Canada sales stay strong
TORONTO - Canadian sales remained strong in October, ending the month up 9.6 percent over last year. A total of 116,490 light vehicles were sold, with trucks taking a 46.1 percent share.
Ford, General Motors and DaimlerChrysler continue to dominate with 53.2 percent of the market, although their share slipped. Japanese automakers now hold a 33.4 percent market share and European automakers 9.2 percent.
Korean manufacturers, with added sales from Daewoo and Kia, have captured 4.2 percent of the market.
GM dealers delivered 8.7 percent more vehicles for October, while Ford posted a slim 0.2 percent sales gain. DaimlerChrysler saw sales slide 6.6 percent despite continued strong demand for minivans.
DEALER SELLS BUILDING
TOKYO - Nissan Motor Co. Ltd.'s largest Japanese dealer is following the automaker's cost-cutting lead. Tokyo Nissan Auto Sales Co. will sell its head office building in the tony Roppongi district of Tokyo to Mori Building Co., a real estate concern. Nissan also has sold its headquarters building, but in a lease-back arrangement. Tokyo Nissan Auto Sales, owned 25 percent by Nissan and traded on the Tokyo Stock Exchange, will move its headquarters to a building it owns in the Nishi-Gotanda area of Tokyo. The sale price is set at ¥15.55 billion or $148 million at current exchange rates. The sale will yield a one-time extraordinary gain of $127 million.
RENAULT STRIKE ENDS
FLINS, France - Renault SA workers here have ended a strike that cut the factory's small-car production in half, La Tribune reported. Management agreed to pay the workers a 1,000 franc ($158) bonus, as well as half of the hours lost because of the walkout, the report said. Renault workers at two other French plants, in Cleon and Douai, walked off the job Thursday, Nov. 4, in protest over management plans to cut their bonus, the report said. Renault last week said it posted a 1.9 percent drop in third-quarter sales as it struggled with snags linked to a new just-in-time manufacturing system that's designed to get cars to customers more quickly.
RECORD KOREAN EXPORTS
SEOUL - South Korea's vehicle exports will exceed 1.5 million units this year, the best performance in the 23 years since the country's automakers began selling abroad, said Chung Duck Goo, minister of commerce, industry and energy.
Exports of cars, buses and other vehicles are expected to rise 10 percent from last year's 1.36 million vehicles. Rising vehicle exports are expected to help the country meet its 1999 trade surplus target of $25 billion. Korea exported 1.2 million vehicles in 1996, exceeding 1 million for the first time.