“Russia's auto production decreases by 61% in 2009 - Zee News” plus 4 more

Russia's auto production decreases by 61% in 2009 - Zee News
UPDATE 1-Dongfeng Motor raises 2009 sales target 18 pct - Reuters
Auto Racing Headlines - Rotoworld.com
Todd Bodine | - Rotoworld.com
Crash involved dump truck and auto - WLFI.com

Russia's auto production decreases by 61% in 2009 - Zee News

Posted: 25 Aug 2009 11:25 PM PDT

Moscow: Russia's auto production decreased by 61.4 percent in the first seven months of the year, a report said.

The production of vehicles - cars, trucks and buses - stood at 414,100 units in comparison to 1,071,000 in 2008, a report by ASM Holding, country's automobile industry monitoring agency said.

Between January-July, production of Russia-designed cars dropped by 36.3 percent in contrast to 2008 and amounted to 185,020 cars, report said, adding that the output of foreign-brand cars in Russia went down by 46.9 percent.

In the same period, car production by Russia-located assembling plants amounted to 114,300 cars or 53.4 percent lesser than in January-July 2008, the agency said.

In the first seven months of the year, Russia's truck production decreased by 71.4 percent to 48,700 trucks in comparison to 170,262 vehicles in 2008.

The production of buses also dropped by 61.6 percent to 16.113 units, as compared to 41,914 buses in 2008.

Bureau Report

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UPDATE 1-Dongfeng Motor raises 2009 sales target 18 pct - Reuters

Posted: 26 Aug 2009 03:07 AM PDT

* Dongfeng sees China car sales up 15 pct/year through 2012

* Says not considering bid for Volvo

* Lifts 2009 sales target by 18 pct (Adds details and share price)

By Alison Leung

HONG KONG, Aug 26 (Reuters) - Dongfeng Motor Group (0489.HK), China's No.3 carmaker, said it expects the domestic market to grow an average 15 percent over each of the next three years, fueled by strong appetites among an emerging middle class.

China's auto industry has been challenging and volatile since the second half of 2008 amid the global financial crisis, but it has started to recover this year on stronger domestic demand under the government's stimulus policies.

The penetration rate of passenger cars in China, which has became the world's largest auto market, remained very low, said President Liu Zhengming.

"As second- and third-tier cities develop, we expect the market to see 20 percent growth in 2010, and 15 percent in the next three years," Liu told a media briefing on Wednesday to discuss the company's first-half results.

"We are optimistic about the development of China's auto industry. The market is having 10 years or more of speedy growth," he said.

He added that Dongfeng had raised its 2009 sales target 18 percent to 1.3 million vehicles, from 1.1 million.

Dongfeng sold 735,824 vehicles in the first seven months of 2009, up 11.6 percent from the same period last year. Passenger car sales rose nearly 30 percent to 546,729 units for the January-July period, but commercial vehicles sales fell 20.6 percent to 189,095 units, the company said. The carmaker reported a 5.4 percent rise in first-half net profit to 2.61 billion yuan, beating the consensus for a flat first half. [ID:nHKF080367]

NO PLANS FOR VOLVO BID

Dongfeng, a joint venture partner of Honda (7267.T), Nissan (7201.T) and PSA Peugeot-Citroen (PEUP.PA), also said it was interested in overseas assets but would proceed with caution.

"Our group has been taking a relatively cautious approach toward M&As and any possible targets must compliment the company and create synergy," said Vice-President Zhou Wenjie.

Dongfeng had discussions with Volvo AB (VOLVb.ST) on possible strategic co-operation in the commercial vehicles business three years ago but the talks stopped as Volvo had to clear up its China business, Zhou said.

Volvo is now withdrawing from its China truck venture with the state parent of Sinotruk (3808.HK), triggering speculation that a tie-up with Dongfeng may be possible as regulatory hurdles clear. Continued...

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Auto Racing Headlines - Rotoworld.com

Posted: 25 Aug 2009 05:20 PM PDT

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Todd Bodine | - Rotoworld.com

Posted: 25 Aug 2009 08:19 PM PDT

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Crash involved dump truck and auto - WLFI.com

Posted: 19 Aug 2009 11:08 AM PDT

TIPPECANOE COUNTY, Ind. (WLFI) - Confusion about a stop sign led to crash involving a car and a dump truck yesterday that injured three and kept officers on the scene for over three hours.

The accident took place just after noon on Wednesday. 21-year-old Danielle Zuehlke of West Lafayette was heading south on 75 East when she came to the intersection with 600 North.

Mistakenly believing it to be a 4-way stop, Zuehlke failed to yeild to a Baumgartner trucking dump truck driven by 54-year-old Joseph Killian of Colburn, which had been eastbound on 600 North.

After being struck, Zuehlke's vehicle went off the road and through a nearby fence. Killian's truck continued on to hit a Tipmont REMC utility pole.

Police remained on the scene until 3:45 p.m.

Zuehlke and her passenger, 25-year-old Samuel Blackwell, were taken to St. Elizabeth East. Blackwell sustained major injuries, including damage to his face, but is listed in stable condition. Zuehlke sustained minor injuries.

Killian sustained minor injuries and was treated and released at the scene.

Both drivers were insured.

Zuehlke has not been ticketed for failure to yeild.

CORRECTION: It was originally mistakenly reported that the dump truck involved was a Tipmont dump truck; this is incorrect. It was a Baumgartner dump truck, the utility pole hit belonged to Tipmont REMC.