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Volkswagen chief: No. 1 in the world by 2018
Wed, 29 Sep 2010Volkswagen chairman Martin Winterkorn reaffirmed his company's ambitious and audacious goals on Wednesday night on the eve of the Paris motor show: pass Toyota and General Motors for the title of world's largest automaker in 2018. Winterkorn was the final speaker after an event that featured unveilings from each of the German conglomerate's brands. He said his company wants to record total sales of 10 million in eight years, which would vault it pass the current levels of global leaders Toyota and GM.
Crunch watch Nov 09: the auto industry in crisis
Mon, 30 Nov 2009Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Monday 30 November 2009• Saab's future is likely to become clearer tomorrow when the GM board meets in Detroit. It will have to decide whether to seek a new buyer or put Saab into liquidation (Financial Times)• Don't rule out an eastern bid for Saab: Beijing Automotive is still interested in buying the Swedish car maker despite its joint bid with Koenigsegg hitting the rocks, reports Automotive News.
News watch November 2010: today's auto industry news
Tue, 30 Nov 2010Welcome 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-hour Tuesday 30 November 2010• Fiat and Opel have signed an agreement whereby Fiat will supply vehicles comprising of several variants to Opel, commencing December 1 (Fiat)• Electric cars will make up 20 per cent of UK car sales by 2016, according to National Grid CEO Steve Holiday (Automotive News Europe)• Toyota has said it will repair 650,000 Prius models worldwide because of a fault with the coolant pump (BBC News)• Porsche look likely to succeed in persuading preferred shareholders to support a €5 billion stock sale becuase the deal may offer the chance to buy into Volkswagen at a discount rate (Bloomburg)• China will become Rolls Royce's biggest market, surpassing America as early as 2011 (Automotive News Europe) Monday 29 November 2010• Bentley has appointd a new CEO to succeed Franz-Josef Paefgen, who's retiring. Porsche R&D director Wolfgang Dürheimer, 52, is now chairman and chief exec of Bentley Motors and Bugatti (Bentley)• In return, Porsche has replaced Dürheimer with Wolfgang Hatz, an internal appointment.