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European car industry choking on emission rules

FRANKFURT EU rules to cut CO2 emissions drew a range of views from industry figures at the Reuters Autos Summit, but all said it would be costly to a sector already hit by pricier raw materials, a strong euro and nervous consumers.

Subprime woes to hit car sector: Nomura banker

FRANKFURT The U.S. subprime mortgage crisis is about to make life hard for major carmakers as people who cannot make payments on their houses stop paying off their car loans or leases as well, a senior investment banker said. | Video

European car, parts makers shrug off dollar fall

FRANKFURT Many European car and car parts makers have shrugged off the dollar's fall against the euro because they have hedged against the risk or avoided it altogether by operating plants in the United States.

Continental relaxed about EU okay for VDO buy

FRANKFURT German car parts maker Continental expects it will receive antitrust approval from the European Commission for its VDO acquisition by the end of this month, without having to sell off any key assets. | Video

Asia on the hunt for European technology

FRANKFURT Asian car and car parts manufacturers want to follow the example of Japan's NTN and buy companies in Europe that will give them a technological edge, an investment banker at Nomura International said on Wednesday.

Union chief blasts "stupid" Chrysler strategy

DETROIT Chrysler LLC's recent decision to cut up to 10,000 factory jobs and slash production in North America tested the credibility of the automaker's new private equity owner, the head of the Canadian Auto Workers said on Tuesday. | Video

UAW may endorse presidential candidate by year-end

DETROIT The United Auto Workers union could decide by the end of the year which Democratic candidate to endorse in the upcoming U.S. presidential elections, UAW President Ron Gettelfinger said on Tuesday.

GM to launch Volt by end-2010 despite skepticism

DETROIT General Motors Corp plans to launch its electric car, the Chevrolet Volt, by the end of 2010 despite skepticism at GM about that target, its chief of global product development told Reuters on Tuesday. | Video

Smart welcomes rivals, sees hybrid

DETROIT Smart USA, the distributor of Daimler AG's Smart microcar in the United States, expects to have a hybrid variant available in two years with a rechargeable electric version to follow, a senior executive said on Tuesday. | Video

UAW to set up strict controls on VEBA

DETROIT The United Auto Workers union is establishing clear rules for a massive new health-care trust intended to guarantee the independence and solvency of a $56 billion fund that will be set up by the Detroit automakers. | Video

GM says no ResCap contingent liabilities

DETROIT General Motors Corp has no contingent liabilities through the GMAC finance company, which has been damaged by the subprime crisis, but could face more losses because of its 49 percent ownership, a top GM executive said on Tuesday.

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