South America

Magna stock falls 4.7% after Brazil antitrust regulator visits local unit

4:02 pm U.S. ET | Sept. 19, 2014
Magna International shares tumbled the most in more than two years after the supplier said the offices of its Brazilian unit were visited in connection with an antitrust investigation....
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Bosch approaches Brazil regulator over spark plug cartel

Sept. 8, 2014 14:36 CET
Bosch says it approached Brazil's antitrust authorities after discovering it had been operating a cartel in spark plugs together with Japan's NGK Spark Plug Co. "We have reported ourselves to the authorities," the supplier said....
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Volkswagen spied on Brazilian union activists in 1980s, report says

Sept. 5, 2014 15:19 CET
Volkswagen spied on Brazilian union activists in the 1980s and passed sensitive information about wage demands and other private discussions to the country's military dictatorship, according to newly uncovered documents seen by Reuters....
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GM to invest $2.8 billion in Brazil over five years, Barra says

12:15 pm U.S. ET | Aug. 14, 2014
General Motors will invest 6.5 billion reais ($2.8 billion) in Brazil over the next five years, CEO Mary Barra said today. She said GM remains committed to one of its most important markets....
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Manheim enters Brazil with acquisition of auction company CarBizz

2:51 pm U.S. ET | Aug. 13, 2014
Manheim, the largest auto auction company in the United States, has expanded its global operations into South America with the acquisition of Brazilian auction company CarBizz....
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VW brand sales rise on Europe, China gains

Aug. 12, 2014 11:48 CET
VW increased sales at its core passenger-car brand by 4 percent in July as higher deliveries in western Europe and China offset declines in the United States and Brazil. Global sales of VW brand cars and SUVs rose to 491,600 last month....
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Suppliers see promise in China's aftermarket

12:01 am U.S. ET | Aug. 5, 2014
The global replacement parts business likely will become even more appealing to automotive suppliers. In emerging markets, and especially in China, many new vehicles sold in recent years now need replacement parts....
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Grammer expands into Brazil

12:01 am U.S. ET | Aug. 4, 2014
Thanks to some newly won contracts, German auto supplier Grammer AG has made its debut in the Brazilian passenger car market. Until now, Grammer do Brasil had provided only truck seats and agricultural machinery in the South American country....
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VW may open planning center in Brazil to revive sales

July 25, 2014 10:07 CET
VW Group is mulling a planning center in Brazil. It would be part of the automaker's 3.6 billion euro ($4.85 billion) investment in new models, plants and technology for the country through 2018, sources said....
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GM may put Brazil workers on paid leave

9:21 pm U.S. ET | July 24, 2014
GM wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union says, amid falling output in Latin America's largest economy....
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Mexico projected to surpass Brazil as top Latin American vehicle producer

12:01 am U.S. ET | July 8, 2014
Mexico is poised to overtake Brazil as the top Latin American automobile producer for the first time in more than a decade as surging exports to the U.S. spur factory openings and record output....
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Fiat Chrysler will achieve 2014 targets despite weak Europe, difficult Brazil, Marchionne says

June 13, 2014 15:53 CET
Fiat Chrysler CEO Sergio Marchionne said the company will meet its 2014 targets even though Europe shows no sign of improvement and the Brazilian car market will remain difficult....
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Brazilian Bronco?

12:01 am U.S. ET | June 9, 2014
Ford's Troller T4, introduced last week in Brazil, looks like a mixture of a Land Rover Defender, Jeep Wrangler and Suzuki Samurai....
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Fiat to get Mitsubishi pickup, sources say

12:01 am U.S. ET | June 9, 2014
Fiat will team up with Mitsubishi to add a long-promised large pickup to its lineups in Europe and Latin America....
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Ford expects 'significant' Q2 loss in South America

3:24 pm U.S. ET | June 5, 2014
Ford expects to incur a "significant" loss in South America in the current quarter mainly due to low sales volumes and changes to Venezuela's foreign exchange rate....
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GM to start exporting cars from India in 2nd half of year

9:23 am U.S. ET | May 28, 2014
General Motors will start exporting vehicles from India in the second half of the year, aiming to ramp up local capacity utilization rates amid a slowdown in the domestic auto market....
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VW CEO Winterkorn pledges growth in U.S., Brazil

May 13, 2014 12:24 CET
Volkswagen CEO Martin Winterkorn said the automaker will redouble efforts to boost flagging sales in the United States as well as grow in Brazil as VW chases Toyota's global sales lead....
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Who will build the new Jeeps?

12:01 am U.S. ET | May 12, 2014
When the Allied armies won World War II overseas, they did so in a Jeep....
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Rolls-Royce recruits former Chery executive

May 9, 2014 06:01 CET
Rolls-Royce named Brett Soso, a former executive at China carmaker Chery, as regional director for the Middle East, Africa and South America....
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BMW joins Mercedes defying Brazil auto-market decline

April 29, 2014 06:01 CET
Brazil's anemic auto market is getting a boost from affluent motorists buying Mercedes and BMW cars. The premium segment grew 32 percent in the first quarter amid total vehicle sales that fell 5 percent....
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VW to lay off 900 workers in Brazil

April 25, 2014 07:33 CET
VW will lay off about 900 workers at two Brazilian plants in response to sluggish demand for cars in Latin America's largest economy....
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GM's global sales rise 2% to 2.42 million in Q1

4:19 pm U.S. ET | April 17, 2014
General Motors said global vehicle sales rose 2 percent during the first quarter. Increasing deliveries in China helped make up for declines in the United States and Brazil....
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Renault invests 240 million euros in Brazil

April 17, 2014 17:26 CET
Renault will invest 240 million euros ($331 million) to build additional vehicle models and a new logistics centre in Brazil....
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Ghosn sees 'bright spots' for carmakers as Europe revives

April 16, 2014 07:23 CET
Global carmakers will see rising demand this year as sales in China and the United States expand and Europe starts to grow again, Renault-Nissan CEO Carlos Ghosn said....
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Chrysler to take $130 million charge in first quarter due to Venezuela

4:25 pm U.S. ET | April 11, 2014
A change in the way it measures currency in Venezuela will cause Fiat Chrysler Automobile's Chrysler Group LLC unit to take a $130 million charge in its first quarter, Chrysler said today in a filing with federal regulators....
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