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Auto News 11/2008 (Page 2)
Democrats ask Bush to help ailing U.S. auto industry (Houston Chronicle)
Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest level in a quarter-century.
(Nov 8, 2008)
US Congress leaders call for auto industry support (EARTHtimes.org)
Washington - Congressional leaders Saturday joined president-elect Barack Obama's call for support of the ailing auto industry, sending a letter to Treasury Secretary Henry Paulson to tap money from the 700-billion-dollar financial rescue package. A...
(Nov 8, 2008)
Dems urge U.S. aid for carmakers (Moldova.org)
House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., say the auto industry should get help under the U.S. economic rescue plan.In a letter to Treasury Secretary Henry Paulson, Pelosi and Reid urged a review of the rescue plan to determine whether it can provide temporary assistance to the automobile industry during the current financial crisis, The Washington Post ...
(Nov 9, 2008)
Democrats ask Bush to bailout auto industry (KABC-TV Los Angeles)
Democratic leaders called on President Bush to bailout the ailing auto industry.
(Nov 9, 2008)
Democrats push to help auto industry (Winston-Salem Journal)
Democratic leaders in Congress asked the Bush administration yesterday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest level in a 25 years.
(Nov 9, 2008)
Demos urge aiding auto industry with bailout funds (Deseret Morning News)
Democratic leaders in Congress urged the Bush administration on Saturday to consider using the $700 billion bailout for the financial system to aid distressed American automakers, in a prelude to what may become urgent negotiations over additional economic stimulus measures.
(Nov 9, 2008)
Democratic leaders urge Treasury to aid auto industry (Newsday)
WASHINGTON - Democratic congressional leaders are urging Treasury Secretary Henry Paulson to use his authority under the $700-billion rescue bill passed last month to provide temporary aid to the auto industry.
(Nov 9, 2008)
Democrats ask Bush to help auto industry (The News Journal)
WASHINGTON -- Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs.
(Nov 9, 2008)
India Oct car sales fall 6.6 pct y/y - industry (Reuters via Yahoo! Philippines News)
NEW DELHI, Nov 10 (Reuters) - Car sales in India fell an annual 6.6 percent to 98,900 units in October, an industry body said on Monday.
(Nov 10, 2008)
(AFX UK Focus) 2008-11-10 04:39 India Oct car sales fall 6.6 pct y/y - industry (Interactive Investor)
NEW DELHI, Nov 10 (Reuters) - Car sales in India fell an annual 6.6 percent to 98,900 units in October, an industry body said on Monday. Sales of trucks and buses fell to 28,027 units in October, down 35.9 percent from a year earlier, the Society of Indian Automobile Manufacturers said in a statement.
(Nov 10, 2008)
Big banks back off consumer car loans (Detroit News)
Despite a $700 billion bailout, the nation's big banks are not in any rush to get back into the automotive lending business -- more bad news for an automobile industry struggling to rebound from some of the worst sales in decades.
(Nov 10, 2008)
Hyundai Falls on Speculation on Sales, Obama Policies (Update3) (Bloomberg)
Nov. 10 (Bloomberg) -- Hyundai Motor Co. , South Korea's largest automaker, fell on speculation that profit next year may be eroded by declining demand for autos worldwide and President- elect Barack Obama may adopt policies to protect the U.S. automobile industry.
(Nov 10, 2008)
French Industrial Production Drops as Automobile Industry Shrinks (Daily FX)
French September industrial production dropped -0.5% m/m, with manufacturing production down 0.8% m/m, bringing annual rates down to -1.9% y/y and -2.5% y/y respectively.
(Nov 10, 2008)
Mounting auto industry losses prompt push for federal bailout (USA Today)
The press for a federal bailout of the auto industry increased over the weekend. House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., said in a letter to Treasury Secretary Henry Paulson that the Bush administration should consider expanding the $700 billion financial rescue to include car companies.
(Nov 10, 2008)
Euro-zone group leader urges look at ways of supporting Europe's auto industry (Minneapolis-St. Paul Star Tribune)
PARIS - The euro zone countries are working to coordinate efforts to help Europe's auto industry along the lines of expected U.S. aid for its car sector, Luxembourg Prime Minster Jean-Claude Juncker said Monday.
(Nov 10, 2008)
FIA amends stewards policy:
In light of the controversial steward decision that cost Lewis Hamilton a potentially title-deciding win in the 2008 Belgian Grand Prix, the FIA World Motor Sport Council will implement changes for 2009 in the hopes of avoiding questionable...
(Nov 10, 2008)
Evernham leaves NASCAR team:
Ray Evernham, who left Hendrick Motorsports in 2000 to bring Dodge back into NASCAR and start his own team, soon will leave his post.
(Nov 10, 2008)
Team Australia done?:
Australian Craig Gore sent mixed signals, but it appears that his Team Australia IndyCar Series sponsorship package is in jeopardy.
(Nov 10, 2008)
Force India restructures:
As expected, the Force India F1 Team terminated its engine supply contract with Ferrari one year early and signed a five-year deal with McLaren-Mercedes that will see the team's cars use a McLaren-Mercedes powertrain--including engine,...
(Nov 10, 2008)
Toyota hybrid for Le Mans:
Toyota's return to the 24 Hours of Le Mans with a hybrid-powered prototype appears to be closer. Toyota, which last raced at Le Mans in 1999, admitted that it continues to develop its hybrid technology for racing.
(Nov 10, 2008)
F1 revises '09 calendar:
With the French Grand Prix out and no confirmation yet that the Canadian Grand Prix will be rescued by public funding for a new promoter, Bernie Ecclestone has shortened the 2009 Formula One schedule.
(Nov 10, 2008)
Pivato recovering:
WRC co-driver Patrick Pivato, given a 50 percent chance of survival following an accident during the Rally Japan, is on the road to recovery.
(Nov 10, 2008)
Renault extends Alonso:
Two-time Formula One world champion Fernando Alonso will remain with Renault F1 in 2009. Alonso, who switched from McLaren-Mercedes this year on a one-year contract, agreed to a new two-year deal, keeping him with the team through 2010.
(Nov 10, 2008)
Honda seat open:
F1 veteran Rubens Barrichello might have raced in his last Grand Prix.
(Nov 10, 2008)
India's auto sales plunged in October (AP via Yahoo! News)
Sales of passenger vehicles in India fell by 9.1 percent in October, as high interest rates and tight consumer credit took their toll on what had been one of the world's fastest growing automobile markets, according to the Society of Indian Automobile Manufacturers, an industry group.
(Nov 10, 2008)
China: Despite Financial Issues, Auto Industry Here Still Greening (Edmunds.com)
SHANGHAI, China — The world's current financial crunch should not slow carmakers' investment in fuel-efficient and eco-friendly vehicles, which are key for the sustained development of the auto industry, analysts said at the CEIBS 6th Annual China Automotive Industry Forum in Shanghai this week.
(Nov 10, 2008)
Democratic Congressional Leaders Urge Aid to Auto Industry (Fox News)
Democratic Congressional leaders urged the Bush administration to provide more aid to the struggling auto industry, which is bleeding cash and jobs.
(Nov 10, 2008)
2010 Fusion Hybrid to pace NASCAR finale:
If Carl Edwards takes the pole next weekend at Homestead-Miami Speedway, his racing-spec Ford Fusion will be the one to follow another Blue Oval offering--the 2010 Fusion hybrid to be unveiled days later at the Los Angeles auto show.
(Nov 10, 2008)
Automobile component industry in low gear (Business Standard India)
Less than two years back, the mood in the $18-billion Indian automobile component industry was buoyant. Every component maker worth his nuts and bolts had double digit growth rate on his future graph. But by the end of 2008, the outlook turned bleak to say the least.
(Nov 10, 2008)
GM shares tumble as US government ponders aid to auto industry (EARTHtimes.org)
New York - As Washington openly debated help for the beleaguered automobile industry, shares of General Motors plunged as much as 31 per cent Monday as a Deutsche Bank AG analyst speculated the shares may be worthless in a year. Even if GM succeeds ...
(Nov 10, 2008)
GM shares tumble as US government ponders aid to auto industry (New Kerala)
New York, Nov 11 : As Washington openly debated help for the beleaguered automobile industry, shares of General Motors plunged as much as 31 percent Monday as a Deutsche Bank AG analyst speculated the shares may be worthless in a year.
(Nov 11, 2008)
Global Cobalt Market to Reach 69 Thousand Metric Tons by 2012, According to New Report by Global Industry Analysts, Inc. (PRWeb via Yahoo! News)
World demand for cobalt is rising due to increase in usage of this metal in mobile phone batteries, false limbs, automobile rechargeable batteries, catalyst in industrial processes and fighter jets. The global cobalt market is projected to reach a volume of 69 thousand metric tons by the year 2012, reflecting a compounded annual growth rate of 5% over 2008-2012 period.
(Nov 11, 2008)
Revving Up in the Automotive Industry (Impressions Magazine)
Though automobile sales may be declining, many dealerships are looking for promotional products to give a much-needed boost. Nov 10, 2008 “People can have the Model T in any color — so long as it's black,” said Henry Ford, founder of Ford Motor Co. Although Ford might have been onto something with the Model T, it’s a good thing the idea didn’t catch on for promotional products, particularly in ...
(Nov 11, 2008)
AUTOMOBILE Magazine Names the Nissan GT-R Automobile of the Year (Business Wire via Yahoo! Finance)
ANN ARBOR, Mich.----AUTOMOBILE Magazine, America's leading automotive lifestyle publication and part of Source Interlink Media, LLC, a subsidiary of media and marketing services company Source Interlink Companies, Inc. , announced today that the Nissan GT-R is the 2009 Automobile of the Year.
(Nov 11, 2008)
(AFX UK Focus) 2008-11-11 20:01 US should help auto industry with liquidity-Obama (Interactive Investor)
WASHINGTON, Nov 11 (Reuters) - President-elect Barack Obama would like the government to find additional authority to deal with the liquidity crisis in the American automobile industry, Obama's transition co-chairman said on Tuesday. John Podesta said Obama stressed the need to help the ailing U.S. auto industry during talks with President George W. Bush at the White House on Monday. "He's ...
(Nov 11, 2008)
House Speaker backs auto industry aid (Reuters via Yahoo! News)
House of Representatives Speaker Nancy Pelosi said on Tuesday federal aid for the failing U.S. automobile industry was urgently needed and that she was confident Congress could act on emergency bailout legislation next week.
(Nov 11, 2008)
(AFX UK Focus) 2008-11-11 20:49 U.S. House Speaker backs auto industry aid (Interactive Investor)
WASHINGTON, Nov 11 (Reuters) - U.S. House Speaker Nancy Pelosi said on Tuesday federal aid for the failing domestic automobile industry was urgent and that she was confident Congress could act on emergency legislation next week. In a statement, Pelosi said she has asked House Financial Services Committee Chairman Barney Frank to work with House of Representatives and Senate leaders and the White ...
(Nov 11, 2008)
(AFX UK Focus) 2008-11-11 21:19 UPDATE 1-U.S. House Speaker backs auto industry aid (Interactive Investor)
WASHINGTON, Nov 11 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi said on Tuesday federal aid for the failing U.S. automobile industry was urgently needed and that she was confident Congress could act on emergency bailout legislation next week. In a statement, Pelosi said she has asked House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, to work ...
(Nov 11, 2008)
House Speaker backs auto industry aid (The Economic Times)
House of Representatives Speaker Nancy Pelosi said that federal aid for the failing US automobile industry was urgently needed.
(Nov 11, 2008)
Pelosi calls for emergency aid for auto industry (AP via Yahoo! News)
House Speaker Nancy Pelosi called for "emergency and limited financial assistance" for the battered auto industry on Tuesday and urged the outgoing Bush administration to join lawmakers in reaching a quick compromise.
(Nov 11, 2008)
2010 Bentley Azure T set for L.A. debut:
As it did with the Arnage, Bentley will add a more potent T variant to the Azure range, with a debut at the Los Angeles auto show this month.
(Nov 12, 2008)
Increased help for auto industry seems likely (The Buffalo News)
WASHINGTON -- Increased federal aid for the beleaguered American auto industry appeared Tuesday to be moving to the top of the agenda of next week's special session of Congress, with key lawmakers and aides to the outgoing and incoming presidents signaling a willingness to help.
(Nov 12, 2008)
Granholm: Auto industry crisis urgent (Detroit News)
WASHINGTON -- Gov. Jennifer Granholm says the crisis in the auto industry is urgent, and the government needs to act quickly to help U.S. automakers stay afloat.
(Nov 12, 2008)
Mich. Gov.: Auto Industry Faces Urgent Crisis (WCBS-TV New York)
Michigan Gov. Jennifer Granholm says the crisis in the auto industry is urgent, and the government needs to act quickly to help U.S. automakers stay afloat.
(Nov 12, 2008)
U.S. House Speaker Backs Auto Industry Aid (HispanicBusiness.com)
U.S. House of Representatives Speaker Nancy Pelosi said on Tuesday federal aid for the failing U.S. automobile industry was urgently needed and that she was confident Congress could act on emergency bailout legislation next week.
(Nov 12, 2008)
Pelosi pushes for more auto industry aid (Moldova.org)
U.S. House of Representatives Speaker Nancy Pelosi called for legislation that would enable U.S. automakers to participate in the $700 billion federal bailout.In a statement released Tuesday, Pelosi requested the House Financial Services Committee, led by Rep. Barney Frank, D-Mass., craft legislation to provide emergency and limited financial assistance to the automobile industry under the ...
(Nov 12, 2008)
GM Rises After Pelosi Urges Industry Aid Plan Passage (Update4) (Bloomberg)
Nov. 12 (Bloomberg) -- General Motors Corp. rose 5.5 percent in New York trading after House Speaker Nancy Pelosi urged Congress to pass an industry bailout, embracing the premise that GM is too big to be allowed to fail.
(Nov 12, 2008)
What Detroit could learn from Silicon Valley (CNET)
The U.S. automobile industry needs to learn to be competitive again, and not simply for government handouts.
(Nov 13, 2008)
NASCAR boss France softens line on industry's importance (Lexington Herald-Leader)
LOUISVILLE, Kentucky - With the U.S. automobile industry crumbling, NASCAR chairman Brian France softened his stance on the future of Ford, Dodge and General Motors in the sport they helped create. Days after saying the stock car series wouldn't "live or die" on the fates of America's Big Three, France said NASCAR was working aggressively to make sure the companies remain part of the ...
(Nov 13, 2008)
NASCAR boss France softens line on industry's importance (That's Racin')
LOUISVILLE, Kentucky - With the U.S. automobile industry crumbling, NASCAR chairman Brian France softened his stance on the future of Ford, Dodge and General Motors in the sport they helped create. Days after saying the stock car series wouldn't "live or die" on the fates of America's Big Three, France said NASCAR was working aggressively to make sure the companies remain part of the circuit's ...
(Nov 13, 2008)
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