Friday, August 3, 2007

Chrysler Acquisition Complete, Now Privately Owned

AUBURN HILLS - August 3, 2007: Chrysler officially made the break with former German partner Daimler on Friday, to become the first major, privately owned North American automobile manufacturer in more than 50 years. Under the $7.4 billion deal, initially announced May 14, 2007, private equity firm Cerberus Capital Man ... Continue reading

July Brings Historic Consumer Confidence in International Vehicles

Washington DC August 2, 2007; The AIADA newsletter reported thaty in July, international automakers won control of the U.S. market, with sales rising above 50% for the first time ever. "The consumer is the most critical component of the product strategy," said AIADA president Cody Lusk. "Plain and simple: international ... Continue reading

BorgWarner All-Wheel Drive System to Debut in All-New 2008 Cadillac CTS

AUBURN HILLS, Mich., Aug. 3 -- The all-new 2008 Cadillac CTS will offer BorgWarner's all-wheel drive (AWD) technology as optional equipment for the first time, beginning later this summer. The new InterActive Torque Management Transfer Case (ITM(R) tc) system uses sophisticated controls and algorithms to augment vehicl ... Continue reading

Ford Sky-high Over New 2008 Taurus - VIDEO ENHANCED

DEARBORN, July 31, 2007 - Ford is taking to the skies this month helping busy summer air travelers pass the time on their flights with entertaining content on seat-back tray tables. Beginning in July and running through September, tray tables on domestic airlines will feature exclusive content, including an interactive ... Continue reading

Two Millionth Ford Fiesta/Fusion Rolls Off Ford Plant Line in Cologne-Niehl

COLOGNE, August 2, 2007 - Another production milestone has been achieved today at the Ford plant in Cologne-Niehl when the two millionth vehicle in the Ford Fiesta/Fusion series rolled off the line. The two millionth vehicle was a Colorado Red Ford Fiesta ST, intended for a customer in Great Britain. Around 74 per cent ... Continue reading

Chrysler Financial Begins Operations as a Stand-alone Company

FARMINGTON HILLS, Mich., Aug. 3 -- The New Chrysler Financial, created as a result of the transfer of assets from DaimlerChrysler AG to an affiliate of Cerberus Capital Management, L.P., begins operations today as a stand-alone company supporting the sales operations and dealer network of "The New Chrysler," Chrysler L ... Continue reading

Cerberus Statement Regarding Chrysler Transaction Closing

NEW YORK, Aug. 3 -- Cerberus Capital Management, L.P. today issued the following statements with regard to the closing of the Chrysler transaction: Steve Feinberg, CEO of Cerberus Capital Management, L.P., said, "I would like to thank Chrysler employees for their continued commitment to Chrysler's turnaround. We look f ... Continue reading

AIADA Lists Top Ten Most Fuel Efficient Rides, New and Used

AIADA Affinity Partner NADAguides.com recently conducted an analysis of vehicles on its website to determine which yielded the highest fuel efficiency of all new and used cars listed. Results of the fuel efficiency analysis show Toyota and Honda vehicles listed on NADAguides.com are at the top in fuel efficiency in bot ... Continue reading

IHRA (MARTIN, MI) - Harold Martin Hopes Heat and Home Cooking is the Recipe...

In the fiercely competitive Pro Modified division of the Knoll Gas Nitro Jam Drag Racing Series, racers look for any means to gain an advantage over their rivals. Whether spending countless hours on the dynamometer searching for horsepower, or testing their race car under varying conditions to obtain valuable tuning da ... Continue reading

TEAM REPORTS (BUDAPEST) - HRF1 FREE PRACTICE

FREE PRACTICE The first free practice sessions for this weekend's Hungarian Grand Prix took place in Budapest today where the Honda Racing F1 Team drivers Jenson Button and Rubens Barrichello experienced a productive day of set-up work. In the opening session the track gradually picked up grip and both drivers were rea ... Continue reading

2007 Kia Sorento EX 4x4 Review

DRIVING DOWN THE ROAD WITH CAREY RUSS 2007 Kia Sorento EX 4x4 You know how there are restaurants and vacation spots that are remarkably good and great values but for whatever reasons are also almost completely unknown? In an automotive vein, Kia is like that. Case in point, the Kia Sorento. In a class dominated by a fe ... Continue reading

INDYCAR (INDIANAPOLIS) - SERIES NOTES

1. Did you know?<P> 2. Gregg subs for Klein at Kentucky<P> 3. Wood on the mend<P> <P> 1. Did you know?: August has been declared “Michigan International Speedway Month” by the Michigan House of Representatives and Senate in recognition of the track’s busiest month. ... Continue reading

IIHS: Bumpers On Luxury Cars Get More than $10,000 Damage in Minor Bumps - See Crash Video

Bumpers on luxury cars aren't luxurious: worst is Infiniti G35; 4 of 11 cars sustain more than $10,000 damage in 4 minor bumps ARLINGTON, VA — Bumpers, even those on expensive cars, don't resist damage in low-speed impacts. The Infiniti G35, the worst performer, sustained almost $14,000 damage in a series of 4 tes ... Continue reading

Nissan Concept Car to Showcase Anti Drunk-Driving Technology

TOKYO, Aug. 3 -- Nissan Motor Co., Ltd. has revealed a new concept car featuring multiple preventative features designed to reduce drunk-driving. The various technologies are designed to detect the driver's state of sobriety and to activate a range of preventive measures including immobilization of the vehicle. Alcohol ... Continue reading

Robert D. Welding Named Director of Cooper Tire & Rubber Company

FINDLAY, Ohio, Aug. 3 -- COOPER TIRE & RUBBER COMPANY announced today that its Board of Directors has named Robert D. Welding as a director of the Company, effective immediately. (Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO ) Welding, 58, is president and chief executive officer of Federal Signal Corp ... Continue reading

Searches for Fuel-Efficient Vehicles on Cars.Com Slow as Gas Prices Lower

Interest in Crossover SUVs Picks Up CHICAGO, Aug. 3 -- As gas prices begin to fall, so does consumer interest in fuel-efficient vehicles, according the latest Cars.com Consumer Search Index. Cars.com is reporting a decline in searches for hybrids and other fuel-efficient cars, all of which saw dramatic increases over t ... Continue reading

Cooper Tire & Rubber Company Declares 142nd Consecutive Quarterly Dividend

FINDLAY, Ohio, Aug. 3 -- Cooper Tire & Rubber Company today announced a quarterly dividend of 10.5 cents per share on common stock, payable Sept. 28, 2007, to stockholders of record at the close of business Sept. 4, 2007. This will mark the 142nd consecutive quarterly dividend paid by Cooper Tire & Rubber Company. ... Continue reading

Audi Gains Momentum

Germany's No. 3 luxury carmaker, after BMW and Mercedes, is on a tear, with new luxury models and older models that retain their cachet. Audi's sporty new models are rapidly narrowing the profit gap with BMWs and Benzes, according to results released by the company on July 3. According to BusinessWeek, Audi is on a tea ... Continue reading

Chrysler-Dodge Cava-Van Production Wins Chinese Government Approval

SHANGHAI - August 3, 2007: Chrysler-Dodge has obtained production license from National Development and Reform Commission (NDRC) to produce a new car model called Cara-Van, according to a NDRC announcement yesterday. "If everything goes smoothly, Chrysler-Dodge cars made in China will be launched in the last quarter of ... Continue reading

Toyota Announces Record First Quarter Operating Results

August 3, 2007 - Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating results for the first quarter ended June 30, 2007. On a consolidated basis, net revenues for the first quarter totaled 6.52 trillion yen, an increase of 15.7 percent compared to the same period last fiscal year. Operating income increased ... Continue reading

AAA Texas: Weekend Gas Watch: Consumers Continue to See Lower Prices at the Pump

IRVING, TX Aug 3, 2007; Texans continue to see a decline in gas prices as the average for a gallon of self-serve regular gasoline fell six and a half cents to $2.79, according to the AAA Texas Weekend Gas Watch. Prices are also lower across the country this week as the national average for a gallon of gasoline fell sev ... Continue reading

So. California Auto Club: Gas Price Decreases Gain Momentum

LOS ANGELES, CA Aug 3, 2007; Gas prices have been dropping over the past week at a pace of nearly a penny a day -- similar to the price drops experienced in Southern California at the beginning of summer, according to the Automobile Club of Southern California's Weekend Gas Watch. The average price of self-serve regula ... Continue reading

Spartan Chassis Receives $28 Million Subcontract to Supply Chassis Components for High Priority MRAP Vehicle Production

CHARLOTTE, Mich., Aug. 3 -- Spartan Chassis, Inc., a subsidiary of Spartan Motors, Inc. , today announced it has received a $28 million subcontract order from General Dynamics Land Systems to supply and integrate key chassis components in the production of advanced tactical vehicles under the Mine Resistant Ambush Prot ... Continue reading

Volkswagen at the IAA 2007: Marketing campaign with eight world premieres

Wolfsburg, 01 August 2007 - Volkswagen will present its widest product range of all time at the International Automobile Exhibition (IAA) in Frankfurt (13th to 23rdrd September). Europe's no. 1 will be presenting over fifty models on view in Hall 3.0 – eight of them world premieres. One of the highlights: the Tigu ... Continue reading

Quantum's Tecstar Automotive Group Awarded Contract by Ford for Production of the 2008 Ford F-150 Foose Edition

IRVINE, Calif., Aug. 3 -- Quantum Fuel Systems Technologies Worldwide, Inc., today announced that its Tecstar Automotive Group has entered into an agreement with Ford Motor Company for the production of the 450-horsepower 2008 Ford F-150 Foose Edition pickup truck. Under this agreement, Quantum's Tecstar Automotive Gro ... Continue reading

NYT says Ford Hopes to Sell Land Rover, Jaguar by September 30

NEW YORK Aug 3, 2007; Reuters reported that Ford Motor Co. is hoping to have a tentative deal to sell its Land Rover and Jaguar operations by September 30, and a pact to dispose of Volvo by the year-end, the New York Times reported on its Web site on Friday. The auto maker's advisers have begun putting together informa ... Continue reading

WTO to Adjudicate China Auto Parts Case by Jan 2008

SHANGHAI - August 3, 2007: The World Trade Organization (WTO) will adjudicate China's auto parts imports tariff case in January 2008, a senior official from Ministry of Commerce said yesterday. In March 2006, the United States, Canada and the European Union filed a complaint against China with the WTO regarding China's ... Continue reading

Groundbreaking Alternative Energy and Transportation Expo Featuring AltCar to Target Present, Future of Transportation

SANTA MONICA, Calif.--The Alternative Energy and Transportation Expo featuring AltCar (AltCar Expo), is a rare opportunity for the public to test drive the latest and most technologically advanced electric, natural gas, biodiesel, hydrogen, fuel cell and ethanol cars—some which are being unveiled for the first tim ... Continue reading

U.S. Auto Parts Network, Inc. Reports Second Quarter 2007 Results

- Net Sales of $42.1 million for Q2, up 56% over prior year - Earnings of $0.03 per share - Adjusted EBITDA of $3.8 million CARSON, Calif., Aug. 2 -- U.S. Auto Parts Network, Inc. , a leading online provider of aftermarket auto parts and accessories, today reported its financial results for the second quarter ended Jun ... Continue reading

AJC: Energy Bill With Strong CAFE Standards Essential

WASHINGTON, Aug. 2 /PRNewswire-USNewswire/ -- The American Jewish Committee today urged the House of Representatives to pass the New Direction for Energy Independence, National Security and Consumer Protection Act (H.R.32200) Robust CAFE (Corporate Average Fuel Economy) standards must be an essential part of any compre ... Continue reading

Azure Dynamics Signs Memorandum of Understanding With Utilimaster for Hybrid Vehicle Integration

TORONTO, August 2 -- Azure Dynamics Corporation (TSX: AZD & LSE: ADC) ("Azure" or the "Company"), a leading developer of hybrid electric and electric powertrains for commercial fleet vehicles, today announced it has signed a Memorandum of Understanding ("MOU") with Utilimaster Corporation ("Utilimaster"), a leading bui ... Continue reading

New Suzuki Products for 2008 Expected to Create a 'Second Selling Season' Can You Say Hayabusa?

SALEM, Ohio, Aug. 2 -- Giant Motorsports, Inc. (OTC Bulletin Board: GMOS) (the 'Company') based in the Midwestern United States is one of the largest Suzuki dealerships in America. Giant is looking forward to the fall season because Suzuki is going to provide North American Dealerships with more new and exciting produc ... Continue reading

China's Geely Automotive To Cut Its Chinese Auto Parts Suppliers By Half

SHANGHAI - August 3, 2007: Geely Automobile Holdings Ltd, China's largest privately-owned carmaker, plans to cut its spare parts suppliers in China by over 50% in the near future. Meanwhile the company also set up a management team to take charge of the company's spare parts purchase procedures, spare parts inventory a ... Continue reading