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AUTOS' NEWS WORLDWIDE
* USA - Ex-Delphi execs face civil fraud charges
Washington,DC,USA -The Detroit News, by David Shepardson/Bloomberg News -Oct 19, 2006: -- The U.S. Securities and Exchange Commission is expected to file civil fraud charges this month against up to a dozen former Delphi Corp. executives following a 27-month investigation into accounting fraud at the bankrupt Troy auto supplier, people familiar with the situation said... Among those expected to face civil charges are John Blahnik, the former Delphi vice president of treasury, mergers and acquisitions; Laura Marion, who had served as director of financial accounting and reporting; and Paul R. Free, former chief accounting officer, the people said...
* USA - Bankrupt Southfield firm Collins & Aikman ceases parts shipments to Mexico plant; Ford is 'disgusted.'
Detroit,Mich,USA -The Detroit News, by Bryce G. Hoffman -Oct 19, 2006: -- Bankrupt auto supplier Collins & Aikman Corp. bet its future on an almost unprecedented act of defiance on Friday when it briefly halted delivery of parts to a Ford Motor Co. plant in Mexico... In severe financial trouble, the Southfield-based company concluded it had little choice but to send a blunt message: Ford and other automakers can't expect to return to profit by driving suppliers out of business... Ford response was swift:...
* China - Ford's China partner expects third quarter net profit up 146 percent
SHANGHAI,CH -Reuters -18 Oct 2006: -- Ford Motor Co.'s Chinese partner, Changan Auto Co. Ltd., said today it expected a 146.32 percent jump in third quarter net profit from a year earlier. Net profit for the period is estimated at $67.4 million (533.3 million yuan) compared with 216.52 million yuan a year earlier, Changan Auto said in a statement...
* China - DaimlerChrysler's Asia car sales surge
SHANGHAI,CH -Reuters -18 Oct 2006: -- DaimlerChrysler AG sold 37 percent more cars in northeast Asia in the first nine months of 2006 than a year earlier, it said today. The auto giant sold 28,452 cars in the nine-month period compared with 20,728 a year earlier. Its northeast Asian region comprises mainland China, Hong Kong, Macau, Taiwan and South Korea...
* Japan - Suzuki Motor lifts first half outlook on strong sales
TOKYO,JAP -Reuters -17 Oct 2006: -- Suzuki Motor Corp. said today it would post a better-than-expected 18 percent rise in first-half parent profit, helped by strong overseas demand for its small cars as high oil prices push consumers toward more fuel efficient vehicles...
* China - Ford, Hyundai recall more than 151,000 cars in China
SHANGHAI,CH -Reuters -17 Oct 2006: -- The China ventures of Ford Motor Co. and Hyundai Motor Co. will recall a total of 151,397 locally made cars to fix defects, the companies said today...
* China - Honda's China sales growth lags foreign rivals
SHANGHAI,CH -Reuters -17 Oct 2006: -- Honda Motor Co.'s China vehicle sales rose 18.5 percent in the first nine months of this year, underperforming growth of the overall market and of other foreign automakers. Honda, maker of the Accord, Civic and Odyssey models, sold 225,974 vehicles in China during the period, up from 190,651 in the first nine months of 2005...
* China - GM says China sales up 36.7 percent
SHANGHAI,CH -Reuters -17 Oct 2006: -- General Motors said today its vehicle sales in China rose 36.7 percent in the first nine months from a year earlier, and expected sales for all of 2006 to jump 30 percent. GM sold 645,680 vehicles via its two local ventures in the January-September period...
* Japon - Nissan begins recalling SUVs because of ignition key defect
TOKYO,JAP -The Detroit News -19 Oct 2006: -- Nissan Motor Co. has begun recalling about 132,000 vehicles globally -- including 80,000 in North America -- because of an ignition key defect, a company official said Thursday...
* USA - How to sell 50 BMWs in 92 seconds
USA -Autoblog, by Stuart Waterman-19 Oct 2006: -- The BMW M6 convertible may be capable of 0-60 mph in 4.5 seconds, but luxury retailer Neiman Marcus found out Wednesday that the German drop-top is nearly as quick off the showroom floor, as it sold its entire stock of 50 limited edition M6 convertibles in a record-breaking 92 seconds... At $139,000 each, the ever-so-special BMWs rang the register at a rate of $75,543 per second, if only for a minute and a half...
* Italy - Fiat can't explain stock surge, denies sale of significant asset
ROME,IT -The Detroit News -18 Oct 2006: -- Italian automaker Fiat SpA said that it had no plans to sell assets and could not explain why its stock surged on Wednesday...
posted by Unknown @ 5:34 PM
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