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CARMAKERS NEWS * WORLDWIDE
* Michigan /USA - Big 3, partners on path to $4 billion Europe loss. Economic crisis blamed for lowest level of auto sales since the mid-'90s
* Germany - Global crisis hits German auto manufacturers
Stuttgart,Germany -World Socialist web site, by Dietmar Henning -28 September 2012: -- The effects of the global economic crisis are now being felt by leading top-end German auto manufacturers such as Daimler and Porsche, with their respective workforces expected to pay the price for declining profits... The European car industry was plagued by overcapacity even prior to the crisis triggered by the collapse of Lehman Brothers... Auto expert Ferdinand Dudenhöffer, estimates an overcapacity of 4-5 million cars across the continent—equivalent to the production of at least four or five major auto plants. “There is basically no alternative to plant closures”, he concludes... The companies mainly affected by the crisis are those producing small and medium-sized cars for the European market: PSA Peugeot Citroën, Fiat and Opel. They have all announced plant closures and mass layoffs. Ford also expects to make a loss of €1 billion in Europe this year... Now, however, top-end manufacturers are increasingly being drawn into the crisis...
* DC / USA - Volkswagen exec: U.S. needs to solve its fiscal problems
Washington,DC,USA -The Detroit News, by Christine Tierney -October 1, 2012: -- Volkswagen AG decided this year to build a $1.3 billion Audi plant in Mexico instead of the U.S. because the terms were better... "By choosing Mexico for the new plant, Audi can avoid a 10 percent tariff on cars shipped to a host of countries that have trade agreements with Mexico, but not the U.S." said Jonathan Browning, president of Volkswagen Group of America in a speech at the Brookings Institution here... Mexico was the logical choice because 70 percent of the Audi plant's premium models would be exported, and the U.S. offers fewer advantages for export-oriented factories, he said...
* Germany - Audi halts plant production due to weak demand
Neckarsulm,Baden-Württemberg,Germany -The Detroit News (USA) -October 1, 2012: -- Volkswagen AG's premium carmaker Audi will halt production at its Neckarsulm plant for the first week of October because of weakening demand, according to German newspapers... Auto sales are down sharply in southern Europe, but demand is also weakening now in northern and central European markets and affecting premium brands as well as mass-market models... Daimler AG lowered the profit forecast for its Mercedes-Benz luxury carmaker last week, citing deteriorating market conditions in Europe and China...
- AUTOS' RECALLS -
* DC / USA - GM recalling nearly 41,000 cars for potential fuel leaks, fire risks
Washington,DC,USA -The Detroit News, by David Shepardson -September 29, 2012: -- General Motors Co. said Saturday it is recalling nearly 41,000 vehicles sold in some hot weather states because a faulty part could cause fuel leaks and start a fire... GM said it recalling 40,859 2007-09 model vehicles that have a plastic piece on the fuel pump module that may crack, which could cause a fuel leak... The vehicles recalled are: 2007 Chevrolet Equinox and Pontiac Torrent. 2007 Chevrolet Cobalt, Pontiac G5, and Saturn Ion. 2008 Chevrolet Cobalt and Pontiac G5. 2009 Chevrolet Cobalt and Pontiac G5 vehicles...
* DC / USA - Honda expands recall to address leaky hose issue
Washington,DC,USA -The Detroit News, by David Shepardson -October 2, 2012: -- Honda Motor Co. said Monday it is recalling 603,000 Accord cars in North America to replace power steering hoses that could leak and cause a fire... The recall covers the 2003-07 Accord V-6 and is an expansion of a recall first announced in May of 52,615 2007-08 TL sedans... Honda said over time, the power steering hose may deteriorate and develop a fluid leak. Leaking power steering fluid could lead to loss of power steering assistance or, if it leaks onto a catalytic converter, may result in smoke or a fire...
- ELECTRIC VEHICLES -
* Florida / USA - Auto startup shifts HQ to Michigan
Washington,DC,USA -The Detroit News, by David Shepardson -October 2, 2012: -- A startup automaker that won $50 million in Energy Department loans said Monday it is moving its headquarters to Michigan... The Vehicle Production Group LLC, developer of the wheelchair-accessible MV-1, has relocated to Allen Park from Fort Lauderdale, Fla., said John Walsh, who became chief executive in April... Walsh said about 200 employees will work at the company's headquarters in Allen Park... The $50 million government loan, finalized in March 2011, is supporting development of the six-passenger MV-1... The factory-built, wheelchair-accessible vehicle runs on compressed natural gas or gasoline. The company recently drew down the remainder of the government loan and has started repaying the debt, Walsh said...
Labels: carmakers news worldwide
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