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AUTOMAKERS NEWS * USA
* Michigan - Ford's 2013 C-MAX hybrids post top mpg, electric-only speed
* Michigan - Analysts: Car sales to keep rising
Ann Arbor,MICH,USA -Acme/The Detroit News, by Melissa Burden -August 8, 2012: -- Economists see a continued upswing for U.S. car and truck sales over the next several years, with some forecasts flirting with 17 million in annual sales — a figure not seen in more than a decade... Some estimates aren't as rosy and robust... The Center for Automotive Research, for example, predicts vehicle sales over the next decade in the U.S. to reach 15.8 million in 2016 and stay in the range of 15.5 million sales in 2021 and 2022. CAR is forecasting U.S. sales of 14.6 million in 2013, 14.9 million in 2014 and 15.5 million by 2015...
* DC - Governors to promote auto issues
Washington,DC,USA -The Detroit News, by David Shepardson -August 8, 2012: -- A bipartisan group of four governors, including Michigan Gov., Rick Snyder, is forming an auto caucus to support policies aimed at boosting the U.S. auto industry... The auto industry has been a bright spot in the economy in recent years; the automotive sector accounted for about half of U.S. economic growth in the first three months of the year and had fewer seasonal layoffs than usual in July... The auto sector employs 789,500 people — an increase of about 68,000 over the last year. But the industry has lost more than 200,000 jobs over the last decade, as many auto nameplates — including Hummer, Mercury, Saab, Saturn and Pontiac — folded and automakers and parts suppliers closed dozens of factories... The Alliance of Automobile Manufacturers — the trade group representing Detroit's Big Three automakers, Toyota Motor Corp., Volkswagen AG and seven other automakers — praised formation of the group...
* Michigan - Lawsuit threatens new GM, firm says. Trial begins after creditors seek to rip up hedge fund deal
Detroit,MICH,USA -Bloomberg News/ The Detroit News, by Tiffany Kary -August 8, 2012: -- The new General Motors Co. could be undone by a lawsuit that pits general creditors against hedge funds including Appaloosa Management LP, Elliott Management Corp. and Fortress Investment Group LLC over $3 billion, the car company said in a lawsuit that went to trial Tuesday... A trust for creditors of the old, bankrupt part of the automaker now known as Motors Liquidation Co. sued the hedge funds in bankruptcy court in March, alleging that while GM was preparing its bankruptcy filing on June 1, 2009, the funds, which held notes in a Canadian unit of GM, "saw an eleventh-hour opportunity for profit and pounced" ... Since the agreement wasn't completed until after General Motors actually filed for bankruptcy protection, it requires bankruptcy court approval, which was never obtained, the trust said...
Labels: automakers news USA
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