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  • Newswire

    Renault-Nissan Taking Control of Russia's AvtoVAZ  

    The alliance between the French and Japanese automakers now holds a 67.1% stake in the holding company that controls Russia's largest automaker....More
  • Newswire

    CORRECTED-Peugeot expects 2,500 early retirements in 2014-15  

    (Corrects 2013 payroll to 15.1 pct of revenue in paragraph 2) PARIS, June 26 (Reuters) - PSA Peugeot Citroen said on Thursday that up to 2,500 older French workers will leave the carmaker's payroll in 2014-15 as it cuts headcount under a deal struck with unions last year. Paris-based Peugeot, which employs some 70,000 people in France, has pledged to cut payroll costs to 12.5 percent of group revenue by 2016 from 15.1 percent last year, under the "Back in the Race" recovery plan unveiled in February....More
  • Newswire

    Nissan CEO Ghosn's Fiscal 2013-2014 Pay $9.8 Million  

    Ghosn's $9.8 million salary, which excludes stock options, is 0.7% higher than the previous fiscal year's and is in addition to the $3.6 million he received in 2013 as CEO of French automaker Renault....More
  • Newswire

    UPDATE 2-Renault seeks financial partner to resume business in Iran  

    * In talks with U.S., French governments over Iran * Has been approached by Turkish, international banks (Adds Renault executive comment on Latin America) By Evren Ballim ISTANBUL, June 19 (Reuters) - French automaker Renault is looking for a financial partner to resume full operations in Iran and is in talks with the U.S. and French governments on the issue, one of its senior executives said....More
  • Newswire

    UPDATE 2-BMW says plans multi-million euro annual cost cuts  

    * BMW says to embark on new round of cost cuts * BMW says to save hundreds of millions of euros * BMW seeks 3-4 bln euros in annual savings -magazine * CEO has asked McKinsey to review costs -magazine (Recasts, adds BMW statement clarifying cost cuts amount to hundreds of millions) By Edward Taylor...More
  • Newswire

    Auto Industry Making Largest Share of New Thailand Investment  

    Meeting for the first time since last month's military coup, Thailand's investment agency approved applications for projects worth about TB120 billion, including TB51.5 billion by Toyota for pickup-truck and parts production....More
  • Newswire

    RPT-INSIGHT-Automakers in U.S. Driving Banks From Buoyant New-Car Market  

    Financing arms of car companies, including Toyota, Honda and Ford, made half of all new U.S. car loans in the first quarter....More
  • Newswire

    Fiat Chrysler Ceo Says Group to Achieve 2014 Targets  

    Brazil remains a "difficult" spot for the automaker, however, Sergio Marchionne says....More
  • Newswire

    Opel Sees Parent GM as Key to Return to Profitability  

    Chief Executive Karl-Thomas Neumann says Opel and sister brand Vauxhall will focus on smaller cars sharing more components with other GM products in their drive to become Europe's No.2 passenger-car maker by 2022....More
  • Newswire

    India's Tata Motors Issues Bearish Fiscal 2014 Forecast  

    The Indian automaker cites a weakening economy, flagging consumer sentiment, increased competition and high interest rates in predicting "inadequate" profit at best for the fiscal year ended March 31....More
  • Newswire

    UPDATE 2-Agnelli family holding company Exor seeking big new investments - CEO  

    * Plans to spend at least 1 bln euros each on 2 investments * Says likely to be in services sector, but in no rush * Seeking global firms, has 2.8 bln euros in cash * Says FCA five-year investment plan "not unrealistic" (Adds value of potential investment, closing shares) By Agnieszka Flak...More
  • Newswire

    Panasonic Evaluating Tesla Battery-Manufacturing Plans  

    The Japanese electronics manufacturer, the primary supplier of lithium-ion batteries to the U.S. electric-vehicle maker, says the size of its investment in Tesla's planned battery factory will depend on division of responsibilities and the size of its ownership stake....More
  • Newswire

    Saab's Chinese Owner Halts EV Production  

    National Electric Vehicle Sweden, the Chinese company developing an electric version of the Saab after buying the bankrupt Swedish automaker, blames the shutdown on a lack of cash to pay outstanding debt....More
  • Newswire

    Fiat Investing $773 Million in Polish Facilities  

    The auto maker will upgrade production lines and invest in new technology by the end of 2017 as it prepares to launch production of a new model built primarily for export....More
  • Newswire

    Peugeot Family Keeping Long-term PSA Stake  

    Robert Peugeot, head of the FFP family holding company, says the family has no intention of shedding its interest in the automaker, which recently was reduced to 14.1%....More
  • Newswire

    Hyundai America to Appeal $248 Million Damage Award  

    A Montana jury awarded $8 million to the families of two boys killed in a 2011 crash involving an allegedly defective Hyundai car, plus $240 million in punitive damages, but the automaker denies, responsibility, contending exploding fireworks in the car caused the driver to lose control....More
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