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AUTOMAKERS' short news
* GM, Ford March U.S. sales fall
DETROIT,Mich,USA -(Reuter, by Poornima Gupta -Apr 5, 2006: -- General Motors Corp., and Ford Motor Co., posted lower March U.S. sales on Monday, as consumers favored Asian vehicles and the top two U.S. automakers held back on less-profitable fleet sales... DaimlerChrysler AG's Chrysler unit, was the lone Detroit automaker to post a sales rise, of 2 percent... U.S. sales dropped 14.6 percent for GM -- its biggest slide since October -- and 4.5 percent for Ford, despite leading the industry in offering hefty consumer rebates last month...
* GM could be crippled by Delphi strike
Chicago,Ill,USA -The Chicago Tribune, by Rick Popely and Jim Mateja -Mar 30, 2006: -- General Motors Corp. depends so heavily on Delphi Corp. to supply parts for its vehicles that it cannot afford to face a Delphi strike for more than two weeks without the risk of shutting down all of GM's production, analysts say... If union workers strike Delphi, some critical parts could run out in a matter of days, halting production at some GM plants. All of GM could grind to a halt in a week or two, said Catherine Madden of industry forecaster Global Insight...
* Is GM pushing offshore outsourcing?
USA -autoserviceworld.com -6 Apr 2006: -- According to reports in a Detroit newspaper, some of U.S. auto giant General Motors Company's parts suppliers, are being sent a very clear, if not explicit message: outsource to cheap labour nations, or lose the business altogether... After an internal investigation by GM, it was learned that a single employee sent out the policy in question and had suggested that suppliers find parts form a list of countries such as China and Namibia...
* GM chief plans keep all key jobs, at least until reforms done
DETROIT,Mich,USA -The Detroit Free Press, by Michael Ellis -5 Apr 2006: -- Exactly one year after taking day-to-day control over General Motors' troubled North American operations, GM Chairman and CEO Rick Wagoner said Tuesday that he needs to keep the job during the current restructuring, but not for long...
* GM rivals roll out incentives
DETROIT,Mich,USA -The Detroit Free Press, by SARAH A. WEBSTER -5 Apr 2006: -- Dodge, Toyota, Ford offering deep discounts ahead of new Silverado, Sierra releases... General Motors Corp.’s new full-size pickups, which are headed for an early release this fall, seem to have the competition running scared — and heaping thousands of dollars in discounts on their trucks... The Chevrolet Silverado and GMC Sierra, which will be built off GM’s crucial new GMT900 platform, are scheduled for release in the fall and might be the most awaited — and feared — new vehicles in years...
* And finally, GM's Wagoner: "Now is not time to panic"
USA -crossingwallstreet.com, by Eddy Elfenbein -5 Apr 2006: -- When asked whether anybody had been disciplined for the new accounting problems, he said, "I've never been a big believer in public executions. Having said that, we have a pretty proactive woodshed."... However, no executives have lost their jobs, GM spokesman Jerry Dubrowski said...
* Bankruptcy news - USA - Bill Ford rules it out
USA -crossingwallstreet.com, by Eddy Elfenbein -5 Apr 2006: -- Ford Motor Co. Chairman and CEO Bill Ford said Wednesday that bankruptcy isn't an option for the nation's No. 2 automaker, which is struggling to return its North American division to profitability... Nonetheless, Ford's North American division lost $1.6 billion last year, and the automaker's debt rating has been slashed to below investment grade. Ford also is steadily losing U.S. market share. The company now has around 18 percent of the U.S. market, down from 26 percent a decade ago...
* Sweden's Volvo Eyes Future Acquisitions Apr 5th
GOTEBORG, Sweden -wtopnews.com (Washington,DC,USA)/AP -5 Apr 2006: -- Swedish bus and truck maker AB Volvo will consider making major acquisitions as the industry moves toward increased global consolidation, Chief Executive Leif Johansson said... He did not specify what kind of acquisitions the company may consider, but Volvo is increasingly looking to Asia and particularly to China for growth of its key truck business. Last month it will buy 13 percent in Nissan Diesel Motor Co. Ltd. from Nissan Motor Co. Ltd. for 1.5 billion kronor ($195 million)... Volvo also said it will investigate possibilities for cooperation with China's largest truck maker, Dongseng Motor Co. Ltd... Dongseng has around one-third of the Chinese market in both heavy and medium heavy trucks...
posted by Unknown @ 11:56 AM
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