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May 4, 2012

TRUCKMAKERS NEWS * WORLDWIDE

* USA / Japan - GM first proposed $3B controlling stake in Isuzu 

(Photo: A Isuzu i-series pickup playing in the sand) Detroit,MICH,USA -Autoblog, by Scott Burgess -May 2, 2012: -- General Motors initially wanted to buy one-third of Isuzu Motors Ltd, which would give it the right to veto board decisions, but has scaled back how much of the Japanese company it might try to buy, according to a new Reuters report... At current stock prices, GM would have paid more than $3 billion for a controlling share of the truckmaker, which specializes in small trucks and diesel powertrains. GM is now considering buying a 10 percent share, anonymous sources tell Reuters, which would make it the largest single owner of stock in the company. Toyota and Volkswagen both have smaller shares of Isuzu... GM once owned nearly half of Isuzu but sold off its last 7.9 percent of the company in 2006... 


* Germany - Daimler Didn't Strengthen Defense Strategy, Won't Spin Off Truck Unit -CFO 

Stuttgart,Germany -Dow Jones/The WSJ, (from UK) -May 2, 2012: -- Daimler AG Chief Financial Officer Bodo Uebber Wednesday dismissed recent media reports suggesting the German auto maker strengthened its defense strategy against a possible takeover and reiterated the company won't spin off its truck division in the foreseeable future... "Our management has stated that we will not do that [spin off the truck business]...We want one Daimler," Uebber told reporters at a roundtable discussion. Daimler doesn't view itself as takeover candidate... 

* France - Renault-Nissan to acquire control of Russia's largest car company in 2014 
Paris,France -The Detroit News, by Christine Tierney -4 May 2012: -- The Renault-Nissan Alliance, a partner of Russia's largest automaker AvtoVAZ, has struck a deal that will enable it to acquire control of the company in 2014... Paris-based Renault SA and Nissan Motor Co. have agreed to invest about $750 million over two years to obtain a majority holding in a new venture with AvtoVAZ's Russian stakeholders that will control the automaker, the companies said Thursday... The deal would expand Renault-Nissan's presence in Russia's fast-growing market, which is expected to overtake Germany to become Europe's largest...

* Italy - Fiat to revamp deal in India with Tata Motors 
- Italian automaker Fiat SpA says it will take over the distribution of its cars in India as it reshapes its joint venture with the Tata motor company. Fiat, said in a statement Wednesday that it will create a new company to sell cars in India, and encourage the 178 existing Fiat-franchised Tata dealers in 129 cities to be the basis of the future network. Fiat and Tata have had a joint venture since 2006 that has produced some 190,000 cars under the Fiat and Tata brands and 337,000 powertrains for the Indian domestic and export markets...

* South Korea - Hyundai trucks will be assembled in Manta/Ecuador

Ulsan,S. Korea -The WSJ -4 May 2012: -- The Korean Hyundai granted authorization for a new truck assembly plant to be installed in Ecuador... This truck assembly plant will be located in Manta (Manabi) and plans to open about 1,200 jobs... The truck assembly plant to be built not only supply the local market, but part of the production is aimed at exporting to the Venezuelan market...

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posted by Unknown @ 4:03 PM 

1 Comments:

Blogger willson said...

Its a great thing that GM first proposed $3B controlling stake in Isuzu.It will surely enhance the supremacy of GM.I have some more updates for car lovers of India.

General Motors India is planning to launch Chevrolet Captiva this month.Very nice and impressive SUV,Chevrolet Captiva looks very fabulous and stylish.It's sizzling performance with mind blowing mileage and power make it a new avatar of excellence.

9:14 AM  

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