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SAIC: No “Short Term” Plans to Sell Cars in U.S.
11/8/2012China's SAIC Motor Corp. opened an office in Birmingham, Mich., this summer but says it doesn't intend to produce or sell its cars in North America in the next several years.
Suzuki Gets Loan to Fund Dealership Closings
11/8/2012A federal bankruptcy judge has granted interim approval for Japan's Suzuki Motor Corp. to loan its American unit $45 million at below-market interest rates to financing the closings of its 216 U.S. dealerships.
Ford Readies 350-hp Focus RS
11/8/2012Ford Motor Co.'s third-generation Focus RS due in Europe in early 2014 will be powered by the same 2.3-liter four-cylinder EcoBoost engine being developed in the U.S. for the Mustang sport coupe, according to AutoExpress.
New Engine to Power Next-Generation Focus RS
11/7/2012Ford Motor Co.'s third-generation Focus RS due in Europe in early 2014 will be powered by the same 2.3-liter four-cylinder EcoBoost engine being developed in the U.S. for the Mustang sport coupe, according to AutoExpress.
MPG Compensation Could Cost Hyundai-Kia $100 Million
11/7/2012Hyundai Motor Co. and affiliate Kia Motors Corp. are likely to spend about $100 million in the U.S. to compensate the owners of 900,000 of their vehicles whose fuel economy was overstated, according to Moody's Investors Service.
Ford, GM Rescue Bankrupt Aussie Supplier
11/7/2012Faltering Australian supplier Autodom Ltd. is restarting its factories after its biggest customers, Ford and General Motors, agreed to guarantee its $6.5 million in debt.
Car Sales Surge 23% in Brazil
11/7/2012Automakers sold 250,600 passenger cars in Brazil last month compared with 203,400 units in October 2011, according to automaker group ANFAVEA.
Hurricane Destroyed Thousands of New Cars
11/7/2012As many as 200,000 vehicles damaged by Hurricane Sandy including 15,000 new cars and trucks on dealer lots and thousands more awaiting distribution may have to be scrapped, according to the National Auto Dealers Assn.
Hurricane Destroyed $30 Million Worth of Fisker Hybrids
11/7/2012Fisker Automotive Inc. says last week's Hurricane Sandy ruined about 340 of its $103,000 Karma plug-in hybrid luxury cars.
Ford Could Cut More Jobs in Europe If Slump Deepens
11/7/2012CEO Alan Mulally said Ford Motor Co. which plans to close three factories in Europe by 2014 cannot rule out further capacity reduction there if the region's economy continues to deteriorate.