June 22, 2009
J.D. Power 2009 90-Day Ownership Satisfaction Results
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- Posted by: Richard Saxton June 22, 2009, 11:19 AM
- Categories: Auto Industry News
June 22, 2009
Lexus leads the overall nameplate rankings, averaging 84 PP100. Following in the rankings are Porsche, Cadillac (which moves from 10th rank position in 2008 to third in 2009), Hyundai (improves from 13th rank position in 2008 to fourth in 2009) and Honda, rounding out the top five.
The auto industry is making better quality cars according the J.D. Power and Associates 2009 Initial Quality StudySM (IQS) released today. Overall, the industry average for initial quality is 108 problems per 100 vehicles (PP100) in 2009, down from 118 PP100 in 2008. Initial quality for domestic brands has improved to an average of 112 PP100 in 2009 from 124 PP100 in 2008. Lower PP100 scores indicate a lower rate of problem incidences and higher quality.
New vehicles sold by Chrysler, Ford and GM's domestic brands have improved in initial quality by an average of 10 percent, compared with 2008, surpassing the 8-percent rate of improvement by the industry overall. Several all-new models in 2009, including the Hyundai Genesis, Kia Borrego, Toyota Venza and Volkswagen CC, perform considerably better than their respective segment averages. Many redesigned models in 2009 also show notable improvement from the previous generation--particularly the Acura TL, Ford F-150, Honda Pilot and Nissan Z.
Toyota captures 10 segment awards--more than any other corporation in the 2009 study--including five for Lexus, four for Toyota and one for Scion. Lexus receives awards for the IS, GS, GX, LS and LX models. The Lexus LX has the fewest quality problems in the industry, with just 52 PP100. Toyota models receiving awards in their respective segments are the 4Runner (in a tie); Sienna; Tundra (in a tie); and Yaris.
Ford receives three awards for the Edge (in a tie); F-150 (in a tie); and Mustang. Garnering two awards each are Nissan (Altima and Z); and Honda (CR-V, in a tie, and Ridgeline).
Also receiving segment awards are: Chevrolet Trailblazer (in a tie), Chrysler PT Cruiser Wagon (in a tie), GMC Yukon, Hyundai Elantra Sedan, Mercury Sable and Scion tC.
2009 Nameplate IQS Ranking
Problems per 100 Vehicles
Lexus 84
Porsche 90
Cadillac 91
Hyundai 95
Honda 99
Mercedes-Benz 101
Toyota 101
Ford 102
Chevrolet 103
Suzuki 103
Infiniti 106
Mercury 106
Industry Average 108
Nissan 110
Acura 111
BMW 112
Kia 112
Volkswagen 112
GMC 116
Buick 117
Audi 118
Pontiac 118
Scion 118
Volvo 118
Saturn 120
Mazda 123
Lincoln 129
Subaru 130
Dodge 134
Jaguar 134
Mitsubishi 135
Chrysler 136
HUMMER 136
Jeep 137
SAAB 138
smart 138
Land Rover 150
MINI 165
June 15, 2009
Barber Vintage Motorsports Museum - Birmingham, Alabama.
George Barber raced Porsches in the 1960's with 63 first place trophies. When his father died in the '70's he had to focus on running his family's milk business. He started collecting and restoring classic sports cars 20 years ago before turning his interest to motorcycles and opening a museum in 1995 on Birmingham, Alabama's Southside. Nearly six years ago, Mr. Barber moved the museum to a 740-acre spread with a beautifully designed building to brilliantly display 750 motorcycles at any one time from a total collection of 1,300. There's also as a substantial collection of Lotus and other race cars in the structure that sits along side a 2.38 mile racetrack that's on par or better than almost any F1 or Indy layout in the world. A large glass elevator in the middle of the building takes the cars and bikes to any of the 5 levels, including the restoration shop on the ground floor.
There are bikes from 16 countries that represent 143 different marques. The oldest I could find is this 250cc 1902 Steffey made-USA moped.
I was told by the museum staff that the most rare motorcycle on display is this Britten from New Zealand. John Britten who died in 1995 hand made only 13 of these motorcycles.
When I told a buddy of mine, a retired building design executive and motorcycle lover, that I was going to Birmingham, Alabama, he emphatically said "don't miss the Barber motorcycle museum". I can see why. Well done, George!
June 10, 2009
Chrysler Group LLC, the new Chrysler, will begin operations immediately with a subsidiary of Fiat getting a 20 percent equity interest on a fully diluted basis in the new company with that holding increasing in increments up to a total of 35 percent in the event that certain milestones mandated by the agreement are achieved, but Fiat cannot obtain a majority stake in Chrysler until all taxpayer funds are repaid. The U.S. Treasury and the Canadian Government have been issued an equity interest equal to 8 percent and 2 percent on a fully diluted basis, respectively.
Fiat has also entered into a series of agreements necessary to transfer certain technology, platforms and powertrains to the new Chrysler for small- and medium-sized cars, allowing the company to offer an expanded product line including environmentally friendly vehicles. Chrysler will also benefit from Fiat's management expertise in business turnaround and access to Fiat's international distribution network with particular focus on Latin America and Russia.
Sergio Marchionne was named Chief Executive Officer of Chrysler Group LLC in addition to his role as Chief Executive Officer of Fiat S.p.A. The new Chrysler will be managed by a nine-member Board of Directors, consisting of three directors to be appointed by Fiat, four directors to be appointed by the U.S. Government, one director to be appointed by the Canadian Government and one director to be appointed by the United Auto Workers' Retiree Medical Benefits Trust.
The Board is expected to name C. Robert Kidder as Chairman. The 64 year old Kidder has been Chairman and Chief Executive Officer of private investment firm 3Stone Advisors LLC since August 2006 and prior to that was a Principal of Stonehenge Partners, Inc., another private investment firm, from April 2004 to July 2006. He was Chairman and Chief Executive Officer of dairy, food and beverage company Borden, Inc. from 1995 to 2003 and was also a Founding Partner of Borden Capital Management Partners. Prior to that, he was at battery maker Duracell International Inc. from 1980 to 1994, assuming the role of President and Chief Executive Officer in 1984. He is also a director of investment company Morgan Stanley and drug firm Schering-Plough Corporation.
Jim Press, who came to Chrysler in 2007 after 38 years at Toyota Motor Corp., will be Marchionne's deputy CEO and a special adviser.
As previously announced, Chrysler has entered into an agreement with GMAC Financial Services to provide automotive financing products and services to the Company's North American (NAFTA) dealers and customers. GMAC Financial Services will be the preferred lender in North America for Chrysler, Jeep and Dodge dealer and consumer business, including wholesale of new and used vehicles as well as retail.
June 5, 2009
Penske Automotive Group has signed a Memorandum of Understanding with General Motors to obtain the rights to the Saturn brand, acquire certain assets including the Saturn parts inventory, and have the right to distribute vehicles and parts through the Saturn Dealership network, if the transaction is completed which if all goes well is expected to occur during the third quarter of this year. General Motors would continue to provide Saturn Aura, Vue and Outlook vehicles, on a contract basis, for an interim period.
"We have agreed upon a framework that we believe will build momentum for the Saturn brand," said Penske Automotive Group Chairman Roger Penske
. "Saturn has a passionate customer base and outstanding dealer network. For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths."
Saturn began selling cars in 1990 and has sold more than 4 million vehicles. More than 80 percent of those vehicles are still in operation, according to data from R.L. Polk.
Penske Automotive Group operates 310 retail automotive franchises, representing 40 different brands and 25 collision repair centers. Penske is also the exclusive distributor of the smart fortwo through its wholly-owned subsidiary smart USA Distributor.
May 27, 2009
General Motors will have an announcement on Monday - bankruptcy or no bankruptcy. GM, which has received $19.4 billion in federal loans, failed to persuade enough bondholders to accept a debt-for-equity swap of $27 billion in unsecured debt for 10 percent of the company's stock. Not only are bondholders losing a fortune, there is no promise on what the stock of the restructured company will be worth. This essentially means that the stage is set for the largest-ever U.S. industrial bankruptcy.
Can GM get 90 percent bondholder support to stave off bankruptcy before Monday? What would sway them in favor after so many rejections? Maybe a larger piece of the new company? GM reached an agreement on Tuesday with the leadership of the United Auto Workers (UAW) union.
Government restructuring outside of the courts or court-run Chapter 11 bankruptcy, GM will emerge much leaner. GM employees say "they are fighting hard" focusing on their core brands with fewer dealers and fewer nameplates. The news on Hummer's winning bidder will be followed by the announcement of new owners for GM's Saturn and Opel brands and the Swedish's government's decision on the fate of Saab.
The June 1st news on the bankruptcy decision will come a day before the May auto sales are released, which, based on yesterday's report that the Conference Board's index of consumer confidence for May jumped to 54.9 from 40.8 in April, could mean good sales data will come a day too late to save GM from bankruptcy.
In vehicle news - Cadillac announced today that the 2010 SRX Crossover, scheduled to begin production this summer, will be priced starting at $34,155 coming with all-wheel-drive and a 3.0-liter Direct Injection V6 engine. Later this summer, CTS Sport Wagon arrives with the same standard 3.0-liter Direct Injection V6 engine with highway fuel economy is estimated to reach 28 mpg.
May 14, 2009
American Honda which started as a motorcycle company in Japan in 1948, began U.S. sales in September 1959 in Los Angeles, with a staff of eight selling the Dream, Benly, and the Honda 50. The launch of the Civic in 1973 put Honda on the map and the rest, as they say, is history. That history is captured at Honda's private museum with a wide array of motorcycles, racecars and cars.
May 13, 2009
Parnelli Jones is a race driver and race car owner from Torrance, in the Los Angeles area, and that's where his museum is, on the 2nd floor of an unassuming building. From Baja Buggies to Indy cars, there's an amazing collection of racing memorabilia.
Jones was named the 1961 Indianapolis 500 Rookie of the Year and in 1962, he was the first driver to qualify over 150 mph at the Indy 500, winning the pole position at a speed of 150.370 mph. He may be best remembered for his 1963 Indy 500 win, and almost winning the 1967 Indy 500 in a turbine car. Jones retired with six IndyCar wins.
Jones started Vel's Parnelli Jones Racing, which won the Indianapolis 500 again as an owner in 1970 and 1971 with driver Al Unser driving the Johnny Lightning special. The team also won the 1971, 1972, and 1973 USAC National Championships.
March 31, 2009
Good-bye Rick. The above photo of myself and Rick Wagoner was taken July 15, 2008, a day when Wagoner announced $15 billion in cost cuts - that was the path General Motors was on when the financial markets collapsed severely worsening the economic environment for not only GM but the world. During his eight years at the helm of General Motors there were times that Wagoner's ouster was considered but the fallback was that Rick knows the company and the business and how could a new guy get the job done better.
Hello Fritz.
Now Fritz Henderson
(right) is General Motors CEO who today called Wagoner "a fantastic guy, friend and mentor" and admitted, in his 25 years at GM, having a similar path to his former boss that included "speaking Portuguese" referring to their stints in Brazil.
President Obama needed to show he was serious about restructuring the auto industry so Wagoner was part of the shake up and "change". In his speech yesterday, the President, while talking a hard line, did assure the company's survival.
Fritz has 60 days to execute a revised business plan "to clean the balance sheet to allow us to be competitive" or General Motors faces bankruptcy reorganization. Henderson says "we are capable of doing it out of court" and claims "whatever it takes and that's what I'm going to do".
The new GM according to Henderson: "we said in our viability plan we're going to focus on four core brands" - "Chevy, Cadillac, Buick and GMC". Henderson says "Pontiac will be a niche brand in the BPG (Buick, Pontiac, GMC) channel" - what does that mean? What is Pontiac now?
Henderson says the news of a Hummer sale will be soon and Saturn will be cast off as well. He says the two broad messages are "go deeper, go harder" and "go faster".
I've said from the beginning that a General Motors Chapter 11 bankruptcy was the best route because the UAW needs to be forced to cut a lot more. Bankruptcy is dangerous because one judge calls all the shots whereas this quasi-bankruptcy government task force reorganization approach allows more discussion before drastic decisions are made. Pedal-to-metal Fritz!
March 27, 2009
Irvine-based Fisker Automotive has signed up 32 new-car dealers with eight in California and the rest covering 15 states and British Columbia, bringing Fisker close to its goal of having 40 locations across the country by the end of June 2009.
They'll be selling the $87,900, 100mpg Karma plug-in hybrid sedan which so far has 1,300 pre-orders with delivery starting in early 2010. Fisker says all orders received from mid-January onwards will be delivered in the second half of 2010. Effective Jan. 1 the deposit amount is $5,000. Fisker is also accepting deposits of $25,000 for the convertible FISKER KARMA S.
Fisker told the Motor Press Guild recently that he hopes to sell 15,000 Karmas annually. The Karma is powered by electric motors running off lithium ion batteries with a gasoline generator to extend their range.
March 23, 2009
Aabar Investments PJSC (Aabar) of Abu Dhabi is buying 9.1% of in Daimler AG by acquring newly issued shares worth 20.27 Euros or $26.64 per share, close to the current market price, bringing the total investment to 1.95 billion Euros or $2.66 billion. With Kuwait having held an equity interest since 1974, Daimler will have two major shareholders in the future. Following the capital increase, the equity interest held by Kuwait will amount to 6.9%.
Aabar is an investment company headquartered in Abu Dhabi and directly invests in various industries including energy, infrastructure, real estate, automotive and financial services companies. Its largest stakeholder is the International Petroleum Investment Company (IPIC), which has investments worth more than $14 billion in many international companies and is wholly owned by the Government of the Emirate of Abu Dhabi.
Their future cooperation of Daimler and Aabar will focus on joint initiatives for electric vehicles specifically aimed at the reduction of CO2-emissions, the development and/or production of innovative compound materials to be used in automotive manufacturing and social projects such as the establishment of a training center in Abu Dhabi to educate young talent for positions in the automotive industry.
Daimler says the cash inflow from the capital increase will further improve Daimler's sound financial position. At the end of 2008, the equity ratio of Daimler's industrial business was 42.7% and the equity ratio of the entire Daimler Group was 24.3%.
February 24, 2009
Last Friday the Saab Board announced that it filed for reorganization under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for investment. With sales of just 21,383 vehicles in 2008, Saab is G.M.'s smallest of GM's eight brands in the United States. The 9X Convertible Concept as seen in Chicago this month is at the forefront of the above photo.
According to the news release on GM's website, "The reorganization is a self-managed, Swedish legal process headed by an independent administrator appointed by the court who will work closely with the Saab management team." Similar to Chapter 11 in the U.S. Creditors will see the proposal within three weeks of the filing. Pending court approval, the reorganization will be executed over a three-month period and will require independent funding to succeed.
"We explored and will continue to explore all available options for funding and/or selling Saab and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment," said Jan Ake Jonsson, Managing Director for Saab Automobile. "With an all new 9-5, 9-3X and 9-4X all ready for launch over the next year and a half, Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs. Reorganization will give us the time and means that help get these products to market while minimizing the liquidity impact of Saab on GM."
Saab will continue to operate as usual and in accordance with the formal reorganization process, with the Government providing some support during this period. The reorganization should have no impact on other GM operations.
January 29, 2009
The all-new 2010 Hyundai Genesis Coupe national advertising campaign will debut on Sunday's Super Bowl with Smashing Pumpkins providing a rock soundtrack for a 30 second spot airing immediately before the kick off. Hyundai has a total of five 30-second spots - three during NBC's "Kick-Off Show" and two in-game spots during the Super Bowl broadcast. San Francisco-based creative agency Goodby, Silverstein & Partners developed the five new Hyundai ads for Super Bowl Sunday.
Genesis Coupe follows the recently named "2009 North American Car of the Year" Genesis sedan, sharing its rear-wheel drive architecture and independent rear suspension and offering a 30-mpg, 210 horsepower 2.0-liter model with a low-pressure intercooled four-cylinder turbocharged engine and a 306 horsepower 3.8-liter V6 Track model with Brembo brakes.
Audi is back in the Super Bowl joining the Cardinals and Steelers with a commercial that is a high-speed journey through luxury automobiles in American history. Actor Jason Statham makes his Super Bowl debut rushing from decade to decade to avoid capture, trying to find a vehicle to aid his getaway. He finds the supercharged, redesigned Audi A6 mid-sized luxury sedan. San Francisco-based Venables Bell & Partners, created the ad, which was shot on-location in Los Angeles.
Bridgestone Tire is back for its second year on advertising's biggest stage with two new commercials and as the title sponsor of the Bridgestone Super Bowl XLIII Halftime Show featuring Bruce Springsteen and the E Street Band during the NBC telecast of Super Bowl XLIII from Tampa Bay.
Look for "Taters" at the end of the first quarter and see Mr. and Mrs. Potato Head, two Hasbro characters, on a mountain road take an unexpected turn. The second Bridgestone spot, "Hot Item," will air in the third quarter and takes viewers to Titan, Saturn's largest moon where the ultimate space vehicle roams around equipped with high-performance Bridgestone tires.
No U.S. automaker is spending the $2 million to $3 million per Super Bowl commercial but at last check there were still two for sale.
January 27, 2009
NADA's 2009 Chairman John McEleney says 1,000 dealerships or 50,000 jobs were lost in 2008 and another 1,200 dealers will leave in 2009 because of the economy so it's no surprise that this year's NADA was filled with inspirational speakers. Former NFL quarterback Archie Manning, Christopher Gardner who inspired the movie The Pursuit of Happyness, President George H.W. Bush, President Bill Clinton. President Bush says we are a strong country and we have a way of bouncing back while President Clinton told the NADA audience to never stop thinking because fear paralyzes - keep your head.
One of the best speakers was Dick Colliver, executive vice president of American Honda Motor Co. Colliver, speaking to the American International Automotive Dealers Association (AIADA), says now is the time for positively embracing change and focusing on knowing your customer, competition, manufacturer and yourself. What the automotive media overlooks while reviewing new vehicles is the importance of sales people - they make and break deals no matter how great the car is. Colliver stressed the importance of attracting and retaining top sales people. All speakers agree that we are in uncertain, unprecedented times, as Colliver put it - "we are ships at sea in a difficult storm". In an attempt to forecast 2009, Colliver said U.S. vehicle sales could be anywhere from 10 to 15 million - "we flat out don't know". Positive thinking is good but is has to be accompanied by available credit for small businesses and car buyers.
January 26, 2009
The annual National Automobile Dealers Association meeting being held in New Orleans is where manufacturers tell their dealers about the state of their companies, new product expectations and the market. It's also where a large exhibit hall filled with vendors persuading dealers to buy their products which range from financing and customer retention programs to and service bay equipment and car washes. The New Orleans show attendance was way down, 30 to 40% depending on who you talk to, from last year's NADA show in San Francisco which was down from the previous year in Las Vegas. The 3 million drop in vehicle sales in 2008 from 2007 and the current weak economic conditions are among the reasons why only a few thousand dealerships out of 20,000 were represented in New Orleans.
Car dealers would like to be seeing double when it comes to sales this year. For now these are the Campbell twins from Playboy's December issue. Chrysler's Jim Press rallied his dealers with optimism saying, "2009 will be a spectacular year for us" with Chrysler's second $1.5 billion government loan installment coming soon to help. Most dealers understand the current industry and economic conditions and just wanted reassurance from the car suppliers and peers.
Manufacturer receptions for their dealers was low key and the traditionally lavish NADA parties were few but Chicago-based direct mailer Aspen Marketing Services had four Playmate centerfolds signing autographs while rock bands America and Jefferson Airplane/Starship played their '70's tunes. Another automotive vendor, Dealer Track took over the New Orleans Aquarium with food and dancing for their clients. Most manufacturers had food and mingle gatherings at New Orleans restaurants.
Today former Presidents Bill Clinton and George H.W. Bush will address the NADA attendees. The bottom line is that positive messages and the feeling that things are getting better will feed on itself to boost consumer confidence and already many dealers are whispering that January so far is producing an uptick in sales - we'll see how much of an uptick when figures are released next week. Convention attendees can see how New Orleans has recovered from Hurricane Katrina and can hope that the same magic works on the auto industry.
December 21, 2008
It looks like GM and Chrysler are under the gun to develop Toyota and Honda-like business models in order to qualify for the $17.4 billion in government help. The deal struck by the U.S. government carries the condition that GM and Chrysler become "financially viable" which means a "positive net present value" by March 31, 2009, or the loan will be called and all funds returned to the Treasury.
They will be provided with $13.4 Billion in short-term financing from the TARP, with an additional $4 B available in February, contingent upon drawing down the second wave of TARP funds. Ford's needs are not as immediate but it wants access to a $9 billion federal line of credit in case the car market slides further or if GM or Chrysler can't survive.
Some of the challenges Detroit's Big 3 face as part of the conditions in receiving the money is creating work rules and wages that are competitive with transplant auto manufacturers by December 31st, 2009.
Cerberus, the private equity firm that owns Chrysler, said, "In connection with the loan to be provided by Treasury, Cerberus has agreed to utilize the first $2 billion of proceeds from Chrysler Financial to backstop the loan allocated to Chrysler automotive. In addition to this, Cerberus believes that concessions by all relevant constituencies will be required to facilitate a full restructuring and recapitalization of Chrysler." That seems to be aimed at the UAW which has to be considered the key party in all this. Take wage cuts or lose your jobs appears to be the clear ultimatum.
North of the border where hundreds of thousands of jobs hinge on the automotive industry, Prime Minster Stephen Harper and Ontario Premier Dalton McGuinty announced that Canada is providing C$4 billion (US$3.3 billion) in emergency loans to keep them operating while they restructure. General Motors of Canada is eligible for loans of up to $C3 billion and Chrysler Canada for up to C$1 billion while Ford Canada hasn't not asked for any.
Let's see if GM and Chrysler can be like Toyota under the required deadlines. Chrysler's Jim Press spent a career at Toyota so knows how to get there - the question is can they get on that road by the end of March and arrive by December 2009?
December 18, 2008
It's quite a story - two graduates of the Art Center College of Design in Pasedena - Michael Craven and Kevin Beard have gone from car designers to shoe salesmen - but not just any shoes - they are "all day everyday" motorsport athletic shoes. Piloti shoes (pron. Pee-low-tee) are narrow to handle tightly spaced gas, brake and clutch pedals and have a patented "roll control" cushioning under the heel for smooth throttle tipping as well as ball-of-the-foot padding for braking. Founder and CEO Beard calls Piloti, Italian for "racing drivers", a car culture brand.
Beard's Art Center degree was in Product Design - concentrating on the interior of cars. According to the Piloti website, while searching for the perfect job, Kevin joined the Advanced Design Group at Adidas in Germany and was instrumental in designing the first "Feet You Wear" concept.
Michael Craven's path took him to Ford where he designed interiors for concept vehicles that became the Ford Expedition and Lincoln Navigator. While working at Ford, the Roller Blade craze erupted and a fellow designer at Bauer, the Canadian hockey skate company, asked Craven to help him develop in-line skates which began Craven's transition to the footwear business. Craven was hired by Serel, another Canadian company, to create a dual purpose all-in-one ski boot and apres ski boot.
From there Craven went to Reebok where he was re-united with his Arts Center alum Beard and both returned to California to join athletic footwear maker K-Swiss. The two kept talking about merging their automotive and footwear experience and Piloti was born. Craven is Piloti's Director of Design and developed the Piloti shoe lines after analyzing race car driver complaints. Many models of Piloti shoes comply with standards set by the FiA (Federation Internationale de l'Automobile), the governing body for world motor sport, and The SFI Foundation, established to issue and administer standards for specialty/performance automotive and racing equipment. I caught up with Piloti at the SEMA Show in Las Vegas.
December 8, 2008
Whatever Congress decides to give General Motors, Ford and Chrysler in bailout money and loans, they will demand a reorganization, which all three volunteered in their latest Washington visit, and there's talk of appointing a "car czar" to oversee them. That is Chapter 11 bankruptcy without calling it such. "Chapter 11 is typically used to reorganize a business. The U.S. trustee plays a major role in monitoring the progress of a chapter 11 case and supervising its administration." By calling it reorganization and not bankruptcy will keep consumer confidence in the brands and the dealer service and warranties that go with a car purchase.
Mainstream media is using the current automaker struggle to criticize the cars they build, saying people aren't buying American vehicles. Wrong! In November, General Motors sold 154,877 vehicles in the U.S., the most of any automaker, for a year-to-date total of 2,758,705. Toyota was next with November sales of 130,307 for 2,075,711 in 2008. Ford was third with 118,818 for 1,849,309 this year. Chrysler is next with 85,260 November sales and a 2008 total of 1,363,309. Honda is right behind in fifth place with November sales of 76,233 for a 2008 total of 1,342,680 in 11 months. The U.S. automakers hold three of the top four spots! Americans are buying GM, Ford and Chrysler products.
The problem is profitability because of high manufacturing, healthcare and retirement costs compared to the competition. The numbers being thrown around are $78 an hour for unionized U.S automakers compared to $48 an hour for American workers at Japanese plants in the mid-West and South. Maybe pay cuts and not job losses is the answer. Also, there are too many dealers. Chrysler with 3,300 dealers sells fewer vehicles than Toyota with about 1,300.
September 30, 2008
Our current financial crisis reminds me of Mitsubishi North America's overly-aggressive sales drive that started in 1999 with super-generous "0-0-0" (zero-zero-zero) financing (a 0% loan rate, no money down, no payments for a year) that resulted in a sales collapse and an enormous 2003 reported loss of $843 million. Their Cypress, California, headquarters cut 200 jobs or 20% of their workforce at the end of 2003 and scrapped a $200-million plan to
expand Mitsubishi's only U.S. factory in Normal, Illinois.
For four years, Mitsubishi had been giving cars away to people who couldn't afford to pay for them which grew sales from 190,515 in the 1998 calendar year to 345,111 in 2002 until the jump in loan defaults started the bleeding of red ink. When you're turned down for credit to buy a $1,000 TV at an electronics store and can go across the street and get a $20,000 car to drive free for a year - why not. Where's the incentive to make payments? Did the government rush in to bail out Mitsubishi or help the customers who knew they were getting into cars they couldn't afford? Sales in 2003 fell 24% from 2002.
Mitsubishi Motors, the Japanese parent company, reported a $2 billion loss in it's fiscal year which ended March 31, 2004 and a $4.4 billion loss for the year ended March 31, 2005. Good news, in the year ended March 31, 2008, Mitsubishi's global operating profit more than doubled to a record $944.3 million and, even with the challenges this year, Mitsubishi could report its third straight profitable year after three years of losses.
In 2006, Mitsubishi's U.S. sales were 118,558, down 4.1 percent from the year before, for a U.S. market share of 0.7 percent. In 2007, sales grew to 128,993 and based on sales so far in 2008 are on pace for around 109,000.
Today's U.S. financial crisis came from greed and aggressive lending practices on unsound business models. As my good friend and one of the best financial analysts, James Dines, author of Mass Psychology, says the market is based on greed and fear. We've seen the greed, now the fear. The catalyst for this widespread disaster was lenders giving home buyers the equivalent of the Mitsubishi's 0-0-0 financing.
September 25, 2008
BMW 1 Series 2008 Sales of 8,617 Beating Edmunds.com Estimate
Automotive News
reported this week that BMW USA CEO Jim O'Donnell will throttle back the stream of vehicles coming into the U.S. by 44,000 by the end of this year to adjust for the declining car market after BMW's 16 straight years of sales increases. The U.S. dollar weakness against the Euro makes high incentives a money-losing proposition so don't look for any big BMW sales events to move metal. O'Donnell also wants to cut the level of leased vehicles which in August was about half of sales. BMW is planning to cut 90 jobs and reduce marketing expenses.
BMW brand sales this year are at 180,889 through August, down 7.4% from the same eight months in 2007. Sales of the X5 Sports Activity Vehicle are up 1.5% over 2007. The new BMW 1 Series has sales of 8,617 this year and is on pace to surpass the Edmunds.com
estimate for its first six month of sales. The new X6 with sales of 2,886 after 5 months is a far cry from the prediction. The BMW 1 Series, the X6 and new 7 Series all trade on the Car Stock Exchange
.
September 16, 2008
Dow Industrial Average Year-to-Date 2008
- Down 19.5%
(Courtesy: BigCharts.com)
With the 504 point, 4.4% Dow Industrial Average plummet yesterday on the bankruptcy of investment bank Lehman Brothers, the sale of broker Merrill Lynch and concern over insurer AIG, most market averages that measure the stock market are down about 20% in 2008. Yesterday was the biggest one-day point decline since Sept. 17, 2001, when the market reopened for trading after being closed following the 9/11 terrorist attacks.
That zapping of American wealth is taking its toll on the auto industry. Couple that with consumers' difficulty in borrowing money because of banks tighter lending standards since the sub-prime mortgage crisis that began more than a year ago. Job loss is another negative for the auto industry - the unemployment rate rose from 5.7 to 6.1 percent in August, and 84,000 jobs were lost.
Auto sales were rebounding in August thanks to huge rebate and incentive programs. The seasonally adjusted annual sales rate for August was 13.7 million, up from 12.5 million in July, the worst month in 16 years. By comparison, full-year 2007 sales were 16.14 million vehicles, the lowest since 1998, making the current 2008 selling pace 15.1% lower than last year.
Yesterday, oil traded down $5.47 to settle at $95.71 a barrel. Oil prices have fallen more than $54 from the record high price of $147.27 a barrel, set July 11th. Could that be good news for the auto industry which has been complaining that high gas prices have been hurting sales? Oil prices are down in the past few months due to the global slowdown which has reduced oil demand and the negative economic implication of the financial markets drop. It's a vicious circle.
Is the worst over? The Fed could pump in liquidity and lower interest rates to ease the credit crunch which will be a positive, plus government bailouts to rescue the economy will be a temporary fix. We've been through this so many times before but even former Fed Chairman Alan Greenspan, who many blame as the architect of this mess, says this is the worst he has seen and stability in the housing market is key. Keep an eye on the financial markets which is a six to nine month predictor of the economic direction. When the market averages begin a solid uptrend then car sales should rise again. This is where the world's financial markets meet the Car Stock Exchange
.
September 10, 2008
Did you know that the Joker's henchmen drove black Ford Expeditions in the opening scene of the latest Batman movie, "The Dark Knight"
which is now the second highest-grossing film of all time? Did you run out and buy one after seeing the movie?
For the third straight year, Ford topped all other brands -- and not just automotive - to win
brandchannel.com's 2008 "brandcameo Award for Overall Product Placement," appearing in 30 of the 52 number one films at the U.S. box office from Jan. 1, 2007 through June 30, 2008. Ford also won the "Scene Stealer Award," given to the brand that took the spotlight from its human co-stars, for the placement of the Ford Mustang in the 2007 hit "I am Legend."
Dana Scully, the star character in the movie "The X-Files: I Want to Believe"
drove a Ford Taurus and the FBI agents had Ford Expeditions.
Ka, Ford Ka will be driven by leading lady, Olga Kurylenko who plays Camille in the new James Bond adventure, 'Quantum of Solace'
, opening in November. The 'Quantum of Solace' Ka
is unique with metallic gold paint and an exclusive exterior graphics and interior trim combination. The actual new Ford Ka will debut in a few weeks at the 2008 Paris Auto Show and could be a big hit.
On ABC's "Desperate Housewives"
the character of Tom Scavo drives a Ford Flex and the character of young Andrew Van De Kamp drives the Mazda RX8.
The new FOX science fiction drama series "Fringe"
from the creator of "Lost"
and "Alias"
will have the character of FBI Special Agent Olivia Dunham, played by actress Anna Torv, driving a 2009 Escape Hybrid. Lead character of Peter Bishop, played by Joshua Jackson, will drive a Ford Mustang and FBI Special Agent Charlie Francis, played by Kirk Acevedo, and Department.of Homeland Security Special Agent Phillip Broyles, played by Lance Reddick will be behind the wheels of new Ford Fusions. The 2009 Flex will be the fleet vehicle for the "Fringe"
team.
The 2008 Ford Shelby GT500KR will star as KITT, the super intelligent, computerized talking car in the new NBC television series "Knight Rider"
driven by the character of Michael Knight, played by actor Justin Bruening. The Shelby will transform into other Ford vehicles throughout the season, morphing into an F-150 pickup in the season opener.
August 4, 2008
Chrysler, calling it the "Shop 'Til You Drive Sales Event" sales promotion, is trying to make borrowing money for a vehicle purchase similar to the leasing programs that Chrysler Financial is eliminating.
Special deals for August also include the continuation of 0 percent APR for 72 month deals on the Dodge Ram, Dodge Durango, Chrysler Aspen, Jeep Grand Cherokee and Jeep Commander. For those customers who still wish to lease a Chrysler, Jeep or Dodge vehicle through an independent financial institution, they can take advantage of Chrysler's Customer Cash Allowance on select vehicles up to $2,000. Returning lease customers will receive a Lease Loyalty incentive up to $750 for use towards the retail purchase of an eligible new Chrysler, Jeep or Dodge vehicle. The disposition fee, up to $425, will be waived by Chrysler Financial.
July 23, 2008
Volkswagen will spend $1 billion to build a plant in Chattanooga, Tennessee, and hopes to have it up and running by early 2011. It emphasizes VW's committment to the U.S. market according to Prof Martin Winterkorn, CEO of Volkswagen AG, who says the U.S. "is an important part of our volume strategy and we are now very resolutely accessing that market. Volkswagen will be extremely active there. We will be selling 800,000 Volkswagen p.a. in the USA by 2018, and this new site will play a key role." Volkswagen says the plant will help to permanently alleviate exchange-rate fluctuations.
The first stage of construction is designed to provide annual capacity for the complete production of 150,000 automobiles, including body-production, paint-shop and assembly operations. The first vehicle to be manufactured there will be a new midsize sedan tailored specifically to the US market. VW along with Audi recently moved its U.S. headquarters from Auburn Hills, Michigan, to Herndon, Virginia. Four VW's
trade on the Car Stock Exchange,
the CC, Jetta diesel, the Routan minivan and the Tiguan compact SUV.
Written by CSX Contributor Richard Saxton
July 15, 2008
When I landed in Detroit this morning and turned on the radio, I heard a news conference with GM's top executives led by Chairman & CEO Rick Wagoner
talking up their global business success while outlining huge cuts to build cash/liquidity to help weather the U.S. economic storm of high gas prices which has shifted buying patterns from trucks to fuel efficient cars and overall economic weakness which has sliced GM's sales by 16.5% in the first half of 2008 compared with 2007. As a Chief Executive Wagoner is focused on GM's stock price which as recently as October 12, 2007, closed at $42.64, cut in half to $21.23 on May 15, 2008 and again, closing at $9.38 on July 14, 2008, the day before this big restructuring announcement.
It's a tough market to judge so GM is taking preemptive action. GM hopes to boost liquidity by $15 Billion through 2009 through a variety of cuts
including jobs, salaries, employee health care expenses, bonuses, its total stock dividend, overall spending and truck production along with making asset sales to raise $4 to $7 billion. "For liquidity planning purposes, GM is using assumptions of U.S. light vehicle industry volumes of 14.0 million units in 2008-2009 which are significantly below trend" according to their news release.
July 1, 2008
Chrysler's total June 2008 U.S. sales of 117,457 is 36 percent below the same period last year as sales of pickup trucks and SUVs tumbled. Sales of these vehicles represent 40 percent of Chrysler's sales through June, a decrease from 46 percent of the lineup a year ago.
Chrysler extended its Let's Refuel America $2.99 Gas Guarantee Plus Cash
program through July 31 as it continues to help improve showroom traffic. The Dodge Journey
which trades on the Car Stock Exchange
had June sales of 5,162 for a year-to-date total of 22,731.
June 24, 2008
General Motors wants to clear out inventory so is launching a "72 Hour Sale" with zero percent financing for 72 months starting today. GM will also raise prices on 2009 models by an average of 3.5 percent, boost output of some compact and mid-sized cars and crossovers and they hired Citibank to explore strategic options for Hummer's future.
2008 Models On Sale. The sale includes over 80 percent of GM's 2008 models, including gas guzzling trucks and large SUVs, along with smaller SUVs and is giving $500 cash to customers who chose to buy, rather than lease...
June 17, 2008
Brad Pitt pulled up to the
Ocean's 13 movie
premiere
in a BMW Hydrogen 7
a year ago
.
BMW has been working on hydrogen power since the late 1970’s. I remember getting the full dog and pony show 8 years ago while on assignment in Munich. Veteran BMW Regional Sales Manager Jim Ryan has come out of retirement to entice environmentally conscious celebrities to drive the Hydrogen 7 - a converted 760 powered by a V12 engine capable of using gas or hydrogen...
June 3, 2008
"We are making a number of important announcements today, covering everything from product and technology investments to capacity adjustments to a strategic review of our Hummer brand," said Rick Wagoner, GM chairman and CEO, who made the announcements as part of the GM annual shareholder meeting. "These moves are all in response to the rapid rise in oil prices and the resulting changes in the U.S., changes that we believe are more structural than cyclical.”
More Cars, Fewer SUV’s and Trucks
Look for fewer trucks and SUVs from GM to IPO on the Car Stock Exchange as 18 of the next 19 new GM products for the U.S. will be cars or crossovers. GM will add a third shift in September to the Orion Assembly Center in Michigan, which builds the hot-selling Chevy Malibu and Pontiac G6...
June 2, 2008
It's official! Tata Motors, India's largest car company, today acquired the Jaguar Land Rover businesses from Ford Motor Company in an all-cash transaction of $2.3 billion, as announced on March 26th, with Ford contributing about US $600 million to the Jaguar Land Rover pension plans. Ford will continue to supply Jaguar Land Rover with engines, stampings and technology, including a range of environmental technologies as part of the deal. The Ford Motor Credit Company will continue to provide financing for Jaguar Land Rover dealers and customers for a transition period...
May 27, 2008
Focus Leads Ford's 2008 Car Sales: 72,920 Through April +29.1% Over 2007
Ford is cutting overall production in the coming quarters and shifting its product mix to cars from large trucks and SUVs as gas prices soar and customers move more quickly to smaller and more fuel-efficient cars and crossovers. Ford is increasing 2008 North American production of the Ford Focus, Fusion, Edge and Escape, Mercury Milan and Mariner, as well as the Lincoln MKZ and Lincoln MKX.
Ford plans to produce 690,000 vehicles in North America during the second quarter, a decline of 15 percent from the second quarter of 2007 and between 510,000 and 540,000 units in the third quarter, down 15 to 20 percent from the same period last year. Ford now expects 2008 U.S...
May 20, 2008
If the Car Stock Exchange was around 100 years ago, these vehicles would be on the IPO Calendar. Let’s take ride back in time through automotive history at Automobile Driving Museum, near Los Angeles International Airport (LAX), where you can actually ride in the cars of yesteryear. The collection of 75 vintage automobiles is dominated by Packards, of which there are 17, ranging from 1916 to 1958. The museum offers rides in these classics and is buying replicas for those that are too valuable to hit the streets...
May 16, 2008
Top Selling Convertible: FORD MUSTANG
Convertible registrations in the U.S. were down 8.6 percent in 2007 after several years of continuous growth, that compares to overall automotive market registrations which fell 3.4 percent in 2007, according to R. L. Polk & Co...
May 13, 2008
Bill McGee Brian Takahashi
San Diego lawyer Bill McGee
has been practicing Lemon Law for 20 years, or about 8,000 cases, by representing the customer or buyer of the vehicle against the car manufacturer. Los Angeles lawyer Brian Takahashi defends the car companies. Both lawyers gave an excellent presentation to the Motor Press Guild on the evolution of the Lemon Law which started in California in 1970 with the Song-Beverly Consumer Warranty Act. Of 5,000 claims against the car companies - 1,297 were settled, 1,398 went to arbitration - 36% were won by the customer according to the lawyers...
May 6, 2008
Chrysler’s latest incentive program, Let's Refuel America
, offers buyers of new or unused vehicles from a Chrysler, Dodge or Jeep dealer a gas card that immediately lowers their gas price to $2.99 a gallon
, and keeps it there for three years. According to the Chrysler release, the offer available through June 2nd, gives consumers a combination of the fuel price protection program and additional bonus cash of up to $3,000.
Once the customer has the gas card and PIN, they swipe their Let's Refuel America
Gas Card at an 
eligible gas station, selecting up to 87 octane regular, E85 fuel or diesel fuel, and enter their PIN to begin the fueling process. After the fuel transaction occurs, the customer's personal credit card (identified in the registration process) is charged $2.99 per gallon...
May 5, 2008
Toyota and Lexus are increasing prices
for most of their vehicles anywhere from 0.4% to 1.6% depending on vehicle model, effective mid-to-late May. For vehicles that trade on the Car Stock Exchange
the all-new 2008 Sequoia SUV, all-new 2009 Corolla compact car and all-new 2009 Matrix crossover utility vehicle pricing remains unchanged.
The Lexus LX 570
luxury utility vehicle will increase 1.2 percent, or $900, carrying an MSRP of $74,700. The 2008 Lexus IS F high-performance luxury sports sedan remains unchanged...
May 1, 2008
The housing crisis has significantly impacted new car sales so dealers have focused on finance, insurance and service to offset the revenue drop. The top 4 dealer groups' stocks are all up in 2008 through April 30th.
AutoNation
AutoNation, America's largest automotive retailer, last week reported its 2008 first quarter revenue fell to $4.0 billion from $4.3 billion in the year-ago quarter pushing its net income from continuing operations down to $56 million from $83 million, missing the average analysts’ forecast. AutoNation saw overall first quarter sales slide 8%, with an 11% tumble in California, Florida, Nevada and Arizona which represents approximately 60% of AutoNation’s new vehicle business...
April 30, 2008
2009 CHEVROLET TAHOE HYBRID
GM is eliminating one shift of production at its full-size pickup truck assembly plants in Pontiac and Flint, Michigan and Oshawa, Ontario along with its full-size SUV assembly plant in Janesville, Wisconsin, effective July 14th to bring production capacity in line with market demand. Approximately 88,000 units of full-size pickup and 50,000 units of full-size SUV production will be removed from GM’s North American production capacity for the remainder of the 2008 calendar year.
In a press release on its website GM said that the full-size pickup truck and full-size SUV segments have softened for the entire industry – down 15 and 26 percent, respectively, through the first quarter of 2008. Nonetheless, GM remains the segment leader in both instances, with nearly 40 percent share of full-size trucks and more than 63 percent share in the full-size SUV market...
April 25, 2008
Big headlines from the news services that “Toyota took the global sales lead from General Motors in the first quarter, capitalizing on growth in China and Europe as GM saw its North American sales drag down gains in other markets.â€
No mention in those stories that GM has been crippled by axel supply disruptions thanks to a strike by 3,650 members of the United Automobile Workers who walked off their jobs at five American Axel factories two months ago. American Axle provides axles and other parts to 80 percent of the light trucks that GM builds in North America so, as a result, a total of 30 G.M. factories have been fully or partly shut down, along with dozens of factories run by other G.M. parts suppliers...</sp
April 23, 2008
Nationwide registrations for new hybrid vehicles rose to 350,289 in 2007 - a 38% increase from 2006, according to R. L. Polk & Co. but still just 2.2% of total U.S...
April 18, 2008
The Cavalier King Charles Spaniel is staring at this little Fiat Punto
wondering how it could break any speed limits - it can - without you knowing it. This was my rental car to race around Geneva during the auto show to get to manufacturer events and convention center press conferences. Be warned, Geneva, like many cities, is heavily armed with radar cameras and you don't know if you're caught until a month after you return home and get hit with an invoice from the car rental agency showing that a $120 ticket fine was charged to your credit card along with a $43 administration fee. I went through a 25 mph (40km/h) zone at 33 mph (53km/h) in the dark after midnight and got nailed...
April 11, 2008
BMW M3 'REVOLUTION' COMMERCIAL
BMW's ad agency, Austin, Texas-based GSD&M Idea City, went to great lengths to create the latest M3 commercial. Shooting at 4,000 frames per second with a high definition 16mm camera and many lenses, the agency took apart six engines to actually film the combustion of the M3 V8 engine - without using special character-generated effects. The voice over narration in the spot is short and simple letting the pictures tell the story.
"Eight thousand four hundred revolutions per minute, the first-ever production V8 BMW M3."
The 2008 BMW M3
has a 4.0-liter 32-valve 414-horsepower V-8 engine with M Double-VANOS "steplessly" variable valve timing and 8 individual throttles, electronically controlled (drive-by-wire)...
April 8, 2008
PONTIAC G8 GT 'MINE' TV COMMERCIAL
I was racing home to watch the NCAA Championship basketball game, looked over and saw the new Australian-built Pontiac G8 GT
speeding along in the lane next to me - very impressive. The most important car in years for Pontiac who spent the big bucks - $1.4 million per 30 second spot on the CBS NCAA final game telecast. Was it worth it? You bet ya...
April 1, 2008
As excitement builds for the all-new Mazda6 coming to the Car Stock Exchange in a few months and to U.S. showrooms this Fall, Mazda is on fire with growing sales and a shower of awards for its CX-9 and Mazda2 models. 2007 was Mazda’s best sales year since 1994 and 2008 continues to be hot with Mazda’s U.S. sales speeding off the line in the first two months of this year with sales of 44,760, up 8.4 percent year-over-year...
March 31, 2008
Declining consumer confidence and spending, along with turbulence in the financial markets, led J.D. Power and Associates to a lower its 2008 U.S. vehicle sales forecast from 15.7 million cars and light trucks to 14.95 million, the lowest level since 1994. However, it’s a mixed bag when looking at car companies that have recently released production statistics:
- GM North America produced 350,000 vehicles in February, (129,000 cars and 221,000 trucks), up 1,000 units or less than 1 percent compared to February 2007...
March 26, 2008
Ford Motor Company has entered into a definitive agreement to sell its Jaguar Land Rover operations to Tata Motors for approximately US $2.3 billion. Ford will then contribute up to approximately US $600 million to the Jaguar Land Rover pension plans. The deal is expected to close by the end of the next quarter.
Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies...
March 24, 2008
The Justice Department today approved the merger of rivals XM Satellite Radio Holdings Inc. and Sirius Satellite Radio more than a year after the deal was announced. The FCC still must rule on the transaction but is expected to follow the DOJ decision. Traditional radio opposed the merger on anti-trust grounds...
March 18, 2008
We thought the deal was going through 2 weeks ago but delays due to discussions over Ford relationship with Tata on issues like technology sharing and providing engines and body parts apparently now has the Ford sale of Jaguar and Land Rover to India's Tata Motors set for next week according to Reuters.
Reuters
is reporting that India's Tata has signed a deal to receive a $3 billion one-year bridge loan from Citigroup and JPMorgan to finance the roughly $2 billion purchase of Jaguar and Land Rover, according to sources familiar with that deal. Tata is believed also to need money to help pay for manufacturing the world's cheapest car, the Nano
, that it will launch in the second half of the year.
TATA NANO
We don't expect sales of the new Jaguar XF to be affected by the ownership change but if they are, it may be positive...
March 12, 2008
BMW will invest an additional $750 million in its Spartanburg, South Carolina factory for a new 1.2 million square foot Assembly Facility north of the existing factory to accommodate the next generation BMW X3 Sports Activity Vehicle. In addition, the Paint Shop will expand by about 80 percent or 300,000 square feet.
500 new jobs will be added to the more than 5,400 people already working on the site for production of the BMW X3, X5 Sports Activity Vehicle and X6 Sports Activity Coupe
and their respective variants for world markets including a diesel version of the X5
for the United States market starting later this year. Production capacity will increase from the current 160,000 to 240,000 units by 2012...
February 26, 2008
Automotive News said that India-based Tata Motors will announce its purchase of Jaguar Land Rover from Ford Motor company on March 5 or 6 as union hurdles have been overcome.
Charlotte-based Sonic Automotive which operates 174 franchises, representing 38 different brands of cars and light trucks, and 36 collision repair centers in 15 states saw its fourth-quarter profit from continuing operations rise to $29.4 million, or $0.68 per diluted share, compared to $28.9 million, or $0.64 per diluted share, in the prior year period as new car sales rose about 3 percent to $1.19 billion during the quarter and used car sales jumped around 25 percent to $376.5 million. For the full year, profit rose nearly 18 percent to $95.5 million. Sonics' Board of Directors approved a quarterly dividend of $0.12 per share.
Houston-based Group 1 which owns and operates 104 dealerships, 143
franchises and 26 collision service centers in the United States and the United Kingdom that offer 32 brands of automobiles reported fourth quarter net income fell to $15.7 million from $16.3 million for the prior-year quarter...
47 international automotive journalists have selected their "top 10" finalists for 2008 World Car awards to be announced at the New York International Auto Show on Thursday, March 20, 2008.
The Audi R8 and Audi A5 are finalists for both World Car and World Performance Car.
World Car
- Top Ten Finalists (in alphabetical order):
Audi A5 Coupe / Audi S5 Coupe
Audi R8
Cadillac CTS
Ford Mondeo
Ford S-Max
Mazda2 / Mazda Demio
Mercedes-Benz C-Class
Nissan Qashqai/Dualis
Nissan Skyline/Infiniti G37 (Coupes)
Volvo C30
The 2008 World Performance Car
top ten finalists:
AMG Mercedes-Benz S 63
Aston Martin V8 Vantage Roadster
Audi R8
Audi S5 Coupe
BMW M3
Honda Civic R
Maserati GranTurismo
Mercedes-Benz CLK63 AMG
(Black Series)
Renault Clio F1 Team R27
Mercedes-Benz CL 63
2008 World Green Car
ten candidates and GM has 5 of them:
BMW 118d with Efficient Dynamics
Chevrolet Equinox Fuel Cell Electric
Chevrolet Tahoe/GMC Yukon Hybrids
Chevrolet Malibu Hybrid
Lexus LS 600h L
Nissan Altima Hybrid
Saturn Aura Green Line
Saturn Vue Green Line
SmartForTwo cdi
February 18, 2008
Hyundai's Super Bowl ads did the best job of boosting brand opinion according to Nielsen Online MegaPanel Survey and comScore. Nielsen's post- game study showed that 43 percent of respondents improved their opinion of the Hyundai brand -- the highest of any automotive advertiser. comScore's post-game survey said Hyundai achieved a 45 percent increase in net brand improvement, the highest figure of any Super Bowl advertiser.
"Our goal was not necessarily to entertain, but to inform, build awareness and position the car...
January 31, 2008
Isuzu has been a Trooper
(1998 model pictured
)
Isuzu entered the U.S. market in 1980, sold its one millionth vehicle in the U.S. in 1992 with the introduction of the Trooper and announced they will leave the American market a year from now. Isuzu has 300 dealers across the U.S...
January 9, 2008
I count more than 30 new vehicles set to be unveiled in Detroit Jan. 13 & 14, about half of them don't have model year designations and many of those are labeled concept vehicles. 21 auto manufacturers will hold press conferences over two days, including plus Ferrari, Maserati and Lamborghini.
So what significant road-ready vehicles can we expect?..
December 27, 2007
Robert Nardelli, responding to media questions about recent remarks about Chrysler financial status, released a statement expressing confidence in Chrysler's operations, products, finances and employees.
Chrysler is no longer a public company, owned by Cerberus Capital Management, L.P. as of August 2007, so the financial data is not disclosed as before, but in order to successfully sell cars, Chrysler must have the public's confidence in the company and its products.
Nardelli, Home Depot's CEO before joining Chrysler said, "First and foremost, it is important to note that Chrysler is not only meeting, but, in many cases, exceeding its financial targets heading into 2008." Nardelli went on to say that, "Importantly, Chrysler has ample liquidity."
Speaking to the vehicles that you'll see on The Car Exchange, Nardelli said they are: "very excited about the new products coming in 2008...
December 23, 2007
The Pontiac G8 is from (GM Holden) Australia, the Saturn Astra from (Opel) Germany and Chevrolet Aveo from (GM Daewoo) Korea.
General Motors, through the 1960's and '70's, sold half of all vehicles bought in the United States and in June 2007 that U.S. market share hit an all-time low of around 22%. They are counting on successes outside the U.S...
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