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AUTOS' WORLD NEWS - Condenseds -
* GM board to consider dividend and pay cuts, seat for York
DETROIT,Mich,USA -Automotive News -5 Feb 2006: General Motors’ board on Monday will consider plans to cut the automaker's dividend by as much as 50 percent, cut the salaries of top executives and give a board seat to Jerry York... According to sources familiar with GM's plans, the board is considering a number of proposals originally put forth by York. He represents Las Vegas billionaire Kirk Kerkorian, who owns 9.9 percent of GM’s shares...
* Zetsche slices and dices in Stuttgart
Stuttgart,Germany -The Car Connection -Feb 6, 2006: In an effort to right the wrongs of the Jurgen Schrempp era, it's been reported that Zetsche will chop 8,000 jobs at Mercedes-Benz by mid-year and thin out another 6,000 DaimlerChrysler jobs worldwide by 2008. Now, according to Zetche has announced that he has no problem publishing the salaries of his board members -- something taken for granted in the United States but a new, and somewhat contentious, development in German corporate law. For stockholders that have seen their dividends plummet during the Schrempp era, let's hope Dieter scores some brownie points with all of these new efforts...
* Ford offers $100,000 buyouts
Ill,USA -The Detroit News, by Bryce G. Hoffman -Feb 07, 2006: Some factory workers could get payouts in exchange for giving up all benefits except pensions... Ford Motor Co. is preparing an array of severance packages -- including a $100,000 one-time payout -- for workers whose plants are slated to close as part of the automaker's massive new restructuring plan, according to company officials...
* DCX plant shows way of future
BELVIDERE, Ill.,USA -The Detroit News, by Josee Valcourt -Feb 02, 2006: Changes at Ill. factory offer glimpse into how Chrysler plans to catch up with Asian rivals... Giant presses at Chrysler's assembly plant here produced just one steel door panel at a time when the defunct Dodge Neon was built. And changing robotic welding guns to assemble a different part took weeks... Today, four door panels can be built at once and tooling changes take just hours... In the past, rigid job classifications restricted workers to specific duties...
* New car sales soar in Germany, drop in Britain
FRANKFURT,Germany -Reuters (UK) -6 Feb 2006: New car sales in Germany soared 11 percent in January but fell over 13 percent in Britain as Europe's two biggest auto markets raced apart at the start of what could be another tough year...
*Mercedes-Benz sales rise in January, Smart falls
FRANKFURT,Germany -Reuters -6 Feb 2006: Unit sales at DaimlerChrysler's premium Mercedes Car Group division edged up 1.1 percent in January to 72,700 vehicles as higher turnover at its core Mercedes-Benz brand offset weaker sales at its Smart unit...
* Volkswagen boosts sales in Germany in January
FRANKFURT,Germany -Reuters -7 Feb 2006: Volkswagen, the world's fourth-largest carmaker, enjoyed strong sales in Germany last month, outperforming a firmer domestic auto market, the country's motor vehicles department KBA said on Tuesday...
* Audi brand car sales rose 26.7% in January
FRANKFURT,Germany -Reuters -6 Feb 2006: Car sales at Volkswagen's premium unit Audi AG rose by more than a quarter in January thanks in particular to strong demand in China, Audi said on Monday. Global deliveries to customers increased 26.7 percent to more than 69,400 cars...
* Continental AG unit acquires Danish rubber firm
FRANKFURT,Germany -Reuters -6 Feb 2006: German automotive supplier Continental AG's ContiTech unit has bought Denmark's Roulunds Rubber Group for an undisclosed sum...
* Czech watchdog cancels Skoda fine, probe continues
PRAGUE; Czech -Reuters -6 Feb 2006: The antitrust office (UOHS) has cancelled a 55 million crown ($2.3 million) fine against Volkswagen AG unit Skoda Auto, returning the case for further investigation...
* Scania Q4 eases market worries
STOCKHOLM,Sweden -Reuters -6 Feb 2006: Scania reported fourth-quarter pretax profit above market expectations and said order bookings in its key Western European market were up 15 percent year-on-year, sending its shares higher. Quarterly pretax earnings at Europe's number four truck maker rose to 2.17 billion crowns ($280.7 million) from 2.13 billion a year earlier...
* Nissan to spend $40 million on new paint system
TOKYO,Japan -Reuters -6 Feb 2006: Nissan Motor Co., Japan's second-biggest auto maker, will spend 5 billion yen ($40 million) on a new, compact paint coating system that it said would boost both production and energy efficiency by 15 percent...
* Nissan changing U.S. benefits plans
Houston,TX,USA -The Houston Chronicle -6 Feb 2006: Nissan Motor Co. said it will limit health care coverage for retirees from its U.S. manufacturing plants and will no longer pay a guaranteed monthly pension to new hires in the U.S. The company is the first ...
* Nissan to lose 20% of top managers
Detroit,Mich,USA -The Detroit News -7 Feb 2006: A fifth of Nissan Motor Corp.’s top North American managers will leave the company when it moves its U.S. headquarters to Tennessee this summer, including the senior executive for product planning and the chief product spokesman...
posted by Unknown @ 11:44 AM
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