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NEW YORK-- A William Blair analyst on Tuesday downgraded CarMax Inc. to "Market Perform" from "Outperform," saying that sales expectations for the used car dealership chain may be too high and pointing to the steep increase in its share price.
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Luca de Meo, board member of marketing at Audi, tells CNBC why big brands need to develop ecological cars as well as traditional, powerful motors if they are to compete in a challenging climate.
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Torsten Muller-Otvos, CEO of Rolls-Royce Motor Cars, tells CNBC that the luxury manufacturer's new Wraith, unveiled at the Geneva Motor Show, is the most powerful Rolls Royce ever built.
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TORONTO, March 1- Canadian auto sales dropped a moderate 3.3 percent in February in a third straight monthly decline, according to industry data released on Friday, as a hardy appetite for Detroit's Big Three brands helped offset a setback for Japanese makers.
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*Chrysler US Feb sales up 4 pct, Toyota up 4.3 pct. DETROIT, March 1- U.S. auto sales rose nearly 4 percent in February, delivering a better-than-expected performance as strength in the U.S. housing market tempered worries over the wave of U.S. federal spending cuts due to begin on Friday.
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*Chrysler US Feb sales up 4 pct, Toyota up 4.3 pct. DETROIT, March 1- U.S. auto sales in February were on track to show a fourth straight month of strong sales as gains in the U.S. housing market offset the risks posed to the broader economy by the wave of U.S. federal spending cuts due to begin on Friday.
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The American auto industry posted steady sales gains for the month of February, as executives reiterated their belief the industry sales pace this year will wind up in a range of 15.3 to 15.5 million vehicles.
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General Motors reported a 7.0 percent gain in U.S. auto sales in February, beating several analyst estimates, while U.S. rival Ford Motor posted a slightly weaker-than-expected 9.0 percent gain.
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DETROIT, March 1- General Motors Co reported a 7.0 percent gain in U.S. auto sales in February, beating several analyst estimates on the strength of its crossover models and pickup trucks, while U.S. rival Ford Motor Co posted a slightly weaker-than-expected 9.0 percent gain.
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SAO PAULO, March 1- Brazilian car sales slowed in February to their weakest pace in nearly a year, according to a source with access to market data, as holidays and the gradual removal of tax breaks sapped demand.
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The annual U.S. sales pace for the industry is on track to hit 15.3 million vehicles for February, RBC Capital Markets analyst Joseph Spak said in a research note. This surpasses the 15.1 million rate expected by economists polled by Thomson Reuters.
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Nearly four years after taking over Chrysler, Sergio Marchionne is ready to take the Detroit automaker to the next level.
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Chrysler, scrambling to keep up with greater demand for its Jeep Grand Cherokee, is hiring 1,250 workers and increasing production of 8 and 9 speed transmissions.
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*China may see slower growth in rubber imports this year. The financing deals, which have pushed rubber stocks in China to at least 3- year highs, are based on the expectation that China's economy will grow faster this year and traders who are in such deals would benefit from a rise in prices of rubber or other assets they invest in using the loans.
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DETROIT, Feb 26- U.S. auto sales in February were expected to show a fourth straight month of seasonally adjusted annualized sales above 15 million vehicles for the first time since early 2008, a sign of a sustained recovery after the recession.
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For the first time since 2007 the top ten vehicles picked by Consumer Reports does not include a model built by General Motors, Ford or Chrysler.
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Late Monday CNBC reported the company will ask the federal government for approval to pay CEO Dan Akerson $11.1 million in 2013. After initially saying it had no comment on pay requests for its top executives, GM now says it is requesting Akerson receive total compensation of $9 million.
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With the economy edging upwards, more car buyers are keeping up with their auto payments or coming up with the cash if the repo man appears. And that's more bad news for mom-and-pops that rely on repo work.
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PARIS, Feb 19- Ford, PSA Peugeot Citroen and Toyota led European car sales to a new low in January, kicking off 2013 with an 8.5 percent decline, the Association of European Automakers said on Tuesday. Peugeot and Toyota posted the next biggest declines among major automakers, dropping 16 percent each.
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Ford, PSA Peugeot Citroen and Toyota led European car sales to a new low in January, kicking off 2013 with an 8.5 percent decline, the Association of European carmakers said on Tuesday.
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PARIS, Feb 19- Ford, PSA Peugeot Citroen and Toyota led European car sales to a new low in January, kicking off 2013 with an 8.5 percent decline, the Association of European carmakers said on Tuesday. Registrations fell to 918,280 new cars, the Brussels- based industry body said in a statement, the slowest January since its records began in 1990..