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Auto News 01/2009

Mining industry falters as recession spreads (AP via Yahoo! Finance)
After turning in a robust performance through June, most mining companies stumbled as automobile, housing and other manufacturers who use their metals cut back amid a global recession.

Why should we bail out US automobile industry (Arab News)
JEDDAH: According to reports published in Al-Seyassah, a Kuwaiti newspaper, and some other Gulf newspapers, the United States has asked four Gulf states for financial aid close to $300 billion to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

Global mining industry falters in 2008 as recession spreads; turnaround hinges on economy (Canadian Business)
After turning in a robust performance through June, most mining companies stumbled as automobile, housing and other manufacturers who use their

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

Meltdown, raw materials scarcity cripple plastic industry (New Kerala)
By Aparajita Gupta, Kolkata, Jan 1 : Low demand for plastic products due to global economic meltdown, coupled with scarcity of raw materials, has hit the plastic industry hard.

Auto sales on rough track (Hindustan Times)
COMMENT ON THIS ! Your Views! The automobile industry signed off 2008 on a dismal note as domestic sales in December continued to slide despite a 4 per cent cut in excise duties earlier in the month.

Meltdown, raw materials scarcity cripple plastic industry (Navhind Times)
KOLKATA- Low demand for plastic products due to global economic meltdown, coupled with scarcity of raw materials, has hit the plastic industry hard.

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

India's Dec. Car, Two-Wheeler Sales Tumble (Nasdaq)
(RTTNews) - The automobile industry ended on a sluggish note, as car and two-wheeler domestic sales in December fell even after the Indian Government announcing a 4% cut in excise duty earlier in the month.

Car sales plunge in Spain (AP via Yahoo! Finance)
Car sales in Spain plummeted by 28 percent last year, the worst slump on record, manufacturers said Monday. Automobile trade association ANFAC said 1.16 million vehicles were sold in 2008, down from 1.61 million the previous year.

U.S. Treasury releases guidelines on auto financing program (Market Watch)
(This article was originally published Wednesday.) WASHINGTON (MarketWatch) -- The U.S. Treasury Department released guidelines Wednesday on a financing program for the ailing automobile industry. The program was rolled out to prevent a significant disruption of the auto industry that could hurt the overall economy. President George W. Bush this month granted $17.4 billion in emergency loans to ...

Industry sulks at growth recipe Package focus on auto firms, core sector (The Telegraph)
New Delhi, Jan. 2: The government today announced its second stimulus package to rekindle growth in a stuttering economy but the measures failed to evoke a ripple of enthusiasm in industry.

Desperate Retailers Try Frantic Discounts and Giveaways (New York Times)
Stores and automobile dealerships are adopting virtually any tactic that might grab the attention of frightened consumers.

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

Auto dealers struggle to stay in business (Louisville Courier-Journal)
By the end of 2009, the National Automobile Dealers Association projects, one in 10 dealerships around the country will close.

Cadillac reveals second-generation SRX crossover:
Cadillac unveiled the next-generation SRX crossover, a vehicle the company says is redesigned from the ground up and offers new, more-efficient engine choices.

National crisis hits business at home (Evansville Courier & Press)
OWENSBORO, Ky. — One area automobile dealer who has been watching the news about a bailout for the automotive industry with great interest is Don Moore III of Owensboro. He's president of the Don Moore Automotive Group, which has 200 employees in Owensboro and Hartford and an annual payroll of $8.5 million.

The Clanton Advertiser (Clanton Advertiser)
Are things looking up in the car lot? Those who make their living selling automobiles had a difficult year in 2008. The automobile industry is one of the focal points of our economic slump. At the heart of it are the Big Three – General Motors, Ford Motor Company, and Chrysler Corporation.

Calls for Executive Firings Miss the Greater Economic Context (Washington Post)
CORNWALL, N.Y. Football is a business. But it's time to stop treating business as football. Specifically, I'm referring to the "Fire the Coach" approach to management. We've seen a lot of that lately, especially in the global automobile industry where business has been miserable.

A City Ride That's Rogue in Name Only (Washington Post)
NEW YORK -- It is the automobile industry's most inappropriately named vehicle -- the Nissan Rogue. It is a moniker bespeaking wayward nature -- excess horsepower, egregious fuel consumption, reckless speed.

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

Masland looks back over area industry and history (The Sentinel)
Frank E. “Mike” Masland III remembers the heyday of industry in the Carlisle area. From his days in the carpet industry at C.H. Masland through his retirement, the 87-year-old South Middleton Township man has had a few surprises but has no regrets.

Road Map To Ruin Was Clearly Drawn (New London Day)
It isn't as if the collapse of the auto industry comes as a surprise. Twenty years ago, the journalist David Halberstam wrote “The Reckoning,”

Premier: Plans Worked Out To Boost Auto Industry (The Auto Channel)
Shanghai, January 4, 2009: (Gasgoo.com) The Chinese government has finished drawing up policies to stimulate the steel and automobile industries, Premier Wen Jiabao said on Friday.

Freeman Moore Mazda closes Memphis dealership (BizJournals)
A slow economy continues to impact the local automobile sales industry as Freeman Moore Mazda closed its Memphis location at 2711 S. Mendenhall this month.

Dairy industry the latest to slump (Detroit News)
FOWLER, Calif. -- The long economic boom, fueled by easy credit that allowed people to spend money they did not have, led to a huge oversupply of cars, houses and shopping malls, as recent months have made clear. Now, add one more item to the list: an oversupply of cows.

Masland looks back over area industry and history (The Sentinel)
Frank E. “Mike” Masland III remembers the heyday of industry in the Carlisle area. From his days in the carpet industry at C.H. Masland through his retirement, the 87-year-old South Middleton Township man has had a few surprises but has no regrets.

Japan auto sales fall to 34-year low in 2008: industry group (AFP via Yahoo! Malaysia News)
New vehicle sales in Japan slumped to the lowest level in three decades in 2008 as recession hit Asia's biggest economy, piling pressure on its auto giants, an industry group said Monday.

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

Japan auto sales fall to 34-year low in 2008: industry group (TODAYonline)
People visit a Toyota showroom in Tokyo in December. New vehicle sales in Japan slumped to the lowest level in three decades in 2008 as recession hit Asia's biggest economy, piling pressure on its auto giants, an industry group said Monday.

Argentine Car Sales Probably Fell in December: Week Ahead (Bloomberg)
Jan. 5 (Bloomberg) -- Argentina’s automobile sales probably continued to decline in December as a global financial crisis undermined exports and discouraged domestic sales.

Suzuki puts kibosh on Kizashi sedan, report says:
Japanese automaker Suzuki has backed off plans to build large cars and build assembly plants overseas, according to a report in the Nikkei business newspaper.

China auto industry to be supported by new policies as Japan sales slide 5th January 2009 (Platinum today)
Chinese economic planners will implement a range of policies to help maintain the approximately ten per cent growth in the country's auto industry this year, according to reports today (5th January).

Hollywood muscle: Nicholas Cage to sell Hemi 'Cuda at Arizona auction:
He memorably played a car thief in Gone in Sixty Seconds, but actor Nicholas Cage is offering his 1970 Plymouth Barracuda through legal means: the Hemi hardtop is one of the headliners at Russo and Steele's annual auction in Arizona later...

Time for that long road trip (Hindustan Times)
COMMENT ON THIS ! Your Views! The travails of the automobile industry are emblematic of the deepening global economic crisis. While the focus of attention is on the bailout of the American Big Three (General Motors, Ford and Chrysler), similar requests are being made across the world.

City giving boost to auto industry (The Pasadena Citizen)
The nation’s major automobile makers may be seeking free handouts from the government, but the city of Pasadena is making those auto makers produce something for its money.

The Clanton Advertiser (Clanton Advertiser)
The news Monday wasn’t very good about sales in the automobile industry. Every manufacturer reported major sales decreases from 2007 to 2008 in December.

TOM WALSH: Car czar should be named now (Detroit Free Press)
This may sound pushy, or even panicky, but President-elect Barack Obama needs to name a car czar immediately to clear the air about the terms and conditions of federal aid to our quasi-nationalized automobile industry.

Bentley to debut Continental GTC Speed at Detroit show:
Bentley will complete its Speed portfolio when it introduces a freshened Continental GTC range at the Detroit auto show.

Ford leads Consumer Reports list of Detroit 3 picks:
Ford Motor Co. dominates a special list of Detroit 3 vehicle recommendations by Consumer Reports in its February issue.

AUTO SALES: GM, Ford, Honda, Toyota drag industry to 36% decline:
General Motors, Ford Motor Co., American Honda and Toyota Motor Sales U.S.A. all reported sales declines of more than 31 percent in December as the U.S. auto industry capped its worst year since 1992.

Hyundai incentive includes job loss insurance:
During a focus group meeting in late November, Joel Ewanick, Hyundai Motor America's vice president of marketing, realized no matter how much cash Hyundai piled on the fenders, it probably wasn't going to get buyers into showrooms.

Getrag to cut 141 jobs at Maiden facility (Automotive Business Review)
Getrag, a supplier of power take-off units, all-wheel drive systems, and drivetrain components to the automobile industry, has announced that it will be permanently laying off approximately 141 employees at its facility in Maiden, North Carolina, due to the continuing worldwide economic crisis.

Mitsubishi sales lowest in a decade (The Pantagraph)
NORMAL -- Mitsubishi fell short of breaking the 100,000 sales mark in what was a challenging year throughout the automobile industry.

Kia's concept for Detroit wears Soulster name:
Kia is tipping its Detroit auto show hand a little more by releasing another teaser shot of the concept vehicle it plans to debut.

First Chevy Camaro, Shelby GT500 to be auctioned for charity:
Want to buy the first retail versions of two future icons? Get ready to pony up--for charity.

Pontiac kills the G8 ST sport truck:
General Motors told dealers on Tuesday that it has decided to cancel the G8 ST sport truck that was due to launch late this fall.

Honda cancels V8 program, S2000 and CR-Z convertible, report says:
Fun appears to be on the chopping block at Honda. Plans for the successor to the S2000 sports car, a lineup of rear-drive Acuras, a proposed V8 engine and a drop-top built off the CR-Z hybrid are all dead, according to a report in a British magazine.

Masland looks back over area industry and history (The Sentinel)
Frank E. “Mike” Masland III remembers the heyday of industry in the Carlisle area. From his days in the carpet industry at C.H. Masland through his retirement, the 87-year-old South Middleton Township man has had a few surprises but has no regrets.

No more sops for auto industry: govt (Business Standard India)
The government today said the automobile sector has been given a "very strong" package indicating the industry should not expect more. "Auto stimulus has been very strong which has been announced few days back...," Department of Industrial Policy and Promotion Secretary Ajay Shankar said here.


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