Automakers

Chrysler’s Congressman Says He’ll take Former Presidential Candidate up on His Offer, “anybody believes that Chrysler is going to survive, I'd like to meet them”

November 17, 2009 -- Washington, D.C. – Congressman Gary Peters, whose district is home to Chrysler Group LLC World Headquarters in Southeast Michigan, today challenged Senator John McCain’s prediction that Chrysler will soon fail and that preventing the collapse of American auto companies was a mistake.

As reported in the Detroit News this week, while serving as grand marshal of a NASCAR race in Arizona, Senator McCain said “anybody believes that Chrysler is going to survive, I'd like to meet them.”    » read more »

New requirement to win is good rating for protection in rollovers

ARLINGTON, VA — Nineteen cars and 8 SUVs earn the Insurance Institute for Highway Safety's Top Safety Pick award for 2010 For the first time, good performance in a roof strength test to measure protection in a rollover is required to win. Top Safety Pick recognizes vehicles that do the best job of protecting people in front, side, rear, and now rollover crashes based on good ratings in Institute tests.

Winners also must have electronic stability control, which research shows significantly reduces crash risk. This is the second time the Institute has tightened criteria since announcing the first recipients in 2005.    » read more »

November 16, 2009 -- WASHINGTON, D.C. – Today, General Motors announced that it plans to start repaying its government loans more than five years ahead of schedule and that it generated $3.3 billion in cash in the third quarter. Although the automaker did not post a profit, it exceeded expectations and increased revenue by 21 percent from the second quarter.

As Co-Chair of the Congressional Automotive Caucus and a native of Flint, MI, the birthplace of G.M., Congressman Dale E. Kildee (D-MI) has worked tirelessly to return the company to productivity and profitability and welcomed this encouraging news. Congressman Kildee released the following statement:    » read more »

Veteran Congressman Asks: Why Are Republicans Rooting for GM To Fail?

November 16, 2009 -- Washington, DC - Congressman John D. Dingell (D-MI15) made the following remarks after General Motors (GM) announced the company would repay the United States more than $1 billion dollars next month, years earlier than required.

“Today, General Motors has come forth with good news. The company is on its way to fulfilling its promise to America’s taxpayers – much sooner than expected or required. The new GM has a healthier balance sheet, reduced inventories and a competitive cost structure, putting it on a path towards repaying its debts and rebuilding the company’s value. The company is better situated to deal with economic hardship.    » read more »

Operating actions result in EBIT loss before special items of $261 million and managerial net loss of $1.2 billion; Accelerated plan to repay U.S. and Canadian taxpayers; first $1.2 billion payment in December

November 16, 2009 -- DETROIT – General Motors Company (GM) released today preliminary non-GAAP managerial results1 for its first 83 days of operation, providing an initial look at its financial performance since it began operations as a new company on July 10, 2009.    » read more »

Governor’s recent trip to Japan leads to investment, more than 100 new jobs in Kentucky

November 10, 2009 -- FRANKFORT, Ky. – Joined by officials from Hitachi Automotive Products (USA), Inc. Kentucky Governor Steve Beshear today announced the company will expand its Harrodsburg operation, adding a new advanced fuel system production line to the plant. Furthermore, the expansion could also result in an additional product line for hybrid electric products in the near future.    » read more »

TORRANCE, Calif., November 11, 2009 - - Toyota Motor Sales, USA, Inc. (TMS) announced today that it has joined U.S. Environmental Protection Agency’s (EPA) WasteWise program. As the first national voluntary solid waste reduction program, WasteWise encourages organizations to reduce municipal solid waste through waste prevention, recycling and buying or manufacturing recycled products.

“The WasteWise program is a great opportunity to recognize the efforts of Toyota associates that contribute to our waste reduction and recycling efforts every day,” said Bob Wade, corporate manager of environmental, hazardous material and safety.    » read more »

Search for New CEO Underway

November 10, 2009 -- DETROIT – Nick Reilly, GM executive vice president and president, GM International Operations, will immediately assume responsibility for the operations of Opel/Vauxhall Europe while an external search for a new CEO commences, it was announced today.    » read more »

Shows Nearly 200 Models Available That Achieve 30mpg Or More On Highway

November 5, 2009 -- According to the recently released Department of Energy-Environmental Protection Agency Fuel Economy Guide, for 2010 there will be 193 models available that achieve fuel economy ratings of 30 miles per gallon or greater on the highway. This signifies a 47 percent increase over 2009 and further underscores automakers’ commitment to bringing cleaner, safer and more fuel efficient vehicles to consumers.    » read more »

TOYOTA MOTOR CORPORATION (TMC) announced financial results for the six months ended September 30, 2009.

On a consolidated basis, the net revenues for the first half of the fiscal year totaled 8.378 trillion yen, a decrease of 31.3 percent compared to the same period last fiscal year. Operating income decreased from 582.0 billion yen to a loss of 136.9 billion yen, while income before income taxes and equity in earnings of affiliated companies was a loss of 63.0 billion yen. Net income* decreased from 493.4 billion yen to a loss of 56.0 billion yen.
* Net income attributable to Toyota Motor Corporation    » read more »

November 10, 2009 -- Shanghai – General Motors Company announced that the automaker and its joint ventures in China today surpassed 1.5 million units in sales for 2009. With a strong October, the GM China family continued its string of record monthly sales that began at the start of the year.

“This has been a year of records for GM in China,” said Kevin Wale, President and Managing Director of the GM China Group. “It is GM’s priority to put the customer at the center of everything we do. This is reflected in our vehicle design, engineering and production.”    » read more »

November 04, 2009 -- The National Highway Traffic Safety Administration (NHTSA) issued a statement today correcting inaccurate and misleading information put out by Toyota concerning a safety recall involving 3.8 million Toyota and Lexus vehicles:    » read more »

November 05, 2009
MONTGOMERY - Alabama is reaping rewards from Kia’s decision to build its first U.S. assembly plant just a few miles across the state line in Georgia.

The Alabama Development Office reports Kia is responsible for more than 3,600 new jobs at automotive supplier plants located in Alabama. Those workers are employed at 34 different plants in Alabama, including 12 new suppliers that located in the state since Kia announced its decision in March 2006.

Twenty-five of those 34 plants supply both Alabama’s Hyundai plant and the Kia plant in Georgia.    » read more »

Benefits from Higher MPG Levels Will Outweigh Modest Impact of Cap and Trade on Gas Prices; Net Gas Cost Savings For U.S. Motorists Seen Through Combined Impact Of Two Climate-Related Measures

November 3, 2009 -- Washington, D.C. -- Good news for American motorists: Despite doomsday prediction from energy-industry-funded interest groups, U.S. consumers actually will see a net reduction of $13 billion in 2020 and $46 billion in 2030 in their gasoline expenditures ($100 and $326 in average net savings per household, respectively) if Congress moves ahead to impose a cap-and-trade system, according to a new analysis from the American Council for an Energy-Efficient Economy (ACEEE).    » read more »

Honda and Acura models post double-digit gains

11.03.09 -- American Honda Motor Co., Inc., posted total October vehicle sales of 85,502, a decline of 4.0 percent compared to October 2008, based on the daily selling rate*. Honda Division posted October sales of 75,751, a decline of five units versus October 2008.

Honda total car sales decreased by 4.4 percent, to 44,537. Honda light-truck sales decreased 2.3 percent, to 31,214. Models showing sales increases included Accord with sales of 23,210, up 13.1 percent; CR-V with sales of 15,667, up 14.7 percent; and Pilot with sales of 6,339, up 22.7 percent.    » read more »