TCC's Daily Edition: 9/25/01

September 25, 2001

DAIMLERCHRYSLER CONSOLIDATING DEALERS
As all facets of the automotive industry move deeper into an era of cost-cutting and consolidation, DaimlerChrysler’s Chrysler Group is lifting its long-standing dictum that no single dealer could sell Chrysler, Dodge and Jeep products all at the same dealership. In order to qualify for this allowance, dealers will have to agree to sell only Chrysler products at the dealership. Chrysler reasons that nationwide, its retailers currently selling Chrysler-Jeep or Dodge vehicles exclusively do significantly better than those who also carry non-Chrysler brands on their lots. The plan is to have the first combined Chrysler-Dodge-Jeep stores open before the end of this year.
Keep American Rolling: Time to Buy? by Marty Padgett (9/24/2001)

 

TRANSPORTATION SECRETARY GIVES SAFETY RESULTS FOR 2000
U.S. Transportation Secretary Norman Mineta released highway fatality figures for 2000, and the numbers are revealing. First the good news: Fatal accidents involving children up to 15 years old declined to their lowest level since the National Highway Traffic Safety Administration (NHTSA) began keeping tabs on them in 1975. Now the bad news: Alcohol-related deaths and motorcycle deaths both rose in 2000. Alcohol was involved in 40 percent of the highway fatalities from last year, while motorcycle deaths took a 15.3-percent jump, according to NHTSA.
Recall, Rollover and Safety Info by TCC Team (9/24/2001)

 

VW, FIAT SLOWING PRODUCTION IN BRAZIL
Germany’s Volkswagen AG and Italy’s Fiat S.p.A., the two best-selling automakers in Brazil, are temporarily idling some of their production lines in the South American country. Citing a slowdown in sales amid Brazil's power rationing, weak currency and high interest rates over the summer, VW said it is sending workers home from its Sao Paolo plant for at least 10 days, while Fiat is conducting a shutdown of its factory in Minas Gerais state all this week. Shutdowns like these also occurred in Brazil during July and August. The country represents about half of all vehicle sales in South America.

 

NISSAN TO SELL RENAULT VANS IN EUROPE
Nissan’s close ties to its recent economic benefactor, Renault, is showing in Europe. The Japanese automaker has announced that it will be badging two of the French automaker’s commercial vans as replacements for current Nissan vans in Europe. The small Renault Kangoo and large Master models are expected to appear in Europe as Nissan models before the end of next year. In return for the vans, Nissan will likely deliver some of its most successful products to the Renault stables for a little rebadging: sport-utility vehicles.

 

JEEP GRAND CHEROKEES COMING OFF THE LINE IN CHINA
Slowly, but surely, the rest of world is coming to China. The most recent evidence of progress is the recent joint venture between DaimlerChrysler and the Beijing Automotive Industry Group. The partnership goes by the name "Beijing Jeep," and has started producing Jeep Grand Cherokee models at a factory in the People’s Republic of China. To get the plant up and running, the partnership brought in new assembly and welding lines, test equipment, and other production equipment. Beijing Jeep currently runs sales and service outlets in 11 provinces in China, with plans to expand coverage to 12 more provinces in the future.
WJR Auto Report: 6/20/01 by TCC Team (6/21/2001)

 

PARTNERSHIP LAYS PLANS TO PROMOTE AUTOMOTIVE HISTORY
Michigan’s Automobile National Heritage Area consortium has put together a report proposing a $60-million, 10-year plan to promote the rich automotive history that inhabits southeastern Michigan. The consortium was formed in 1998—founding members include General Motors Corporation, Ford Motor Company, DaimlerChrysler AG and the UAW. Its report has identified 100 sites of historical significance and six potential tourism corridors in the area. The group will present its full report to the U.S. Department of the Interior on November 6th. DOI approval is the first, crucial step to getting grants and other forms of funding for the project.

 

 

FACTOIDS:
Survey Shows the Net Is Still Good For Net Profits
While the dot.com bubble may have burst, the need to continually implement and evolve e-business networks is as important as ever. A recent survey, "E-readiness of the Automotive Supply Chain," by the Center for Automotive Research (www.erim.org/car) shows that first tier suppliers are looking at full implementation of e-business applications pulling engineering and product design costs down 18 percent, procurement expenditures down 16 percent, and quality assurance program costs by 19 percent.

FROM THE SOURCE:

From PR Newswire Delphi Automotive Systems has announced its exit from two ventures in China with total consolidated sales of approximately $14.2 million. The businesses produced automotive suspension and steering components . . . Exide Technologies and Siemens VDO Automotive AG have entered into a collaborative agreement to develop automotive energy-management systems for 42-volt automotive electrical and electronic architectures for the global OEM market. This collaboration marks a significant step toward enabling a technology projected to improve the fuel economy of a midsize car by 15 percent . . . The Society of Automotive Engineers’ 19th Annual Brake Colloquium & Exhibition has confirmed that its meeting will take place as scheduled October 28-31 in New Orleans . . . Titan Wheel Corporation of Illinois has received confirmation of its largest military contract ever, a deal with the U.S. Army that could be worth upwards of $45 million

THE TICKER:

Autoliv (ALV), Closed 14.93, up 1.03

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ArvinMeritor (ARM), Closed 13.75, up 1.05

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American Axle (AXL), Closed 11.79, up 1.49

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Ballard Power Systems (BLDP), Closed 21.76, up 3.21

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Dana (DCN), Closed 15.24, up 1.69

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DaimlerChrysler (DCX), Closed 29.40, up 1.20

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Donnelly (DON), Closed 13.70, down 0.05

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Delphi Automotive (DPH), Closed 11.00, up 0.70

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Eaton (ETN), Closed 60.13, up 2.55

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Ford (F), Closed 16.43, up 1.09

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General Motors (GM), Closed 43.23, up 2.98

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Gentex (GNTX), Closed 23.59, up 2.79

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Goodyear (GT), Closed 18.30, up 0.58

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Johnson Controls (JCI), Closed 60.48, up 1.53

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Lear (LEA), Closed 25.99, up 1.57

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Magna International (MGA), Closed 49.81, up 2.01

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Nissan (NSANY), Closed 7.90, up 0.67

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Toyota (TM), Closed 50.25, up 3.25

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TRW (TRW), Closed 30.02, up 2.01

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Visteon (VC), Closed 12.57, up 1.58

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