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  • Newswire

    Greenlight Capital Acquires New Stake in GM  

    The hedge fund shed its stake in GM during last year's recall of cars with defective ignition switches but is reclaiming it in anticipation of the automaker's $5 billion share buyback....More
  • Newswire

    E-Commerce Giant Alibaba, Shanghai GM to Market Cars Online  

    Shanghai GM becomes the latest automaker to partner with Alibaba to offer online sales and financing for GM products and collaborate on marketing and aftermarket services....More
  • Newswire

    Magna Selling Bulk of Interiors Business to Spanish Firm  

    Spain's Grupo Antolin is spending $525 million to purchase 36 manufacturing plants with 12,000 employees in Europe, North America and Asia from the Canadian parts maker....More
  • Newswire

    Marchionne:FCA Likely to Retain 90% of Ferrari in IPO  

    The likely 10% limit on FCA's sale of Ferrari shares marks a switch from a month ago, when CEO Sergio Marchionne said the automaker might sell more than 10% to improve the shares' liquidity....More
  • Newswire

    Ford to gain control of Russia JV and provide finance  

    MOSCOW, April 10 (Reuters) - U.S. auto maker Ford Motor Co will take control of its Russian venture with Sollers and provide it with additional financial support, the Russian firm said on Friday. Ford is taking control in exchange for preferred shares in the Ford-Sollers venture, while its economic interest in the venture remains unchanged at 50 percent, Sollers said. The companies agreed the changes to the venture's shareholder structure on March 31, Sollers said, without providing any financial details of the transaction....More
  • Newswire

    France Ups Renault Stake in Challenge to Ghosn  

    The government says it temporarily is raising its stake in the automaker from 15% to 19.7% to secure double voting rights for itself and other long-term investors ahead of an April 30 shareholders meeting....More
  • Newswire

    Hyundai Motor Chair's 2014 Compensation $5.2 Million  

    Chung Mong-koo's 2% raise reflects the automaker's lackluster 2014 earnings stemming from a weak yen and ruble....More
  • Newswire

    PSA's CEO Says Merger Off Table Pending Turnaround  

    Carlos Tavares, CEO of the French automaker, says "it's a little bit early" to consider a merger while its recovery continues....More
  • Newswire

    Rupiah Down, Japan's Interest in Indonesia Production Up  

    With the weakening rupiah depressing imports, Japanese automakers instead are investing in local production in what has become Southeast Asia's biggest car market....More
  • Newswire

    PSA Says Economic Recovery Brings Profit Goal Closer  

    The French automaker's chief financial officer says a weak euro and falling raw-materials costs could help the company reach its 2018 goal of a 2% profitability margin ahead of schedule....More
  • Newswire

    Russia Approves Subsidies for Automakers  

    The government is providing RR10 billion to support automakers suffering from a prolonged sales slump and higher production costs stemming from the weakening ruble....More
  • Newswire

    Toyota Latest Japanese Company to Raise Worker Pay  

    The automaker's monthly base-pay raise of ¥4,000 per worker is short of union demands for ¥6,000, but it exceeds last year's ¥2,700 boost and is its largest in more than a decade....More
  • Newswire

    Volkswagen's Skoda Unit Posts Record Profits in 2014  

    The Czech Republic's largest manufacturer says last year's €665 million profit was 46% above the prior year and was driven by its first-ever full year of exceeding 1 million sales....More
  • Newswire

    Supplier Valeo's CEO Says Acquisitions on Table  

    Jacques Aschenbroich says Valeo is growing its capabilities in areas such as hybrid technology and connected cars, and wants to pursue an "active role in potential consolidation" with other suppliers....More
  • Newswire

    UPDATE 2-BMW car margins fall to lowest in almost five years  

    * Automotive margin at 9.6 percent for 2014 * Carmaker says targets new sales record in 2015 * Auto margin of 8.2 pct in fourth quarter - analysts * Proposed dividend of 2.90 euros disappoints * Shares fall (Recasts, adds analyst comment) By Edward Taylor...More
  • Newswire

    UPDATE 2-Volkswagen makes slow progress in cutting costs  

    * VW has identified half of planned 5 bln eur cost cuts * VW 2014 brand operating profit down 14 pct * VW shares down 0.6 percent (Adds CFO, trucks chief comments, detail, updates shares) By Andreas Cremer BERLIN, March 12 (Reuters) - Volkswagen is making slow progress in cutting costs at its core passenger car brand, where profit continued to fall last year due to weaker emerging markets and technology costs....More
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