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Today’s Top Auto News and Analysis
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GM CEO "confident" of winning UAW concessions
Reuters -
16 hours 6 minutes ago
DETROIT (Reuters) - General Motors Corp Chief Executive Rick Wagoner said on Thursday he was confident the automaker will win the concessions it needs from the United Auto Workers union to meet the restructuring terms dictated by the $13.4 billion federal bailout.
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Michigan plant to power hybrids
Detroit Free Press - 21 hours 51 minutes ago
In a welcome sign for Michigan's beleaguered auto industry that also promises alternative-energy jobs for the state, a Massachusetts research firm leading work on new batteries for electric vehicles on Wednesday announced plans to build a factory in southeast Michigan...
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Bush won't impose tougher fuel rules
The Bush administration declined Wednesday to put into place tough new fuel economy rules for cars and trucks, letting the incoming Obama administration decide how to balance cutting Americans' demand for oil with billions of dollars in new costs for struggling Detroit automakers...
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GM, Chrysler expand credit union loan deals
NEW YORK ? General Motors and Chrysler say they're both expanding deals that offer low-cost loans and special pricing incentives to credit union members to all 50 states...
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Toyota sets Japan work stoppage
Toyota is suspending production at all 12 of its Japanese plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand...
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Porsche Takeover of VW Done But For The Law
BusinessWeek -
2 days ago
Porsche AG took step closer to controlling the much larger Volkswagen AG by upping its share holdings to 50.8% in late Monday trading.But actual formal control of management still eludes the company. Porsche plans to raise its stake in VW to more than 75% this year, with which it expects...
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Volkswagen Shares Gain as Porsche Gets Majority
Reuters -
2 days ago
By Christiaan HetznerFRANKFURT (Reuters) - Shares in Volkswagen VOWG traded higher on Tuesday, pacing European auto stocks, following news late on Monday that Porsche SE (PSHG_p) raised its voting stake in the world's third-largest carmaker to a majority.The much anticipated move triggers a mandatory takeover bid for Swedish truck maker...
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Toyota orders 11-day output halt as sales slump
Reuters -
2 days ago
TOKYO (Reuters) - Toyota Motor Corp is to halt production at its Japanese plants for 11 days in February and March as a sharp slide in U.S. sales has left dealers' lots full of unsold cars.
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Chrysler's financing arm seeks to tap US relief funding
Financial Times - 3 days ago
Chrysler's financing unit is in talks with the US government to change its status in a way that will allow it to tap into the troubled assets relief programme and...
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Car sales shift to a slower gear
Motor vehicle sales plumbed fresh lows around the world last month, adding to pressure on carmakers, their suppliers and dealers, writes Bernard Simon in...
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BNET Automotive provides daily industry news coverage and insights for managers and executives, focusing on the major automotive and part manufacturers. In addition to detailed company profiles, we bring you critical analysis on new alliances and partnerships, new products, mergers and acquisitions, labor and cost management, investments and deal flow, and a host of other important business issues.
