long bidding war for the new Kia plant is over - and
Since last year, Kia Motors, an
Kia and the state of
Kia is planning to boost North American sales from 350,000 units this year to 800,000 units a year by 2010.
Daily Edition: Feb. 27, 2006 by TCC Team
2007 Subaru B9 Tribeca Noses Ahead by Marty Padgett (2/9/2006)
Meanwhile, Honda Motor Co. may
also be looking to expand its production footprint. The Wall Street Journal reports that the
company is beginning talks that could bring the construction of Honda's first
new plant in
CAW Approves Camaro
Members of Canadian Auto Workers Local 222 in
The Camaro was one of the big favorites of
journalists and car buffs at the
North American International Auto Show in
With the feasibility study still in the works, GM negotiators recently settled in for eleven days of intense negotiations with CAW representatives from the Oshawa assembly complex where GM now has three assembly plants. CAW officials have said that the negotiations are a prelude to a decision on actually building the Camaro.
CAW Approves Camaro Changes
Plant rules will enable Canadian factories to build Zetas, including Camaro.
Suzuki Plots Future Without GM
For Suzuki, the decision by General Motors Corp. to
reduce its stake in the Japanese automaker could help it reassert its
independence without doing any damage to the company's operations in
Last week GM announced plans to sell off most of its stake in the Japanese automaker. GM's equity stake in Suzuki Motor Corp. drops from 20.4 percent to 3 percent. GM expects to get $2 billion and net between $550 million and $750 million from the sale, GM officials said. GM has invested about $1 billion in Suzuki since 1981, said GM spokeswoman Gina Proia.
Suzuki is a bit player in the
Going forward, the GM-Suzuki CAMI joint venture based in Ingersoll, Ont., will produce the new XL7 crossover, which is scheduled to make its debut at the next month's New York Auto Show and arrive at the company's dealerships next fall.
Suzuki Plots Future Without GM (3/12/2006)
Tiny automaker plans on big expansion abroad.
GM Adds to Tailgate Recall
General Motors will recall another 900,000 vehicles for problems with tailgate cables. The latest recall, the AP reports, is distinct from the one that resulted in a recall of about four million 2000-04 GM trucks and SUVs because of the different material found in tailgate cables. In both instances, the cables can corrode and break, leading to injuries. The new recall involves the 1999-2000 models of the Chevrolet Silverado and GMC Sierra full-size pickups. Some 84 injuries have been linked to the problem, but no accidents or deaths.
DC Ready to Move On Without Kopper
Hilmar Kopper is preparing to step down from his position as the non-executive chairman of DaimlerChrysler's supervisory board. Over the years, Kopper, a former chairman of Deutsche Bank and a close ally and staunch defender of former DaimlerChrysler chief executive Juergen Schrempp, has wielded considerable authority behind the scenes. He protected Schrempp from the wrath of shareholders and stock analysts alike. However, his influence had begun to wane even before the announcement in July of Schrempp's year-end retirement and now he's been ensnared into an investigation by German prosecutors, looking into allegations of insider trading.
Kopper's ties to Schrempp are also weighing on his chances of remaining as chairman of DaimlerChrysler. Dieter Zetsche, DaimlerChrysler's new chief executive officer, has been eager to leave the Schrempp era behind. The only question now is whether Kopper will retire after next month's annual shareholders meeting or whether he will wait and leave when his contract expires next year. The odds-on favorite to succeed Kopper as supervisory board chairman, according to the German press, is Manfred Bischoff, a former DaimlerChrysler executive who headed the company's aerospace unit Dasa and became one of the principal architects of the European space and defense group EADS. Daimler officials confirmed last week that Bischoff, 62, will be proposed for a seat on the supervisory board now held by Robert Lanigan when the company holds its annual general meeting next month. -Joe Szczesny
BMW Earnings Go Flat
BMW AG, considered one of the world's most successful automakers over the past decade, reported that its net profits for 2005 were flat, as adverse exchange rates and the rising costs of energy and materials such as steel undercut the company's earnings, despite record sales. It was only the second time since 1998 that BMW has not managed to improve its margin.
The German luxury automaker, which boasts one of the highest profit margins per unit in the industry, said it earned $2.67 billion last year, which was essentially same as the company's profit in 2004 and slightly better than analysts' estimates. In addition, the eight-percent decline in pre-tax profits was accounted for by the reduction of its interest in Rolls-Royce's aircraft engine business, the company said. Full-year revenue rose 5.2 percent to a record $55.6 billion, from $52.7 billion.
Helmut Panke, BMW chairman, said booming sales of its BMW, MINI, and Rolls-Royce brands, as well as unspecified cost-cutting measures, had helped it meet its own full-year targets. The changes to BMW's 3-Series were particularly helpful, he said.
the value of the dollar has stabilized in recent months, the decline in the
dollar's value in late 2004 and early 2005 hurt BMW because it exports key
models such as its revamped 3-Series to the
Panke also said BMW expects to remain to set another record in 2006. "The BMW Group is currently the premium manufacturer with the highest sales volume in the world and is also ahead of almost all of its direct competitors in terms of profitability," Panke said. Analysts, however, noted that over the next year BMW also is facing new competition from Mercedes-Benz, which is launching several new models as part of an ambitious turnaround effort, and Lexus, which is expanding into new markets this year. -Joe Szczesny
Wagoner to Visit
General Motors Chief
Executive Richard Wagoner is to visit
low-profile visit, Wagoner is to visit GM Daewoo's Bupyong plant near
Although he had met
with reporters during his last visit in June 2004, Wagoner doesn't have plans to
meet with the press this time in
Sales in 2005 of 3.1 million
vehicles (mostly cars) vaulted
This year, 25 new models will be introduced to the Chinese market, adding to just as many entry-level compacts already on sale. A Business Week report (March 20) comments that "with so many first-time buyers, there's little brand awareness and almost no brand loyalty. The Chinese often spend more than a year's income for even a low-end car, and 89 percent pay in cash."
GM became the top-selling
FROM THE SOURCE headlines from the latest press releases
Toyota Motor Sales (TMS), U.S.A., Inc., announced
manufacturer's suggested retail prices (MSRP) today
for the 2006 Darrell Waltrip Edition Tundra.
The Darrell Waltrip Edition Tundra is based on Tundra 4x2 and 4x4 SR5
V8 Double Cab grades. All Darrell Waltrip
Edition Tundras will feature unique exterior
and interior enhancements and will be available in two exterior colors, Spectra Blue Mica and Silver Sky
Metallic. NASCAR Winston Cup fans will enjoy
this Tundra's unique 18-inch TRD alloy wheels,
unique mesh grille with color-keyed surround, TRD dual exhaust system, and Darrell Waltrip Signature badging and body-side
graphics. Inside, passengers will appreciate
the light charcoal cloth interior and Darrell
Waltrip Signature floormats. Only 2000
units of this Special Edition Tundra will be built. 4x2 models will carry a base MSRP of $29,615. The 4x4 model
will begin at $32,950. Darrell Waltrip Edition
Tundras are currently available at
Change Autobytel, Inc.
American Axle & Mfr. Holdings Inc.
Ballard Power Systems Inc.
DaimlerChrysler AG (ADR)
Dura Automotive Systems
Ford Motor Company
General Motors Corporation
Goodyear Tire & Rubber
Honda Motor Co. Ltd. (ADR)
Johnson Controls Inc.
Magna International Inc.
Nissan Motor Co. Ltd. (ADR)
Sonic Automotive Inc.
Sirius Satellite Radio
Toyota Motor Corporation (ADR)
TRW Automotive Holdings
Tower Automotive Inc.
United Auto Group Inc.
XM Satellite Radio Hold.