Archive for the ‘Industry News’ Category

Detroit Rivals Gunning for Transit Connect?

Monday, October 8th, 2012

Recent trademark filings by both Chrysler and General Motors indicate that Ford’s next-generation Transit Connect Wagon may not have everything its own way in the North American market. Chrysler has long hinted that versions of Fiat’s class-leading Dobló compact LCV and the Ducato large van could fill out the new RAM brand’s commercial vehicle offerings. Trademark applications in the US last month for both Ram Promaster and Ram Promaster City suggest that plans for both vans are progressing. The big surprise though comes from General Motors, which currently does not offer a modern compact LCV of its own anywhere in the world. Opel/Vauxhall’s Combo, originally a segment pioneer, has been replaced by a version of the Dobló produced by TOFAŞ in Turkey; while several emerging markets sell small Chinese Wuling vans under the Chevrolet badge, unsuitable for the US market. (more…)

China Changan Automobile Group and PSA Peugeot Citroën Sign Contract for Automotive Joint Venture in China

Friday, July 9th, 2010

Xu Bin, President of China South Industries Group Corporation, Changan's main shareholder, and Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, have signed a contract to create an equally owned joint venture. The contract was signed on July 9 in Paris at a ceremony attended by Wu Bangguo, Chairman of the Standing Committee of the National People's Congress, Bernard Accoyer, President of the National Assembly of France and Gao Hucheng, Vice Minister of Commerce of the People's Republic of China

Pooling the expertise of two industry leaders, one Chinese and the other European, the joint venture will produce and market light commercial vehicles and passenger car line-ups in China. The partners will initially focus on introducing the Citroën DS line in China and launching a dedicated new brand for the venture. (more…)

Automobile Manufacturers Stick Up for Electric Vehicles with Fuel Cell

Wednesday, September 9th, 2009

Stuttgart — Today, Daimler AG announced that the leading vehicle manufacturers in fuel cell technology — Daimler AG, Ford Motor Company, General Motors Corporation/Opel, Honda Motor Co., Ltd., Hyundai Motor Company, Kia Motors Corporation, the alliance Renault SA and Nissan Motor Corporation and Toyota Motor Corporation — gave a joint statement to the development and market introduction of electric vehicles with fuel cells with a Letter of Understanding (LoU). These companies have built up remarkable know-how in fuel cell technology and thus, the signing marks a major step towards the serial production of such locally emission-free vehicles.

The signing automobile manufacturers strongly anticipate that from 2015 onwards a quite significant number of electric vehicles with fuel cell could be commercialized. (more…)

Magna Confirms Offer for Opel

Friday, May 22nd, 2009

Aurora, Canada/PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today confirmed that, together with Sberbank Rossii (“Sberbank”), it has submitted a non-binding indicative offer for Opel. The offer contemplates a total investment by Magna and Sberbank of Euro 700 million, a portion of which would be guaranteed by the German government. Under the offer, the proposed equity interests in Opel would be: General Motors — 35%; Sberbank — 35%; Magna — 20%; and Opel employees — 10%.

General Motors and the German government are reviewing and considering offers submitted this week and will determine the next steps in the sale process.

There is no assurance that any transaction will result from Magna's current involvement. (more…)

Polls and the U.S. Auto Industry

Thursday, December 4th, 2008

Washington /PRNewswire-USNewswire/ — The intense debate undey about the future of the American auto industry has generated a lot of discussion about the public's attitudes.

“Right now, the American people are justifiably very concerned about the state of our economy and an overriding fear for their futures,” said pollster Peter D. Hart. “Polls I conducted in mid-November showed deep concerns about the harmful impacts of the collapse of the U.S. auto industry,” said Hart.

  • 90% fear the harm it would do to America's manufacturing sector
  • 84% of Americans say it would harm the U.S. economy
  • 70% fear the harm it would do to America's standing in the world
  • 68% worry about the lack of consumer choice for America's car buyers.

(more…)