DAILY EDITION: June 20, 2002

June 20, 2002

Subscribe and get e-mail news FREE!

2004 Pontiac GTO

2004 Pontiac GTO

Enlarge Photo
GM says the GTO is headed for production in late 2003. The "Great One" will be built in conjunction with Australia's Holden for the 2004 model year, and will showcase a version of the Corvette's LS1 engine with more than 300 hp. Pontiac expects to get some 18,000 GTOs each year fo sale at between $30,000 and $35,000 apiece. The final production piece -- on which this drawing is based -- will be shown at the L.A. auto show in January.

J.D. Power’s preliminary numbers for June sales look good — if you’re an import brand. Power reported on Wednesday that June sales could hit an annualized rate of 17 million units, up strongly from May’s 15.6 million unit rate and near the June 2001 rate of 17.2 million units. Power says its data indicates European and Japanese brands could register big gains when sales numbers are final for the month — and Detroit may be looking at another down month. Power is keeping its estimates for 2002 total sales at 16.5 million units.
May Sales Slower All Around by Joseph Szczesny (6/10/2002)

Chrysler sources tell the Financial Times that development money for new vehicles has been cut to about $500 million each, the paper reported on Wednesday. The company, in the midst of a cost-cutting campaign of $12 billion, is said to be also reducing its number of platforms from 14 to nine by 2008, the daily says. Further cuts in the current five-year spending plan haven’t been ruled out either as the group tries to meet new federal safety and emissions targets on top of its restructuring goals. Chrysler Group CEO Dieter Zetsche has said the group would break even in 2002 and would turn in $2 billion in profit in 2003.

If you’re driving for the July 4th holiday you certainly won’t be alone, the American Automobile Association suggests. Some 32 million travelers are expected to go by car over the coming holiday weekend, a boost of almost 1.5 percent from 2001. The AAA qualifies the trips as more than 50 miles. While it expects air travel to drop slightly, the AAA says the total number of holiday travelers should rise about a percent.

2002 Ford King Ranch F-150 SuperCrew

2002 Ford King Ranch F-150 SuperCrew

Enlarge Photo
This year, like every other, the Blue Oval offers an almost staggering number of choices for the 2002 F-150 shopper, a wider variety of trim levels, bed lengths, interiors and drivetrains than ever before, reports Sue Mead in today’s edition of TheCarConnection.com. “But maybe this year’s most notable and most enjoyable version is the one created by Ford and the saddle makers at Texas’s historic King Ranch, to create the King Ranch SuperCrew, a limousine of a pickup truck if there ever were one.” Mosey on over to TCC to read more about the saddled-up Ford:
2002 Ford King Ranch F-150 by Sue Mead (6/17/2002)

TRW is selling its aeronautics division to Goodrich Inc. for $1.5 billion — but that doesn’t affect TRW’s own breakup plan or the interest of several suitors including Northrop Grumman, the company said very late Tuesday. TRW is selling off the division, which makes things like aircraft engines and flight controls, to reduce existing debt. However, the company also is dealing with a $6.7 billion takeover offer from aero contractor Northrop and other unnamed firms. TRW says Northrop is nearly finished examining its books.

The Car Connection
See the winners »
The Car Connection
Commenting is closed for this article
Ratings and Reviews
Rate and review your car for The Car Connection
Review your car
The Car Connection Daily Headlines
I agree to receive emails from the site. I can withdraw my consent at any time by unsubscribing.
Thank you! Please check your email for confirmation.