AUTO

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Toyota surprises with quarterly profit

Toyota Motor Corp reported a surprise quarterly profit and slashed its annual loss forecast by more than half as sales and cost cutting beat its forecasts, putting it on track to follow Japanese rivals into the black next year.

Selling Opel would have left strategic gap-GM exec

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General Motors Co directors narrowly opted to retain Opel instead of selling the European unit to a group led by Canada's Magna International because they believed losing it could have left a significant gap in its operations, a senior GM executive said.

Chrysler not burning cash, sees savings -Fiat CEO

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Chrysler is making an operating profit and building cash, the No. 3 U.S. automaker's boss told reporters and industry executives on Wednesday as he unveiled a five-year plan to turn the company around.
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Ferrari sees China as top 5 mkt

Fiat's Ferrari luxury car unit expects China to become one of its top five global markets in five years, by marketing to the growing ranks of affluent Chinese, a senior company official said on Tuesday.
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Ford surprises with quarterly profit

Ford Motor Co surprised Wall Street with a quarterly profit on Monday and raised its 2011 outlook to solidly profitable, sending its shares up 5.7 percent in premarket trading.
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Automakers gird for new normal

As automakers, parts suppliers and car retailers ready business plans for next year and beyond, the experience of the industry's 2009 crash has made caution the new byword.
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GM exec sees China car market growing 10 pct next year

General Motors Co expects China's car market to grow by around 10 percent next year even without government incentives and maintain its position as the world's top car market for a long time, a senior executive said.
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AutoNation posts profit on cost-cutting, Clunkers

AutoNation Inc, the largest U.S. auto retailer, posted a quarterly profit thanks to cost-cutting and the government's Cash for Clunkers incentive program and said it would target dealership acquisitions as the market recovers.
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Former GM plant to make Fisker hybrid cars

The bankrupt shell of carmaker General Motors Co is making its first major asset sale, selling a Delaware manufacturing plant to Fisker Automotive, which will make plug-in hybrid electric cars beginning in 2012.
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GM's CEO has very good outlook on Brazil: report

General Motors said Brazil's car market has a very good outlook and the automaker will reinvest profits from the country's unit locally, Chief Executive Fritz Henderson told newspaper O Estado de S. Paulo in an interview on Monday.
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India's Tata Motors Q2 net more-than-doubles

Tata Motors Ltd, India's largest vehicle maker, beat forecasts as profits more-than- doubled on improved margins due to lower input prices and a recovery in demand as the financial crisis loosened its grip.
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Liquidation nears at German carmaker Karmann

Independent German contract carmaker and convertible roof-top specialist Karmann is nearing liquidation as new orders remain out of sight and customers remain unwilling to pay their bills.
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GM board to reconsider Opel in early November

General Motors will decide in early November whether to proceed with a deal to sell its European arm Opel to a group led by Canada's Magna or to seize a new opportunity to keep the unit after seven months of grinding negotiations.
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JD Power sees US auto sales down 6 pct in October

October U.S. auto sales should be down about 6 percent from a year ago, marking the first single-digit monthly decline since May 2008, influential industry forecasting firm J.D. Power and Associates predicted on Friday.
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Higher sales, margins to boost India auto earnings

Higher passenger car sales in the quarter ended September is likely to boost Maruti Suzuki India (MRTI.BO) earnings, while India's Tata Motors (TAMO.BO) will benefit from a recovery in truck sales, say analysts.
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2010 auto sales seen up at least 15 percent

U.S. auto sales are projected to rise nearly one-fifth to 11.8 million units in 2010, influential industry tracking firm CSM Worldwide said on Wednesday, citing signs that the worst of the economic downturn had passed.
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GM says Opel deal could close this week

General Motors Co GM.UL remains committed to closing a deal to sell its European Opel unit to a group led by Magna International (MGa.TO), the automaker's chief executive told CNBC on Wednesday.
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Peugeot sees 2010 output in Slovakia above 200,000

French carmaker PSA Peugeot Citroen (PEUP.PA) expects output at its Slovak assembly plant to be slightly above 200,000 units this year, with similar volume in 2010, the outgoing chief executive of PSA's Slovak operations, Jean Mouro, said on Monday.
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Toyota to add Tundra production in February

Toyota Motor Corp (7203.T) said on Friday it plans to resume a second shift at its San Antonio, Texas plant in February for the first time since August 2008, adding production of Tundra full-size pickup trucks.

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