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AUTOS' WORLD NEWS
* USA - When cargo gets lost at sea firms can see big shortages, lossesUSA -USA Today, by Sharon Silke Carty -2 Aug 2006: -- A dramatic cargo ship accident off the Alaskan coast last month highlighted a hard-to-track risk to doing business overseas: Problems at sea can result in big losses for companies relying on the products on board... For Japanese automaker Mazda, last month's incident could mean the loss of nearly 4,800 cars and trucks headed for Canada and the USA. Although that's only a sliver of Mazda's annual sales, if the cars are damaged, there could be a shortage of some of its more popular models... (PICTURE: The Singapore-flagged Cougar Ace listed in late July off Alaska's Aleutian Islands. Officials are still trying to save it)
* USA - As gas prices rise, consumers explore other options - Sales of MID-size SUVs fall, but FULL-size sales hold on
DALLAS,TX,USA -Dallas Morning News, by Terry Box -Aug. 04, 2006: -- As fuel prices soar, big sport-utility sales sink -- or so the story typically goes... But, ... the full-size versions that became popular in the mid-1990s have largely overshadowed them... Full-size SUVs have more space, cargo capacity and cachet. And most full-size SUV buyers care more about interior space and cargo capacity than fuel consumption, so the mid-size SUVs are not an option when gas prices shoot up, some analysts say...
* USA - Ford Recalls 1.2 Million Trucks, DCX 800K Jeeps
DEARBORN, Mich.,USA -Edmunds.com/Inside Line (Santa Monica,CA) -4 Aug 2006: -- Ford Motor Co. will recall 1.2 million trucks, vans and SUVs from model years 1994-2002 because of a threat of engine fires... The threat is related to possible corrosion of a speed control deactivation switch system causing overheating... The recall does not affect diesels, but does cover all trucks with speed control and running on gasoline or natural gas...
* UK - Ford may sell UK Land Rover, Jaguar arms
LONDON,UK - The Sunday Times/Reuters -August 7, 2006: -- Ford Motor Co. may sell Land Rover and Jaguar as part of a shake-up of its British brands... said it was understood that Ford's senior management, led by Chairman and CEO Bill Ford Jr., was considering packaging the two marques together and selling a majority stake to a financial investor... The paper said banking sources had also said, however, that it was still not certain that Ford would part company with Jaguar and that there was a chance it would be retained, but with reduced production and a concentration on exclusive luxury sports cars...
* USA - Toyota settles sexual harassment lawsuit
Detroit,Mich,USA -The Detroit News, by Christine Tierney -5 Aug 2006: -- Toyota Motor Corp. has settled an embarrassing sexual harassment lawsuit filed by an assistant to one of the Japanese automaker's highest-ranking executives in the United States...
* Brazil - July flex-fuel car sales set monthly record
SAO PAULO, Brazil -Reuters -7 Aug 2006: -- Sales of Brazilian flex-fuel cars, which run on any mix of gasoline or ethanol, set a monthly record in July and were up 71 percent on the year, the National Automobile Manufacturers Association (Anfavea) said on Monday...
* Germany - GM Europe: July vehicle sales fall 1.6%
FRANKFURT,Germany -Reuters -7 Aug 2006: -- General Motors' vehicle sales in Europe fell 1.6 percent in July, led lower by the Opel brand, but GM still gained market share, the world's biggest carmaker said on Monday...
* S. Korea - Hyundai, Kia profits hit by weaker local sales
SEOUL,S.Korea -Reuters -7 Aug 2006: -- Hyundai Motor Co., South Korea's top automaker, posted a worse-than-expected 37 percent drop in second quarter net profit on weaker domestic sales, a strong local currency and high raw material costs...
* USA - McKinsey study predicts continuing decline in TV selling power
-Reuters -7 Aug 2006: -- A study is about to give Madison Avenue a fresh pummeling: McKinsey & Co. is telling a host of major marketers that by 2010, traditional TV advertising will be one-third as effective as it was in 1990...
* USA - Lawsuit: Hyundai chokes in the clutch - Owners say company won't cover transmission defect
USA - Automotive News -7 August 2006: -- A lawsuit filed against Hyundai Motor America alleges that the automaker installed faulty clutches in 2003 model Tiburon coupes but refuses to honor warranty claims for them. The suit contends that Tiburon owners had warranty claims that were denied on manual-transmission vehicles with less than 30,000 miles on the odometer...
* USA - Kerkorian and York are gamblers, not builders
Washington,DC,USA -The Washington Post, by Warren Brown -August 05, 2006: -- Kirk Kerkorian did quite well last week. He's the investor who holds 56 million shares, an estimated 9.9 percent, of General Motors Corp., the world's largest automobile manufacturer... Kerkorian and his representative on GM's board, Jerome York, have been upset with the car company of late, so much so that they have attempted to engineer the ouster of Rick Wagoner, the chairman and chief executive... Of course, the two corporate buccaneers aren't so bold as to state their intentions exactly that way. Publicly, they say that the once-struggling, now-recovering GM could benefit from a tie-up with Japan's Nissan Motor Co. and France's Renault SA, both of which are run by management wunderkind Carlos Ghosn... Kerkorian and York would love to see Ghosn at GM's helm, not so much because that management change would do anything meaningful for GM, Nissan or Renault, but because the simple announcement of a Ghosn takeover could boost GM's stock value, a development that would make billionaire Kerkorian and, by proxy, York, richer than they already are...
posted by Unknown @ 5:04 PM
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