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Opportunities abound at China's dealershipsChina's auto industry is no longer the Boomtown it once was. Sales growth, while still impressive, is moderating. Most major foreign automakers are already producing cars in China. Major foreign suppliers are here, as well. A new-business frontier still exists in China, however -- dealerships. [SUB] 8:27 am U.S. ET | May 16 |
CAW completes Detroit 3 contracts 4 months early
The Canadian Auto Workers pulled off a double-whammy deal today, reaching tentative agreements with General Motors and Chrysler LLC four months before each of the contracts with the two automakers and the union were to expire. The agreement preserves shifts and keeps open plants that the automakers had planned to close. The pact also offers buyouts for all union-represented GM workers at a Windsor, Ontario, transmission plant scheduled to close in 2010. [REG] 12:01 am U.S. ET | May 15 | UPDATED: 5/15/08 4:09 p.m. EDT
Porsche denies U.S. Cayenne productionPorsche says it does not need to build its Cayenne SUV in North America and has no plans to do so. Earlier this week, the German business newspaper Handelsblatt said the Cayenne could be built in a new U.S. factory planned by the Volkswagen group. [REG] May 15 11:41 CET |
GM reaches new contract at crossover plant in Mich.General Motors reached an agreement with one local union Thursday and avoided a threatened strike from another. GM spokesman Dan Flores confirmed a deal was reached at about 3 a.m. Thursday with UAW Local 602, which represents 3,300 workers at the Delta Township assembly plant near Lansing, Mich. The workers there have been on strike since April 17. [REG] 10:13 am U.S. ET | May 15 | UPDATED: 5/15/08 11:50 a.m. EDT |
Renault Sandero will be produced in RussiaRenault is to produce its low-cost Sandero vehicles in its Moscow factory, which is set to have its capacity doubled in 2009 to 160,000 vehicles a year. Sandero production will start at the end of 2009 at the Avtoframos site. [REG] May 15 12:20 CET |
Prius sales pass 1 million unit markCumulative sales of the Toyota Prius hybrid car just passed the 1 million unit mark. But growth is on course to be slowest in the car's biggest market, North America. Dealers there moved 66,100 of the vehicles from January through April. At that pace, Toyota will have sold some 198,300 by year end, up 7.9 percent from 2007. [REG] 10:19 am U.S. ET | May 15 |
CAW says Chrysler pledges production
Chrysler LLC has pledged to bring a new generation of passenger sedans to an Ontario assembly plant and keep open a casting plant near Toronto as part of a new contract agreement with the Canadian Auto Workers, union president Buzz Hargrove said on Thursday. [REG] 1:05 pm U.S. ET | May 15
CEO: Hungary's Raba sees 2008 revenue of $371M
Hungarian vehicle parts maker Raba expects revenue to rise to 60 billion forints ($370.7 million) in 2008 from 58 billion in 2007, Chairman and CEO Istvan Pinter told a news conference. Raba's core profit, or earnings before interest, taxes, depreciation and amortization (EBITDA), is seen rising to 5 billion forints from 3.7 billion, Pinter said today. [REG] May 15 14:00 CET
The twisted logic of the Yukon HybridI am the lone occupant of an elephantine GMC Yukon full-sized SUV, a $56,045 festival of body roll, leather seats and satellite radio roaring down the 405 Freeway at 80 mph-plus. Saudi oil sheiks are dancing jigs at my conspicuous consumption of their dinosaur juice Mark Rechtin is Los Angeles bureau chief for Automotive News. [SUB] 1:57 pm U.S. ET | May 15 |
Strong Russian, German and French sales boost FordA record month in Russia and strong sales in Germany and France and helped Ford of Europe increase sales by eight percent in April. The automaker achieved sales of 161,140 across Europe including Russia and Turkey during the month, up from 149,400 for the same month in 2007. [REG] May 15 21:31 CET |
Toyota: Prius hybrid sales hit 1M worldwideoyota said today that cumulative sales of its Prius hybrid car had topped 1 million units worldwide since its launch just over a decade ago. The Prius, the world's first mass-produced gasoline-electric hybrid car, first went on sale in Japan in late 1997 and in other markets in 2000. [REG] May 15 09:00 CET |
VW labor boss sees need for U.S. plantVolkswagen's senior labor leader gave his blessing to management plans for a possible new engine and transmission factory in North America to supply the carmaker's upcoming U.S. assembly plant. [REG] May 14 10:00 CET |
10-millionth Opel Astra produced todayThe ten-millionth Opel/Vauxhall Astra lower-medium car rolled off an assembly line in Germany today. The landmark model was a Silver Lightning Astra station wagon 1.7 CDTI. [REG] May 14 15:43 CET |
CAW nearing talks deadline with GM, Chrysler
The Canadian Auto Workers could abandon trying to get early contract deals with General Motors and Chrysler LLC if progress is not made in negotiations by this evening. The union set the deadline on Monday, saying that if headway on new three-year deals is not made, negotiations would be suspended until later in the summer, when the union will be in a position to set a strike deadline. [REG] 3:30 pm U.S. ET | May 14
