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AUTOS' WORLDWIDE
* USA - Kerkorian to Reduce G.M. StakeNY,USA -The New York Times, by JEREMY W. PETERS -Nov 23, 2006: -- Kirk Kerkorian, the billionaire investor who agitated for change at General Motors after amassing nearly 10 percent of the company’s stock, said yesterday that he was selling one-quarter of his stake in the automaker... The move is the latest retreat by Mr. Kerkorian after his effort to spur an alliance among G.M., Renault and Nissan fell apart last month. Since then, Mr. Kerkorian has said that he is no longer interested in increasing the share that his investment firm, the Tracinda Corporation, has purchased in G.M... A top aide to Mr. Kerkorian, Jerome B. York, resigned from G.M.’s board in protest over management’s refusal to pursue the alliance, citing “grave reservations” about the company’s competitiveness and its management... (Photo by Jeff Haynes/Agence France-Presse — Getty Images: A sculpture of the fist of Joe Louis, the boxing champion, sits across from G.M. headquarters in Detroit)
* India - GM: Engine, powertrain plant in India possible
Talegaon,IND -Reuters -22 Nov 2006: -- General Motors is considering setting up an engine and powertrain plant in India, where it aims to expand rapidly, the president of GM Asia-Pacific said today. "We will make a decision in the next six months," Nick Reilly told reporters at a ground-breaking ceremony for the firm's second car making factory in India...
* Germany - DaimlerChrysler: Talks with China's Foton are ongoing
Frankfurt,GER -Reuters -22 Nov 2006: -- DaimlerChrysler remains in talks with China's Beiqi Foton Motor Co. about forming a truck joint venture but has not struck a deal yet. DaimlerChrysler's truck division head, Andreas Renschler, told reporters in September that he did not rule out taking an equity stake in Beiqi Foton but gave no other details...
* Germany - Deal near on bank buy of DaimlerChrysler's EADS stake
Frankfurt,GER -Reuters -22 Nov 2006: -- The German government and DaimlerChrysler AG may strike a deal soon under which a group of banks would buy part of the carmaker's stake in European aerospace group EADS, a German government source said on Tuesday...
* USA - Hella will supply cruise control to Chrysler 300
USA -Reuters -22 Nov 2006: -- Hella North America Inc. said it will supply adaptive cruise control technology to the Chrysler group. The Chrysler 300 Limited and Chrysler 300C will offer the adaptive cruise control as optional equipment for some 2007 models...
* Italy - 2006 car registrations seen higher
Milan,ITA -Reuters -21 Nov 2006: -- Italian new car registrations will likely reach some 2.33 million units in 2006, more than 4 percent higher than the number last year, according to Centro Studi Promotor (CSP), a center that monitors the sector. It predicted Fiat, the country's sole automaker, would have a share of about 31 percent of the market, compared with 27.98 percent in 2005...
* Italy - Banca Intesa's stake in Fiat lowers to 3.78%
Milan,ITA -Reuters -21 Nov 2006: -- Italian bank Banca Intesa said on Tuesday its stake in industrial group Fiat had dropped to 3.78 percent from 4.82 percent, the result of the delivery of ordinary shares following the expiry of options...
* Belgium - VW Brussels workers strike as over 3,000 jobs cut
Brussels,BELG -Reuters -21 Nov 2006: -- Thousands of workers rallied for a third day outside Volkswagen's Brussels plant today, pledging to carry on with strikes after the German carmaker's decision to cut thousands of jobs there. "The strike will continue until the situation is clearer and the workers decide to put it to an end," said Manuel De Castro, an official from the socialist FGTB union...
* Brazil - Volkswagen Brazil buys out more than 1,000 workers
Sao Paulo,BRA -Reuters -21 Nov 2006: -- More than 1,000 factory workers have accepted voluntary buyout packages from Volkswagen, the union representing laborers at the automaker's main Brazilian plant said on Tuesday...
* Belgium - Volkswagen to end Golf production in Brussels - 4,900 staff to be cut to 1,500
Brussels,BELG -Reuters -21 Nov 2006: -- Volkswagen will stop building the best-selling Golf at its Brussels plant as soon as possible and cut thousands of workers. Volkswagen Brussels has started talks with employee representatives on a plan "under which the Golf will no longer be manufactured at three plants in western Europe, but at two -- Mosel and Wolfsburg in Germany," it said in a statement today...
* Germany - Former VW works council head Volkert arrested
Hanover,GER -Reuters -21 Nov 2006: -- German authorities arrested former Volkswagen works council head Klaus Volkert today amid a corruption probe at Europe's biggest carmaker, Brunswick prosecutors said. Police detained Volkert in the northern town of Wolfsburg and a judge placed him under arrest on suspicion of inciting breach of trust and to address the danger of collusion...
* Portugal - VW plant confident of getting new models
Lisboa,PORT -Reuters -21 Nov 2006: -- Workers at Volkswagen's Autoeuropa plant in Portugal are confident the German automaker will soon decide to build new multi-purpose vehicle models (MPV) there, a labor representative said today...
* Germany - Lawsuit seeks information on Porsche entry to VW
Stuttgart,GER -Reuters -21 Nov 2006: -- An activist lawyer said today that he had filed a suit against Germany's financial watchdog in a bid to get details about potential insider trading during Porsche's move to build a stake in Volkswagen last year...
* Malaysia - VW, Peugeot show interest in Proton
PUTRAJAYA,MAL -Reuters -21 Nov 2006: -- Malaysia is talking to France's PSA Peugeot Citroen and Germany's Volkswagen on a possible collaboration with state automaker Proton Holdings, a government minister said today...
* China - To be Audi's second largest market in 2 years
Beijing,CHI -Reuters -21 Nov 2006: -- Audi expects China to become its second largest market after Germany in two years, up from fourth, as a growing number of wealthy mainlanders pick the established brand. Volkswagen's premium brand has a commanding 60 percent share in the luxury segment...
Beijing,CHI -Reuters -21 Nov 2006: -- Audi expects China to become its second largest market after Germany in two years, up from fourth, as a growing number of wealthy mainlanders pick the established brand. Volkswagen's premium brand has a commanding 60 percent share in the luxury segment...
* Malaysia - Car sales slump, outlook darkens
Kuala Lampur,MAL -Reuters -21 Nov 2006: -- Malaysia reported a plunge in car sales today, confirming that Southeast Asia's biggest market for passenger cars was in its worst slump in a decade...
* S. Korea - Hyundai to spend $198 million to add car line in Ulsan plant
Seoul,S.KOR -Reuters -21 Nov 2006: -- Hyundai Motor Co. will invest $198 million to expand one of its domestic plants and produce a future passenger car model there, the carmaker said today...
* China - Aims for $120 billion auto exports in 10 years
Beijing,CHI -Reuters/Xinhua News Agency -21 Nov 2006: -- China aims to lift vehicle and auto parts exports to $120 billion, or 10 percent of the world's total vehicle trading volume, in the next 10 years, quoted a Ministry of Commerce official today as saying...
* China - Chery, Johnson plan China auto interiors venture
Shanghai,CHI -Reuters -21 Nov 2006: -- China's Chery Automobile will set up a joint venture with Johnson Controls Inc. of the United States to make auto interiors, state media said on today. The 50-50 tie-up with Johnson Controls, a major producer of auto interiors and building temperature control systems, will be located in Chery's home city of Wuhu...
* USA - UAW chief sets firm stance for 2007 contract talks
Detroit,Mich,USA -Reuters -21 Nov 2006: -- The head of the United Auto Workers said on Tuesday the union has no intention of backing down in negotiations with automakers in 2007 and said talks with bankrupt parts maker Delphi Corp. were stalled...
posted by Unknown @ 8:28 AM
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