BUSH PROPOSES HYBRID CREDIT
Honda Bets on Hybrids by Frank Bohanan (1/28/2002)
SATURN TO BOOST SALES 25 PERCENT
GM’s youngest brand hopes to boost its sales by 25 percent thanks to the introduction of new models, says Saturn brand chief Jill Lajdziak. The Wall Street Journal quotes Lajdziak on brand’s sales troubles, which she hopes will turn around with the introduction of the VUE sport-utility vehicle and ION compact cars, as well as a facelifted version of the L-Series cars. Last week, Saturn canned Hal Riney and named Goodby Silverstein Mathers as its new ad house in anticipation of the launch of the ION.
CHICAGO SHOW TOMORROW; SATURN SKY NOW
2002 Saturn Sky concept convertible
Preview: GM's '02 Concepts by TCC Team (8/20/2001)
SPY SHOTS: ’04 FORD FUSION
Ford Fusion Concept Frankfurt 2001
Spy Shots: ’04 Ford Fusion (2/4/2002)
REUTERS: DAIMLER CUTTING DIVIDEND
DaimlerChrysler AG is expected to cut its dividend roughly in half this week when it announces its 2001 earnings on Wednesday, the Reuters news service reports. The dividend slice is expected to net shareholders $1.38 a share, according to a poll of ten analysts. A company source told Reuters that it’s “very likely” that the company would cut its dividend; continued difficulties at the Chrysler Group are one of the root causes for the reduction. The company still expects to post an operating profit of about $1 billion for 2001.
DEUTSCHE WANTS OUT OF DAIMLER?
Deutsche Bank AG, a major shareholder in DaimlerChrysler, says it wishes to sell its interest in the company — but not at currently depressed share prices. The bank, the AP reports, is looking to take advantage of a new German law that drops capital-gains taxes on sales of industrial holdings. Bank officials say they will wait until the share prices recover — DCX is currently trading around $38, down from the 52-week high of nearly $53 — before any sale takes place.
VISTEON SELLING RESTRAINTS
Visteon, the former Ford captive supplier, says it will sell its safety-restraint business in North America and Europe to Swedish supplier Autoliv. The company didn’t disclose a transaction price, but says that it will focus on other areas of specialty. As a result, Visteon will close its facility in Markham, Ont., and move some non-restraint business to other facilities.
TODAY’S AUTO FACT
The older a used vehicle is, the less likely it is to be purchased through a new-vehicle dealer. While 79 percent of one year-old vehicles are purchased through a new-vehicle dealer, only 46 percent of five-year-old vehicles are purchased through this distribution channel. Those who benefit from this are used-vehicle dealers and private party sellers. The chance that a used vehicle will be sold through either of these distribution channels increases as the vehicle ages.
Source: J.D. Power and Associates
FROM THE SOURCE
Soon after the tragedies of September 11, an anonymous Internet e-mail began circulating that inaccurately claimed thatHonda, and several other foreign-owned auto companies, had contributed nothing to aid the victims of these attacks. This e-mail is an unfortunate hoax. Most recently, CNN Headline News has been cited as the source for this false information. Media outlets in Ohio, South Carolina, and Potentially elsewhere, have reported this story, citing CNN as the source for this information. CNN Headline News has no record of any such story. Honda and its associates around the country quickly and generously responded to the events of September 11. Honda immediately delivered all-terrain vehicles to the FDNY and the New Jersey Police Association for use in recovery and relief efforts at Ground Zero. Honda also provided water pumps, generators and light kits for use by the FDNY for recovery and repair efforts. This equipment is still in use today at Ground Zero.
In addition to the new Fall 2002 Collections shown duringMercedes-Benz Fashion Week, title sponsor Mercedes-Benz will help launch a special program to benefit the Elizabeth Glaser Pediatric AIDS Foundation (EGPAF). Mercedes-Benz will also debut its all-new 2003 SL coupe/roadster during the weeklong event, February 8 - 15, 2002.
Payless Car Sales, Inc., a recently formed subsidiary of Avalon Global Group, Inc. and a sister company of Payless Car Rental System, has created a new franchise program for independent used car dealers. As a unique component of the program, Payless will provide independent dealers its nationwide brand image while encouraging them to maintain and build upon pre-existing dealer identity and consumer goodwill in their local markets.
|AMER AXLE & MANU||AXL||25.90||+0.10|
|BALLARD PWR SYS||BLDP||31.35||-1.62|
|DELPHI AUTO SYS||DPH||14.13||+0.03|
|FORD MOTOR CO||F||14.63||-0.27|
|HONDA MOTOR CO||HMC||19.95||-0.13|
|UNIT AUTO GRP||UAG||24.00||-1.42|