Auto show in Detroit will start later in '00
DETROIT - Bowing to criticism from industry executives and journalists, organizers of the North American International Auto Show have scheduled next year's event a week later than usual. Press days will begin Jan. 9, and the annual charity preview ball will be Jan. 14.
The Detroit Automobile Dealers Association originally planned to launch press previews Jan. 2, but the prospect of having to travel on New Year's Day raised howls of protest from auto executives and journalists around the world.
NEW YORK - Delphi Automotive Systems has earned an 'investment grade' credit rating from Standard and Poor's, which will make it easier for the company to borrow money.
Last week Delphi CFO Alan Dawes confirmed the new rating after Delphi's successful sale of 100 million shares of stock. (See story, Page 8.) Later this year, Delphi will start to refinance up to $2 billion in short-term bank loans with less costly long-term debt.
FORD STRIKE ENDS
SAO BERNARDO, Brazil - Ford Motor Co. said it will resume production this week at its biggest assembly line in Brazil, following an agreement with unions to end a five-week protest over job cuts.
According to Bloomberg News Service, Ford said up to 700 workers agreed to resign as part of a deal to end the strike. Ford wants to eliminate up to 2,800 jobs at its Sao Bernardo plant after 1998 sales dropped more than 30 percent.
$43,080 FOR S-TYPE
MAHWAH, N.J. - The Jaguar S-Type sedan will go on sale in May and start at $43,080.
That is the base price for S-Types with a 3.0-liter, V-6 engine. Those with the 4.0-liter V-8 will start at $48,580. All prices include a $580 destination charge.
Deliveries to U.S. dealers are expected to begin in late April. Jaguar North America expects to sell about 20,000 of the British-built S-Types in North America in the first full year of production.