Automakers & Suppliers
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Executives
| Luxury car veteran named CEO of Maserati North America >> |
| Nissan names new head of communications >> |
Manufacturing
| A soar spot: Pump prices up 40 cents since April >> |
| Fiat eyes Mexico to serve North and South America >> |
| Metaldyne closes 2 factories and an office >> |
Design
| Some Chinese still follow the leaders >> |
Future Products
| Outside forces direct Europe's future car lines >> |
Green Cars
Technology
| Noble nearly doubles Q1 revenue, still has net loss >> |
| Manufacturing technology group names new president >> |
Cutaways
Nanjing UK gets new head for production startHe Xiao Qing is the new chairman of Nanjing Automobile Corp.'s UK business. [REG] May 9 14:23 CET |
Delphi's tab for failed investment plan: $79 million
Troubled supplier Delphi Corp. said today that it lost $589 million in the first quarter on revenue of $5.25 billion. That compares with a net loss of $533 million on revenue of $5.68 billion during the same period a year ago. In a statement, Delphi said it took a charge of $79 million for writing off expenses stemming from the failed plan to bring the company out of bankruptcy with investor Appaloosa Management LP. [REG] 2:31 pm U.S. ET | May 9
Fiat eyes Mexico to serve North and South America
TURIN -- Fiat is eyeing Mexico as the location for a plant that would supply vehicles to both North and South America, people familiar to the matter told Automotive News Europe this week. To cope with the weak dollar, Fiat needs production in North America after its Alfa Romeo brand returns in the U.S. in late 2009. [REG] 12:01 am U.S. ET | May 9
Metaldyne closes 2 factories and an office
DETROIT -- Automotive supplier Metaldyne Corp. said today that it closed two U.S. manufacturing plants and an office in suburban Detroit. The supplier of metal-formed engine, chassis and transmission components and assemblies said it completed the closing of its plants in Greenville, N.C., and the Detroit suburb of Farmington Hills, Mich. Both were part of Metaldyne's North American Chassis Group, which machines metal suspension components. [REG] 2:18 pm U.S. ET | May 9
Nissan to outsource sales setup in IndiaJapan's Nissan Motor said today it had appointed Hover Automotive India Private to develop its sales network in India, with the aim of establishing 55 dealers by 2012 to sell more than 100,000 vehicles that year. Japan's third-biggest automaker, held 44 percent by Renault, currently has just five sales outlets in India. [REG] May 9 07:10 CET |
The long and winding road to premiumMany volume carmakers are keen to earn premium status for their brand. The logic is clear: A strong image, backed-up by rich equipment and high performance makes a model more attractive. It can then command a higher price, which means more money for the dealer and the car company. [REG] May 9 12:08 CET |
GM offers American Axle $200 million to end strikeDETROIT -- General Motors has agreed to pay $200 million to help with employee buyouts and “buy-downs” to help resolve a crippling strike at American Axle & Manufacturing Holdings Inc. In a regulatory filing today, GM said the agreement is “predicated upon an expedited resolution to the ongoing strike called by the International UAW against American Axle.” About 3,650 workers at five American Axle plants have been on strike since Feb. 26. [REG] 3:15 pm U.S. ET | May 8 | UPDATED: 5/8/08 4:12 p.m. EDT |
Mulally: Ford's 2007 'accomplishments validate our plan'WILMINGTON, Del. -- Even though Ford Motor Co.'s newest big investor is known for meddling in the auto industry, company leaders reassured shareholders today that they are sticking with their turnaround plan. That plan is working and producing measurable improvements despite the fragile U.S. economy and challenging industry outlook, Executive Chairman Bill Ford and CEO Alan Mulally said at Ford Motor's annual meeting. [REG] 1:46 pm U.S. ET | May 8 |
Toyota feels bite of U.S. downturnToyota Motor Corp. racked up record results for the just-ended fiscal year. But the good news ends there. Now the world's biggest, most profitable car company is warning that earnings for the current year are poised to fall for the first time in nearly a decade. What's more, Toyota backed off its optimistic outlook for a 2008 sales increase in North America. CEO Katsuaki Watanabe said today his company's volume is likely to decline instead. [REG] 2:10 am U.S. ET | May 8 | UPDATED: 5/8/08 8:10 a.m. EDT |
Hundreds of BMW staff take buyoutsBMW, the world's largest premium carmaker, said several hundred permanent staff had agreed to redundancy packages as it seeks to cut thousands of jobs to improve profitability. BMW also reaffirmed its forecasts for the full year, which include record sales volumes for all three brands. [REG] May 8 13:21 CET |
Change of plan: No Kia or Hyundai pickup for U.S.
Neither Hyundai nor Kia will sell a pickup in the United States in the near future. Hyundai Motor Co. CEO Kim Dong-Jin said the board in “a recent decision” scrapped plans for a unibody pickup in the United States. Kim said the original plan was to build a mid-sized truck for Kia and Hyundai at Kia's new plant in West Point, Ga. “But we are forced to give up production of the pickup at the North America plant,” he said. [REG] 9:49 am U.S. ET | May 8
Lexus tops J.D. Power ranking in UKLexus is the UK's leader in customer satisfaction, according to consultancy J.D. Power. [REG] May 8 15:55 CET |
Daimler will open office in Iraq this yearDaimler will open an office in Baghdad by the end of the year. Ursula Mertzig-Stein, a Daimler spokeswoman, said the company sees strong potential in the country for its truck division. “We think the greatest demand will be for our commercial vehicles there,” Mertzig-Stein said. She declined to give further details. [REG] May 8 12:09 CET |
Bosch worries about 2009 after U.S. consumer slump
U.S. consumers worried about a recession will take a painful toll this year on Bosch Group, a German manufacturer of a wide range of items from car parts to washing machines and power tools. "The absolute slump in the consumer climate indicates that the second quarter in the U.S. will indeed be very weak," CEO Franz Fehrenbach told its annual news conference on Thursday. [REG] 9:45 am U.S. ET | May 8
