Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Repercussions of failed automaker bailout spreading quickly]]>http://www.autoblog.com/2008/12/11/senate-fails-to-approve-automaker-bailout/http://www.autoblog.com/2008/12/11/senate-fails-to-approve-automaker-bailout/http://www.autoblog.com/2008/12/11/senate-fails-to-approve-automaker-bailout/#commentsFiled under: , , , ,

Nekkei index plumments, GM retains the services of bankruptcy advisors



Late Thursday evening, the U.S. automaker bailout bill failed to pass through the Senate. The legislation is dead and there are no plans for another bill to go through the process until the end of the year. To quote Senate Majority Leader Harry Reid, this will be "a very, very bad Christmas" for many Americans.

Over the past day, Senators have tried to resolve the House-approved bill so it could pass Senate Republican muster, but reports suggest that the UAW was unwilling to accept GOP demands that workers agree to parity in pay and benefits.

News of the failed bill has already spread to markets across the Pacific, with the Nikkei index nose-diving over 6%. Things on this side of the world are bound to be worse when trading on the New York Stock Exchange begins tomorrow.

According to reports, General Motors has got bankruptcy and restructuring advisors on speed-dial in preparation for the bad news and Chrysler has already retained CH11 counsel.

Countless economists and industry analysts are warning that if any one of the Detroit 3 goes under, it will spell disaster for an economy already suffering in a recession. Video of the vote is embedded after the jump. More to follow tomorrow.

[Sources: Reuters, Detroit News, Automotive News - Sub. Req.]

Continue reading Repercussions of failed automaker bailout spreading quickly

Repercussions of failed automaker bailout spreading quickly originally appeared on Autoblog on Thu, 11 Dec 2008 23:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>automakerbailoutchryslerfailsfailuregeneral motorsGeneralMotorsgmsenateThu, 11 Dec 2008 23:32:00 EST<![CDATA[UAW wants executive pay to be limited]]>http://www.autoblog.com/2008/12/01/uaw-wants-executive-pay-to-be-limited/http://www.autoblog.com/2008/12/01/uaw-wants-executive-pay-to-be-limited/http://www.autoblog.com/2008/12/01/uaw-wants-executive-pay-to-be-limited/#commentsFiled under: , , , , ,



The president of the United Auto Workers union, Ron Gettelfinger, said in a recent CNN interview that U.S. automakers need to tell Congress they will limit corporate pay, bonuses and severance packages in return for more government loans. Gettelfinger also said that the Detroit Three only need the loans to hold them over during these tough times. While the first statement from the union's top player seems like basic common sense, the second seems highly optimistic... especially when one considers the size of the industry and the depth of its issues. While no single event (or loan, for that matter) will likely turn around the downslide, all of those affected by the auto industry's potential demise will be interested in tomorrow's events. That's because Dec. 2 is the day House and Senate leaders told the automakers that they need to submit a "credible restructuring plan" that's convincing enough to get Congress to open its wallet when it reconvenes next week.

[Source: Reuters]

UAW wants executive pay to be limited originally appeared on Autoblog on Mon, 01 Dec 2008 12:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AutomakerBailoutBig ThreeBigThreeBillion dollarBillionDollarChrysler loanChryslerLoanDetroit 3Detroit ThreeDetroit3DetroitThreeFord loanFordLoanGM LoanGmLoanLoanUAWMon, 01 Dec 2008 12:32:00 EST<![CDATA[Intelligent Design: The evolution of the car logo]]>http://www.autoblog.com/2008/02/19/intelligent-design-the-evolution-of-the-car-logo/http://www.autoblog.com/2008/02/19/intelligent-design-the-evolution-of-the-car-logo/http://www.autoblog.com/2008/02/19/intelligent-design-the-evolution-of-the-car-logo/#commentsFiled under: ,


Automotive logos, those quasi-interesting designs that adorn the front and back of nearly every vehicle in the road, are more than just haphazard enameled scribbles. If you ask the marketing team, they will correctly tell you that each automotive logo symbolizes the tradition, culture, and history of the automaker it represents. (Don't ask the accounting department, which will just tell you it represents millions of dollars in design costs for haphazard enameled scribbles.)

After following a tip from a reader, we stumbled upon a site that offers excellent insight into the historical development of many popular automotive insignias, like Volkswagen's logo above. Take a look here. Thanks for the tip, Mike!

[Source: Neatorama]

Intelligent Design: The evolution of the car logo originally appeared on Autoblog on Tue, 19 Feb 2008 18:26:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AutomakerBadgeCrestEmblemInsigniaLogoManufacturerTue, 19 Feb 2008 18:26:00 EST<![CDATA[Canadian union calls Chrysler's actions "stupid"]]>http://www.autoblog.com/2007/11/22/canadian-union-calls-chryslers-actions-stupid/http://www.autoblog.com/2007/11/22/canadian-union-calls-chryslers-actions-stupid/http://www.autoblog.com/2007/11/22/canadian-union-calls-chryslers-actions-stupid/#commentsFiled under: , ,

Buzz Hargrove isn't mincing words about his opinion of Chrysler LLC's strategy. Calling the decision to send the Magnum and Pacifica models out to pasture and cut shifts and jobs at the Brampton, Ontario plant "stupid," Hargrove has said the Canadian Auto Workers aren't interested in the type of concessions the UAW recently agreed to. While the UAW is allowing new hires to be given a lower pay level, as well as taking on a health care trust fund, the CAW will be having none of that, according to Hargrove.

Cuts were expected, but Chrysler's recent scaling back is more than necessary, according to Hargrove, who counters that what the company's really trying to do is reduce supply in order to drive up demand and keep prices higher. It sounds like a good way to make the automaker profitable, thinning the lineup and trimming overproduction. The problem, according to The Buzz, is that Chrysler's plan is anathema to the long union tradition of providing jobs that pay well enough to allow a solid middle class life for autoworkers. With the pay cuts, Hargrove says that autoworkers will no longer be able to afford to buy the cars they build. The recent fall of the dollar isn't helping matters, and will likely give Chrysler another point to argue when asking for concessions. The Canadian Auto Workers will begin duking it out with Detroit in July, so expect the rhetoric to become even more heated in the months to come.

[Source: Automotive News - Sub. Req.]

Canadian union calls Chrysler's actions "stupid" originally appeared on Autoblog on Thu, 22 Nov 2007 15:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>autoautomakerbuzzbuzz hargroveBuzzHargrovecanadiancanadian auto workersCanadianAutoWorkerscawchryslerchrysler pacificaChryslerPacificaconcessionscontractdodge magnumDodgeMagnumhargrovelaborunionworkersThu, 22 Nov 2007 15:33:00 EST<![CDATA[China Reversal: Tiger Truck opens plant in Texas]]>http://www.autoblog.com/2007/03/15/china-reversal-tiger-truck-opens-plant-in-texas/http://www.autoblog.com/2007/03/15/china-reversal-tiger-truck-opens-plant-in-texas/http://www.autoblog.com/2007/03/15/china-reversal-tiger-truck-opens-plant-in-texas/#commentsFiled under: , ,

While other manufacturers are hurrying to move factories and parts suppliers to China, Chinese truck maker ChangAn is going the other way. Dallas-based Tiger Truck, the exclusive US importer of ChangAn vehicles, has announced plans to open an assembly plant in Jasper, TX. Tiger's vehicles are for off-road uses here in the US - applications such as groundskeeping, farming, and manufacturing. Tiger CEO Mike Ward is reportedly happy to be hiring U.S. workers and seeking contracts with US OEM suppliers. Tiger will be building two new platforms, the Champ full-size pickup, and a medium-duty truck with gross vehicle weights from 14,000 to 21,000 pounds. Tiger's trucks are EPA/CARB certified, as well as meeting frontal crash-test standards. The drivetrain options are wide-ranging, from 2WD to 4WD, hybrid, diesel, even electric. Tiger is serious about equipping work trucks, and there are all sorts of options and accessories available.

Initially, most of the Jasper plant's output will be for export, but the Tiger folks have designed growth into their plant. The Texas location is good for Tiger's exporting efforts to South America and the Carribean, as well as shipping to all points in the U.S. from their very own rail spur. The 100 employees will be capable of cranking out 7,500 vehicles per shift, according to Tiger's PR materials. If the dealer network and popularity of Tiger products grows, we'd expect to see the operation grow. Even if they're not for on-road use, we can see how these vehicles would be extremely useful, and we're encouraged by the decision to locate in the U.S. and employ U.S. workers, as well as involving U.S. OEMs.

Thanks to tipster Dan!

[Source: PR Inside]

Continue reading China Reversal: Tiger Truck opens plant in Texas

China Reversal: Tiger Truck opens plant in Texas originally appeared on Autoblog on Thu, 15 Mar 2007 13:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>assemblyautomakerbuildingchinalocationmanufacturingplanttexastigertiger truckTigerTrucktrucktrucksunited statesUnitedStatesUSThu, 15 Mar 2007 13:33:00 EST<![CDATA[Honda to build another North American factory?]]>http://www.autoblog.com/2006/05/16/honda-to-build-another-north-american-factory/http://www.autoblog.com/2006/05/16/honda-to-build-another-north-american-factory/http://www.autoblog.com/2006/05/16/honda-to-build-another-north-american-factory/#commentsFiled under: , ,

Honda Motor Company has designs on bringing a sixth plant to North America. According to the Associated Press, the automaker expects the facility to come on-line in 2009 and add 150,000 units of capacity to the automaker's operations, with an eye towards a second line potentially doubling the plant's output down the road. For its part, Honda spokesman Shigeki Endo wouldn't speak on the matter beyond suggesting that the report is "...based on speculation," but the automaker has a press Tokyo press conference scheduled for Wednesday.

If Honda decides to go ahead with the plant, it would augment the company's existing 1.4 million units of capacity  in North America, presently churning out from facilities in Ohio, Alabama, Mexico, and Canada.

[Sources: The Associated Press via SFGate.com; Daily Home]

Honda to build another North American factory? originally appeared on Autoblog on Tue, 16 May 2006 15:56:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AutomakerFactoryHondaManufacturingMarysvillePlantShigeki EndoShigekiEndoTue, 16 May 2006 15:56:00 EST<![CDATA[Read Bill Ford's lips: No bankruptcy for Blue Oval]]>http://www.autoblog.com/2006/04/06/read-bill-fords-lips-no-bankruptcy-for-blue-oval/http://www.autoblog.com/2006/04/06/read-bill-fords-lips-no-bankruptcy-for-blue-oval/http://www.autoblog.com/2006/04/06/read-bill-fords-lips-no-bankruptcy-for-blue-oval/#commentsFiled under: , , , , , ,

Ford Motor Company's Chairman and CEO Bill Ford is ruling out bankruptcy for the Blue Oval. The Henry Ford scion believes that the company's 'strong liquidity' ($31 billion in the coffers), downsizing efforts and profitable overseas operations will buoy the No. 2 automaker's fortunes.

Ford has turned in three straight years of profits globally (including $2 billion in 2005), but that's a 42-percent decline over 2004, and the Blue Oval lost $1.6B in North America, with market share down to 18-percent (it was 26-percent just ten years ago).

Ford did acknowledge that American auto industry is facing unprecedented challenges: "We've never had these kinds of wind buffeting us."

The company's NYSE shares fell 11 cents on Wednesday to close at $7.57.

[Sources: Associated Press via Newsday; Stern.de]

 

Read Bill Ford's lips: No bankruptcy for Blue Oval originally appeared on Autoblog on Thu, 06 Apr 2006 09:07:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AutomakerBankruptBill FordBillFordBlue OvalBlueOvalDearbornFordHenry FordHenryFordNYSEThu, 06 Apr 2006 09:07:00 EST<![CDATA[Japanese surpass GM in North American vehicle production]]>http://www.autoblog.com/2006/04/05/japanese-surpass-gm-in-north-american-vehicle-production/http://www.autoblog.com/2006/04/05/japanese-surpass-gm-in-north-american-vehicle-production/http://www.autoblog.com/2006/04/05/japanese-surpass-gm-in-north-american-vehicle-production/#commentsFiled under: , , , ,

It's official: Japanese automakers build more cars and trucks in North America than General Motors. The milestone has been expected for some time now, with manufacturers like Toyota and Honda churning out some 4.8 million vehicles in the region in 2005, and GM whittling away its totals to 4.6 million. The gulf is expected to accelerate as GM continues to 'right size' its manufacturing both within and beyond America's borders over the coming years.

The report by Scotia Economics indicates that Asian companies will increase their share of global capacity to 37-percent by decade's end (it was 34-percent in 2004). Further, it estimates that if GM and Ford can make good on their cutback plans, by the end of 2008 North American capacity will represent under 20-percent of global automaking capacity-- a number that stood at 30-percent as recently as 1999.

[Sources: AFP via Servihoo, Boston.com]

(Appreciate the tip, Carpenter!)

Japanese surpass GM in North American vehicle production originally appeared on Autoblog on Wed, 05 Apr 2006 08:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AssemblyAutomakerCapacityDownsizeFactoryGlobal EconomyGlobal productionGlobalEconomyGlobalProductionHondaJapanPlantScotia EconomicsScotiaEconomicsToyotaWed, 05 Apr 2006 08:02:00 EST