plus 3, Ford to unveil Focus wagon at Geneva Motor Show - Yahoo Finance |
- Ford to unveil Focus wagon at Geneva Motor Show - Yahoo Finance
- Renault gears up in Russia for clunkers program - The Sun News
- GE Capital Provides $85 Million to U-Haul - Newswiretoday.com
- Toyota Expected to Post Big Losses in February Sales - U.S. News Rankings & Reviews
| Ford to unveil Focus wagon at Geneva Motor Show - Yahoo Finance Posted: 01 Mar 2010 08:34 AM PST DEARBORN, Mich. (AP) -- Ford Motor Co. plans to revive its Focus station wagon in Europe, but there are no plans at present to bring the sleek new five-door car to Ford's home market. The sporty wagon will be rolled out Monday at the Geneva Motor Show, targeted to European markets where wagons aren't seen as out-of-style like they are in the U.S. Company executives say wagons account for 30 percent of Focus sales in Europe, and it's 50 percent in countries such as Italy and Germany. The wagon, just like the Focus sedan and hatchback introduced earlier this year in Detroit, has sloping, aerodynamic lines that Ford says makes it look like it's moving even when it's not. Ford also announced that the Focus would globally get a version of Ford's Ecoboost direct-injection turbocharged engine, but the company would not reveal the size of the engine or other details about it. Ford has already announced plans to bring two-liter and 1.6-liter turbocharged engines to the U.S. The U.S. Focus, due in showrooms early in 2011, will be equipped with a two-liter engine. The Dearborn, Mich., automaker says the wagon is the fifth of 10 vehicles that it will build worldwide off its new global compact car underpinnings by 2012. So far Ford has announced the Focus sedan and hatchback, the wagon and the C-MAX and Grand C-Max models, which are like small sport utility vehicles. The wagon, though, won't make it to the U.S. unless Ford sees a change in the market. Frank Davis, executive director of North American product programs, said the wagon has a stigma in the U.S. and hasn't sold well in recent years. In the U.S., a previous generation Focus station wagon was only 14 percent of the Focus' sales at its peak in 2002. That dropped to 4 percent in 2007, the last year the wagon was sold in the U.S. You can blame memories of the 1960s family vacation for that. Market research has shown that many baby boomers associate station wagons with their parents and think they'll be perceived as old if they drive one. Frank Davis, Ford's executive director of North American products, says the wagon still has a stigma in the U.S., plus American consumers have other choices such as crossover vehicles and minivans. Crossovers are like a sport utility vehicle but built on a car frame instead of a truck. But Ford isn't ruling out bringing the wagon to North America should demand rise. Its factory in Wayne, Mich., where the Focus will be made, is flexible enough to handle an additional model, Davis said. "Because things in Europe and consumer tastes are starting to converge, if that happens, based our flexible body shop, we can bring it later," he said. In Europe, though, the wagon has always been popular, second only to the five-door hatchback for the Focus, John Fleming, Ford of Europe CEO, said in a statement. "These customers want the extra space and flexibility a traditional wagon provides, yet they still expect all of the technology, great driving dynamics, and superb styling," he said. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
| Renault gears up in Russia for clunkers program - The Sun News Posted: 01 Mar 2010 08:19 AM PST The Sandero joins the Logan model, which has been produced at the Moscow plant since 2005 and was the best-selling foreign car in Russia last year. Renault plans to introduce a third model, the Duster SUV, in late 2011. Renault faces tough competition in Russia. Logan overtook the Ford Focus in last year's sales by just 1,761 units. Ford is among the other global car makers that have started production in Russia in the past few years in an effort to cash in on the booming market. There are currently as few as 230 cars for every 1,000 people in Russia, compared to around 600 in Western Europe, according to Ghosn. Russia had been on track to become Europe's largest car market in 2008, but sales halved last year as the country was battered by the global economic downturn. Car sales are now back to 2005 levels, and industry analysts say they are likely to improve only slightly or remain flat in 2010. "We think the Russian market has bottomed out," Ghosn told journalists. "From now on we should see a recovery." In an effort to spur sales, the Russian government on March 8 is starting a highly anticipated scrappage scheme similar to the cash-for-clunkers programs that boosted sales across Europe and the United States in 2009. Drivers who turn in a vehicle that is at least 10 years old will receive a certificate for 50,000 rubles (about $1,670 or euro1,225) to put toward the purchase of a new car built in Russia. The incentive represents about one-sixth of the price of a Logan or Sandero. Ghosn met later Monday with Prime Minister Vladimir Putin, who has pushed Renault to strengthen its commitment to AvtoVAZ, Russia's largest car maker. Renault holds a 25 percent stake in the struggling company, which has received numerous state bailouts. Renault has pledged euro240 million ($362 million) in technology transfers, production machinery and technological expertise to AvtoVAZ, but has stopped short of financial aid. Renault's president on Monday reiterated the company's support for AvtoVAZ, but insisted that it was up to the Russian management to turn around the plant. Putin invited Renault to set up production of Nissan cars in Russia's Far East, where thousands of used Japanese cars were imported annually before the government drastically raised import duties last year, Russian news agencies reported. The French and the Japanese car makers are linked through cross-shareholding: Renault has a 44.4 percent stake in Nissan Motor Co., which in turn owns 15 percent of Renault. Putin also said Russia was going to sponsor Renault F1, the Formula-1 racing team of Russia's first F1 driver, Vitaly Petrov. He did not disclose the terms of the contract. The announcement of Renault's increased investment in Russia came the same day President Dmitry Medvedev began a state visit to France. Other foreign car makers also are raising their production on the Russian market. In February, Italy's Fiat SpA announced a euro2.4 billion ($3.3 billion) joint venture with Russian automobile company Sollers to produce up to 500,000 vehicles per year by 2016 at a plant in the Tatarstan region. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| GE Capital Provides $85 Million to U-Haul - Newswiretoday.com Posted: 01 Mar 2010 07:58 AM PST The loan will be used to refinance an existing securitization facility. Founded in 1945, Phoenix, AZ-based U-Haul (NYSE: UHAL) rents trucks and trailers, and offers self-storage rooms through a network of nearly 1,450 company-operated moving centers and approximately 14,500 independent U-Haul dealers. The company has the largest consumer rental fleet in the world, with over 101,000 trucks, 76,000 trailers and 34,000 towing devices. "With the recent uncertainty in the credit markets, we value and are very appreciative of GE's responsiveness in developing an excellent financing solution which met all of our financing needs," said Gary Horton, corporate treasurer of U-Haul. "In today's environment, finding the right lender who understands your business has never been more important," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "We strive to work with borrowers to find the right financing solution so clients benefit from smarter liquidity." Funding was provided through GE Capital, Corporate Finance's bank affiliate, GE Capital Financial, Inc.
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| Toyota Expected to Post Big Losses in February Sales - U.S. News Rankings & Reviews Posted: 01 Mar 2010 07:15 AM PST
February auto sales data will be released tomorrow, and the industry overall is expected to post small gains. On the other hand, Toyota is expected to suffer – a lot. According to CNN Money, "Sales tracker Edmunds.com forecasts U.S. market share for Toyota will fall to its lowest point in nearly five years, and that sales will tumble 10% from year-ago levels." Though Toyota will see big losses, most other automakers won't gain too much from its misfortune – with the exception of one. Autoblog says, "Edmunds and TrueCar reportedly think that winner will be Ford, as they estimate that the Oval will see a 35-percent sales increase. If correct, that'll vastly outpace the nine to 14 percent increase for the month that was previously forecasted." The Detroit News says GM is also expected to profit somewhat from Toyota's losses. However, they note "GM sales could have been higher and Vice Chairman Bob Lutz said earlier this month the automaker has left 'tons of money on the table' due to a shortage of vehicles such as the GMC Terrain, Chevrolet Equinox and some full-size sport utility vehicles." CNN Money cites estimates of overall sales from J.D. Power & Associates, noting that "industrywide sales are going to be up 8% from a year ago, but as was the case in January, fleet sales to businesses such as rental car companies should provide most of the lift. Sales to consumers are expected to be little changed from a year ago." Along with Toyota's recent rash of recalls, this winter's record snowstorms may also have put a damper on sales by keeping customers out of dealerships. Another factor keeping people out of dealerships is people's general lack of optimism regarding the economy, according to the Detroit Free Press: "Jessica Caldwell, director of industry analysis for automotive Web site Edmunds.com, said she is concerned about consumer confidence, which weakened in February. The Conference Board's trusted Consumer Confidence Index declined to 46.0 in February, down from 56.5 in January." Check out the latest Toyota recall news and information, including how the company's recent troubles affect our rankings. If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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