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AUTOMAKERS * WORLDWIDE
* Italy - Fiat: Strike caused output to drop by 20,000 units
- A transport strike in Italy has forced automaker Fiat SpA to cut production, prompting the automaker to warn Thursday that it may have to close some plants temporarily. The 20-day old strike by heavy transport drivers against government austerity measures has forced the carmaker to produce 20,000 fewer cars. Heavy transport drivers, including those who move the multi-deckered trailers that transport cars, have been striking against government measures that have increased the price of fuel... Read more* Marchionne's 2011 compensation from Fiat SpA totaled $19M
- Fiat SpA Chief Executive Officer, Sergio Marchionne, received compensation totaling $19 million (14.5 million euros) in 2011, mostly in stock grants. Marchionne had a salary of 2.45 million euros by the Italian carmaker, according to a filing released Thursday. He also got stock-related remuneration, which had a "fair value" of 12.01 million euros, Fiat said. Marchionne didn't receive any compensation from Chrysler, where he is Chairman and CEO, last year... Read more* Renault, Peugeot lead biggest Europe auto-sales drop since 2010
- Renault SA, PSA Peugeot Citroen and Fiat SpA led the biggest European sales drop in more than a year among the major car brands on the continent as consumers shied away from major purchases amid a weak economy. Registrations in February fell 9.2 percent from a year earlier to 923,381 million vehicles. Sales in France, Europe's second-biggest market after Germany, plummeted 20 percent, while deliveries in Italy, its third-biggest, plunged 19 percent... Read more* India Auto Makers Raise Vehicle Prices On Higher Factory Gate Tax
- India's auto makers Friday began raising prices of cars and sport-utility vehicles to pass on an increase in factory gate tax, a move that the industry expects will crimp demand for new vehicles in Asia's third-largest automobile market... Demand for new cars and SUVs has remained tepid this financial year through March due to higher fuel costs, expensive loans and high inflation. Local sales of cars and SUVs grew 2.95% during April 2011 to February 2012 from 30% a year earlier...
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