Nissan scraps forklift deal
TOKYO - Nissan Motor Co. canceled plans to sell its forklift division to Nacco Industries Inc. of the United States after talks between the two companies broke down.
The plan, announced last May, was one of the first in Nissan's plans to trim noncore operations and use the funds to pay off debt.
'It's a negative surprise,' said Takaki Nakanishi, Tokyo auto analyst for Merrill Lynch Japan Inc. 'We have some concern about the other plans. Can they be implemented on schedule or not?'
DETROIT - Delphi Automotive Systems Corp. has consolidated e-business activities into a new office that will review e-business initiatives and explore new applications. The focus will be on six areas: procurement, engineering, aftermarket, customer relationships, supply chain management and internal and external communications.
AUTOBYTEL REPORTS LOSS
LOS ANGELES - Autobytel.com Inc., the online buying service in Irvine, Calif., said it posted a loss of $4.9 million on sales of $12.4 million for the fourth quarter ended Dec. 31. That compares with a fourth quarter 1998 loss of $3.9 million on revenue of $7.3 million. For the year, Autobytel reported a loss of $23.3 million on total sales of $40.3 million.
AUTOWEB in the red
SANTA CLARA, Calif. - Online buying service Autoweb.com Inc. reported a loss of $8.4 million on revenue of $11.6 million in the fourth quarter ended Dec. 31. That compares with a loss of $6.3 million on sales of $4.8 million in the same year-earlier quarter. For all of 1999, Autoweb lost $18.2 million on total revenue of $32.8 million.