Tag Archives: auto news

Honda EV Demonstration Testing Begins in Guangzhou, China

Posted on 8 November 2011 by Ken Zino

Guangqi Honda Automobile Company, the government required joint-venture between Honda Motor and Guangzhou Automobile wants to begin local production of EVs in China before the end of 2012. Before then, Honda is importing hybrids and EVs from Japan. Continue reading →

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GM Moves Canadian Healthcare off Balance Sheet to Trust

Posted on 8 November 2011 by Ken Zino

This means that GM Canada is free from any obligations associated with the cost of providing retiree healthcare benefits for eligible CAW represented retirees, surviving spouses and dependents. In exchange, GM Canada will transfer C$0.8 billion in cash and issue C$1.1 billion of notes to the HCT.

In its Q2 earnings GM had obligations of $4.7 billion in debt, $5.5 billion in preferred stock (U.S. government owns 26.5% of GM), $10.8 billion in unfunded pensions, and $10 billion in other post-retirement employee benefits. It’s not clear how GM is going to fund these. It looks like issuing more common stock is not feasible given current share price of ~$24, far below the IPO price of $33 and its high of $39.48. GM will report Q3 earnings tomorrow. Continue reading →

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Honda Unveils new ASIMO Robot – World Debut of Autonomous Control – Production and Public Use Near?

Posted on 8 November 2011 by Ken Zino

Honda Motor Company today unveiled an all-new ASIMO humanoid robot equipped with what Honda claims is the world’s first autonomous behavior control technology. This means the all-new ASIMO can now continue moving without being controlled by an operator. In theory, with this improved artificial intelligence and the physical ability to adapt to situations, ASIMO is close to practical public use. How close production is remains to be seen. Continue reading →

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Toyota Loses ¥33 Billion in First Half FY 2012. Scraps Forecast

Posted on 8 November 2011 by Ken Zino

In North America – Toyota’s second largest market – vehicle sales totaled 689,000 thousand units, a decrease of 352,000 units compared to the same period last fiscal year. Operating income decreased by ¥84.4 billion to ¥61.5 billion, including ¥15.6 billion of valuation gains/losses on interest rate swaps. Operating income, excluding the impact of valuation gains/losses on interest rate swaps, decreased by ¥109.8 billion to ¥45.9 billion. Continue reading →

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GM China Sales Set October Record – Surpass U.S.

Posted on 8 November 2011 by Ken Zino

During October 2011, sales by GM in China surpassed 2 million, reaching 2,113,274 units – more than the 2,000,000 units it has sold in the U.S. ytd. Two of GM’s manufacturing joint ventures surpassed 1 million annual sales in China, with Shanghai GM’s sales totaling 1,009,536 units and SAIC-GM-Wuling’s sales coming in at 1,053,196 units. This was the earliest in their history that GM and its joint ventures reached these sales milestones. Continue reading →

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Rolls Royce Recall Active for Engine Fires on Ghost Models

Posted on 7 November 2011 by Ken Zino

Rolls-Royce is recalling 2010 model year Ghost luxury cars equipped with turbocharged engines, because the circuit board for the electric auxiliary water pump can overheat.

At least two cases of engine compartment fires have been reported, Rolls said in a required National Highway Traffic Safety Administration filing about the safety defect. More than one hundred cases of the failure of the German-made Pierburg pump have been reported globally. Continue reading →

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GM Europe President Nick Reilly Retires in March 2012. Karl Stracke Assumes Role in January; Remains Opel/Vauxhall CEO

Posted on 7 November 2011 by Ken Zino

The moves come as the economy of Europe remains battered, with auto sales on track to decline for the fourth straight year. During the first nine months of 2011, only 10,121,423 new cars were registered in the region, or 1.1% less than in the same period a year ago. Fiat, the owner of Chrysler, Ford and General Motors are all struggling to keep their European operations viable as all are losing market share. Results at Opel/Vauxhall and GM Europe are central to GM’s financial success, of course. Continue reading →

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EPA to Study Hydraulic Fracturing Effects on Drinking Water

Posted on 7 November 2011 by Ken Zino

The U.S. Environmental Protection Agency (EPA) has announced its final research plan on hydraulic fracturing, a controversial technique used to extract natural gas that critics maintain has a huge negative impact on the environment with costs passed on to the public by energy companies. Proponents of natural gas maintain that it is a cleaner fuel than oil, and the Federal government is subsidizing vehicles that use it. Continue reading →

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The Film – Chevy 100, An American Story – Debuts in Detroit

Posted on 4 November 2011 by AutoCrat

Do not confuse this Chevy 100 infomercial with other serious documentaries sponsored by GM and produced by Ken Burns during his long association with the largest automaker in the U.S. Chevy 100 lacks an organizing theme – other than it’s time to sell more Chevrolets. Instead, Chevy 100 is comprised of sporadic observations along with snapshots of the history of the brand, supplemented with large amounts of quick-cut contemporary footage from collectors clubs and fawning owners. Be forewarned, you will not see the history of Chevrolet, or the history of the automobile in U.S.A. that Chevrolet is such a significant part of, given justice in this treatment. Continue reading →

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U.S. Unemployment Epidemic Continues at 9% in October

Posted on 4 November 2011 by Ken Zino

This means that coupled with underemployed and those discouraged from looking for work, more than 25 million people are not contributing what they could and want to add to the economic prosperity of local, state and national communities. Continue reading →

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Build Your Own LS7, LS9 Chevrolet V8 Crate Engine

Posted on 4 November 2011 by Ken Zino

Chevrolet Performance is now offering customers the chance to build your own LS7 V8 or LS9 V8 crate engine – a unique program that combines a factory-engineered aftermarket engine with hands on experience for custom car builders and hot rodders. Continue reading →

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Milestones – Chevrolet Officially Celebrates 100 Years

Posted on 3 November 2011 by Ken Zino

Chevrolet is officially recognizing its 100th birthday today by offering deals across the United States. The latest birthday or rather marketing activity ends a year-long Chevy Centennial celebration that began last January at the North American International Auto Show in Detroit. Chevrolet’s history is tangled, and its beginnings were subject to Wall Street maneuverings that are wearily similar to recent financial history. Continue reading →

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Ford Taking Orders for 2012 Focus Electric at $39,995

Posted on 3 November 2011 by Ken Zino

No lease is available, so a typical payment to buy – with $4,000 down for 48 months – is almost $800 per month at Ford’s 7% interest rate. The gasoline Focus starts at just over $17,000. This means that the sales volume of the EV will likely be limited to a few enthusiasts. And Focus Electric also faces tough competition from the Nissan Leaf, which can be leased for about $400 a month. Continue reading →

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Toyota to Export U.S.-Built Sienna to South Korea. FTA that UAW Supported, Also Helps Non-Union Plant Exports

Posted on 2 November 2011 by Ken Zino

The Korea FTA is opposed by all organized labor groups, except the United Auto Workers Union, which in the view of critics sold out organized labor for the promise that 75,000 UAW-built vehicles would be exported to Korea. Thus far Ford and General Motors, all with new four-year UAW contracts, have not announced plans to export to Korea. Continue reading →

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Mixed U.S. October Sales Results for Japanese Three. Toyota Sales Down 8%. Honda Sales +3%. Nissan October Sales +18%

Posted on 1 November 2011 by Ken Zino

Acura, Honda’s luxury label, posted sales of 11,115, an increase of 4.8% versus October 2010, with year-to-date sales of 100,261, compared to Infiniti’s 79,000. This means that natural disaster battered Lexus with ytd sales of 153,739 of cars and light trucks – virtually all of which are made in Japan – easily retains the Japanese luxury vehicle sales crown, but it will displaced from luxury sales leadership for the first time in more than a decade by BMW and Mercedes-Benz. Continue reading →

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