Archive for July, 2009
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Penske aims to complete Saturn deal by September
Penske Automotive Group plans to complete a deal to buy Saturn from General Motors Co. by the end of September, the chairman of the No. 2 auto dealership chain said ...
Mazda, Mitsubishi post 3rd straight quarterly loss
Mazda Motor Corp. and Mitsubishi Motors Corp. each posted losses for a third straight quarter as car sales plunged worldwide, but the carmakers kept their annual forecasts relying on cost ...
Volkswagen’s second-quarter profit plummets 83%
German automaker Volkswagen AG said Thursday that its second-quarter net profit plummeted 83 percent on lower sales of its cars—from Audis to Skodas—as consumers around the world put off big ...
‘09 Concours to celebrate ‘Best of Detroit’
Marking 30 years of showcasing the world’s finest vintage motor cars each August on the grounds of the historic Meadow Brook Hall in Rochester, Mich., the Meadow Brook Concours d’Elegance ...
Guzzler reimbursements begin to flow
The U.S. government, facing dealer concerns about bottlenecks in the new cash-for-guzzlers reimbursement system, approved about 1 percent of the program’s funds as of this morning for distribution to dealers, ...
Daimler posts $1.51 billion loss
Germany’s Daimler AG said Wednesday that it lost 1.06 billion euro ($1.51 billion) in the second quarter as the recession hurt car and truck sales, and the company took charges related ...
GM will resume leasing in August
General Motors Co., the reorganized automaker majority-owned by the U.S. government, said it expects to return to leasing in August, the Detroit Free Press reported.
GM stopped the practice in August ...
Toyota edges GM in global sales tally
Toyota Motor Corp.’s global sales fell 26 percent in the first half of this year, but the Japanese automaker outsold General Motors Co. by 10,000 vehicles, the Detroit Free Press ...
Honda’s $79.8 million profit raises forecasts
Honda Motor Co. bucked expectations of losses in the first quarter, Wednesday posting a $79.8 million profit and raising forecasts for the full year on optimism auto sales will improve, ...
Magna sweetens bid for GM’s Opel unit
Magna International Inc. and its Russian-based partner OAO Sberbank improved their offer for General Motors Co.’s Opel division to $497 million in cash and $213 million in debt, the Detroit ...
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