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AUTOS' WORLDWIDE
* USA - Ford, Chrysler extend offers to clear lots - Five-year no- or low-interest loans will be offered on some 2006 models to free up room for 2007s
Detroit,Mich,USA -The Detroit News, by Josee Valcourt -Nov 03, 2006: -- Ford Motor Co. and DaimlerChrysler AG's Chrysler Group are extending five-year no-interest and low rate-loan offers on some 2006 models to clear out old inventories and make way for 2007 models... Nearly 30 percent of vehicles sitting on Ford dealer lots are 2006 models, while older inventory accounts for 45 percent of the cars and trucks on Chrysler, Dodge and Jeep lots...
* USA - Mulally: Ford Had No Business Plan
USA -Fortune magazine -2 Nov 2006: -- Ford's turnaround is in progress, but new CEO Alan Mulally says a key part of the turnaround is missing. That's why he's drafting a business plan for the company, which apparently hasn't had one to steer its efforts... Mulally told that he found Ford has meetings down pat-product meetings, quality meetings, production meetings-"but what we didn't have was a business plan... And so, we started with a business plan here," he said. The newly minted CEO also said the company is not well integrated on the global level, and that he's initiated meetings each week to foster that process...
* Germany - BMW third quarter pretax profit lags expectations
FRANKFURT,Germany -Reuters -2 Nov 2006: -- BMW's third-quarter pretax profit rose 9.4 percent but missed market expectations of gains versus a weak year-earlier quarter, when the automaker absorbed a big loss on an exchangeable bond option. Pretax profit at the world's biggest premium carmaker increased to $919 million (720 million euros)...
* Japan - Mazda lifts forecasts as second quarter profit jumps
TOKYO,Japan -Reuters -2 Nov 2006: -- Mazda Motor Corp. posted a 55 percent surge in quarterly operating profit today as a weak yen and sales expansion in the West offset slumping domestic demand, and it bumped up its annual forecasts beyond market projections...
* France - October new car registrations rise
PARIS,France -Reuters -2 Nov 2006: -- French new car registrations in October rose 8.4 percent, the first rise since March's 0.1 percent blip, but the CCFA industry body said today that this did not signal a rebound in Europe's fourth-largest car market...
* China - Nissan unveils Infiniti brand in China
BEIJING,China -Reuters -2 Nov 2006: -- Nissan Motor Co. today unveiled its Infiniti luxury brand in China, a market that is increasingly becoming saturated in the premium segment. The first models under the Infiniti brand will go on sale in China next summer, Nissan (China) Investment President Yukihisa Kayashima said...
* Romania - Renault to build $574.7 million design center
BUCHAREST,Romania -Reuters -1 Nov 2006: -- French carmaker Renault, which owns Romanian auto producer Dacia, plans to invest $574.7 million in a design and development center in southern Romania, the government said today...
* Germany - Continental third quarter profit misses forecasts
FRANKFURT,Germany -Reuters -1 Nov 2006: -- German tire and car parts maker Continental AG posted lower-than-expected underlying operating profit for the third quarter, as raw material costs and cuts in automotive industry production weighed on results...
* Japan - Suzuki Motor second quarter profits jump
TOKYO,Japan -Reuters -1 Nov 2006: -- Suzuki Motor Corp. booked a 21 percent jump in quarterly operating profit today, driven by a weak yen and strong sales in India and Europe, and lifted its full-year forecasts...
* Japan - Bridgestone third quarter profit tanks on higher costs
TOKYO,Japan -Reuters -1 Nov 2006: -- Top Japanese tire maker Bridgestone Corp. posted a 34 percent slide in third-quarter operating profit today, hit by a spike in rubber, crude oil and other materials prices, but stuck to its full-year forecasts with help from a weaker yen...
* South Korea - October auto sales up 5.8 percent on exports
SEOUL,S.Korea -Reuters -1 Nov 2006: -- Sales at South Korean automakers rose 5.8 percent in October, thanks to healthy exports, but Hyundai Motor Co. said its sales fell due to extended public holidays last month. Analysts said the results posted today were positive, given the fewer business days in October compared to a year earlier...
* Japan - Is Toyota Building Two More Plants?
Tokyo,Japan - Associated Press/Mainichi daily -Oct. 30, 2006: -- Toyota may be planning for two additional factories in North America... A report says the largest Japanese automaker may be planning its next expansion even as it preps its new San Antonio plant to build Tundra pickups. The new plants would build compact cars and SUVs, the report says. The first could be a new plant in the upper Midwest that could build up to 200,000 Yaris subcompacts and could be ready for business in 2009. The other plant would also be located in North America and would be ready for production of small SUVs by 2010. The decision on where to build the plants could come by the end of the year...
posted by Unknown @ 4:06 PM
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