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Hyundai aims to sell 70,000 subcompact SUVs per year in China

BEIJING, April 24 (Yonhap) -- Hyundai Motor Co., South Korea's top carmaker, targets annual sales of 70,000 units of its new ix25 subcompact sport utility vehicle (SUV) in China as it seeks to capitalize on a fast-growing popularity of SUVs in the world's largest auto market, a company executive said Thursday. Hyundai unveiled the China-focused model at this week's Beijing Auto Show, where the latest SUVs have drawn the biggest oohs and aahs from urban Chinese customers enjoying bigger-than-ever incomes.

GM said it has shipped thousands of replacement ignition switches

DETROIT (Reuters) - General Motors Co on Wednesday said it has shipped "thousands" of kits needed to repair the defective ignition switches linked to at least 13 deaths. The No. 1 U.S. automaker also said letters were mailed last week to about 1.4 million owners of 2003-2007 models alerting them to contact dealers to schedule repair appointments, which should take about 90 minutes. Dealers have already reported receiving the parts and making repairs.

Toyota sells record 10 million vehicles in year to March

Japan's Toyota, the world's biggest auto maker, sold more than 10 million vehicles in the year to March for the first time, it said Wednesday, with last-minute buying ahead of a sales tax increase at home helping it break the key level. The announcement comes despite the firm struggling to recover its reputation for safety after the recall of millions of cars around the world for various problems. The firm said it shifted 10.13 million units in the 12 months to the end of March, a rise of 4.5 percent year on year and likely setting an industry record.

Toyota sells 2.58 million vehicles globally in first quarter, outpacing General Motors, VW

TOKYO - Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen. Toyota Motor Corp. said Wednesday that it sold a record 2.583 million vehicles in the January-March period, putting the Japanese automaker ahead of Detroit-based GM at 2.42 million and Volkswagen of Germany at 2.4 million. Toyota's first quarter sales rose by more than 6 per cent from the same period the previous year. GM's sales grew 2 per cent, while Volkswagen's added nearly 6 per cent.

Fifty years of Mustang cool: is China along for the ride?

From Steve McQueen to "The Fast and the Furious", the Mustang has long cruised through American pop culture, but Ford is hoping its snarling sports car will find a new generation of fans as it turns 50: in China. Launched in 1964 at an event on top of the Empire State Building, the Mustang quickly became a byword for cool among America's youth, who loved the slick, highly customisable "pony car" that stood out next to their parents' bulky sedans.

US auto safety agency investigating automatic braking on the 2014 Chevrolet Impala

DETROIT - Federal regulators are investigating the 2014 Chevrolet Impala after a driver reported that the emergency braking system activated multiple times without warning. The driver says that in one instance, the Impala was travelling at 40 miles per hour with no one in front of it when the brakes activated. The car was struck in the rear by another vehicle. No injuries were reported.

Netflix, Harley-Davidson, Tesla, Allergan and Comcast are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Harley-Davidson Inc., up $4.33 to $71.87 The motorcycle maker reported an 18.7 per cent increase in first-quarter earnings as revenue grew 5.8 per cent around the world. The Interpublic Group of Cos. Inc., up 49 cents to $17.36 The advertising company reported better-than-expected first-quarter results thanks to stronger demand in the U.S. Allergan Inc., up $21.65 to $163.65

Arotech shares drop on negative Seeking Alpha commentary

(Reuters) - Shares of Arotech Corp <ARTX.O>, a maker of lithium batteries for military tanks, fell as much as 17.5 percent after a report on stock commentary website Seeking Alpha said its shares were not worth more than $2, less than half of Monday's closing price. Arotech's shares more than doubled between February 26 - when Tesla Motors Inc <TSLA.O> said it planned to raise $1.6 billion to finance a new battery factory - and April 1, when the company said it would not enter the electric vehicle market.

Tesla expects big investment on charging stations in China

By Maxim Duncan BEIJING (Reuters) - U.S. electric carmaker Tesla Motors Inc <TSLA.O> expects to invest "hundreds of millions of dollars" building charging outlets in China, which could become its biggest global market next year, billionaire co-founder Elon Musk said. Palo Alto, California-based Tesla plans to compete with rivals such as BMW <BMWG.DE> and Daimler AG's <DAIGn.DE> Mercedes-Benz for a share of China's emerging green vehicle market, which the government wants to develop fast.

GM Korea to ship Trax SUV to U.S. market in early 2015

SEOUL, April 22 (Yonhap) -- GM Korea Co. plans to export its Trax crossover sport utility vehicle (SUV) to the United States in early 2015 to counter the carmaker's steady drop in exports, industry insiders said Tuesday. Automotive sources said the South Korean unit of U.S. carmaking giant General Motors Co. plans to ship the subcompact SUVs along with the Buick Encore luxury crossover.
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