October 7th, 2008 — Uncategorized
The nation’s economic crisis is hurting automotive dealers across the country and could contribute to an estimated 700 dealerships closing this year, National Automobile Dealers Association Chairwoman Annette Sykora said today.
The NADA says the United States has more than 43,000 dealerships, so about 2% could close this year.
Sykora, whose organization lobbied for the passage of the $700-billion Wall Street bailout, praised Congress for passing the bill but said relief has yet to trickle down to dealers.
“The rescue plan is designed to free up credit markets,” she said in a Detroit speech sponsored by the Automotive Press Association. “But it’s too early to know whether the fix will work.”
Without consumer financing, an automotive dealership’s business can come to a halt because 94% of car buyers finance their vehicles, Sykora said.
Continue reading →
Share This
October 7th, 2008 — Uncategorized
Global auto manufacturing majors are showing interest in Indian automobile market as car exports from India marked a fivefold increase in the past five years. With some of the world’s biggest car makers continuously making high profit from Indian market, the market is becoming a favorite zone for other big companies also.
Moreover, analysts conceive that car exports over the next three years will surge nearly 300 percent to more than half-a-million vehicles a year.
Giving further inspiration, Indian auto major Tata Motors’ $2,500 (about 1 lakh) worth Tata minicar has attracted the global attention. Moreover small cars built in local plants by Japanese and South Korean car makers such as Suzuki, Hyundai and Nissan are also witnessing high exports.
Earlier, India’s biggest car exporter, Hyundai added a midnight shift at its southern India plant to boost production 40 percent and to meet booming demand for its i10 minicar abroad. Both Hyundai and Suzuki are seeing Europe as the market for their made-in �India exports for their recently revealed subcompacts.
Continue reading →
Share This
October 7th, 2008 — car loan news
The U.S. Department of Energy will meet a Congressional deadline for a temporary rule governing $25 billion in loans for the U.S. auto industry, but the money may not flow for some time, Energy Secretary Samuel Bodman said today.
The industry and Michigan lawmakers won the $25 billion in loans to help pay for fuel-efficient vehicles, although Wall Street analysts say the money could keep some of the companies solvent. On Monday, Fitch Ratings cut its view of Ford Motor Co.’s debt, saying the global credit crunch was increasing its cash burn.
Although the bill requires the agency to write a temporary rule within 60 days, the agency has said it could take between six to 18 months before loans could be made – a timeline that Michigan lawmakers have called unacceptable.
Continue reading →
Share This
October 7th, 2008 — GM, chevrolet
At 33 miles per gallon highway, four-cylinder, non-hybrid versions of the 2009 Chevrolet Malibu and Saturn Aura midsize sedans equipped with six-speed transmissions carry a higher EPA highway fuel economy label than comparably equipped Toyota Camry and Honda Accord models.
In addition, the Chevrolet Cobalt XFE and Pontiac G5 XFE, at 37 mpg highway, achieve a higher EPA highway fuel economy rating than comparably equipped versions of the Toyota Yaris and Corolla, or the Honda Fit.
“Fuel economy is top-of-mind for many of our customers, and we’re providing great-looking, well-equipped and fuel-efficient choices across our lineup – from subcompacts to crossovers to full-size pickups and SUVs,” said Mark LaNeve, GM North America vice president, Vehicle Sales, Service and Marketing. “We are using our technology leadership to squeeze more miles out of a gallon of gas, and we are investing our global resources to develop advanced technologies to help us diversify the energy sources for our future transportation needs.”
In all, GM delivers 18 ’09 models – including three hybrids – that achieve EPA-estimated 30 miles per gallon or more on the highway, more than any other automaker. Chevrolet, GM’s largest brand, leads with eight – including the popular Malibu midsize sedan – followed by Pontiac and Saturn with five each. (Please see separate release for a complete list of GM’s 30-and-up performers.)
The following is a look at some of GM’s more fuel-efficient 2009 model year vehicles.
Cadillac: The all-new Cadillac Escalade Hybrid, the world’s first large luxury hybrid SUV, achieves an EPA-estimated 20 mpg city and 21 highway using GM’s two-mode hybrid system and Active Fuel Management technology. That’s a 50-percent improvement in city fuel economy over the non-hybrid Escalade.
Chevrolet: While GM’s largest brand offers eight models that achieve 30 miles per gallon or more highway, that’s only part of Chevy’s fuel solutions portfolio.
Continue reading →
Share This
October 7th, 2008 — Uncategorized
Six auto-makers have confirmed they will proceed with eco-car production plans despite the government’s recent focus on support for E85 cars, Thai Automotive Industry Association senior vice president Piengjai Kaewsuwan said yesterday.
After having granted tax incentives for the eco-car projects, the carmakers are now worried about tax incentives announced by the Samak government for E85-compatible vehicles, because this will encourage importation of the biofuel-driven cars, Piengjai said.
The Board of Investment has granted tax incentives to six eco-car projects being undertaken by Toyota Motor Thailand, Honda Automobile (Thailand), Siam Nissan Automobile, Mitsubishi Motor (Thailand), Suzuki and India’s Tata Motors. Investment in the six projects amounts to Bt43.44 billion.
Piengjai, who is also an executive of Nissan Motor Thailand, said the six auto-makers would go ahead with investment in their eco-car production plants, with plans to begin production in 2010, except Toyota, which will start production in 2012.
Eco-car production will boost the Thai economy and create employment opportunities, because of the high level of investment from the six companies.
This will lead to Thailand becoming the Detroit of Asia and joining the top 10 car-producing countries in the world by 2011, when the Kingdom expects to produce 1.8 million vehicles.
More than 50 per cent of eco-car production will be exported, she said.
Suvit Tia, a lecturer at King Mongkut’s University of Technology Thon Buri, said the E85 tax incentives would create a shortage of vehicle materials.
The government should give more support to eco- and hybrid cars rather than promote E85, because Thai drivers are already able to use E20 gasohol.
Oil companies are also unhappy about selling E85, as they will have to invest between Bt1.5 million and Bt3 million at each station that serves E85, which is high investment catering to low demand, he said.
Source : Nation news
Share This
October 7th, 2008 — Bajaj, Renault, nissan
The Singur pullout may affect the fate of the Bajaj-Renault-Nissan ultra low-cost car project as well.
According to sources in the vendor circuit, a number of Nano suppliers, who are also common to the Bajaj project, are now “nervous” because of the tight financial conditions and the Singur decision. “Obviously they are affected and waiting for some clarification from the Tatas before they make definite commitments in terms of further investments,” said a top industry source.
Sources say that that’s primarily the reason why the investments for the ultra low-cost car (ULC) project have not been finalised as yet. “A lot of the Nano suppliers were already two and three-wheeler vendors and so known to Bajaj Auto,” said a senior vendor source. As a result they were also picked for the ULC project. However, the financial turbulence and tight liquidity position, along with the sluggishness in the auto market, seriously restricted their financial elbow room. “And the Singur pullout didn’t help either,” said the vendor source.
Sources say the Bajaj-Renault-Nissan team will likely sit with their vendors shortly to check out just how much their willing to invest in the ULC project given their current confidence and liquidity levels.. “Vendors will negotiate for some financial backing from Bajaj Auto which in turn will determine the ULC project cost,” said the source.
Sources also said that since the ULC’s targeted debut date is early 2011, the feeling is that there’s still time to finalise financial details. The Nano’s performance and the volumes notched up by it will also be taken as feedback to determine finer details of the ULC project.
Although a sub-$3000 car like the Nano, the ULC, say sources, will strive to be totally different and Bajaj officials have maintained that it will offer higher mileage and may not be priced similarly either.
However, like the Nano, the ULC platform too will build in all possible fuel options including gasoline, diesel, hybrid and electric. The ULC greenfield plant is coming up at Chakan near Pune.
Source:indiatimes
Share This
October 7th, 2008 — Auto show / Motor Show, electric vehicle
The Chinese were largely noticeable by their absence at the Paris Show this year but there may well have been a Chinese vehicle of significance—it’s a very cute electric city car named the “Chika”.
Chika is the work of well known Chinese car stylist Li Shi Guang Ming, who is working on a range of original designs for China Automobile. The designer believes the Chika represents the first steps toward an original Chinese automotive design language—and this could help China Automobile quickly shake off the “bootleg” image.
Share This
October 7th, 2008 — China Automotive Movement News
From:Gasgoo.com via China Daily October 08, 2008
China’s auto sales saw only a slight rise during the weeklong National Day holiday, also known as golden week, after having experienced a two-month downturn as a result of rising raw material prices, slumping stock market, soaring consumer price index (CPI), and the deepening US financial crisis.
Over the course of the seven days, auto sales in Beijing saw a one-fold increase year-on-year, said an unnamed source of Beijing Asian Games Village Auto Market to China Business News. The passenger flow at the village was almost 10,000 per day, and the daily sales volume was about 100, according to statistics from the auto market.
This rise is related to major promotion strategies from automakers and auto dealers. Because sellers’ hopes are placed on golden week, the vital period of a fourth quarter for achieving 2008 sales goals, they exerted all their strength to boost sales during the holiday.
In Beijing, more than 30 auto dealers have made price reduction between 5,000 yuan ($731) to 50,000 yuan. Vehicles reduced by 10,000 yuan accounted for as much as 60 percent of sales. Moreover, manufacturers launched new models aggressively for golden week, with more than six or seven stylish cars issued a week before the National Day holiday.
The golden week brought more passengers for auto markets in Shanghai, Guangzhou, Chengdu and elsewhere. Sales volume in those areas, however, was the same as usual, or worse.
Reports in China Business News also suggest that insiders are not optimistic about brisk sales during the holiday. About 90 percent of car purchasers in the Asian Games Village market were from the neighboring provinces of Beijing, and the policy of editing your own license number did not stimulate demand, said GuoYong, a business information manager at the auto exchange.
Jia Xinguang, an auto analyst, said the National Day holiday mainly benefits the tourism industry. He said sedan cars, as large consumer goods, cost a great deal of money; consumers are rational these days, and so they are not easily tempted by promotional price reduction. He added it will still take a long time for the auto market to recover from the slowdown.
Share This
October 7th, 2008 — ford, mazda
The new Ford Flex and upgraded Mazda CX-9 now rank among the top five three-row SUVs tested by Consumer Reports, the magazine reports in its November issue, which goes on sale today.
The Flex and CX-9 trail only the Toyota Highlander Hybrid, the conventional Highlander, and the Acura MDX in Consumer Reports’ ratings of 17 midsize models. Meanwhile, the redesigned Honda Pilot fell from one of the top-rated vehicles in the category to No. 11, with the GMC Acadia, Saturn Outlook, Hyundai Veracruz, Buick Enclave and Ford Taurus X nudging it out of the top 10 in the field of 17.
The magazine ranked the Flex No. 4 on its list with high marks for its ride; “quiet, well-finished interior”; “vast rear-seat room,” flexibility and optional SYNC electronics package. The seven-passenger vehicle earned low marks for driving position, turn circle and “so-so” braking distances.
“Ford’s new Flex wraps a versatile, cavernous interior in a distinctly boxy styling,” the magazine writes. “It is also lower and more wagon-like than the others in this class.”
Continue reading →
Share This
October 7th, 2008 — Automotive Accessories review
Pneumatic Action Removes Oxygen Sensors. Use this set with an air hammer to remove stubborn baked-on oxygen sensors. The pneumatic action works where conventional sockets wont. The compact design allows easy access under the hood. To install sensors use the socket only with a 3/8 drive ratchet.
Share This
