AUTO

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Tata Motors raises $750 million to pay down Jaguar debt

Tata Motors Ltd (TAMO.BO), India's largest commercial vehicle maker, said it raised $750 million by issuing global depositary receipts and convertible bonds to pay down debt taken on for its acquisition of the loss-making Jaguar and Land Rover brands last year.

Tengzhong may finalise Hummer deal Friday

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China's Tengzhong may finalise a deal with General Motors Co [GM.UL] on Friday to acquire the U.S. automaker's Hummer business for about $150 million, a source familiar with the deal said.

Berlin confident EU partners will aid Opel

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A German-brokered deal to rescue Opel will not collapse due to a lack of support from other European countries hosting the carmaker's plants, Chancellor Angela Merkel's spokesman was quoted as saying on Thursday.
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Volvo Cars denies report CEO to leave by year-end

Ford Motor Co's Volvo Cars denied a Swedish newspaper report on Thursday claiming that the unit's chief executive would leave the company by the end of the year, dismissing the article as pure speculation.
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BMW says 2009 vehicle sales may only fall 10-15 pct

BMW (BMWG.DE) posted its first year-on-year volume gain this year in September and forecast this would become a trend during the rest of 2009 thanks to new model launches and barring any unforeseeable shocks.
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U.S. panel to hear hybrid patent case vs Toyota

A U.S. trade panel that hears patent disputes said it would investigate allegations that Toyota Motor Corp, the world's largest automaker, infringed patented technology to make its popular hybrid vehicles.
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U.S. probes Toyota pickups on alleged frame corrosion

U.S. traffic safety authorities have launched an investigation into Toyota Motor Corp's (7203.T) 2000 and 2001 model year Tundra pickups following complaints alleging that severe frame corrosion caused brake system failures or spare tire separation.
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GM says on target with change, but risks remain

General Motors Co is on track to hit the financial restructuring targets set in its U.S. government-sponsored bankruptcy, but still faces risks as it tries to win back consumers in an uncertain U.S. economy, the automaker said on Wednesday.
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Vietnam Sept auto sales surge 104% yr/yr

Auto sales in Vietnam surged 104 percent in September from a year earlier to 11,071 units after a 31 percent increase in August, an industry report said on Wednesday.
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Renault, Mahindra venture faces hurdles

French car maker Renault (RENA.PA) is looking to replace its Indian partner Mahindra & Mahindra (MAHM.BO) in their struggling Logan joint venture, the Economic Times said on Wednesday, a report refuted by the French firm.
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Delphi exits bankruptcy after four years

U.S. auto parts maker Delphi ended four years in bankruptcy on Tuesday, emerging from Chapter 11 as a private company and removing a major uncertainty for former parent General Motors Co [GM.UL].
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BMW would add to Mini output in Germany

German Carmaker BMW (BMWG.DE) is considering building the next generation of its Mini brand at a domestic plant rather than adding to production at its factory in Cowley, Oxford, according to a report on Sunday.
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China a bright spot for German luxury carmakers

The booming Chinese auto market continues to be one of the few bright spots for German luxury carmakers, which have drawn few benefits from a flurry of subsidy programmes like the U.S. cash for clunkers scheme.
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Czech 9-mths car sales slide 14 pct

Czech car sales fell almost 14 percent year-on-year in the first nine months of the year, from a 12 percent fall in the first half, the country's Car Importers Association said on Tuesday.
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Mazda to raise $1.1 bln, narrows loss forecast

Japan's Mazda Motor Corp (7261.T) said it would raise up to $1.1 billion in a share sale and invest most of the funds to develop hybrid and other technologies in what analysts said was a long-overdue bid to close the gap with rivals.
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UK prepared to discuss support for Vauxhall-minister

British Business Secretary Peter Mandelson said on Monday he was prepared to discuss support for Vauxhall with parent Opel's new owners, Magna (MGa.TO), noting that representatives from the Canadian auto parts supplier were due in Britain this week.
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U.S.-led consortium wants to buy Volvo from Ford: report

A U.S.-led group has entered the race to buy Ford Motor Co's (F.N) Volvo cars unit, the Financial Times reported, in a challenge to China's Geely Automotive (0175.HK) which last month confirmed its interest in the loss-making Swedish carmaker.
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Ford Canada labor talks aim to cut $16/hr gap

Labor costs at Ford Motor Co (F.N) are about $16 an hour higher in Canada than in the United States, the Canadian Auto Workers confirmed on Friday, but union said it needs guarantees on production levels before it agrees to concessions to level the field.
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Old GM CEO sees liquidation plan next year

The chief executive of Motors Liquidation Co (MTLQQ.PK), the old shell of General Motors that remains in bankruptcy court, is hoping that the company will get court approval for a plan of liquidation by the middle of next year, he said on Thursday.
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German new car market swells 21 percent in Sept

Germany's new car market grew by 21 percent in September and orders fell a less-than-feared 12 percent even as a scrappage scheme for old autos ran out of money, the VDA vehicle manufacturers association said on Friday.
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Obama auto plan stopped global auto collapse: exec

The global auto industry would have collapsed if the U.S. government had not provided taxpayer-backed financing for automakers General Motors and Chrysler, according to the chief executive officer of Motors Liquidation Co (MTLQQ.PK).
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Mercedes-Benz Trucks, Kamaz set joint venture

Daimler AG (DAIGn.DE) moved on Thursday to boost its presence in the Russian market by signing a letter of intent to create a truck and bus joint venture with local partner Kamaz (KMAZ.MM).
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Chrysler CEO: no reprieve on U.S. plant closings

Chrysler Group LLC still plans to shutter eight North American plants according to its initial schedule, Chief Executive Sergio Marchionne said on Thursday, as he dismissed recent reports that a Detroit-area plant would get a reprieve.
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France to invest 2.5 bln eur for electric car launch

France will invest 2.5 billion euros ($3.6 billion) over 10 years in research, subsidies and infrastructure development for electric cars as automakers race to get the vehicles on the road, its energy minister said.
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Japan new vehicle sales fell 3 pct in Sept

Sales in Japan of new cars, trucks and buses fell about 3 percent in September from the year before, a source said on Wednesday, underscoring the fragile state of the stimulus-driven recovery in Japanese vehicle demand.

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