What's Hot And What's Not - A Special Holiday Issue of TheCarConnection.com
DETROIT, Dec. 23, 2002; Domestic luxury leader Cadillac isn't ready to cede the upcoming Detroit auto show to its import competition. Caddy plans to challenge ultra-lux marques such as Bentley, Rolls-Royce and Maybach with a 1000-horsepower V-16-powered concept vehicle that "suggests" an up- market shift in direction f ... Continue reading
Hyundai: Beijing Plant To Build 50,000 Cars in 2003
BEIJING, Dec 23, 2002; Reuters reported that South Korea's Hyundai Motor Co Ltd said on Monday it plans to make 50,000 passenger cars next year and 300,000 by 2005 at a new China joint venture to tap one of the world's fastest growing car markets. The figures, provided by the joint venture's chairman, Xu Heyi, in a sta ... Continue reading
Kia Sedona Named Best Van for 2003 by Sport Truck Connection
IRVINE, Calif., Dec. 23, 2002; Sport Truck Connection Television has announced the winners of its fourth Annual Light Truck and SUV Awards (ALTAS) and has named the Kia Sedona the best van for 2003, it's second consecutive win. The annual ALTAS Awards honor the staff's favorite vehicles, of those they have evaluated ov ... Continue reading
Penske Corporation Names Chief Financial Officer
DETROIT, Dec. 23, 2002; Penske Corporation announced today that effective January 1, 2003, J. Patrick Conroy will become Executive Vice President, Chief Financial Officer. Mr. Conroy joined Penske Corporation in 1999 and is currently Senior Vice President, Finance. Prior to joining Penske, Mr. Conroy was a Senior Vice ... Continue reading
Our European Bureau Chief looks back on 2002 The last thing you, our faithful readers need during the holiday season is a long, boring article about the rear suspension setting of some obscure automobile so let me make it brief. The choices are all mine so if you disagree please don’t blame anyone but yours since ... Continue reading
BEIJING, Dec 23, 2002; Scott Hillis wreiting for Reuters reported that Hyundai Motor Co Ltd rolled out its first China sedan on Monday and raised its sales outlook for the country by half as South Korea's top automaker revs up in one of the world's fastest-growing auto markets. Hyundai would make about 3,000 of its Son ... Continue reading
Volvo Sells 2,000 Buses In China
SHANGHAI, Dec 23, 2002; Reuters reports that Sweden's Volvo has sold around 2,000 buses to China's Dazhong Transportation (Group) Co for 1.6 billion yuan ($193 million), an official at Volvo's joint venture said on Monday. The deal is Volvo's biggest ever city bus deal, a spokesman for the Swedish firm's 50-percent-own ... Continue reading
Dallas: Give Us The Crown Vitoria Results Or We Will Sue!
DALLAS December 23, 2002; The AP reports that following a police officer's death in a fiery crash, city officials want to get safety test results on Crown Victoria cruisers fitted with shields that protect the vehicle's gas tank. Attorneys for the city of Dallas will sue Ford Motor Co. on Monday to obtain sworn testimo ... Continue reading
GM, Toyota to Make Vehicles That Use Hybrid Energy
December 23, 2002; The WSJ reported that General Motors Corp. and Toyota Motor Corp. are gearing up to produce hybrid gasoline-and-electric versions of sport-utility vehicles and pickup trucks, giving fuel-saving hybrid technologies a big push toward the mainstream market. It went on to say that, at the annual Detroit ... Continue reading
Whew! : XM Radio Announces $450 Million Financing Package
WASHINGTON, Dec. 23, 2002; XM Satellite Radio Inc. today announced a set of definitive financing agreements totaling $450 million -- consisting of $200 million in new funds from strategic and financial investors and $250 million in payment deferrals and related credit facilities from General Motors. The $200 million in ... Continue reading
Advance Auto Parts Appoints Gilbert Ray to Board of Directors
ROANOKE, Va., Dec. 23, 2002; Advance Auto Parts, Inc. announced today the appointment of Gilbert T. Ray to the Company's Board of Directors, effective December 19, 2002. Mr. Ray will serve as chairman of the Corporate Governance and Nominating Committee. Mr. Ray practiced corporate law for over 28 years. Until his reti ... Continue reading
PASADENA, Calif.--Dec. 23, 2002--As Bridgestone/Firestone experiences escalating problems with its Steeltex tires series, both nationally and internationally, the Southern California law firm which is handling a national class action lawsuit against the tire manufacturer has reported that complaints from the public abo ... Continue reading
JAGUAR INTRODUCES ALL-NEW 2004 XJ RANGE FOR 2004
THE NEW XJ AT A GLANCE 2004 Technical Specifications The new XJ is the most advanced production Jaguar ever. It is the seventh generation of the car recognized as the definitive Jaguar sedan. An aluminum monocoque body replaces traditional steel construction. Longer, taller and wider than its predecessor – with m ... Continue reading
Fiat May Have Staved Off Credit Downgrade
MILAN, Italy December 22, 2002; The AP reported that Fiat SpA appears to have staved off a credit downgrade with the sale of its 5.1 percent stake in General Motors Corp. and a 51 percent stake in its Fidis consumer finance arm. But while the injection of cash allows the Italian conglomerate to meet key debt-reduction ... Continue reading
South Korea: Local Used Car Sales, Exports to Break Record This Year
Seoul December 21, 2002; Kim Sung-jin writing for the Korean Times reported that sales of cars and trucks will reach the highest-ever figures this year despite the slowed economic recovery. According to the Korean federation of Automobile Dealers' Association yesterday, domestic sales of used cars in the first 11 month ... Continue reading
DaimlerChrysler Partners With NHRA Don Schmacher Racing
INDIANAPOLIS Dec. 23, 2002; Don Schumacher Racing announced it has reached a multi-year agreement with DaimlerChrysler to form a partnership and run the Dodge Stratus R/T Funny Car body, beginning with the 2003 NHRA POWERade drag racing season. "I can't tell you how excited I am to be reunited with the Dodge/Mopar fami ... Continue reading
Grand-Am GTS Series Champion Chris Bingham Joins NASCAR
Daytona Beach, FL, December 23, 2002: Christmas has come early for Grand-Am GTS Series Champion Chris Bingham. Bingham and Jay Robinson Racing join forces for the 2003 NASCAR Busch Grand National season. Bingham, in Daytona testing for the upcoming ARCA 200, has signed to drive the Jay Robinson No. 49 NASCAR BGN Ford f ... Continue reading
IMG and Elevation Motorsports Announce Agreement
CLEVELAND Dec. 23, 2002; IMG has reached an agreement to sell most of its North and South American motorsports business to Elevation Motorsports. Elevation is owned by Denny Young and Steve Lindecke - both currently senior executives at IMG who oversee the motorsports division. IMG will have a financial stake in this n ... Continue reading
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