US to get Chinese Chrysler cars
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Chrysler announces plans to develop cars with Chinese auto maker Chery for export to the US and Europe.
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Investment banks helping Cerberus Capital Management LP finance its buyout of Chrysler, the U.S. arm of automaker DaimlerChrysler , will launch a road show in the next week to raise funds for the deal, according to a report in the Wall Street Journal, citing a source familiar with the matter.
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The board of DaimlerChrysler said it had approved an alliance of its Chrysler Group unit and the Chery Automobile Company of China aimed at the market for smaller cars. Under the deal, which would not include an equity investment, Chery would build vehicles under Chryslerâs brand names for sale in the United States and Europe, DaimlerChrysler said. Chrysler reached its deal with Chery at the end of December.
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Dodge will join Chevrolet and other mainstream American brands being sold in China when sales begin sometime this year, DaimlerChrysler AG announced Friday.
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German-US auto giant DaimlerChrysler no longer rules out the sale of its loss-making US subsidiary Chrysler and may present a plan at its annual earnings news conference later, newspapers have reported.
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U.S. buyout firm Cerberus Capital Management  won approval from the European Commission on Tuesday to buy U.S. carmaker Chrysler from DaimlerChrysler .
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German-US auto giant DaimlerChrysler has said it planned to axe 13,000 jobs at its loss-making Chrysler subsidiary as part of a broad restructuring plan aimed at returning the US unit to profitability by 2009.
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NEW YORK/DETROIT  - General Motors Corp. is in preliminary talks to buy Chrysler, the struggling U.S. arm of DaimlerChrysler AG, a source familiar with the situation said on Friday.
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British automaker MG Rover discussed Saturday a $1.8 billion deal with China&#39;s Shanghai Automotive Corp., the BBC reported. The two companies would set up a new company to produce cars for the Chinese market under the deal.
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General Motors said Monday it will start making Cadillacs in China this year, joining a race by foreign luxury car brands to sell to the country's newly rich elite.
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Hyundai Motor Co. said Friday it expects to increase sales by about 10 percent in the United States and 64 percent in China in 2008 by introducing new models after missing targets last year.
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Visionary Vehicles LLC, started by the  man who brought the Yugo car to America in the 1980s, plans to  sell a million vehicles from China on the U.S. market at  bargain-basement prices by 2011, the company said on Monday.
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SHANGHAI -- When Chery Automobile cars first appeared outside of China in 2001, they were ridiculed as a cheap attempt to trick purchasers into thinking they were buying Chevy vehicles instead of Chinese knockoffs.
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DaimlerChrysler is in talks with companies in China and elsewhere for the export of subcompact cars to North America.
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General Motors Corp  said it would export more than $800 million worth of U.S.-built Buick sport utility and other vehicles and components to China starting in 2008 in its second export agreement with China this year.
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Britain's last big carmaker MG Rover is about to seal a Â£1bn agreement to help build 200,000 cars a year in China.
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A detailed sales prospectus for Chrysler Group will be ready for potential buyers of the automaker soon, a source close to the process told Reuters on Friday.