The News Review:
- Ford sales jump rest of Canada auto sector slumps
- Lear Is Latest Auto Parts Supplier Headed For Bankruptcy
- Zurich Financial Closes AIG US Personal Auto Group Buy
Ford sales jump rest of Canada auto sector slumps
Reuters
N) of Canadawas the number one selling automaker in the country for thefirst time in 50 years as it posted a 25 percent jump in salesin June over a year earlier the company said on Thursday. verall auto sales in Canada fell by 13. 2 percent in Juneto 138500 units according to data from DesRosiers AutomotiveConsultants Inc. It was the eighth month in a row ofyear-over-year sales declines. Ford the only Detroit auto company not supported byemergency government funding sold 27408 vehicles in Canada inJune marking its first year-over-year sales increase of 2009and its eighth month in a row of market share gain. Ford Canada’s car sales dipped 1.
Lear Is Latest Auto Parts Supplier Headed For Bankruptcy
Wall Street Journal
(LEA) will become the eighth major auto-parts supplier to file for Chapter 11 protection since 2005 as the industry has struggled amid declining sales and high costs. Since one parts maker often supplies several car companies any trouble in shipping parts can lead to disruptions including the shutdown of auto plants. 2 supplier worldwide for automotive seating systems and among the top five for electrical distribution systems with net sales of $13. 6 billion last year.
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Zurich Financial Closes AIG US Personal Auto Group Buy
CNNMoney.com
VX) said Thursday its subsidiary Farmers Group Inc. has completed theacquisition of 100% of American International Group Inc’s (AIG) US Personal AutoGroup which includes “21st Century Insurance” (comprising the former “AIGDirect” and “21st Century Insurance”) as well as AIG’s “Agency Auto”. The transaction positions the Farmers Exchanges as the third largesttraditional direct writer of insurance in the US and the third largest USpersonal lines insurer overall. The purchase price amounts to approximately USD1. 9 billion of which USD1.