Tim Schuldt News
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Bayerische Motoren Werke AG stood by plans to increase 2012 profit after third-quarter earnings beat analyst expectations, helped by gains from auto loans.
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Schaeffler AG, a German industrial bearings maker, sold a 10.4 percent stake in Continental AG for 1.6 billion euros ($2 billion) to reduce debt after a failed takeover of the tire producer.
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For General Motors Co. Vice Chairman Steve Girsky, it’s sink-or-swim time.
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Volkswagen AG ’s Audi unit defended its top spot in luxury-auto sales in Europe last year while Bayerische Motoren Werke AG ’s main brand captured second place from Daimler AG’s Mercedes-Benz as premium-car demand revived.
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Daimler AG, the world’s third- largest maker of luxury vehicles, stuck to its goal of keeping earnings steady, even as car and truck demand softens and the company boosts spending on new models.
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Daimler AG, the maker of Mercedes- Benz cars and trucks, is doubling investment at its plant in Rastatt, Germany, to build sportier compact cars in an effort to overtake top-ranked Bayerische Motoren Werke AG.
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Hyundai Motor Co. and sister brand Kia, already boosting sales in Europe’s contracting auto market, are extending their challenge to Fiat SpA and PSA Peugeot Citroen by enlisting soccer stars to steal customers.
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Porsche SE ’s supervisory board is set to approve the production of its 918 Spyder hybrid sports car at a meeting next week, according to two people with direct knowledge of the matter.
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Porsche SE plunged the most in more than two years after saying efforts to combine with Volkswagen AG by the end of 2011 had failed because of pending lawsuits.
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Bayerische Motoren Werke AG is rolling out a bigger 1-Series compact car to reclaim the top spot from Audi for the first time since 2008 in the competition for younger customers purchasing entry-level luxury autos.
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