TCC'S DAILY EDITION: May 23, 2003
Next Caddy CTSv To Nudge 500 HP
While the new, 400-hp Cadillac CTSv sedan is still a half-year away from market, the resurgent General Motors division is already aiming its sights even higher as part of a planned mid-cycle update. The ’04 CTSv will debut with the 5.7-liter LS6 under the hood, a version of the big V-8 currently powering the Chevrolet Corvette. In 2006, several sources tell TheCarConnection.com, an upgraded LS6 will grow to 6.0-liters displacement. And as for horsepower? “We haven’t determined where that would take us yet,” said one well-placed source. But Caddy knows where it needs to go if it sticks with plans to make the CTSv a credible contender to the likes of BMW’s vaunted M models and the likes of Mercedes’ AMG lineup. Where 400 ponies was long an industry target, 500 hp is the new benchmark. Well-placed sources expect a limited-edition version of the next Corvette, dubbed C6, to nudge past that magic number, and the CTSv is likely to follow close behind. For ’06, both the base CTS and the V-Series version will get new, more lavish interiors. And Cadillac will add its computer-controlled MagneRide suspension, at least on the CTSv. Like all perform plans, insiders caution, future fuel-economy regulations could lead to a change in plans. —TCC Team
GM “Sleeps On It” To Improve Image by James Amend (5/19/2003)
Will prospective owners still respect GM cars if they stay the night?
Ford: Takeover Certain Without Family
Without the Ford family presence, Ford Motor Company would have been a takeover target during the last 18 months, company chairman William Clay Ford Jr. told the Detroit News
this week. The company’s problems, Ford says, were attracting potential investors by dint of its extremely low stock price, which fell below $7 a share at one point. The family’s ownership stake, set up in 1956, effectively blocks hostile takeovers, the paper quotes Ford; “And given where our stock price has been in the past 18 months, it’s a high likelihood that that would have happened,” Ford told the News.
Ford and other descendants of Henry Ford share a 40-percent voting stake in Ford Motor Company, held in a special Class B set of shares. Ford’s market value is hovering under $18 billion, and with its cash on hand of about $26 billion, “we clearly would have been a takeover target,” Ford added.
Shrinking Dollar Helping Detroit by Joseph Szczesny (5/19/2003)
But which companies will benefit from the rising euro?
DaimlerChrysler: Windsor Plant Deal Off
DaimlerChrysler has informed the Canadian government that it will not build a new assembly plant, complete with supplier park, in the city of Windsor, Ontario. Chrysler Group has cancelled plans for the new plant because of its softening profit picture, due mostly to incentive and rebate spending in North America. Many analysts had expected that the company would build a small pickup truck patterned after its M80 concept at the plant and distribute it through the Dodge and possibly Mitsubishi brands. Chrysler Group CEO Dieter Zetsche also cited the overcapacity problem in North America as a reason for pulling the plug on the project, which had been planned to open in 2005.
DC Commits to One, Maybe Two Plants by Joseph Szczesny (10/21/2002)
What’s really going on in Windsor and Savannah? Only DaimlerChrysler officials really know.