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Ferrari spin-off might lower FCA debt by 715 million euros


According to a regulatory filing, Fiat Chrysler Automobiles (FCA) forecasts that its net industrial debt would be trimmed down by around 715 million euros as the company plans to spin-off its luxury sports car manufacturer Ferrari. The recently merged FCA – now the seventh-largest global automaker – already acknowledged this month in a separate filing issued to US market regulator SEC ...
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GM dropping production at Cadillac plant to match supply with demand
General Motors has moved to axe one of the production shifts at the Michigan assembly facility where the carmaker outputs the premium Cadillac ATS and CTS models. This is one of ...
After Toyota official, a Honda executive also backs Takata
Japanese auto safety systems suppliers Takata Corp. has come to widespread attention because of its ongoing debacle with airbags manufactured between 2000 and 2007. Over the past years, millions of cars ...
Honda cuts Thailand production and postpones new facility
Honda Motor Co’s Thai division has decided to slow down production at its Ayutthaya manufacturing facility to just 60% of its capability, as political tensions in the country have impacted ...
UK – Subaru BRZ gets price cut
Subaru has announced a significant price cut for the BRZ in the United Kingdom where the model in question is now 2,500 GBP cheaper. If you were looking up into the ...
Suzuki S-Cross gets price cut in Australia
Suzuki has recently chopped the price of the S-Cross in Australia, where the most affordable version of the model is now available to its future customers from 1,000 AUD less ...
India’s government proposes auto duties cuts
In a move that might reduce car prices and grow falling sales, India’s finance minister has announced a proposal to reduce factory duties on vehicles, with small cars now taxed ...
Moody’s cuts rating, Fiat shares drop
Because Moody's decided to cut Fiat's rating to 'B1' from 'Ba3', the Italian automaker’s shares were slightly down. Moody's explained the decision, citing the lower than expected results from last year, ...
Britain’s Insurer Direct Line Will Lay Off Almost 2,000 Employees
The British Direct Line Insurance Group announced its plans to cut 2,000 jobs, part of its strategy to boost profit and reduce costs. Direct Line Insurance Group, which is the motor ...
Australia: McLaren MP4-12C gets $100,000 price cut
McLaren has recently announced a price cut for the MP4-12C in Australia which is more than significant. New rear mid-engined supercar buyers in Australia are going for the MP4-12C’s rivals, the ...

latest automotive news
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Ecclestone determined to change 2016 engine rules
Dec.20 (GMM/Inautonews.com) Bernie Ecclestone has confirmed reports he remains determined to shake up F1's engine rules. We reported that, at ...
De la Rosa leaves Ferrari, Vergne signs up
Dec.20 (GMM/Inautonews.com) Ferrari has confirmed speculation Pedro de la Rosa is vacating his test-driver post. It was rumoured the 43-year-old ...
2016 CT6 Cadillac gets streaming rearview technology
The streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, rear ...
US: Ally gets out of 6 years bailout
Ally Financial Inc. stated that it would finally resolve its bailout after the U.S. government will sell the last $1.25 ...
Daimler puts aside €600 million for EU antitrust investigation
The Germany-based company, Daimler, stated on Thursday it is putting aside 600 million euros to cover any potential costs that ...
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyer
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Report – Volkswagen will meet its 2017 cost-cutting goal
Volkswagen CEO, Martin Winkerton, has said according to a source that the carmaker is on the right track to reach ...
GM’s bankrupt predecessor helps customers get the $10 billion compensation
General Motors customers gained a new friend in their run for the compensation worth $10 billion. The automaker’s bankrupt predecessor ...
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GM and Jaguar Land Rover stopped deliveries to Russia
In response to the slide in the rouble’s value, automakers, General Motors and Jaguar Land Rover included, decided to stop ...
Uber wants to patent its gouging prices
While critics accuse Uber of price gouging over the high fees asked in Sydney for the people who were fleeing ...
Ford closes Genk Plant in Belgium
With a production of around 14 million cars over the past 50 years, Ford shut the doors of its plant ...
Price of U.S. gas reaches under $2.50 a gallon
U.S. drivers are paying less than 2.50 dollars a gallon at the gasoline pump for the first time in more ...
Toyota will invest $126M to expand powertrain operations
Toyota announced today that it will invest $126 million in the expansion of its powertrain operations in Ann Arbor and ...
Spyker declares bankruptcy
On Tuesday, Spyker, the Dutch sportscar maker which owned Saab, was declared bankrupt when not succeeding to secure a loan ...
Mazda readies seven tuned cars for its home Tokyo Auto Salon
The Japanese automaker has prepared seven tuned models, all of them scheduled to make their official public debut during the ...