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Friday, November 11, 2011

ANE DAILY: Europe's debt crisis leads to steep discounts on new car sales; GM shifts Chevrolet's European marketing operations to Asia

DAILY NEWSLETTER November 11, 2011
 
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Europe's debt crisis leads to steep discounts on new car sales
Dealer profitability, carmaker earnings hit by incentives needed to woo buyers
image Europe's debt crisis and austerity measures are creating a "vicious circle" for the auto industry, forcing automakers to offer steeper discounts for new cars. Automakers and their dealers are suffering. ... arrow story  Published: November 11, 2011 10:23 European Central time
TODAY'S HEADLINES
arrowEurope's debt crisis leads to steep discounts on new car sales
arrowGM shifts Chevrolet's European marketing operations to Asia
arrowGermany to buy Daimler's EADS stake to keep even with France
arrowCarmakers investing in Brazil production will miss tax hike, report says
arrowToyota to resume normal output in Japan Nov. 21-25


GM shifts Chevrolet's European marketing operations to Asia
General Motors has shifted marketing of Chevrolet cars in Europe to its Asian and Middle Eastern unit. The General Motors International Operations unit, which already sells GM's brands including Chevrolet outside the Americas and central and western Europe, will take on Europe as of Jan. ... arrow story  Published: November 11, 2011 10:34 European Central time

Germany to buy Daimler's EADS stake to keep even with France
imageGermany's government agreed to buy a 7.5 percent stake in European Aeronautic Defence and Space Co. after failing to find a private investor, ensuring its sway over Europe's largest defense company remains on par with France. ... arrow story  Published: November 11, 2011 11:05 European Central time

Carmakers investing in Brazil production will miss tax hike, report says
Foreign automakers committed to installing factories in Brazil will be able to avoid a steep tax hike on imported cars as long as they meet regular investment targets, a newspaper report said. Brazil is a key market for automakers including Fiat, Volkswagen, General Motors and Ford . ... arrow story  Published: November 11, 2011 14:02 European Central time

Toyota to resume normal output in Japan Nov. 21-25
imageToyota said its production in Japan would return to near normal levels in the Nov. 21-25 week, after Thai floods disrupted parts supplies, but that it was still unsure about output from Nov 28. ... arrow story  Published: November 11, 2011 10:58 European Central time

BLOGS
 
blogs Yang Jian is managing editor of Automotive News China.
 
China's domestic automakers are suffering from self-inflicted damage
China's domestic automakers likely will pay a steep price for their anything-goes business strategy in recent years. When auto sales were growing more than 30 percent a year, Chinese automakers hastily expanded production capacity and distracted themselves with nonautomotive investments. Unless they reverse course, these companies will find themselves in deep financial trouble. ... arrow Read the blog  Published: November 11, 2011 06:01 European Central time


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1. Opel union boss angry as GM eyes more cuts in Europe
 story 
2. Russian car sales growth forecast to slow in 2012
 story 
3. GM's climb back to global No. 1 reflects industry shift
 story 
4. China's Youngman still wants to buy Saab, report says
 story 
5. German luxury brands report strong China sales in October
 story 
6. VW's Seat prepares to launch electric car and plug-in hybrid
 story 
7. Renault says Nissan will make electric batteries in France
 story 
8. GM abandons Europe breakeven goal after Q3 profit drops
 story 
9. GM's restructuring pledge raises alarm in Europe
 story 
10. Daimler loses bid for U.S. review of Argentine rights case ruling
 story 

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