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Racing drives Audi to new record sales 2007-07-15 05:33:00 It’s a rare weekend for Audi AG as the best of its R10 TDI racecars manages to place only fifth in an American Le Mans Series. Le Mans race is an event won by Audi for the past seven years in Europe and has been the overwhelming factor in the ALMS since it entered the series in 2001.Scott Keogh, Audi’s chief marketing officer, says his brand’s racetrack success is helping it grow record sales volumes at higher transaction prices, adding that Audi’s home is the track. He says racing has been especially helpful in selling sports cars such as the Audi S8, RS 4 and S6, and it is also the key for Audi to boost its price range above the $100,000 level for its all-new R8 flagship which will go on sale in the fourth quarter.Keogh says that the automaker has two years of orders in the bank for the R8 because of its racing credibility. Still, Audi wants to make sure it’s kept exclusive. Audi is scheduled to sell only between 200-300 R8s this year and limit sales of the sports car to no Read more:Racing
Florida to adopt tough auto emission standards 2007-07-15 05:26:00 Florida Governor Charlie Crist announced "bold" new air-pollution targets for the southeastern US state which will include car emission
limits similar to the California standards challenged by automakers, says a report by AFP. Crist is scheduled to sign the executive orders at the conclusion of a two-day Global Climate Change conference in Miami. At the start of the gathering which brings together representatives from the government, private sector and environmental groups the governor said that it’s ambitious, and a bold step.The orders call for emission of greenhouse gases in Florida to be cut by more than 25 percent over the next 18 years and by 80 percent by 2050. One copies California requirements to reduce the amount of carbon-dioxide cars release into the atmosphere, an order which automakers are challenging in court."We cannot afford to ignore this issue any longer," Crist said of the impact of carbon emissions on global climate change. He said the issue was crucial in Florid Read more:Florida
, adopt
BMW sells Brazilian motor venture stake to Chrysler 2007-07-15 05:24:00 German carmaker BMW has transferred its 50 percent stake in Brazilian
engine joint venture Tritec Motors Limitada to DaimlerChrysler
's Chrysler Group division, BMW told Reuters without giving any details of the deal which requires regulatory approval.Tritec, which was founded in 1997, started large-scale production in January 2000, with a capacity of around 250,000 units per year, makes 1.4- and 1.6-litre four-cylinder petrol engines for BMW's Mini brand and some Chrysler models, a statement said."Chrysler Group has assumed the responsibility for exploring long-term options for the Tritec operations whereby all possible alternatives for continuing the business for the long run are under analysis. This may include a sale of the facility to a third party," it said in a statement. A spokesman for BMW said the company would replace the motors with those built through its engine partnership with French carmaker PSA.
BMW and Mercedes negotiate over future partnership 2007-07-15 05:19:00 The world's largest premium carmaker, BMW, and its closest rival Mercedes
-Benz, are in negotiations over a partnership
to build the next generation Mercedes A-Class on BMW's Mini platform, German motor magazine Auto Bild reported without citing sources.According to Reuters, Oxford plant will not run at full capacity due to heavy costs pressures and therefore, Mini risks too lose money. This is the reason why BMW is considering finding a partner, discussions including Honda, existing partner PSA, and even its rival-Mercedes. Mercedes planned on building the next A-Class in 2012 on a platform to be developed with Chrysler, but these plans have been dropped after parent DaimlerChrysler sold its majority stake in the loss-making U.S. carmaker. Michael Ganal, BMW's sales and marketing head, said in an interview with German business magazine WirtschaftsWoche, that the company doesn’t exclude expanding its current cooperation with Mercedes into other fields as well. A BMW spokesperson sa
World Car of the Year 2007: Lexus LS 460 2007-07-14 07:24:00 The new Lexus
LS 460 has been declared World
Car of the Year 2007 by a group of international journalists. The announcement was made at a press conference at the New York International Auto Show on 5 April, 2007.The Lexus LS 460, launched in January, was chosen from an initial entry list of 28 contenders nominated by World Car jurors from 22 countries throughout the world.WCOTY jurors considered the prestigious LS 460 to be “the embodiment of the Lexus brand's motto – the pursuit of perfection. Classically luxurious, with modern execution, unquestioned quality and more than ample power, it also offers a green alternative in the form of the soon to be launched LS 600h hybrid variant for those who seek guilt-free indulgence.”The jurors also recognised that Lexus continues to build its reputation with this luxury flagship boasting many firsts, including a novel automatic parking system and an 8-speed automatic transmission."We are honoured to receive this prestigious award recognis
Rolls-Royce unveils new convertible 2007-07-16 07:27:00 Rolls-Royce
Motor Cars unveils in France the new Phantom Drophead Coupe convertible which is to be handcrafted at the auto maker’s headquarters in Goodwood, U.K., and which joins the Phantom and Phantom Extended Wheelbase in the Rolls-Royce lineup. The auto maker says that early indications are the new convertible will prove popular in France.Marco Makaus, regional director for southern Europe, says that France is one of the principal style leaders in Europe and based on the interest from customers Rolls-Royce had so far, the auto maker is convinced that the Phantom Drophead Coupe will be a big market in France. Rolls-Royce says that the first cars are expected to be delivered in late summer. Read more:Rolls
Ford considers selling Volvo 2007-07-16 07:23:00 Although the review of Volvo is still at a very early stage and it might not be sold after all, especially that so far Ford Motor Co. had not hired financial advisers for the operation, the automaker is considering selling
its Volvo Cars business as it assesses the future of its European operations, according to a source familiar with the matter cited by Reuters.A London-based spokesman for Ford said that the automaker is not in discussions with any company to sell Volvo; however, Ford continues to assess options for all its operations.Last week, BMW Chief Financial Officer Stefan Krause, told a German newspaper that takeovers of other carmakers or brands are not ruled out, but also noted that any talk of a bid for Volvo Cars was "pure speculation." However, the speculation lifted shares in Swedish titruck maker Volvo around 5 percent on Thursday and analysts said there was market confusion as investors mixed up the Swedish truck maker with the Ford-owned auto maker.
America’s big three to hold contract talks with the UAW 2007-07-23 05:46:00 Negotiators from Chrysler Group and the United Auto Workers began with handshakes and smiles official contract
talks that are considered to be crucial to the survival of Detroit's three automakers. In reality, talks have been under way for months between the UAW and Chrysler, Ford Motor Co. and General Motors Corp., due to the multiple issues to address. After studies have shown that the Detroit automakers make around $2,000 less per vehicle due to labor costs than their Japanese rivals, mainly Toyota Motor Corp. and Honda Motor Co, officials of all three have said they need labor cost parity with their competition.The outcome of the negotiations largely depends on UAW President Ron Gettelfinger. After it gave health care concessions to Ford and GM in 2005, the UAW agreed to buyout and early retirement packages that have cut thousands of jobs. Last month it agreed to lower wages at struggling parts maker Delphi Corp. and assured that jobs at some plants would be preserved.All three De Read more:America
Quantum Fuel Systems reports drop in revenues 2007-07-23 05:43:00 Quantum Fuel Systems
Technologies Worldwide has reported a decrease in net revenues, from $45.8 million and $191.9 million for the corresponding periods in 2006, to $36.8 million and $146.7 million for the fourth quarter and fiscal year ended April 30, 2007, respectively. This is the result of a $5.1 million decrease in revenues within the Tecstar automotive group's segment and a $3.9 million decrease within the Quantum Fuel System segment. The company's net loss in the fourth quarter of fiscal 2007 represents $16.2 million, or $0.25 a share, from $14.5 million or $0.27 a share, in the same period of fiscal 2006.According to a company report, consolidated product sales dropped from $172.1 million in fiscal 2006, to of $130 million in 2007. This decrease is a result of lower revenues within the Tecstar automotive group's operations, partially offset by a 22% increase from $8.8 million in fiscal 2006 to $10.7 million in fiscal 2007 in product sales for the Quantum Fuel System segment.
Acura and Land Rover rank top in U.S. dealerships 2007-07-23 05:42:00 Honda Motor Co.’s luxury Acura
division topped a consumer satisfaction survey by Pacific Grove, California-based sales consultancy Pied Piper, which was intended to measure how well U.S. car shoppers felt they were treated in dealer showrooms and if they bought a vehicle on the spot. Acura was followed by Ford Motor Co Saturn. Study author and president of Pied Piper, Fran O'Hagan, said that the dealerships that scored well all give customers a reason to be interested other than the deal, and Acura dealers were very consistent in all the categories. Automakers among which Toyota Motor Corp, have made an effort to improve the quality of dealer service in response to complaints that dealers can be pushy, neglectful or less than transparent when asked to explain vehicle features and financing options.European import and luxury brands dominated the study based on a combination of results from a survey of random shoppers leaving 1,592 auto dealerships and results from paid researchers wh Read more:Rover
, Land Rover
Chrysler to drop new sedan due to upcoming regulations 2007-07-23 05:37:00 The Chrysler
Group is the first carmaker to announce a change in production plans related to the push in Congress to require that vehicles sold in the U.S. consume less gasoline, and therefore, it abandons a plan to build a new luxury sedan
, said New York Times report.A Chrysler spokesperson, Ed Saenz told the Times the environment was no longer favorable for a luxury Imperial model, and that in an era of $3 gas and more regulations on the way, this wasn’t a profitable business case anymore. According to Reuters, he added that the decision was reached by the automaker three weeks ago and had nothing to do with the group's sale to Cerberus Capital Management.
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