last month (January 2009 vs 1025 January 2008). Audi’s managing director, Joerg Hofmann, says the result is testament to Audi’s growing image in Australia on the back of four years of record growth and the strong products on offer.

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Honda’s Four-Month Production Break Begins Honda’s Four-Month Production Break Begins

Honda will close its Swindon factory for four months after today’s (Friday, January 30) shifts are over. The halt will affect just over 3,000 of the 4,000 employees, who will receive their full basic pay for the first two months, but around 60% thereafter. The shutdown is thought to be one of the longest in Britain’s recent industrial history. The move is in response to the downturn in the UK and global car markets.

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Porsche Cannot Escape General Downward Trend Porsche Cannot Escape General Downward Trend

Porsche Automobil Holding SE, Stuttgart, was not able to escape the general downward trend in the global automotive industry in the first six months of the current year of business 2008/09 (1 August 2008 - 31 January 2009) and will therefore show a decrease in revenues according to provisional figures of 14.3 per cent to approximately Euro three billion. Taking the development of sales by mid-January 2009 as a fundamental indicator, sales in the first half of the business year are expected to...

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Record Production Levels for Suzuki Record Production Levels for Suzuki

Suzuki Motor Corporation (SMC) achieved record global car production figures in the 2008 calendar year, with a total production of 2,623,788 units. Plants outside of Japan contributed more than 50 per cent of total production, accounting for 1,405,553 units. That constituted a two per cent increase on 2007 figures. A total of 1,218,235 vehicles rolled off Suzuki’s Japanese plants, closely matching the 2007 figure.

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Ford Reports 4th Quarter Net Loss of $5.9 billion Ford Reports 4th Quarter Net Loss of $5.9 billion

Net loss of $5.9 billion, or $2.46 per share, for the fourth quarter of 2008 amid a sharp global decline in vehicle demand; pre-tax loss of $3.7 billion from continuing operations, excluding special items.

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Union chiefs call for £13bn fund to help motor industry Union chiefs call for £13bn fund to help motor industry

Trade union bosses have called for a £13 billion fund to be made available to provide interim relief for manufacturers, including vehicle producers, and to cover employment costs during the ongoing economic crisis. The Government must also use its stake in the banks to free up credit for consumers to kick start car-buying demand again. Derek Simpson, joint general secretary of Unite, was responding to yesterday’s (Tuesday, January 27) announcement by Business Secretary Lord Mandelson of...

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Three-day week for Aston Martin Three-day week for Aston Martin

Luxury carmaker Aston Martin has put all its production line staff on a three-day week as it struggles to cope with the downturn in the car industry. The company said the new Monday to Wednesday shift pattern was temporary and affected just under 600 staff. The employees’ hours will be ‘banked’ and claimed back by the firm later. The firm announced 600 redundancies in December. Three hundred staff have already left and it is in the final stages of consultation over the remaining 300. It...

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Land Rover Australia records annual sales boost in 2008 Land Rover Australia records annual sales boost in 2008

With a total of 4,320 retails in 2008, Land Rover achieved its third consecutive year of growth in Australia. In fact, Land Rover was one of the few automotive brands to actually better its 2007 retail result, with a 16.5% increase over the previous year. Land Rover's performance can be contributed to the continued success of the Discovery 3, still our best selling model in Australia, even after 5 years in the marketplace. During 2008 the Discovery 3 added to its already impressive list...

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Hyundai’s Global Sales Rise 6.8 percent in 2008 Hyundai’s Global Sales Rise 6.8 percent in 2008

Hyundai Motor Company, South Korea’s largest automaker, saw sales rise 6.8 percent year-over-year to 2,796,370 units (domestic factories: 1,668,745 units, overseas plants 1,127,625 units) spurred by new products and efforts to diversify sales outside of North America and the European Union. Despite a slowing global economy in the second half of 2008, Hyundai saw 2008 sales revenues rise 5.1 percent to 32.19 trillion won helped by a richer product mix and the sharp depreciation of the Korean...

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Fiat Finishes 2008 with its Best Ever Trading Profit Fiat Finishes 2008 with its Best Ever Trading Profit

Despite a difficult fourth quarter, the Fiat Group has completed 2008 with its best ever trading profit, up 4.0 per cent over 2007 to €3.4 billion in 2008 on a total revenue of €59.4 billion, up 1.5 per cent over the previous year. Fiat Group Automobiles, which comprises Fiat cars, Alfa Romeo and Lancia, increased revenue very slightly - +0.5 per cent - on 2007 to produce revenue of €26.9 billion, based on an annual production of 2,152,500 cars to achieve a trading profit of €691 million....

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Chrysler Announces 'Employee Pricing Plus Plus' Program Chrysler Announces 'Employee Pricing Plus Plus' Program

Chrysler LLC announced today that it will offer the new "Employee Pricing Plus Plus" program to all customers toward the purchase or lease of a new 2008 or 2009 Chrysler, Jeep(R) or Dodge vehicle. In addition to the employee price, customers will be eligible for cash discounts of up to $3,500 for 2009 model year vehicles and up to $6,000 on 2008 model year vehicles. Plus, Chrysler Financial is also offering zero percent financing to qualified customers for up to 48 months. Other...

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Cadillac Indefinite Delay Cadillac Indefinite Delay

Unfortunately GM Holden today announced that the introduction of Cadillac into Australia had been delayed indefinitely. GM Holden Chairman and Managing Director Mark Reuss said: "...with the downturn of the Australian automotive market in conjunction with the broader global financial situation, we have made a common-sense, commercially responsible decision to not introduce a new brand into the exceptionally challenging Australian market at this time."

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Porsche Announces Mandatory Offer for Scania Porsche Announces Mandatory Offer for Scania

Porsche Automobil Holding SE, Stuttgart, today announced its mandatory offer in Sweden for Scania AB, Södertälje, Sweden. The acceptance period for the offer to the outstanding Scania shareholders for the acquisition of their shares is thus expected to run from 21 January 2009 until 10 February 2009. However, Porsche has no strategic interest in acquiring Scania shares and is therefore offering only the minimum prices required by law, namely 68.52 kronor per A share and 67.10 kronor per B share...

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Gloomy future for motor industry Gloomy future for motor industry

A gloomy outlook for the future of the motor industry has been predicted by 200 senior executives from the sector in a survey by KPMG. They are expecting more companies to go out of business in the coming years as revenues and profits continue to fall. Most of those polled highlighted the risk of company insolvencies or bankruptcies, with almost nine out of 10 predicting an increased number of business failures. Mike Steventon, automotive partner at KPMG, said: “The current economic...

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Audi Records Sales of Over One Million for the First Time Audi Records Sales of Over One Million for the First Time

AUDI AG has achieved its stated objective of selling one million cars in 2008 for the first time in its history. With about 1,003,400 cars sold worldwide, Audi increased its unit sales volume by 4.1 percent over the prior year (2007: 964,151). With the newly introduced Audi Q5 and the successful, young A4 family, sales in the month of December increased by 17.4 percent over the prior year, to around 82,800 units (2007: 70,523).

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Volkswagen Group Australia Sells 29,875 Vehicles in 2008 Volkswagen Group Australia Sells 29,875 Vehicles in 2008

Volkswagen Group Australia has achieved a new record with 29,875 vehicle sales in a calendar year, its fourth straight year of growth. Volkswagen maintained its position as the 10th highest selling brand in Australia for the year, growing at 9% in 2008, the highest growth of the top 10 brands. Volkswagen also increased its market share from 2.6% to 3.0%. There were some stand out models in the range which performed well with significant increases over the prior year. Touareg +43.7%, Polo...

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Audi Sales Jump 30% Downunder Audi Sales Jump 30% Downunder

German luxury carmaker, Audi, has closed 2008 with a massive sales increase of 30.2 percent in Australia. To close a tough 2008, Audi Australia sold 598 cars in December, bringing the full year cumulative result to 9,410 units, compared with 7,225 for the previous year (2007). The result represents the fourth consecutive year of record growth, and a doubling of market share Downunder since 2004. In the same four year period sales volume has increased by 154 percent, from 3,700 units to...

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Mitsubishi Reports Growth in Imported Sales During 2008 Mitsubishi Reports Growth in Imported Sales During 2008

Mitsubishi Motors Australia Limited (MMAL) has reported strong growth of their imported vehicle line-up during 2008, with a jump in sales of over 2,900 vehicles – an increase of 5.5 per cent over the previous year. This growth is an impressive achievement, particularly given the current economic and market environment, and the decision undertaken by the company to switch to full-line importing early in the 2008 calendar year. President and chief executive officer of MMAL, Robert McEniry...

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2008 New Vehicle Sales Provide a Positive Start to 2009 2008 New Vehicle Sales Provide a Positive Start to 2009

Australian Automobile Dealers Association, Victoria (AADA-Vic) and VACC are encouraged by today’s release of the 2008 new vehicle sales figures. For the second year running, and only the second time ever, Australians bought more than one million new vehicles during a calendar year. Official VFACTS figures released by the Federal Chamber of Automotive Industries (FCAI) show that 1,012,164 passenger cars, SUVs and commercial vehicles were sold in 2008. “This is positive news for the...

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Mazda's Finishes 2008 On a Record High Mazda's Finishes 2008 On a Record High

Mazda Australia retailed 79,826 new vehicles in 2008, eclipsing the previous record of 77,734 set in 2007. Mazda retained its position as Australia's fourth biggest automotive brand and best-selling full-line importer with a 7.9 per cent share of the new vehicle market (up from 7.4pc in 2007). Mazda's 0.5pc market share growth was the one of the highest posted by a top-ten brand. Mazda ended 2008 with a new December benchmark (6,641 retails, 8.7pc share) and tightened its grip on fourth...

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Subaru Sails Past 11th Record Subaru Sails Past 11th Record

Subaru achieved a remarkable annual milestone of 11 consecutive years of record sales, according to official VFACTS figures released today. Sales of 38,492 Subarus have distinguished the Symmetrical All-Wheel Drive company in a difficult market where many competitors are in decline. Subaru sales for 2008 were up 0.1 per cent in an industry that dropped 3.6 per cent. Subaru's core strength was underlined by the success of new generation Forester, which regained its position as the...

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Sixth Straight Sales Record for Suzuki Sixth Straight Sales Record for Suzuki

Suzuki continues to be a shining star in the Australian automotive market after recording its sixth successive increase in annual sales. Suzuki sold 1730 vehicles in December, boosting its total sales for the year to 22,523. The record sales figure was a 4.4 increase on what was a record 2007 result, and continued the company’s remarkable run of six straight years of increased sales. Since 2004 the company has more than tripled retail sales to cement its reputation as one of the...

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Porsche to Take Over More Than 50% of Volkswagen Porsche to Take Over More Than 50% of Volkswagen

Porsche Automobil Holding SE, Stuttgart, purchased further ordinary shares in Volkswagen AG, Wolfsburg, and will increase its holding to 50.76 per cent of all ordinary voting shares in Volkswagen. As a result of passing the threshold of 50 per cent Porsche will acquire indirect control over Scania AB, Södertälje, and is required by Swedish law to launch a mandatory offer for the truck manufacturer. The Stuttgart-domiciled company is not bound by pre-acquisition prices and is only obliged to...

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Hyundai 2008 Sales Results Hyundai 2008 Sales Results

Hyundai Motor Company, South Korea’s largest automaker and part of the world’s fifth largest auto manufacturer, posted a 6.9 percent increase in its 2008 global sales, mainly due to strong demand for its cars in emerging markets. Overseas sales, including exports from Korea and sales from the company’s overseas plants increased 11.8 percent to 2,210,715 units in 2008, up from 1,977,042 units a year earlier. Domestic sales in 2008 fell 8.7 percent to 570,962 units from 625,275 units in...

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Tata to pump £670m into Jaguar Land Rover Tata to pump £670m into Jaguar Land Rover

Tata, the Indian-based company that owns Jaguar Land Rover, may have to pump at least £670 million into the ailing car brands to revive them, and is looking at ways to raise the cash. The sum is far higher than the ‘tens of millions’ Tata had recently suggested might be enough. The cash would also be in addition to any financial aid Jaguar Land Rover may receive from the UK Government, which is now unlikely until the New Year.

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Tata to inject cash into ailing Jaguar Land Rover Tata to inject cash into ailing Jaguar Land Rover

Indian industrial conglomerate Tata is to inject ‘tens of millions’ of pounds into Jaguar Land Rover to prevent an immediate cashflow crisis, while the Government continues to discuss a possible taxpayer bailout. Tata’s cash injection has brought the Government breathing space to respond to Jaguar Land Rover demands for multi-billion loan guarantees. The Times says that Tata’s decision came after Prime Minister Gordon Brown had decided to intervene to prevent the collapse of the carmaker...

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Toyota predicts first loss in 71 years Toyota predicts first loss in 71 years

Japan’s biggest carmaker Toyota has forecast its first annual loss in 71 years due to plummeting sales and a surge in the value of the yen. The firm said it expected a loss of 150 billion yen (£1.1bn) in yearly operating profits - from its core operations. The carmaker recorded an operating profit of 2.27 trillion yen last year. Toyota said it still expected to make a profit on a net level for the year ended March but has cut its forecast sharply to 50bn yen, down from a previous estimate...

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Mercedes-Benz delivers 1.5 million current E-Class units Mercedes-Benz delivers 1.5 million current E-Class units

Mercedes-Benz has delivered 1.5 million units of the current E-Class series to customers since the model’s market launch six years ago. “The current E-Class and its predecessor models have been the ‘heart’ of Mercedes-Benz for more than 60 years now,” says Dr. Klaus Maier, Executive Vice President Sales and Marketing Mercedes-Benz Cars. “With its typical brand attributes that include safety, comfort, innovation, economy, and quality, the E-Class has delighted around 12 million customers...

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Ford's comments on approved bailout plan Ford's comments on approved bailout plan

Ford Motor Company said today that it welcomes action by the Administration to provide emergency funding for General Motors Corp. and Chrysler LLC. “As we told Congress, Ford is in a different position. We do not face a near-term liquidity issue, and we are not seeking short-term financial assistance from the government,” Ford President and CEO Alan Mulally said. “But all of us at Ford appreciate the prudent step the Administration has taken to address the near-term liquidity issues of GM...

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Chrysler approved bailout plan Chrysler approved bailout plan

Chrysler LLC Chairman and CEO Bob Nardelli said on behalf of the men and women of Chrysler and its extended enterprise, that he would like to thank the Administration and Treasury for their confidence in the Company.

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GM approved bailout plan GM approved bailout plan

GM says: We appreciate the President extending a financial bridge at this most critical time for the U.S. auto industry and our nation's economy. This action helps to preserve many jobs, and supports the continued operation of GM and the many suppliers, dealers and small businesses across the country that depend on us.

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2009 Ford Fiesta sales in UK 2009 Ford Fiesta sales in UK

Nearly 11,500 new Ford Fiesta models have been snapped up in the UK in just 77 days since it went on sale on 1st October – and with more than 9,000 going to retail customers. That equates to almost 80 per cent – a substantial increase on the normal retail rate of 60 per cent. The Zetec model remains the most popular, taking 51 per cent of sales. Zetec models have been introduced with a £500 customer saving and free Bluetooth. The most popular color has been Panther Black (21 per cent)...

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There'll always be people crazy enough to buy a Ferrari! There'll always be people crazy enough to buy a Ferrari!

Speaking at the annual Ferrari end of year media conference, Ferrari President Luca di Montezemolo has said that while other car makers saw profits and sales plummet in 2008, Ferrari has ignored the trend and recorded its best ever year for sales, earnings, profits and achievements in motorsport. “Enzo Ferrari said to me in the 1970’s fuel crisis we'd always find 1,500 people crazy enough to buy a Ferrari. Adjusting the numbers for 2009, I think that we'll continue to find 6,000 people crazy...

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BMW M Sales Increase Despite Difficult Market Environment BMW M Sales Increase Despite Difficult Market Environment

BMW M GmbH has increased sales by over 50 per cent compared to last year, despite the current difficulties in the market environment. A significant increase in sales compared to last year has resulted in 22,340 vehicles being sold worldwide as of November 2008. This means that BMW M GmbH has exceeded the previous year’s equivalent figures (14,092 units) by over 50 per cent.

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Jeremy Clarkson says No to Big 3 bailout Jeremy Clarkson says No to Big 3 bailout

The ever outspoken Top Gear host Jeremy Clarkson isn’t one to hold back saying what he feels and in the past has often given a mouthful to American made cars. However in recent times we’ve seen a change of heart as he’s grown fond of some of the meanest muscle cars to come out of the USA, for example the Chevrolet Corvette ZR1 and the Cadillac CTS-V.

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Toyota Australia to Increase Prices from 1st of January Toyota Australia to Increase Prices from 1st of January

Toyota Australia has advised its dealers that new-vehicle recommended retail prices will increase from 1 January 2009 due to adverse currency movements. Price increases will average 2.4 per cent or about $900 across the range with variations by model and by grade. The recommended retail prices of Toyota's smallest car, Yaris, will rise by up to $800 with most models increasing $500.

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Ford looking to sell Volvo Ford looking to sell Volvo

Ford has publicly announced for the first time that it would like to sell Volvo. The news, which has been rumoured for a while now, came out in Ford’s latest strategic review which they need to take to US Congress tomorrow with the aim of receiving much need funding from the $25 billion government aid package.

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Aston Martin Announces Cutbacks Aston Martin Announces Cutbacks

Aston Martin and its Trade Union partners have today begun consultation on a range of cutbacks to reflect the current downturn in the world economy and the corresponding fall in car sales. It is hoped to do this by minimising the impact on employees as far as possible, but the possibility of up to 300 permanent and a similar number of temporary job losses cannot be ruled out.

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Ford Reduces Stake in Mazda Ford Reduces Stake in Mazda

Mazda Motor Corporation (Mazda) has announced today that Mazda and several of its strategic business partners will acquire a part of Ford Motor Company’s (Ford) shares in Mazda through market trading. As a result, the ratio of Ford’s ownership of Mazda stock will be reduced from 33.4 percent to just over 13 percent, with the new agreement allowing the two companies to continue their strategic relationship that spans nearly 30 years. “The sale of Mazda shares by our partner, Ford, will not...

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GETRAG seeks Chapter 11 bankruptcy protection GETRAG seeks Chapter 11 bankruptcy protection

GETRAG Transmission Manufacturing LLC (GTM LLC) has filed for protection under chapter 11 of the United States Bankruptcy Code for its Tipton, Indiana facility. The GTM LLC facility in Tipton was being constructed for the sole purpose of manufacturing dual clutch transmissions for Chrysler LLC (Chrysler). This action is a direct result of a recent termination by Chrysler of contractual agreements related to the construction and operation of a dual clutch transmission manufacturing facility...

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Video: What happens if the Domestic Auto Industry Collapses? Video: What happens if the Domestic Auto Industry Collapses?

From plants to parks. From dealerships to driveways. From gas stations to grocery stores. What happens in the automotive industry affects each and every one of us. In fact, the collapse of the U.S.-based auto industry wouldn't just impact the more than 239,000 Americans directly employed by the Big Three. One out of every 10 people in America is employed in a service that is related to the U.S. auto industry. If a plant closes, so does its suppliers, the local stores, the hot dog vendors, and...

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General Motors Sell Suzuki Shares General Motors Sell Suzuki Shares

Suzuki Motor Corporation made an announcement today concerning the sale of Suzuki shares by General Motors Corporation with a mutual agreement to continue the implementation and expansion of the business relationship between the companies. Suzuki and GM have maintained a constructive business relationship that dates back to August 1981. The companies have agreed to be committed to continue promoting and implementing not only our existing projects, including development collaboration on...

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Suzuki Sales Soar in Australia Despite Financial Difficulties Suzuki Sales Soar in Australia Despite Financial Difficulties

Suzuki Australia sold 2042 vehicles in October 2008 making it the best October on record for the company. “Suzuki has clearly defied the market trend and is running well ahead of the overall industry. “Year on year, Suzuki sales are up nearly seven per cent, while the total market is in decline. “With new models like Alto and Kizashi coming on stream in the next 18 months Suzuki is set to continue to be one of the fastest growing brands in the country,” said Devers. Yearly sales to...

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Volkswagen Increases Operating Profit by 15% in the First 9 Months Volkswagen Increases Operating Profit by 15% in the First 9 Months

The Volkswagen Group increased its deliveries, sales revenue and profit in the first nine months of the current fiscal year despite the adverse macroeconomic environment and the worsening financial crisis. Operating profit improved significantly by 15% to €4.9 billion. At €3.7 billion, Europe's largest automobile manufacturer exceeded its prior-year profit after tax by 28.5%. "Volkswagen has performed well so far in a difficult environment. With its young and environmentally friendly model...

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Piaggio brands lead Aussie Scooter Market Piaggio brands lead Aussie Scooter Market

According to recently released FCAI industry data (September 2008 YTD), scooter sales continue to soar in Australia. The Italian scooter giant, Piaggio, continues to be the number one choice for scooters in Australia with almost 23% share of the market with the three distinctive Piaggio, Vespa and Gilera brands.

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Porsche Increases Its VW Stake to 35.14 per cent - (Global) Porsche Increases Its VW Stake to 35.14 per cent - (Global)

Porsche Automobil Holding SE, Stuttgart, acquired a further 4.89 per cent of the Volkswagen ordinary shares on Tuesday, 16 September. As a result, the total stake in the Wolfsburg-based car manufacturer now amounts to 35.14 per cent of the voting rights. This step ensures that Porsche has a lasting majority at the VW annual general meeting. Dr. Wendelin Wiedeking, Chief Executive Officer of Porsche, said: “Our goal continues to be to increase our stake in Volkswagen to more than 50 per cent....

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Mitsubishi Motors Announces Production, Sales And Export Figures For July 2008 - (Global) Mitsubishi Motors Announces Production, Sales And Export Figures For July 2008 - (Global)

Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export figures for July 2008.

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Ferrari Races Ahead of Porsche - (Australia) Ferrari Races Ahead of Porsche - (Australia)

Ferrari is not only beating Porsche on the race track – Ferrari beat Porsche in the classic Spa 24 race at the weekend (2-3 August 2008) and the F430 dominates the FIA GT2 World Championship – but the Italian legend is also beating the Germans in Australian car showrooms, with Ferrari out selling the Porsche 911 in July, according to figures revealed today (5 August 2008) by VFACTS.

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