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CARMAKERS NEWS * USA
* Michigan - Chrysler's 3Q profit rises 80%
* Michigan - Fiat's woes put Chrysler plan on hold. Acquisition takes back seat to fix of Italian carmaker
Auburn Hill,MICH,USA -The Detroit News, by Bryce G. Hoffman -October 31, 2012: -- CEO, Sergio Marchionne, has decided to retool Fiat SpA's struggling European operations rather than shutter factories, but that means it will not have the money it needs to acquire the rest of Chrysler Group LLC... And that, in turn, may accelerate Chrysler's return to trading as a publicly owned company... The goal is to get the company's European factories humming again by increasing exports and concentrating on higher-volume vehicles. For example, Fiat will drastically scale back its poorly performing Lancia brand, producing just one vehicle and filling the rest of the showroom with rebadged Chryslers... The company also plans to expand Jeep's presence in Europe. Marchionne, who heads both automakers, said he will build an all-new small Jeep for the domestic market and export. Fiat will also produce a small sport-utility vehicle... The automaker wants to export 15 percent of the cars and trucks produced in Europe... Fiat said it still expects to make a net profit of 1.2 billion euros, or more than $1.5 billion, this year. But the company said its European operations would continue to lose money for at least three more years...
* Michigan - Chrysler, Fiat SpA to invest $1B in Mexico plant
Auburn Hills,MICH,USA -The Detroit News -1 Nov 2012: -- Chrysler Group LLC and Fiat SpA plan to invest $1 billion to produce the Ducato truck at a plant in Saltillo, in the Mexican state of Coahuila, Excelsior newspaper columnist Dario Celis wrote Wednesday, without saying where he obtained the information... Part of the total investment will include 3 billion pesos ($229.6 million) from Mexico's development bank Bancomext, he said...
* Michigan - GM posts $1.5B in 3Q profits
* Brazil - GM focuses on growing market
Sao Paulo,SP,Brazil -The Detroit News, by John McCormick -November 1, 2012: -- General Motors Co. is leaning heavily on its extensive research, design and production capabilities in Brazil. It is expanding its product range and spending $450 million to increase output at its plant in neighboring Argentina... GM ranks third in overall Brazilian sales, close behind Fiat and VW. Each holds about 20 percent of the market, expected to hit 3.8 million units this year. Ford, the other member of the Brazilian Big Four, has about 10 percent... In South America as a whole, GM has an 18.5 percent share and has led its rivals for 11 years... The total market size approaches 6 million vehicles annually, which is larger than Japan, notes GM South America President Jaime Ardila...
* New Jersey - Mercedes dangles $5,000 VIP discounts to hold U.S. lead over BMW
Montvale,NJ,USA -Bloomberg News/The Detroit News, by Craig Trudell and Tim Higgins -October 31, 2012: -- Daimler AG's Mercedes-Benz, guarding its U.S. luxury-auto sales lead, is letting some buyers skip more monthly payments than BMW AG and offering discounts as much as $5,000 to "VIP customers" ... Mercedes introduced a program for 2012 models sold through this month that included cash offers and special lease deals, according to an Oct. 2 memo to dealers. The Stuttgart, Germany-based automaker in an Oct. 5 email to dealers also announced a promotion for the month that lets some current Mercedes owners forgo as many as five payments... Mercedes leads BMW by 5,221 sales in the U.S. through this year's first nine months... Weak demand in Europe is spreading to Germany, and deliveries in China slipped for the first time in eight months in September. Those markets' struggles are putting more pressure on Daimler and BMW in the U.S....
* Michigan - Ford shows off Mustang Cobra Jet Concept with twin turbos
Dearborn,MICH,USA -Gizmag, by Dave LeClair -October 30, 2012: -- Ford has shown off a new version of its Mustang Cobra Jet concept at the Specialty Equipment Market Association (SEMA) show this year. Since 2008, the Jet has been the most accomplished production-based drag racer, and Ford is making some pretty serious changes that it hopes will keep it on top. The Cobra Jet concept that Ford is displaying features a twin-turbocharged 5.0-liter V-8. This is a big change for the drag racer, which has always featured a large supercharged engine...
Labels: carmakers news USA and Canada
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