Feb. Sales: Chrysler, Japanese Strong
Japanese manufacturers continued to gain ground in February auto sales, despite a relatively strong showing by the Chrysler Group, which saw sales increase in what was basically a flat market.
General Motors and Ford reported
another decline for February while
"First quarter economic growth is proving quite robust," said Jim Press, Toyota Motor Sales president. "With showrooms awash in new products and the spring selling season upon us, the industry should be going strong in March."
Even smaller Japanese brands such as Suzuki, Mitsubishi, Mazda and Subaru watched sales rise in February. Korean automakers, however, reported essentially flat sales while European brands such as Audi, BMW, Mercedes-Benz and Porsche all posted modest increases.
Feb.
Sales: Chrysler, Japanese Strong by Joseph Szczesny (3/2/2006)
GM and
Ford slip slightly as sales stay flat.
Georgia Gets Kia Nod?
Since last year, Kia Motors, an affiliate of
If
GM,
The research consortium between GM and
Scott Fosgard, GM spokesman, said the change indicates that both companies are satisfied they can move from research into proprietary development of fuel cells that could be used in automobiles. One of the major advantages of fuel cells, which create electricity from a chemical reaction, is that they could help eliminate pollution from private automobiles, advocates of the technology suggest. GM is not backing away from its objective of producing by 2010 a commercially viable fuel cell that could be used in future vehicles, Fosgard added. GM's fuel-cell projects continue to make substantial progress on critical issues such as durability, energy density, and cost, he added.
GM and
Feb.
Sales: Chrysler, Japanese Strong by Joseph Szczesny (3/2/2006)
TH!NK Files for Bankruptcy
TH!NK Nordic AS, which was literally wheeled onto the world stage by former
Ford boss Jac Nasser, has now filed for bankruptcy and under the tough
bankruptcy laws that prevail in Western Europe faces almost certain
dissolution. Ford brought almost 300 TH!NK-built electric cars to the
For
Rethinks TH!NK Scrapping by Joseph Szczesny (9/20/2004)
Vehicles will
return to
Ford Expects More Losses
Ford expects its basic automotive business to lose money again in 2006 as it
struggles to trim costs. Ford disclosed the anticipated loss in a 10K
report it filed with the U.S. Securities Exchange Commission. Ford also said the
losses in the automotive business would not extend beyond 2008. In another
passage of the report, Ford cautioned that the bankruptcy of a major
competitor could create problems for Ford. Bankruptcy would give the unnamed
competitor an unfair cost advantage if its labor contracts were wiped out by the
bankruptcy judge. The cryptic comments were dropped into the middle of the
report and indicated Ford executives are concerned about the possible
consequences of a bankruptcy filing by General Motors Corp. However, Rick
Wagoner, GM's chief executive, has said several times that bankruptcy is not an
option for GM.
Ford also disclosed that it is considering a $1 billion charge
in connection with "The Way Forward" restructuring plan, which calls for
eliminating 30,000 jobs and closing 14 facilities by 2012 under the plan
outlined in January. As part of the restructuring, Ford plans to close
assembly three assembly plants in
Special Report: Ford's Way Forward by TCC Team (1/30/2006) ord slip slightly as sales stay flat.
Stern, Sirius Sued by CBS
Satellite radio's battles over talent heated up this week as CBS Radio announced that it has filed suit against Howard Stern, his company One Twelve, Inc., his agent Don Buchwald, his agent's firm Don Buchwald & Associates, Inc. and Sirius Satellite Radio, Inc. CBS says it wants compensatory and punitive damages to cover Stern's multiple breaches of contract, fraud, unjust enrichment, and misappropriation of CBS Radio's broadcast time. It further seeks damages from Sirius Satellite Radio, Inc. for unfair competition and tortious interference with Stern's CBS contract. CBS' complaint argues that Stern improperly used his old morning show on the CBS network to tout the fact he was planning to defect to Sirius. What apparently really incensed CBS is that Sirius actually paid Stern a bonus in the form of 34 million shares of stock valued at approximately $220 million, according to the complaint, after Sirius exceeded certain subscription targets set initially when they signed Howard. "All of Stern's actions for which he received this expedited compensation occurred during the time that Stern was under exclusive contract with CBS Radio, when the Sirius payment terms to Stern were kept secret," the complaint said. Didn't CBS brass notice that Stern was promoting his move to Sirius during his old morning show?-Joe Szczesny
Email This Page