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Entries tagged "automotive"Volkswagen vrooms past ToyotaThanks to Volkswagen's merger with Porsche, the combined company has finally sped past Toyota to become the world's largest automaker. South Korea's Ssangyong: Too-small-to-survive?Striking workers faced off against riot police inside Ssangyong's last plant over a court order allowing the company to reduce its workforce by 36%. Qatar's getting a new $3.45B PorscheThe sports car maker is gearing up to sell the sovereign wealth fund a 25% stake for $3.4 billion. Schaeffler Group forced into seeking investment?German Schaeffler Group is pleading their case for the ill-timed €11 billion acquisition of car parts group Continental AG that has left them €22 billion in the hole. Jaguar Land Rover gets cash injection from TataIndia's Tata Motors Ltd. has reportedly agreed to inject "tens of millions of pounds" into luxury car maker Jaguar Land Rover, to prevent it filing for bankruptcy, while the British government is still considering taxpayer loan guarantees to keep it afloat. ... GM, Chrysler may be rethinking prepacked bankruptcy filingIt appears that Rick Wagoner may be mulling his decision to not even consider bankruptcy, if it means getting a government bailout that could keep General Motors Corp. making cars. An undisclosed source familiar with the internal discussions at GM and Chrysler LLC has told Bloomberg that executives at both carmakers are considering accepting a prearranged bankruptcy as the last-resort price of getting the billions from the federal government needed to keep them afloat. ... Report: GM-Chrysler closer to winning government deal financingGeneral Motors Corp. is reportedly making progress in its efforts to win government funding for a possible merger with Chrysler LLC. GM and Chrysler private equity owner Cerberus Capital Management LP have been in talks for weeks about a potential deal, but General Motors according to sources is reluctant to do any deal that would not provide it with at least some of the estimated $15 billion in new liquidity it needs to survive a sales slowdown. With Cerberus and other private investors apparently unwilling to provide that level of capital, the companies have turned to their allies in Washington... New rumor links Volvo to BMWWith Detroit's Big Three scrambling to raise cash and weather what is expected to be a prolonged sales slowdown, it is probably no surprise that a fresh rumor has emerged about Ford Motor Co. potentially selling its Volvo Cars Corp. subsidiary. The latest report comes from London's Sunday Times, which quotes unnamed senior car industry sources saying that Ford might sell Volvo to BMW AG as part of its drive to raise cash. ... GM, Chrysler appear to be seeking alternativesWith the obvious caveat that reading too much into the day-to-day media reports about ongoing M&A discussions can be a fools game, safe to say that all indications Wednesday are that talks between General Motors Corp. and Chrysler LLC's private equity owner Cerberus Capital Management LP are stuck in neutral.... Is bankruptcy a better option for Chrysler?With many in the industry remaining skeptical about the prospects for success of a General Motors Corp. acquisition of Chrysler LLC, business professor and longtime auto industry critic Peter Morici has an alternative suggestion for Chrysler's owners: Declare bankruptcy.... Not ready for GReddy's filingHere's a lesson for those that tend to believe everything they read, including what's in press releases. GReddy Performance Products Inc. is operating under Chapter 11 protection, which may come as a surprise to anyone who might have read the auto parts maker's Sept. 9 press release. In that release, GReddy announced that its parent company, Japanese automotive performance products giant Trust Co., had filed for "Minji-sasei-hou" in Tokyo, which is the equivalent of a Chapter 11 filing in the U.S. Was that a problem for GReddy? As it crowed in the statement, hardly. ... Is Cerberus forcing GM's hand?GMAC LLC is reportedly tightening its lending standards to the point where a large swath of General Motors Corp. customers may be unable to get financing to buy cars. Might this be part of GMAC's partial owner Cerberus Capital Management LP's efforts to strong-arm GM back to the table to discuss a deal to swap GMAC for Chrysler LLC?... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "automotive." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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