| //10-11-2009 In the 1920s, Alfred Sloan, who was the president of General Motors at the time, committed the automaker to the annual model change. But today, model changes are far less frequent than annual, and a recently released economic research paper argues that Detroit automakers have suffered because of it. Detroit’s share of the auto market fell from roughly 73 percent in 1996 to 47 percent in 2008.
Written by three economists at the Virginia Commonwealth University School of Business, in Richmond, Va., and published by the Journal of Business Research, “Non-Price Determinants of Automotive Demand: Restyling Matters Most” argues that Detroit has lost market share because it does not change its cars often enough. |
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| //10-11-2009 The Groupama Insurance Group confirmed today that it will enter the next two editions of the Volvo Ocean Race with its long term French skipper, Franck Cammas, a commitment that will last until 2015.
The announcement was made as Cammas was in the French port Le Château in Brest, preparing to set off on a bid to conquer the Jules Verne Trophy aboard the 32-metre maxi trimaran. The chosen designer for Groupama's new boat is Argentinean Juan Kouyoumdjian, the designer of the winning boats in the last two editions of the Volvo Ocean Race.
"It's now been over 12 years that Groupama and Franck Cammas have worked together as a team. Today, we have decided to continue this commitment by participating in the Volvo Ocean Race to inspire a more international dynamic in our common project," said Frédérique Granado, director of external communications at Groupama. |
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 | //09-11-2009 Gasoline prices have been steady and low -- even the traditional summer price hike didn't happen this year -- and the prolonged beat-down of fuel prices is combining with a slow auto market to short-circuit sales of fuel-sipping hybrid-electric vehicles.
Not long ago, hybrids were one of the auto industry's hottest tickets. And during the recent Cash-For-Clunkers federal rebate program, the high-mileage hybrids were popular because they made it easy to maximize the Clunker rebate.
But the Cash-For-Clunkers program proved to be what many critics suspected: a temporary shot in the arm. So despite Cash-For-Clunkers demand there are a lot of leftover 2009 models. And with new 2010 models already shouldering their way onto dealer lots, automakers are piling on incentives in the hope of clearing out leftovers -- even hybrids. |
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| //09-11-2009 New Delhi, Nov. 9 The entry of SAIC Motor Corporation (better known as Shanghai Auto) into the Indian market a few weeks from now is a clear signal that the Chinese are serious about going global.
SAIC is learnt to have finalised a deal with General Motors where it will pick up a 50 per cent stake in its Indian arm. In the process, the company will bring to this part of the world light commercial vehicles which will compete with established players such as Tata Motors, Mahindra & Mahindra and Piaggio.
Just a few weeks earlier, Premier Ltd (the former Premier Automobiles, one of India’s old carmakers) entered into a pact with the Zotye group of China to put together and retail its compact sport-utility vehicle in India. While the product will sport the Premier badge, Zotye will also end up building its brand here in the process. |
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| //09-11-2009 Dr Susan Solomon is one of the world's leading atmospheric chemists and is in Sweden to receive the Volvo Environment Prize 2009 on 5 November in Stockholm. The prize, this year worth SEK 1.5m (approx. ˆ 150 000), is celebrating its 20th anniversary. It has become one of the science world's most respected environmental awards. |
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| //02-11-2009 Employees of Chrysler Group LLC could be forgiven for being wary of their new Italian bosses.
Detroit's No. 3 carmaker has been under European rule before -- but the culture clash was too great, and the merger that created DaimlerChrysler AG ended badly.
Workers are more encouraged about their partnership with Italy's Fiat SpA. |
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 | //02-11-2009 PARIS/DETROIT (Reuters) - As automakers, parts suppliers and car retailers ready business plans for next year and beyond, the experience of the industry's 2009 crash has made caution the new byword.
For perspective, consider that AutoNation Chief Executive Mike Jackson now counts as an optimist in an auto industry still reeling from a collapse few saw coming. |
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| //02-11-2009 TOKYO — Japanese car makers Suzuki, Daihatsu and Fuji Heavy Industries on Monday raised their outlooks for the current financial year in the latest sign of an emerging recovery in the troubled industry.
Suzuki Motor said net profit fell 63 percent in the fiscal first half from a year earlier to 12.5 billion yen (140 million dollars), due to weak sales.
But the manufacturer of small cars and motorcycles boosted its forecast for the rest of the financial year to March 2010, saying the interim results were not as bad as expected, partly due to cost cuts.
Suzuki, which owns a major stake in India's largest carmaker Maruti Suzuki India, projected an annual net profit of 15 billion yen, up from a 5.0 billion yen profit it had forecast in May.
"I think we still have a good chance to grow in India and China," Suzuki chairman and president Osamu Suzuki told a news conference. |
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| //02-11-2009 DETROIT — The Ford Motor Company on Monday posted a surprise third-quarter profit of $997 million and said it had its first profitable quarter in North America in more than four years. |
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| //02-11-2009 Workers at Ford Motor Co. have overwhelmingly rejected an agreement negotiated between the company and the United Auto Workers last month, creating a new challenge for the Dearborn automaker and raising serious questions about the future of labor relations in the troubled industry.
The last votes are being cast Sunday, and the union will not release official totals until voting is completed. But voting results from locals nationwide make it clear the deal -- meant to match concessions the union negotiated with General Motors Co. and Chrysler Group LLC during their recent, government-mandated bankruptcy reorganizations -- failed to win approval from rank-and-file members by a wide margin. |
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| //17-10-2009 The all-new 2010 Acura ZDX will make its auto show debut as a production model on October 15, 2009, at the Orange County Auto Show. Arriving this winter at Acura dealerships, the ZDX features dramatic styling, outstanding performance and the latest in advanced technology. The segment bending ZDX has stunning coupe-like styling with the added benefit of a commanding presence and flexible utility.
Designed, developed and manufactured entirely in North America, the ZDX is the first vehicle to be styled from start to finish in the new, dedicated Acura Design Studio in Torrance, California. Staying true to the original sketch from Acura's first female designer, Michelle Christensen, the ZDX features sensuous curves, deeply sculpted shoulders and strong character lines. |
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| //16-10-2009 Gil de Ferran's storybook retirement win, Patrón Highcroft Racing's LMP1 championship and Lowe's Fernandez Racing's record-tying eighth 2009 win were just some of the stories Saturday at Laguna Seca Raceway in the wild American Le Mans Series finale.
De Ferran, co-driving with young star Simon Pagenaud, hung up his racing helmet in dramatic fashion with a sensational overall win in the four-hour Monterey Sports Car Championships on the famed 2.238-mile road circuit. But it wasn't easy for de Ferran. |
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| //16-10-2009 Volvo Cars received two prestigious prizes at the annual Swedish Publishing Award ceremony in Stockholm last night. Volvo Cars' Corporate Report with Sustainability was rated as the top report in its category and Agenda Magazine was awarded the best in-house magazine in Sweden |
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| //16-10-2009 Anna-Maria Saméus, product manager at Volvo Cars, has been selected as Technological Woman of the Year 2009. She was given the award for her ability to combine technology and business-mindedness in an international environment, using leadership as a tool. The award is given by defence and security company Saab |
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 | //10-10-2009 General Motors Co., Toyota Motor Corp. and other automakers want to sell consumers electric cars powered by hydrogen within six years. Their plans clash with the U.S. government’s infrastructure priorities |
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| //10-10-2009 Toyota Motor Corp., General Motors Co. and other automakers are planning on selling consumers electric cars powered by hydrogen within the next six years. This plan clash with the U.S. government's infrastructure priorities. GM, Toyota, Honda, and Daimler all say they may be able to sell the zero-emission vehicles by 2015. Cost for the production of the cars have dropped from the $1 million mark a few years ago to the goal of slashing the premium for the cars to a few thousand more than a midsized gasoline model. |
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 | //10-10-2009 A series of complaints to federal regulators, and a recent highly-publicized accident that killed four people, forced Toyota to recall nearly 4 million vehicles this month. Investigators believe the accident may have been caused when the vehicle's accelerator pedal snagged on an improperly-secured floormat, causing the car to accelerate out of control. Toyota owners nationwide have been instructed to remove their drivers' side floormat, and Toyota dealers are installing zip-ties to restrain the floormats on vehicles remaining on their lots. |
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 | //10-10-2009 Ford Motor Co is getting close to a deal revising its contract with the United Auto Workers, according to a person briefed on six-week-old talks in which the automaker has aimed to gain concessions the union has already granted to GM and Chrysler.
Local officials representing U.S. hourly workers at Ford have been summoned by union leadership to Detroit on Tuesday for briefings on the talks over changes Ford seeks in its existing agreement with the UAW. Those talks started formally in late August. |
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| //03-10-2009 The end of the federal government’s Cash for Clunkers program marked the end of the temporary good times for automakers.
Sales in September plunged 23 percent, with General Motors and Chrysler hit the hardest and Ford doing a little better than expected, but still selling fewer cars than it did last September.
Automakers sold 745,997 vehicles in September, compared with 964,783 in 2008.
GM sales fell 45 percent to 155,679 cars and light trucks, while Chrysler sales slumped 42 percent to 62,197. |
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