Auto News

[Devinda_Z]

However, while the team is riding the rollercoaster, the Heat Dancers have won the "Hottest Dance Team in the NBA" contest for 3 years running! Yay Team!

i've suddenly developed a mild interest in the NBA again upon being enlightened to that fact...

http://www.nba.com/features/dance_bracket_2008.html

i recall the Laker Girls from back in the day - The 90's comedy "California Dreams" is where i think i first heard of it!

[Devinda_Z]

i was going to post these with the full text for easy reading, but its late & i'm feeling rather lazy , so here are the links for the ones who are interested to explore

Ford, GM Job Cuts Approach 50 Percent; Chrysler Close Behind

http://industry.bnet.com/auto/1000692/ford...r-close-behind/

GM considering Chapter 11 filing, new company

http://www.reuters.com/article/topNews/idU...14?feedType=RSS

German states set to rescue GM's Opel

http://www.thisislondon.co.uk/standard-bus...Opel/article.do

Sweden Refuses to Rescue Saab

http://www.industryweek.com/articles/swede...saab_18506.aspx

GM, Chrysler raise aid request by $21.6 billion

http://www.detnews.com/apps/pbcs.dll/artic...0382/1148/rss25

[Devinda_Z]

Source : http://www.ft.com/cms/s/0/15a0eefa-e654-11...?nclick_check=1

Fiat to ship Fiat 500 and Alfa Romeo 940 to the U.S.

Posted: February 16, 2009

If its proposed partnership with Chrysler LLC is complete, Fiat will speed up the export of some European-built cars to the United States in an attempt to set the stage for a possible U.S. production around mid-2011.

“We are currently working on a plan to begin shipping the Fiat 500 minicar and the Alfa Romeo 940 to the U.S. in about a year,” a source familiar with the matter told Automotive News Europe.

The source said that the Fiat and Alfa models will be sold through Chrysler-Dodge-Jeep dealers. The number of the two models shipped to the U.S. from Europe will be very small to test the market for a higher-volume production by mid-2011. Eventually, Chrysler will begin producing the Fiat 500 at its Toluca Mexico plant and the Alfa 940 at an unknown U.S. location.

The insider said that Fiat is also looking to base the next Alfa Romeo 169 in Chrysler’s 300 platform.

The proposed alliance would give Chrysler access to four Fiat platforms for production in North America, from minicars to upper-medium models. Chrysler would also get 1.4- and 1.8-liter gasoline engines and a new six-speed transmission.

Fiat also is considering basing its oft-delayed upper-premium Alfa 169 on a Chrysler platform. The Italian automaker is looking at the LX platform that underpins the Chrysler 300 and Dodge Charger.

Source : http://www.egmcartech.com/2009/02/16/repor...-940-to-the-us/

[Devinda_Z]

Honda CEO Fukui Steps Aside

In the latest corner office adjustment, Japanese automaker Honda is tapping Takanobu Ito, its former R&D chief, to be its new leader

By Ian Rowley

Senior managing director of Honda Motor Takanobu Ito (L) listens to President and CEO Takeo Fukui ® during a press conference on February 23, 2009. Ito will replace Fukui in June to struggle with falling sales amid the global economic downturn. TORU YAMANAKA/AFP/Getty Images

Another Japanese auto chief is moving aside. Amid plunging sales, Honda (HMC) President and CEO Takeo Fukui announced on Feb. 23 he will hand over leadership of the company to Takanobu Ito, chief of automobile operations, in June. The departure of Fukui, who has been boss at Honda for six years, is the latest of several corner office moves as Japanese car companies struggle to cope with dwindling sales in the U.S., Europe, Japan, and China. In January, Toyota announced its decision to replace President Katsuaki Watanabe with Akio Toyoda, grandson of the company's founder. In November, Mazda (MZDAF) said Takashi Yamanouchi would succeed Hisakazu Imazu. Legendary Nissan (NSANY) President Carlos Ghosn remains in the job but has relinquished some responsibilities recently as he balances leading the Japanese automaker and its major shareholder Renault of France.

Honda says the change had been planned and isn't related to the company's recent disappointing results. Indeed, speaking at a press conference in Tokyo, the 64-year-old Fukui explained that taking into account the harsh environment facing automakers, he had even considered staying on longer; ultimately, though, he decided the younger executive—Ito is 55—is ready for the top job. "It is very important to have a generational change in management every few years," said Fukui, who will stay on at Honda as a director and adviser. When asked to describe Ito in one word, Fukui replied "tough."

The new boss will certainly need to be. "I don't envy [ito] at all," says Yasuhiro Matsumoto, an analyst at Shinsei Securities in Tokyo. For automakers, "it's the most difficult environment for a century."

Scaling Back

In line with all Japanese car companies, Honda is reeling from a combination of falling sales and the strong yen. Last year Honda had seemed to be weathering the storm far better than most Japanese automakers, but now it, too, is suffering. During the current financial year ending in March, Honda expects its net earnings to fall 87%, to $860 million. That's certainly better than the terrible red ink at other automakers. However, for the final quarter of the fiscal year (January through March), the company is likely to lose $2.7 billion, its first quarterly loss in 15 years.

And with sales showing few signs of recovery during 2009, many of Fukui's last acts as chief have focused on cost-cutting. In December, a solemn Fukui announced a string of measures aimed at trimming outgoings. Among them, the company will delay by at least one year a new flagship plant in Yorii, outside Tokyo, and a minicar plant in western Japan. Honda will also postpone planned capacity increases in India and Turkey. The company has dropped a plan to release the Acura luxury marque in Japan in 2010 and has axed the development of the successor to the NSX sports car, scheduled to have been equipped with a new V10 engine. And its plans to use diesel engines in larger models are now on hold. Earlier in December, Honda pulled out of Formula One in order to save the company about $500 million a year.

There may be more cuts ahead. In Japan, Honda is cutting 4,300 temporary workers by April. In the U.S., Fukui said recently the company may be forced to follow Toyota and introduce work-sharing and begin offering voluntary retirement deals.

Candid About Challenges

Ito, who like Fukui is an engineer and former chief of Honda's research and development division, is a 31-year Honda veteran who began his career at the company in auto R&D. In 1990 he led the development of the all-aluminum uniframe body, the first of its kind, for the NSX. Later he led the development of several small sedans for the Japanese market and of the MDX, Honda's Acura brand's first SUV.

Ito is candid about the challenges he now faces and how difficult the job will be. On hearing he would succeed Fukui, he told reporters in Tokyo: "I don't think I had a full smile on my face." He reminisced about buying a Honda N360 minicar (produced until 1972) for $100 from a customer when he worked as a part-time gas stand attendant. "I found it was a peach of a car," he said. (Cutting a relaxed figure at the press conference, Ito also copped to owning Toyota and Mazda cars in his youth.)

For all of Honda's woes, Ito may yet find life at the top easier than Akio Toyoda at the company's Aichi-based rival. While losses at Toyota are expected to reach $3.9 billion this financial year, Honda is still one of only three Japanese carmakers, alongside Suzuki and minicar-making Daihatsu, projecting a full-year profit. In the year ending March 2010, UBS (UBS) analyst Tatsuo Yoshida says he expects Toyota's loss to widen, but believes Honda, aided by its motorcycle business, stable sales in Asia, and lineup of fuel efficient cars, can stay profitable if the yen stabilizes at current levels. "Honda is better positioned than the others," Yoshida says. For that, Fukui, who joined Honda in 1969, takes great credit.

With Hiroko Tashiro in Tokyo

Rowley is a correspondent in BusinessWeek's Tokyo bureau.

Source : http://www.businessweek.com/print/globalbi...0223_475574.htm

[isam]

these images were included in the first post but for some odd reason didn't display...

thought u lads might find it entertaing in someway at least

Pon.. what? the He11! look at em legs...!

[Devinda_Z]

Pon.. what? the He11! look at em legs...!

theres yet more to see should you look close/hard enough

[GTAm]

Scary sh......

http://www.autocar.co.uk/News/NewsArticle/AllCars/238594/

Auditors for ailing General Motors say that there is "substantial doubt" that the car maker can continue to trade as a going concern.

The judgement by auditor Deloitte could now seriously hamper GM’s ability to extract billions more in loans from the US government.

Financial sources say Deloitte’s view could also cause problems for GM with its suppliers and banks.

GM has already said that it could go bust before Easter if it doesn’t get another tranche of the $16bn in bailout loans it is seeking this year from the US government.

Although GM could attempt to file for bankruptcy protection under the US Chapter 11 laws, sources say that the company might not even be able to obtain enough money to continue building cars while the company is reorganised.

Many in the US fear that if GM does go bust, a wave of knock-on business failures across the US will result in more than a million job losses.

[Devinda_Z]

Scary sh......

http://www.autocar.co.uk/News/NewsArticle/AllCars/238594/

i doubt the American economy can stomach that much of a hit in the form of so many joining the ranks of the unemployed overnight

they might well have to consider nationalizing it

[GTAm]

i doubt the American economy can stomach that much of a hit in the form of so many joining the ranks of the unemployed overnight

they might well have to consider nationalizing it

Well Obama wants concrete recovery strategies before doling out billions of tax payers $$$. That's the way to go. I'd be amazed if they did nationalize it! But I wish it survives. The last thing the world needs is less variety....

[JadeyBlitzen]

London motor show 2010 is cancelled due to the recession. DAMN!!!

http://news.bbc.co.uk/1/hi/business/7952701.stm

[Devinda_Z]

London motor show 2010 is cancelled due to the recession. DAMN!!!

http://news.bbc.co.uk/1/hi/business/7952701.stm

thats a shame

even 2008 was missing some of the big names...

i'm going to count myself fortunate none the less

[JadeyBlitzen]

thats a shame

even 2008 was missing some of the big names...

i'm going to count myself fortunate none the less

the showgirls made up for it though

did you talk to the 2 french birds at the renault stand by any chance?

[Devinda_Z]

the showgirls made up for it though

did you talk to the 2 french birds at the renault stand by any chance?

i was given a lot of grief by S_N & co for not bothering with the ladies , as in not so much as one picture..

was so utterly and completely focused on the wheels - i mean can you blame me for not noticing some eastern europeans in heels whilst having the 8C & Brera in front of me?

[JadeyBlitzen]

the trick is to ask them about the car. sure you know more. but its a good excuse to chat them up. especially those gtr girls

i hit the jackpot with the french birds cos i managed to pull the 2nd fastest time in that twingo game machine

[Devinda_Z]

Orange County Lamborghini dealer to plead guilty to wire fraud

12:34 PM | March 11, 2009

An Orange County man, whose car dealerships accounted for about 5% of all Lamborghinis sold worldwide, has agreed to plead guilty to a single charge of felony wire fraud and faces a maximum penalty of 30 years in prison, authorities announced today.

Viken Keuylian, 45, of Laguna Hills, allegedly schemed Volkswagen Credit Inc. out of at least $12 million, according to a statement from the U.S. Department of Justice. The financing company gave him loans to purchase the luxury vehicles. He is scheduled to appear in federal court in Santa Ana on Monday.

Keuylian owned Lamborghini of Orange County and Lamborghini of Calabasas, which have now both closed. Under his agreement with VCI, Keuylian was loaned money to purchase cars that he put on his lots and for each car sold he "was obligated to pay back the money loaned to purchase that specific vehicle," authorities said.

Keuylian allegedly deceived VCI by telling them the cars he had already sold remained on his lots. But, in fact, he had misappropriated that money to pay-off other expenses, including business debts connected with a vineyard and a Lotus car dealership in Beverly Hills, authorities said. In one incident, authorities said Keuylian sold about 54 luxury vehicles in October 2008 for less than he owed VCI for each car. VCI loaned him $12,560,314 to purchase those cars, but Keuylian received only $8,163,275 from the sales, and authorities said none of the initial loan was paid back.

-- Ari. B. Bloomekatz

Source : http://latimesblogs.latimes.com/lanow/2009...rghini-dea.html

[Devinda_Z]

the trick is to ask them about the car. sure you know more. but its a good excuse to chat them up. especially those gtr girls

i hit the jackpot with the french birds cos i managed to pull the 2nd fastest time in that twingo game machine

well i guess i picked the wrong stall to post a decent laptime , cuz the Ford Abu Dhabi WRC team section with the PS simulator set up didn't really have any one worth talking to

[JadeyBlitzen]

well i guess i picked the wrong stall to post a decent laptime , cuz the Ford Abu Dhabi WRC team section with the PS simulator set up didn't really have any one worth talking to

did u at least notice the toyo girls on the other side? they had 'em big

[Devinda_Z]

did u at least notice the toyo girls on the other side? they had 'em big

aiyo noooo really?!

these were the stalls which weren't manufacturer supported right - the ones outside the main area is it?

[isam]

theres yet more to see should you look close/hard enough

Ah... you mean that horrible looking automobile in the background... but still... em' legs, what a distraction

Edited March 30, 2009 by isam

[JadeyBlitzen]

aiyo noooo really?!

these were the stalls which weren't manufacturer supported right - the ones outside the main area is it?

yep that was where the williams f1 car was.

btw here's a few samples of what you missed

ever wondered where they got the inspiration for the 307 sz rear end? i bet those girls didnt have a clue on what they were empazising

and on the side a shot of my mates rather unsuccessful attempt to chat up a gtr girl

Edited March 27, 2009 by JadeyBlitzen

[miniace]

GM CEO Wagoner to step down at White House request

GM CEO Wagoner to step down at White House request

DETROIT – General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Barack Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry.

Quote-TOM KRISHER and KEN THOMAS, Associated Press Writers

Link here

http://news.yahoo.com/s/ap/gm_wagoner

MINIACE

[Pericles]

GM CEO Wagoner to step down at White House request

Link here

http://news.yahoo.com/s/ap/gm_wagoner

MINIACE

Have to wonder how much of the bailout money he'll take with him as a severance package...

[miniace]

Have to wonder how much of the bailout money he'll take with him as a severance package...

Sure its a 'golden handshake'!

MINIACE

[MasterDon]

the american car sales graph for march - via autoblog

[Supra_Natural]

the american car sales graph for march - via autoblog

dayumm... will you look at that decrease percentage!!

Interesting to note though, while ALL the other brands have drops of at least over 20%, Hyundai, Kia and Subaru have all lost less than 5% of sales...