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AUTOS' WORLD NEWS -
* German - DaimlerChrysler staff face fresh bribe probe
BREMEN, Germany -Reuters -June 14, 2006: -- Prosecutors in the northern German city of Bremen have searched several suspects' homes and offices in a fresh corruption probe at DaimlerChrysler, a justice department spokesman said on Wednesday... The investigation of possible breach of trust and bribery targets 11 company staff as well as employees of construction firms suspected of billing the car plant in Bremen for work performed on Mercedes-Benz staff's private homes, he added...
* German car dealer group Georg von Opel insolvent
Frankfurt,Germany -Automotive News -12 June 2006: -- Georg von Opel, one of Germany's biggest car dealers, sought court protection from creditors on Monday while it implements a restructuring plan to rescue its outlets and save most of its 750 jobs... The group with 27 dealerships said in a statement it had filed an insolvency plan with a court in Frankfurt that seeks to cut costs and make operations more efficient...
* Japan - GM and Isuzu to create JV for small pickup trucks
Tokyo,Japan -Reuters -13 June 2006: -- U.S. auto giant General Motors Corp. and Japanese truck maker Isuzu Motors Ltd. said on Tuesday they will form venture to oversee the joint development of next-generation pickup trucks... Both companies issued press releases announcing the 50-50 venture, which will be called LCV Platform Engineering Corp. and is to be fully operational by September. It will be based at Isuzu's engineering centre in Fujisawa, south of Tokyo...
* Japan - Honda recalls 561,594 vehicles
Tokyo,Japan MSNBC (USA)/Associated Press -14 June 2006: -- Honda Motor Co. is recalling over 561,000 vehicles in three models to replace a faulty part used in starting an engine, a company official said Wednesday... Subject to the recall are 217,953 Odyssey minivans, 141,652 CR-V sport-utility models and 123,580 Step Wagon minivans, said Honda spokeswoman Yu Kimoto...
* Japan - Suzuki to stop GM output after current model
Tokyo,Japan -Yomiuri Shimbun newspaper/Reuters -12 June 2006: -- Suzuki Motor Corp. plans to stop production of the Chevrolet Cruze car at the end of the model's life and dissolve a pact to sell Chevrolet-badged vehicles at its domestic outlets, reported on Sunday, June 11...
* Malaysia - Mahindra keen to assemble pick-up trucks in
Malaysia -Business Times, by Francis Fernandez -June 14 2006: -- DRB-HICOM Bhd, the country's largest integrated automotive company, has received a proposal from Mahindra & Mahindra Ltd, India's biggest sports utility vehicle (SUV) and truck maker, to assemble pick-up trucks in Malaysia, people familiar with the matter said yesterday...
* GM sees first Russian-built SUVs in September
ST. PETERSBURG, Russia -Reuters -12 June 2006: -- General Motors started building a new car plant in Russia on Tuesday as it faced strikes in western Europe by workers convinced it will shift production to low-cost eastern Europe...
* USA - Group says stability systems boost auto safety
WASHINGTON,DC,USA -Reuters -12 June 2006: -- An electronic system that helps stabilize a vehicle when it is about to run off the road or roll is more effective than first thought and could prevent nearly a third of all fatal crashes and up to 10,000 deaths annually, an insurance group estimates...
* Hungary - Audi to invest $1.26 billion over 5 years
GYOR, Hungary -Reuters -13 June 2006: -- The Hungarian unit of German premium car maker Audi AG said it would boost production of its TT sports model to over 50,000 units a year and invest $1.26 billion (1 billion euros) in Hungary in the next five years...
* Nissan to build $200 million car plant in Russia
ST PETERSBURG, Russia -Reuters -13 June 2006: -- Nissan Motor Co., Japan's second-largest car maker, will build a $200 million plant in St Petersburg after signing a deal on Tuesday with Russia's Economy Ministry. Nissan would aim to produce 50,000 cars a year by 2009 at its first Russian plant...
* Toyota Says Hybrids Will Double
Japan -Wall Street Journal -14 June 2006: -- Toyota is reconfirming its plans to greatly increase its presence in the hybrid market. The company's president, Katsuaki Watanabe, promises Toyota will double the number of hybrids it offers shortly after the start of the next decade. Previously said it would expand the presence of gas-electric vehicles in its lineup but had not made its plans more specific. Watanabe also said Toyota will continue to study if plug-in hybrids would make sense in his company's lineup, and confirmed that Toyota will develop an ethanol-compatible vehicle for sale in Brazil by early next year...
* Italy - Fiat confirms Ferrari unit will not be listed on stock exchange
MILAN, Italy -The Detroit News/Associated Press -June 14, 2006: -- Italian automaker Fiat SpA will not sell shares in its majority-controlled luxury car brand Ferrari in a stock market listing, the company confirmed Wednesday... Analysts have estimated that Ferrari could be worth up to 1 billion euros ($1.26 billion) to Fiat, which in the past has considered an initial public offering...
posted by Unknown @ 11:05 AM
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