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BMW to help Alfa Romeo in North America
Fiat said today that BMW will provide support in launching Alfa Romeo in North America. “Mini U.S. dealers would have the possibility to also sell Alfa Romeo cars,” a Fiat spokesman told Automotive News Europe today. Fiat and BMW issued a joint press release announcing that they have signed an agreement for possible co-operation on components and architectures for their Mini and Alfa Romeo... [REG] 11:54 am U.S. ET | July 8
BMW not planning to hike Mini outputThere is no relief in sight for Mini dealers who are short on inventory. Despite high demand and record sales for the small, fuel-saving hatchback, BMW is unlikely to approve an increase in production for the United States in the near term, said Tom Kowaleski, BMW's North American vice president of corporate communications. Demand for the stylish subcompact has risen this year with the price of... [REG] 3:35 pm U.S. ET | July 8 |
Suzuki cuts U.S. work force 8%American Suzuki Motor Corp. has reduced its U.S. work force by about 8 percent at company headquarters in suburban Los Angeles and in the regions. Spokesman Jeff Holland says 20 of the 600 U.S. employees took buyouts or early retirements. An additional 30 jobs were eliminated after the company did not meet its voluntary-buyout numbers. [REG] 3:25 pm U.S. ET | July 8 |
Toyota boosts Tacoma production in MexicoEven with truck sales plummeting, Toyota Motor Corp. is increasing Tacoma pickup output in Tijuana, Baja California -- its sole assembly plant in Mexico. The factory will build 50,000 Tacomas this year, up from 32,249 in 2007, Adolfo Hegewisch, managing director of Toyota Motor Sales de Mexico, said in an interview on Thursday, July 3. [REG] 2:10 pm U.S. ET | July 8 |
GM, Ford see strong sales growth in China
General Motors and Ford Motor Co. reported strong first-half growth in China, the world's No.2 car market that is seeing another boom year. GM posted a 12.7 percent gain in first-half 2008 China sales while Ford sold 21 percent more vehicles over the same period. [REG] 12:30 pm U.S. ET | July 8
PPG sells auto glass business to private-equity firm
PPG Industries Inc. has sold a controlling interest in its automotive glass business to private-equity firm Kohlberg & Co. LLC. The deal is valued at $330 million. Kohlberg, of Mount Kisco, N.Y., will form a new company to run the glass business, and PPG will retain a 40 percent interest in that company, whose name is expected to be announced in 30 days. [REG] 12:34 pm U.S. ET | July 8
Tesla hires Chrysler manufacturing veteran DonougheIn a sign of its ambitions to build high-volume electric vehicles, Tesla Motors Inc. has hired 26-year Chrysler veteran Mike Donoughe to head the company's manufacturing, supply chain and operations. Tesla, headquartered outside San Francisco in the Silicon Valley, is building an all-electric high-end roadster that retails for $109,000. [REG] 3:01 pm U.S. ET | July 8 |
Mexico plays key role in Ford manufacturing plansMEXICO CITY -- Mexico will play a more prominent role in Ford Motor Co.'s manufacturing strategy in the coming years, a top Ford executive says. “Ford believes in Mexico. We also believe Mexico has a bright future and could become the world's leading automotive producer,” Ford of Mexico CEO Louise Goeser said in a speech here Monday, July 7. [REG] 1:27 pm U.S. ET | July 8 |
Mazda confident it will reach U.S. sales goals
Mazda Motor Corp. is confident it will achieve its U.S. sales target of 290,000 vehicles in the business year ending in March despite a sharp downturn in that market, a top executive said on Tuesday. Daniel Morris, senior managing executive officer in charge of sales and marketing at Mazda, said despite a double-digit fall in the overall U.S. market so far this year the automaker had achieved a... [REG] 1:00 am U.S. ET | July 8
Honda will unveil sports car at London showHonda will unveil a lightweight sports car concept at the London auto show on July 22. The two-seat concept is called the OSM. The concept is designed to be fuel-efficient and low in CO2 emissions. OSM stands for Open Study Model. [REG] 9:17 am U.S. ET | July 8 |
GM developing plans to cut costs, save cashGeneral Motors is developing plans to cut costs and improve its "cash and funding position," CEO Rick Wagoner said in an e-mail to the automaker's managers and team leaders. The message was sent to managers on June 27 but did not widely circulate until this week because it corresponded with the automaker's traditional early July break in operations. [REG] 10:00 am U.S. ET | July 8 | UPDATED: 7/8/08 12:20 p.m. EDT |
GM to build biggest rooftop solar station
General Motors will announce it will build the world's largest rooftop solar power station at its biggest factory in Europe, the Financial Times reported. Its factory in Zaragoza, northern Spain, will be clad in 183,000 square meters of solar panels. [REG] 4:54 am U.S. ET | July 8
GM denies any more brands under reviewA General Motors spokesman today denied the automaker is reviewing any more brands besides Hummer for possible sale. The Wall Street Journal, citing people familiar with the matter, reported today that GM could shed thousands of white-collar jobs and sell or cease producing certain brands as part of a strategy reevaluation. [REG] 1:15 am U.S. ET | July 7 | UPDATED: 0/07/08 12:33 p.m. EDT |
Alabama could get new VW assembly plantVW's board will discuss the carmaker's planned new North American factory Tuesday, July 8. Alabama appears to be the favored location for the plant. VW is considering opening a U.S. plant to help reach its ambition of more than tripling its annual U.S. sales by 2018 to 1 million, including 800,000 VW brand and 200,000 Audi sales. [REG] 8:43 am U.S. ET | July 7 |
Chrysler idles Ram production in Mexico
Chrysler LLC has stopped producing Dodge Ram pickup trucks at its assembly plant in Saltillo, Mexico, for the second time this summer, a company spokesman said today. Manuel Duarte, corporate communications director for Chrysler in Mexico, told Automotive News the plant will be closed for the month. Production at the same factory was down June 9-23. [REG] 4:07 pm U.S. ET | July 7
GM readies Volt unveiling to shift focus from crisisGeneral Motors is rushing to finish the production version of its Chevy Volt and plans to unveil a showroom-ready model of the heavily touted electric car in September, people familiar with the project say. Battered by a deepening slump in sales and concerns about whether it can ride out the downturn, GM is counting on the Volt to break its costly association with high-mpg vehicles at a time when... [REG] 3:15 pm U.S. ET | July 7 |
Strikes cost Hyundai 2,000 vehicles
Strikes last week cost Hyundai Motor Co. an estimated 30 billion won ($28 million at current exchange rates) and 2,000 vehicles. Affiliate Kia Motors Corp. lost an estimated $11 million and 900 units. Their unions, which are separate, took part in strikes against the South Korean government's deal to resume imports of American beef. [REG] 9:01 am U.S. ET | July 7 | UPDATED: 7/7/08 10:30 a.m. EDT
VW on track for production record in Mexico
Volkswagen AG assembled 222,451 vehicles at its plant in Puebla, Mexico, in the first six months, 25.7 percent more than in the first half of 2007. Of the total, 187,276 units, or 84 percent, were exported. That is 20 percent more than in the same period of 2007, when 144,185 vehicles were exported. [REG] 4:17 pm U.S. ET | July 7
Toyota to add solar panels to some Prius hybridsToyota Motor Corp. plans to install solar panels on some Prius hybrids in its next remodeling, responding to growing demand for "green" cars amid record-high oil prices, a source briefed on the matter said on Monday. The panels, supplied by Kyocera Corp., would be able to power part of the air-conditioning on high-end versions of the gasoline-electric Prius, the source said. [REG] 3:30 am U.S. ET | July 7 |
Report: China's Chery considering bid for Volvo
China's rapidly expanding Chery auto group is considering a bid to buy Swedish-based Volvo from Ford Motor Co., state media said on Monday. The Caijing business magazine quoted sources as saying that Chery has not yet reached any agreement or applied for permission from the government of Anhui, the company's home province. [REG] 5:00 am U.S. ET | July 7
Analyst: GM could tap UAW benefits fund
The UAW's retiree health care fund is starting to look like a tempting piggy bank for General Motors, which could suffer a cash-flow crisis unless it finds a source of funds. Last week, JPMorgan analyst Himanshu Patel said GM could raise as much as $6 billion by withdrawing money from a restricted retiree health care fund that it had earmarked for a UAW-run voluntary employee beneficiary... [SUB] 12:01 am U.S. ET | July 7
Amid sale rumors, Volvo has upmarket plansAmid media speculation about an upcoming change in ownership, Volvo Cars is continuing with plans to move its brand upmarket. "We want to continue to compete with Mercedes, BMW and Audi," said Steven Armstrong, Volvo's COO. "We're working to improve the premium-ness of the brand and our products." [SUB] 12:01 am U.S. ET | July 7 |
Japan's new diet plan: Slim down, ounce by ounceCall it the Japan weight loss plan. Japanese automakers are determined to trim the fat, an ounce at a time. Honda, Nissan, Toyota and Mazda are making lighter cars a top priority as they scramble to boost fuel economy and cut carbon emissions. [SUB] 12:01 am U.S. ET | July 7 |
Fiat CEO Marchionne is Industry Leader of YearWhen Sergio Marchionne became CEO of Fiat group in June 2004, its automaking division was losing about $3.7 million a day. Fiat Auto's market share in western Europe was plummeting. Financial analysts speculated about which rival would buy the Italian automaker. Today, Fiat Auto is profitable.That turnaround has made Marchionne Automotive News' Industry Leader of the Year for 2008. [SUB] 12:01 am U.S. ET | July 7 |
