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Auto News - Industry |
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Automotive News Breaking NewsAutomaker News Feed
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News as it happens from autonews.com
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Michigan Chrysler dealership under investigation for fraud
The investigation involves an undetermined number of employees at the dealership suspected of defrauding Chrysler, according to the company and a sheriff's department statement reported by local media.
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Avis tops Hertz with $1.33 billion bid for Dollar
Dollar Thrifty has become the target of a takeover battle as bigger rivals expand into the highly lucrative leisure car rental market - which has remained healthy despite the recession because of stable demand from budget-minded consumers.
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Ford expected to close on Volvo sale to Geely next week
Ford is selling Volvo to Geely for $1.8 billion, less than one-third of what it paid for the Swedish automaker in 1999.
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Feds expand Windstar probe to front corrosion
The new investigation by NHTSA is focusing on front subframe corrosion on the right side that has led to 87 complaints and three crashes. The agency had initially studied rear axles on Windstars from the 1999-2003 model years.
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Ford gives suppliers 'a single point of contact' in reshuffle
Ford purchasing chief Tony Brown is using two key promotions to revamp purchasing and provide 'a single point of contact' for suppliers.
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NADA: Dealer profits soared through May
The average dealer's net profit before taxes nearly doubled in the first five months of the year over last year, to $278,814, NADA said - citing healthy sales increases in new- and used-vehicle departments, higher new- and used-vehicle profit...
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Hyundai Equus will have 2 trim levels in U.S.
The Korean automaker plans to market the Equus as a 'value alternative' to the Lexus LS, BMW 7 series, Mercedes-Benz S class and Audi A8 sedans. Many of those sedans are priced above $60,000.
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BMW recalls new 5-Series sedan for bad fuel-level sensors
The sedan's fuel sensor can become wedged against the tank, according to the National Highway Traffic and Safety Administration.
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Visteon suppliers urged to vote down plan to exit bankruptcy
Visteon's reorganization proposal has divided creditors owed at least $2.8 billion. Bondholders, who are sponsoring the plan, would own 95 percent of Visteon, with current shareholders getting the rest.
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Porsche's $650,000 Spyder supercar is a go
Porsche AG's supervisory board approved production of the 918 Spyder hybrid sports car, a model that soars to 100 kilometers an hour in 3.2 seconds and may top the Carrera GT as the automaker's costliest vehicle.
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