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AUTOS WORLD NEWS
* GM falls to 23-year low after Kerkorian trims stake
SAN FRANCISCO,CAL,USA -MarketWatch, by Shawn Langlois -21 Dec 2005: General Motors shares extended the prior session's losses, falling 1.6% to $19.53 Wednesday after touching a 23-year low of $19.30 earlier. After the market close on Tuesday, Kirk Kerkorian's Tracinda Corp. disclosed in an SEC filing that it reduced its stake in the automaker to 7.8% from 9.9% by selling 12 million shares over the past few days...
* DaimlerChrysler won't give more money for job cuts
FRANKFURT,Germany -Reuters -20 Dec 2005: DaimlerChrysler's designated CEO Dieter Zetsche intends to eliminate around 8,000 more German jobs without adding more money to the 950 million euros ($1.14 billion) set aside to finance 8,500 cuts at Mercedes...
* Mercedes-Benz tops 2005 German car recalls
STUTTGART,Germany -Reuters/Auto Motor und Sport -20 Dec 2005: DaimlerChrysler's premium Mercedes-Benz brand recalled the most cars in Germany this year as it stepped up a campaign to address nagging quality issues...
* Skoda to pay Volkswagen special dividend
PRAGUE,Czech. -Reuters-20 Dec 2005: Czech carmaker Skoda Auto has agreed to pay an extraordinary dividend of 2.916 billion crowns ($121 million) from retained earnings to its sole owner, Volkwagen...
* GM Recalling Vans
USA - The Car Connection -21 Dec 2005: General Motors is recalling about 425,000 vans from the 2003 to 2006 model years for a problem with seatbelt buckles. The company's Chevrolet Express and GMC Savana vans are involved in the recall announced Tuesday. In the affected models, seatbelt buckles may not latch or unlatch properly. GM says no injuries have been linked to the problem, which will be repaired under warranty...
* Ford completes $15B sale of Hertz
NEW YORK,NY,USA -MarketWatch, by Thomas Middleton -21 Dec 2005: Clayton Dubilier & Rice Inc., Carlyle Group and Merrill Lynch Global Private Equity said Wednesday they completed the acquisition of Hertz Corp. for $15 billion. Hertz, formerly a subsidiary of Ford Motor Co., is the largest vehicle rental company in the world...
* Hyundai to add 600 jobs in state
Detroit,MIch,USA -The Detroit News, by Christine Tierney -21 Dec 2005: South Korea's fast-growing automaker Hyundai Motor Co. will invest $94 million to expand its new technical center near Ann Arbor, adding 600 jobs and bolstering southeast Michigan's effort to become North America's automotive high-tech powerhouse... Like other Asian automakers, South Korean company aims to tap engineering talent...
* Largest Chinese auto supplier aims to take over Delphi
BEIJING,China -Xinhuanet -21 Dec 2005: The largest Chinese auto supplier,Wanxiang Group, aims to take over the partial business of the U.S.-based auto supplier Delphi Corporation, which filed for bankruptcy two months ago, said the China Securities Journal on Wednesday... But the Wanxiang Group said it is still unclear whether it will succeed in the purchase, said the journal...
* Gasoline efficiency readout helpful
Detroit,Mich,USA -The Detroit News, by Anita Lienert -Dec 21, 2005: Device on Tahoe lets driver know how many cylinders the vehicle uses... It's a new digital readout that tells you when the SUV's 5.3-liter V-8 engine is running on a fuel-saving four cylinders or is being powered by all eight cylinders... The technology, initially called "displacement on demand," but recently renamed "active fuel management" by General Motors, is offered on nine of the company's vehicles, including the Saab 9-7X and the Buick Rainier...
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