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    Europe: Ford lifts Q1 2010 output target

    Ford expects to produce 460,300 cars in Europe in the first three months of 2010, up 4.6% from its original target for the quarter. This increase in the output target reflects higher-than-expected sales of the Fiesta and Ka models. In an interview with Bloomberg, John Fleming, executive vice president and…

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  • US: PA governor calls for state sales tax rate cut

    Pennsylvania governor Edward G Rendell believes that cutting the state’s sales tax rate will boost vehicle sales and aid in closing future state budget gaps. He was talking to the members of the Automobile Dealers Association of Greater Philadelphia. “My proposal lowers our sales tax rate by a third, increases…

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    US: Accuride emerges from Chapter 11 bankruptcy

    Commercial vehicles components supplier Accuride has emerged from Chapter 11 bankruptcy, having completed the conditions of its plan of reorganisation. It has been five months since the supplier filed for bankruptcy protection. “Entering Chapter 11 with a pre-arranged agreement and the continued support of our lenders, allowed Accuride to emerge…

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  • France: Valeo plans sale of headlamp leveler business

    Valeo has announced its intention to sell its lighting modules business, consisting primarily of headlamp levelers, to a group of investors backed by European investment fund Syntegra Capital and regional development capital fund Picardie Investissements. This operation comprises an R&D activity currently based in Bobigny, France, one manufacturing site in…

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    India: Tata Motors reports Q3 net profit of Rs6.5bn

    Tata Motors has released details of its consolidated financial performance in the quarter and nine months ended 31 December 2009, showing further gains in profitability, driven by a pronounced revival in the Indian operations and supported by positive earnings in the Jaguar Land Rover business. The company previously reported non-consolidated results

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  • US: Delphi CFO to step down

    Delphi’s chief financial officer John Sheehan plans to leave the company on 31 March to accept a position at pharmaceutical company Mylan Inc. The company has begun looking for a replacement. In the meantime, Delphi’s treasurer Keith Stipp will serve as interim chief financial officer. “John has been an outstanding…

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  • US: Truck tonnage rises 3.1% in January

    The American Trucking Associations’ advance seasonally adjusted For-Hire Truck Tonnage Index rose 3.1% in January, following a revised 1.3% increase in December 2009 (originally reported as 2.1%). The latest increase lifted the index from 107 (2000=100) in December 2009 to 110.4 in January 2010, its highest level since September 2008. The

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  • UK: BMW engine plant produces two millionth unit

    BMW has announced that its Hams Hall engine plant near Birmingham, England produced its two millionth unit – a four-cylinder, 2.0-litre gasoline engine – on 26 February. The plant, which employs around 800 workers, commenced volume production in 2001 following an investment of £400m (US$611.2m). Additional investment was made in

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    Japan: January sees first export rise in 16 months

    Total vehicle production in Japan rose 30.7% year-on-year in January to 753,773 units, marking the third consecutive month of growth, according to data from the Japan Automobile Manufacturers Association (JAMA). Passenger cars accounted for the bulk of output at 656,606 units, up 32.7% from January 2009 figures. Within this segment,

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  • China: Visteon JV supplies Chevrolet New Sail

    Visteon has announced that Yanfeng Visteon Automotive Electronics (YFVE) – the electronics arm of the supplier’s joint venture with the Shanghai Automotive Industry Corporation – has launched instrument cluster and audio systems programmes on Shanghai General Motors’ new small car, Chevrolet New Sail. YFVE developed the products based on Visteon’s…

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  • US: Fitch Ratings upgrades Tenneco

    Having recently upgraded ArvinMeritor’s Issuer Default Rating (IDR), secured bank facility ratings, and unsecured notes ratings, Fitch Ratings has announced similar upgradings for Tenneco. The ratings agency has increased the IDR to ‘B+’ from ‘B’; the senior secured revolving credit facility to ‘BB+/RR1’ from ‘BB/RR1’; the senior secured term loan

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  • US: ArvinMeritor prices equity issue

    ArvinMeritor has announced that it has priced its public offering of 17,350,000 shares of common stock at a price of US$10.50 per share. The size of the offering was increased from the previously announced 15,000,000 shares. In connection with the offering, ArvinMeritor has granted the underwriters an over-allotment option to

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  • Germany: Volkswagen launches ‘Think Blue.’ campaign

    A new image and marketing campaign for efficient driving and environmental awareness – ‘Think Blue.’ – is to be launched by Volkswagen on 27 February. The OEM believes the new campaign, which is derived from the BlueMotion environmental label, sends out a “new signal for sustainable mobility.” The ‘Think Blue.’…

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