Archive | Auto Industry News

Four Companies to Cease and Desist Selling Motor Vehicle Service Agreement Products in Florida

TALLAHASSEE, Fla. - Florida's Office of Insurance Regulation has issued an order to National Automotive Services Inc., Warranty Financial Inc. (aka Warrany Financial O.R.G. Inc.), Warranty USA, and Warranty Services to cease and desist transacting the unauthorized marketing and selling of motor vehicle service agreement ... Read More » Tags: , ,

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Spyker Extends Deadline Indefinitely for GM to Consider Saab Sale Proposal

Dutch carmaker Spyker is giving General Motors Co. more time to consider its latest offer for car brand Saab, reported The Associated Press. Spyker Cars had previously given GM until 5 p.m. EST Monday to consider its latest proposal, but Spyker says that deadline has ... Read More » Tags: ,

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Auto Sales in Rural Markets Boost China to No. 1

As growing numbers of Chinese shop for their first vehicles, or trade up for newer models, sales in China's immense hinterland are booming, encouraged by tax cuts, government subsidies and growing consumer spending power, reported The Associated Press. In regions striving to catch up with ... Read More » Tags: ,

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Ford Motor Co. Offers Early Retirement, Buyouts to All of its U.S. Factory Workforce

Ford Motor Co. has offered buyout or retirement incentive packages to all of its 41,000 U.S. hourly workers as it tries to further reduce its factory work force, reported The Associated Press. Ford, the healthiest of Detroit's three automakers and the only one to avoid ... Read More » Tags:

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Hyundai Motor Announces China Truck Venture

Hyundai Motor Co. has agreed to launch a $400 million truck manufacturing venture in China with a local partner as it seeks further inroads in the world's biggest auto market, reported The Associated Press. Hyundai Motor, South Korea's largest automaker, said it signed an initial ... Read More » Tags:

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Ford CEO: Ford Plans to Speed Up Repayment of Debt Worth $27B

DETROIT - Ford Motor Co. CEO Alan Mulally says the automaker plans to speed up debt repayment as its financial condition continues to improve, reported The Associated Press. Mulally also told reporters at a briefing Friday on its new vehicles that Ford will keep its ... Read More » Tags:

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