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News watch October 2012: today's industry news
Wed, 31 Oct 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.
Ford and Geely agree on Volvo sale, could finalize deal in early 2010
Wed, 23 Dec 2009Ford expects to sign a deal to sell its Volvo car unit to China's Zhejiang Geely Holding Group by the first quarter of 2010 and close the deal in the second quarter, the U.S. automaker announced today. Ford said that all of the deal's key commercial terms have been settled.
JLR to build Range Rover Evoque & Jaguar XJ in India
Mon, 10 Feb 2014The 2014 Range Rover Evoque (pictured) joins the Jaguar XJ as new Indian-built cars Jaguar Land Rover already bolt together the Land Rover Freelander and Jaguar XF in India, which explains why they are the best-selling models in JLR’s range in India. That’s because import duties for cars in India can be as much as 170 per cent, so building cars locally make them much more competitively priced. At the Delhi Auto Expo Ralph Speth, JLR’s CEO, confirmed plans to start building the Jaguar XJ in India (including the XJ with the 2.0 litre EcoBoost engine), despite the complexity of producing as complex a car as the XJ outside the UK.