Tag Archives: auto informed

More Jobs to Asia as Private Equity Owned Stant Buys Pyongsan

Posted on 12 July 2012 by Ken Zino

H.I.G. Capital, a private equity firm that owns Stant Corporation, says Stant has acquired a majority interest in Pyongsan-FT. The new manufacturing company will be renamed Stant Korea Corporation. The JV will produce fuel filler tubes in South Korea for the Korean and Asian markets. Continue reading →

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GM Europe President, Opel Head Karl Stracke Ousted over Losses

Posted on 12 July 2012 by Ken Zino

Insiders say that Akerson has told Girsky that it is time to show that Opel can be saved. For an ambitious Girsky who wants to head GM some day, this is a make or break appointment on the GM journey, a road strewn with road kill of former senior GM executives. Continue reading →

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Ford Motor Company Declares $0.05 Q3 Dividend

Posted on 12 July 2012 by Ken Zino

The move comes as Ford shares are trading just above $9 a share, down from a 52 week high of $13.44. On an annualized basis, this represents a return of about 2%, which makes Ford look like a relative bargain in a market awash in Federal Reserve printed dollars and, as a result, record low interest rates for speculators and borrowers. Continue reading →

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Dongfeng Honda Opens Second Plant in Wuhan China

Posted on 11 July 2012 by Ken Zino

During 2011 Honda sold 618,000 cars in China last year, dwarfed by market leader General Motor’s 2.55 million and Volkswagen Group’s 2.26 million. Among the Japanese Big Three, Nissan in China is twice as big as Honda and Toyota is 40% larger in terms of vehicle sales. Continue reading →

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European Makers Squeal Over Tough CO2 Targets Just Announced

Posted on 11 July 2012 by Ken Zino

It is not clear if the European auto industry has the political influence to modify the regulations in the face of strong and apparently growing (at least among regulators and some political parties) green sentiment in Europe. Continue reading →

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Milestones – 40 Million Ford Engines Produced at Dagenham

Posted on 11 July 2012 by Ken Zino

Production at Dagenham for Ford vehicles accounts for about 70% of Dagenham’s output, with the balance of more than 270,000 engines for Jaguar Land Rover, Mazda, PSA Peugeot Citroën and Volvo. Ford is in the process of phasing out its successful 12-year joint venture with Peugeot since PSA is now the process of establishing a global alliance with General Motors. All of these companies are hemorrhaging billions of dollars – or euros in Europe as the Eurozone crisis deepens. The British pound is helping Ford somewhat, but losses are projected to quadruple in Europe for the balance of 2012. Ford Europe lost $149 million in Q1, a -$449 million swing compared to 2011. Continue reading →

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Used Vehicle Sales Decline in June, But Franchise Sales Grow

Posted on 11 July 2012 by Ken Zino

The U.S. auto sales industry sold 4,382,519 used vehicles in June, down 2.48% compared to a year ago. This contrasts to new vehicle sales of 1.3 million cars and light trucks, which once again begs the question if new vehicle prices are too high and driving people out of the market? About 80% of U.S. workers commute to work in a car or truck. Continue reading →

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Taxpayer Subsidized Solazyme Starts Renewable Biofuel Refinery

Posted on 11 July 2012 by Ken Zino

Biofuels have the potential to decrease imports of oil, but cost, currently as much as five times conventional oil, and feedstocks that could hurt the global food supply, remain problematic. Continue reading →

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Airline On-Time Performance Improves in May

Posted on 10 July 2012 by Ken Zino

The largest airlines in the U.S. reported an on-time arrival rate of 83.4% in May, up from the 77.1% on-time rate of May 2011. This was down from April 2012’s 86.3% rate, according to the U.S. Department of Transportation’s Air Travel Consumer Report released today. Continue reading →

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Volvo Fined $1.5 Million for Not Reporting Safety Defects

Posted on 6 July 2012 by Ken Zino

Volvo – once known for its safety reputation – now has the dubious distinction of joining Toyota Motor and BMW Group in paying penalties for not reporting defects or violations of U.S. regulations. Volvo will pay the fines into the General Fund of the U.S. Treasury; they will not go toward enforcement of U.S. Safety regulations. Continue reading →

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June Auto Sales Soar with Mixed Results for Detroit Three

Posted on 3 July 2012 by Ken Zino

Sales of new cars and light trucks in June increased 22% from the same period a year ago, as the auto industry delivered almost 1.3 million vehicles for the month. On a seasonally adjusted annual basis or SAAR, this meant that the industry-selling rate continues to be more than 14 million units for five of the six months of 2012, resulting in sales of more than 7.2 million vehicles year-to-date. The slowly recovering auto market presented mixed but arguably positive results for the Detroit Three. Continue reading →

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Fisker and Leonardo DiCaprio to Work on ‘Sustainability’

Posted on 3 July 2012 by Ken Zino

Fisker Automotive and Leonardo DiCaprio today announced that they will work together to promote environmental causes. DiCaprio – an investor in Fisker – will “participate in conversations on the auto manufacturer’s future plans for the advancement of sustainable, responsible vehicles.” Continue reading →

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Louis Dreyfus Energy Pays $4 Million for ‘Stealing’ Natural Gas

Posted on 3 July 2012 by Ken Zino

Louis Dreyfus Energy Services has paid the United States $4,084,000 to settle allegations that it violated the False Claims Act by failing to pay money owed on natural gas acquired from the Department of the Interior, which is to say U.S. taxpayers. Continue reading →

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Ford of Europe Names Gunnar Herrmann V.P. of Quality

Posted on 3 July 2012 by Ken Zino

Ford of Europe has named Gunnar Herrmann, vice president of quality. Herrmann, 52, will be responsible for all aspects of quality at Ford of Europe, effective 1 September. Herrmann, a no nonsense, but affable engineer, also joins Ford of Europe’s management board and Ford of Germany’s supervisory board. Continue reading →

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Blower Bentley Sets £4.5 Million Auction Record

Posted on 2 July 2012 by Ken Zino

Sir Henry ‘Tim’ Birkin’s 4.5-liter supercharged Bentley race car sold for £4.5 million when auctioned at the Goodwood Festival of Speed. In March 1932, Birkin set a record 137.96 mph at the Brooklands in the United Kingdom. Continue reading →

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