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July Sales Jump for Top US Car Maker

Posted August 2nd, 2011 at 11:50 am (UTC-5)
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Sales at the largest U.S. automaker increased nearly 8 percent in July, driven higher by demand for fuel efficient vehicles. General Motors said Tuesday it saw strong demand for its Chevrolet brand, especially the Chevrolet Cruze. The company said it also saw strong demand for its pick-up trucks and crossover vehicles . GM Vice President […]

Tags: , Posted in Economy

Chinese Automaker to Build Plant in Brazil

Posted August 1st, 2011 at 8:30 pm (UTC-5)
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Chinese automaker Jianghuai Automobile Company plans to build a factory in Brazil. JAC announced Monday that the factory, with an annual capacity of 100,000 cars, will begin operations by 2014. The plant will be built by JAC together with Brazil’s SHC Group, which represents the JAC brand in Brazil.

Tags: , , Posted in East Asia Pacific

US Government Closer to Exiting Auto Industry

Posted July 21st, 2011 at 3:45 pm (UTC-5)
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The U.S. government is another step closer to getting out of the automobile industry, selling its remaining stake in Chrysler to the Italian automaker Fiat. The Treasury Department says Fiat paid $560 million Thursday for the government’s remaining 6 percent stake in Chrysler. The U.S. lent Chrysler $12.5 billion as part of its $80 billion […]

Tags: , Posted in Economy

US Auto Sales Rise

Posted July 1st, 2011 at 2:55 pm (UTC-5)
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Auto sales rose in the United States in June, particularly some new, more fuel-efficient models. On Friday, Chrysler reported that it sold 30 percent more vehicles than during the same period one year ago, while Ford’s sales were up 14 percent and GM’s rose 10 percent. Earlier this year, auto sales were hurt when Japan’s […]

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US to Sell Remaining Shares in Chrysler

Posted June 3rd, 2011 at 2:45 am (UTC-5)
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Italian automaker Fiat has reached an agreement to buy the U.S. government’s remaining stake in Chrysler for an estimated $560 million. The U.S. Treasury Department said Thursday Fiat will pay $500 million to buy the Treasury’s six percent interest in Chrysler. The department is also getting $60 million of the $75 million Fiat is paying […]

Tags: , , Posted in Americas, Economy, US

Auto Sales Shift into Reverse

Posted June 1st, 2011 at 3:35 pm (UTC-5)
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Some of the world’s biggest automakers are blaming the Japanese tsunami, higher gasoline prices and jittery consumers for sending new vehicle sales into reverse. Japanese automaker Toyota took the biggest hit, reporting a 28 percent drop in May sales compared to the same time last year. The world’s largest car company experience severe production delays […]

Tags: , Posted in Economy
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