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AUTOS' WORLDWIDE
* USA - Large investors sell parts of GM stock - Two big stockholders unload a combined 28%; several others increase their holdings, filings sayDETROIT,Mich,USA -The Detroit News/Associated Press, by Tom Krisher -August 17, 2006: -- Two of General Motors Corp.'s largest institutional investors have sold big blocks of the company's stock, but others have increased their holdings, according to regulatory filings... Capital Research & Management Co., a Los Angeles-based investment firm that is GM's second-largest investor, sold 19.2 million shares, or 24 percent of its holdings in the company, according to second-quarter reports filed earlier this week with the Securities and Exchange Commission... The company's third-largest investor, Brandes Investment Partners LP of San Diego, sold 2.4 million shares, or 4 percent of its holdings... But other investors increased their stakes in the world's largest automaker, including Credit Suisse, which bought 11.5 million shares; Fidelity Management & Research, which purchased 6.8 million; and Franklin Mutual Advisers LLC, which bought 4.6 million, according to Lionshares.com...
* USA - GM Shares Downgraded
USA -The Car Connection, by Jim Burt -Aug 15 2006: -- Wall Street firm JP Morgan downgraded shares of General Motors to "hold" from "overweight" on Thursday, saying the auto giant's stock price has largely recovered from the market's over-reaction earlier this year that sent shares lower than $20, and thus offers less of a buying opportunity...
* China - To power auto industry by expanding exports
Beiging,China -China News, Aug. 18, 2006: -- China is aiming to enlarge the exports of automobiles and auto spare parts as a way to become an auto industry power in the world, not only a big auto making country... The government plans to standardize the market order of the country's autos and auto parts export from the origin of the chain -- the producing phase. The government will control the export of completed vehicles producing firms by examining their qualifications and the business of the auto export firms by examining the authorization granted by automakers...
* Brazil's alcohol cars hit 2m mark
UK -BBC News -18 Aug 2006: -- The proportion of alcohol-driven cars in Brazil is increasing... Brazil's new generation of cars and trucks adapted to run on alcohol has just hit the two-million mark, motor industry figures show... "Flex-fuel" vehicles, which run on any combination of ethanol and petrol, now make up 77% of the Brazilian market... Brazil has pioneered the use of ethanol derived from sugar-cane as motor fuel... Ethanol-driven cars have been on sale there for 25 years, but they have been enjoying a revival since flex-fuel models first appeared in March 2003... (Photo, by BBC: The proportion of alcohol-driven cars in Brazil is increasing)
* S. Korea - Hyundai to begin building Czech plant in November
SEOUL,SK -Reuters -17 Aug 2006: -- Hyundai Motor Co., South Korea's top automaker, plan to start construction of a $1.3 billion (1 billion euro) car factory in the Czech Republic in November at the earliest, a company official said today...
posted by Unknown @ 5:26 PM
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