Max Warburton News
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Chinese auto dealership returns will decline as automakers add more of them, intensifying competition, Sanford C. Bernstein Ltd. said in a report.
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European car sales are sliding to a 20-year low after German concerns over the debt crisis sent demand plunging last month in the region’s biggest economy and removed the main buffer protecting automakers.
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Daimler AG and other global automakers, already predicting a drop in European deliveries of as much as 5 percent this year, will probably have to lower their forecasts after demand in Germany dropped the most in 2 1/2 years last month.
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Chinese automakers are about a decade away from being globally competitive and will have to increase their spending on research and development to close the gap, according to Sanford C. Bernstein & Co.
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Fiat SpA is discussing financing options with banks to strengthen its balance sheet in preparation to buy the Chrysler Group LLC stake it doesn’t own, three people familiar with the matter said.
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Japanese automakers are about to make another run at challenging Detroit’s dominance in trucks, and they will bang head-on into John Lucchese.
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Volkswagen AG Chief Executive Officer Martin Winterkorn can check one thing off his to-do list: beat rivals in profit.
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Daimler AG’s board is set to extend Chief Executive Officer Dieter Zetsche’s contract by five years, handing him the chance to deliver on his goals or risk the Mercedes brand falling further behind its competitors.
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Four months before Fiat agreed to take management control of Chrysler Group LLC, Chief Executive Officer Sergio Marchionne said he wanted to create one of the world’s top five carmakers.
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Volkswagen AG, Europe’s biggest carmaker, sold 2.5 billion euros ($3.2 billion) in bonds that will automatically convert to shares at maturity to boost liquidity following the purchases of Porsche and Ducati.
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