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Edmunds' AutoObserver Blog
This blog is intended for Michelle Krebs to provide additional insightful automotive industry commentary and analysis.
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Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
COMMENTARY Behind the Headlines: News and Maneuvers Get Weirder
The auto industry seemed to have reached agreement earlier this month to hunker down and allow the geared-down Detroit auto show to flicker on without anything as distracting as news to interfere. A rundown of some of this week's happenings, along with the between-the-lines summary courtesy of AutoObserver's branded decoder ring. For more information, visit http://www.autoobserver.com/2009/01/commentary-behind-the-headlines-news-and-maneuvers-get-weirder.html.
January Car Sales Drop from December on Fewer Fleet Sales, Edmunds.com Forecasts
U.S. car and truck sales in January are expected to come in at a weak 730,000 units when automakers report them Tuesday.January sales are expected to be down 18.1 percent from very weak sales in December, Edmunds.com estimates, largely due to significantly lower rental-car and corporate fleet sales. Retail sales will be about flat with December's. For more information on January’s forecasted sales, visit http://www.autoobserver.com/2009/01/january-car-sales-drop-from-december-on-fewer-fleet-sales-edmundscom-forecasts.html.
UAW Job Banks Gone From Big Three
Ford said Thursday the United Auto Workers (UAW) union agreed to end its Jobs Bank for laid-off employees as the union had done with General Motors and Chrysler.Elimination of the controversial Jobs Bank was a requirement for GM and Chrysler to keep their loans from the U.S. government. For more information, visit http://www.autoobserver.com/2009/01/uaw-jobs-banks-gone-from-big-three.html.
Ford Loses $14.6 Billion in 2008; $5.9 Billion in Fourth Quarter
Reporting its biggest loses in its 105-year history, Ford Motor Co. said Thursday morning it lost $14.6 billion for the full year of 2008. In the fourth quarter alone, Ford lost $5.9 billion."Ford and the entire auto industry faced an extraordinary slowdown in all major global markets in the fourth quarter that clearly had an impact on our results," Ford CEO Alan Mulally said in a statement. For more information on this story, visit http://www.autoobserver.com/2009/01/ford-loses-146-billion-in-2008-59-billion-in-fourth-quarter.html.
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on
www.autoobserver.com:
GM, Chrysler Receive $13.4 Billion in Immediate Federal Loans
The Bush Administration announced Friday morning that it will provide $13.4 billion in short-term loans to General Motors and Chrysler; the automakers will receive another $4 billion in February. President George Bush admitted reluctance about providing government loans to the Detroit automakers but noted the beleaguered U.S. economy would suffer a harsh blow if one or more of Detroit's automakers collapsed into a "disorderly bankruptcy" at this time. "These are not ordinary circumstances," Bush said. "In the midst of a financial crisis and a recession, allowing the U.S. auto industry to collapse is not a responsible course of action." The money will come from the $700 billion Troubled Asset Relief Program (TARP). Automakers will get $13.4 billion immediately and another $4 billion from the fund in February to keep them operating through March. For more information on the loans, visit http://www.autoobserver.com/2008/12/gm-chrysler-receive-134-billion-in-immediate-federal-loans.html
Toyota Tracking To Post First-Ever Annual Loss
Japan's financial sector is buzzing with the prospect Toyota Motor Corp., one of the nation's most successful and powerful corporate entities, is likely to record its first-ever full-year operating loss, reports Japan's Nikkei English-language business newspaper. Toyota has not recorded an annual operating loss since it began publicly reporting its earnings in 1940, and the Nikkei says fallout from World War II led to Toyota's only pre-tax loss -- in 1949
For more information on Toyota’s situation, visit http://www.autoobserver.com/2008/12/toyota-tracking-to-post-first-ever-annual-loss.html
December Sales Rate Will Be Year's Lowest, Edmunds.com Forecasts
The deteriorating economy, the precarious employment situation and the lack of available credit will push the annual sales rate in December for U.S. car sales to their lowest level of the year below 10 million units, Edmunds.com forecasts. December sales (retail and fleet) are expected to total 852,000 units, a 38.4 percent decrease from December 2007 but a 14.6 percent increase from November, Edmunds.com predicts. Typically, December sales are about 18 percent higher than November's. For more information about Edmunds’ December sales forecast, visit http://www.autoobserver.com/2008/12/december-sales-rate-will-be-years-lowest-edmundscom-forecasts.html
Finalists Announced for 2009 North American Car and Truck of the Year Awards
Finalists for the 2009 North American Car and Truck of the Year awards were announced Thursday at the Detroit Economic Club's annual auto show luncheon. The finalists for the 2009 North American Car of the Year honors are the Ford Flex, Hyundai Genesis and Volkswagen Jetta TDI. Finalists for the 2009 North American Truck of the Year award are the Dodge Ram, Ford F-150 and the Mercedes-Benz ML320 BlueTEC. For more information on this story, visit http://www.autoobserver.com/2008/12/finalists-announced-for-2009-north-american-car-and-truck-of-the-year-awards.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on
www.autoobserver.com:
GM Wants as Much as $18 Billion; Prioritizes Brands
General Motors Corp. Tuesday released the plan submitted to Congress in application for federal bridge loans to carry the company through 2009, when it expects a host of structural improvements and general downsizing to create "a new General Motors, one that is lean, profitable, self-sustaining and fully competitive." GM’s plan includes a proposed reduction in brands, nameplates and retail outlets. What this means is somewhat fluid, particularly in terms of dealer reductions, but this much is evident: the Saab and Saturn divisions are earmarked for some type of departure and Pontiac seemingly will be deconstructed to a boutique-type brand. For more information on GM’s plan, visit http://www.autoobserver.com/2008/12/gm-wants-as-much-as-18-billion-prioritizes-brands.html
Funereal November Sales Provide More Ammo for Bailout Plea
In case members of Congress needed any more reminding why the domestic automakers are hat-in-hand before them this week, the 37 percent drop in November sales has provided them with the latest bleak snapshot of a moribund U.S. vehicle market. November sales were about 747,000 units compared with 1.2 million in November 2007, the lowest total sales for any month in at least 18 years. Every major manufacturer stumbled badly. For the year, U.S. auto sales were down more than 16 percent for the first 11 months, to 12.4 million from 14.8 million through November of last year. For more information on November sales results, visit http://www.autoobserver.com/2008/12/funereal-november-sales-provide-more-ammo-for-bailout-plea.html
Domestic Automakers Ease Off Incentives While Imports Rev Them Up in Pursuit of Market Share
Domestic automakers eased off the incentive gas in November while import automakers revved up incentives, according to Edmunds.com. "All three domestic automakers lowered their incentive spending this month, seeking to preserve cash during these incredibly tough times," said Jesse Toprak, Edmunds.com's executive director of Industry Analysis. "Meanwhile, the imports have poured more money into incentives, attempting to seize the opportunity to gain market share. Toyota's monthly incentives spend hit a new record high in November, and the company's market share might follow suit." For more information on current incentives, visit http://www.autoobserver.com/2008/12/domestic-automakers-ease-off-incentives-while-imports-rev-them-up-in-pursuit-of-market-share-edmundscom-reports.html
Potential for Swedish Intervention with Saab, Volvo Intensifies
Reports from Europe indicate the Swedish government may be considering an active role in assuring the continued future of Saab Cars and Volvo Car Corp., owned by GM and Ford, respectively. And Ford confirmed Monday it is exploring the possibility of selling Volvo - despite assertions earlier this year the company did not want to part with its Swedish division - saying in a press release the company "will re-evaluate strategic options for Volvo Car Corporation, including the possible sale of the Sweden-based premium automaker." For more information on this story, visit http://www.autoobserver.com/2008/12/potential-for-swedish-intervention-with-saab-volvo-intensifies.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on
www.autoobserver.com:
Tracking the Bailout: When the Music Stops, Who's Going Bankrupt?
The CEOs of Ford Motor Co., General Motors Corp. and Chrysler LLC loaded up on their much-maligned corporate jets and winged out of Washington, DC, this week with no bailout money - but the assurance of a shaky holiday season. After Democratic deal-makers conceded this week there would not be sufficient bipartisan support to approve a bill to "repurpose" the existing and already approved $25-billion Department of Energy loan (originally intended to promote the development of fuel-efficient technology and retool factories), the initiative was shelved until a possible vote on Dec. 8. That promises to be a rocky 17 days for GM and Chrysler, whose bosses insinuate the companies may not have the funds to enable them to see the New Year. For more information on this story, visit http://www.autoobserver.com/2008/11/caution-flag-waves-over-los-angeles-auto-show.html
Mitt Romney: Let Detroit Go Bankrupt
Detroit-born Mitt Romney, a candidate for this year's Republican presidential nomination and whose father was Michigan governor and an auto company executive, advocates letting Detroit automakers go bankrupt.
In an OpEd piece carried in Wednesday's edition of The New York Times, Romney, who is expected to make another presidential run in 2012, wrote: "Detroit needs a turnaround not a check." He suggested the turnaround path is through a managed bankruptcy. For more information on this story, visit http://www.autoobserver.com/2008/11/mitt-romney-let-detroit-go-bankrupt.html
Yeah or Nay on Bailout, But Don't Blame Detroit's Problems Only on Labor
Every day now, there are colliding opinions regarding whether an automaker bailout is wise - or politically and socially proper. As has been said many times as the domestic auto industry continues its frenetic unraveling, there's plenty of blame to go around, and a portion of it lies with the unions. The United Auto Workers has rarely been out of the conversation of what's ruined Detroit Inc., but arguments centered on the notion that fat, uncompetitive unionized labor is the root cause of Detroit's ills are specious - and little more than an excuse for some good-old-fashioned union-bashing. For an explanation of why this is the case, visit http://www.autoobserver.com/2008/11/yeah-or-nay-on-bailout-but-dont-blame-detroits-problems-only-on-labor.html
Sen. Shelby: How Sweet Is the Auto Business in Alabama? Not Very
Richard Shelby, the top Republican on the Senate Banking Committee, took to the airwaves over the weekend as the chief opponent of loans to Detroit automakers. His premise: This is a Detroit problem not a national problem and taxpayers shouldn't subsidize these poorly managed dinosaurs. But Shelby's state of Alabama is home to a trio of auto assembly plants and their affiliated auto suppliers. Alabama lured automakers to the state by dangling millions and millions of financial incentives in front of them in the form of infrastructure construction and improvement, job training for workers and tax breaks for the auto companies. In fact, in every case, Alabama outbid other states with its attractive offer, like the $30-million training center that Honda said clinched the deal for its choice. For more information on this story, visit http://www.autoobserver.com/2008/11/sen-shelby-how-sweet-is-the-auto-business-in-alabama-not-very.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
Ford Loses $129 Million in Third Quarter; Nearly $3 Billion Before Special Charges- Ford Motor Co. reported Friday a net loss in the third quarter of $129 million, compared with a net loss of $380 million in the third quarter of 2007. As expected, the loss prompted Ford to announce more cost cutting measures. They include: an additional 10-percent reduction in North American salaried ranks, a freeze on salaried pay increases and bonuses and an elimination of company matching funds to savings plans. For more information on Ford’s situation, visit http://www.autoobserver.com/2008/11/ford-loses-129-million-in-third-quarter-nearly-3-billion-before-special-charges.html
Want the $25 Billion? Here are the Hoops to Jump Through - The U.S. Department of Energy Thursday issued the draft rules for automakers seeking the long-ballyhooed $25 billion in loans Congress recently approved for automakers (and suppliers) to retool factories to produce a new generation of more fuel-efficient vehicles. Sure, strings had to be attached, or the automakers would burn through the dough like sailors on shore leave. But saying there are hoops to jump through in this “interim final rule” is an understatement. For more information on the requirements, visit http://www.autoobserver.com/2008/11/want-the-25-billion-here-are-the-hoops-to-jump-through.html
Toyota: Biggest Profit Drop in a Decade - You know things are bad when seemingly invincible Toyota is struggling, and it is. Calling the current economic environment "unprecedented," Toyota reported Thursday its quarterly profit plunged 69 percent, mainly due to slumping vehicle sales in the U.S. and Europe, where Toyota lost money, as well as depreciation of the yen versus the U.S. dollar. Toyota's earnings drop was far more dramatic than analysts had anticipated and prompted Toyota executives to severely downgrade its profit forecast for the year. For more information on Toyota’s sales slump, visit http://www.autoobserver.com/2008/11/toyota-biggest-profit-drop-in-a-decade.html
Cash Crunch Simultaneously Prods, Prevents Castoff of Swedish Automakers- With operating revenue becoming an increasingly scarce commodity in Detroit, General Motors Corp.'s and Ford Motor Co.'s luxury of maintaining their premium-brand but low-performing Swedish automaking units is likely to earn deeper scrutiny in the coming months. Sources at GM and Ford currently offer no clue as to whether Saab or Volvo is actively being shopped, but the option must be on the table. For more information on this story, visit http://www.autoobserver.com/2008/11/cash-crunch-simultaneously-prods-prevents-castoff-of-swedish-automakers.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
October Auto Sales to Be the Lowest Since January 1992, Edmunds.com Forecasts- October auto sales are turning out to be every bit as bad as forecasters predicted early in the month. Edmunds.com forecasts October new vehicle sales, including fleet and retail, will again fall below the 1-million mark to 872,000 vehicles sold - about 30 percent below October 2007. October 2008 will mark the U.S. auto industry's lowest sales level since January 1992. For more information on projected auto sales, visit http://www.autoobserver.com/2008/10/2008-paris-auto-show-the-good-the-bad-and-the-ugly.html
The World Without Chrysler As We Know It - Talk of possible mergers between General Motors and Chrysler or Nissan-Renault and Chrysler are reaching a frenzied pitch. Word is a deal could happen at least by Election Day, Nov. 4. So what automaker would benefit most from a partnership with Chrysler, or which would benefit most if ailing Chrysler simply went away? An analysis of consumer shopping trends by Edmunds.com, parent of AutoObserver.com, shows Chrysler buyers would likely go to GM vehicles if Chrysler simply went away, as GM vehicles are high on the shopping lists of Chrysler, Dodge and Jeep shoppers. For more information on this story, visit http://www.autoobserver.com/2008/10/the-world-without-chrysler-as-we-know-it----and-the-road-kill-left-behind.html
New 'Juice' for Chevy Volt Development- General Motors Corp. reportedly has settled an important matter in the development of its Chevrolet Volt extended-range electric vehicle: the company is said to have decided on the supplier for the critical lithium-ion batteries necessary for the Volt to travel as far as 40 miles on a single charge. GM reportedly will award the high-profile contract to Michigan-based Compact Power Inc., an arm of South Korea's LG Chemical. For more information on this story, visit http://www.autoobserver.com/2008/10/new-juice-for-chevy-volt-development.html
Renault Styling Plays It Safe, But Only Bold Moves Will Ensure the Company's Survival - At the recent 2008 Paris Auto Show, Renault unveiled its new C-segment Mégane hatchback and coupe. Sized and priced to compete with Europe's best-selling vehicle, the Volkswagen Golf, the Renault Mégane is vital to the French automaker's financial health that has been in decline in recent months. As Renault plays it safe with the styling of its Mégane and other models, only a bold move -- as speculation has it with Chrysler or Ford -- may bolster its shot at survival. For more information on Renault’s sales and strategy, visit http://www.autoobserver.com/2008/10/renault-styling-plays-it-safe-but-only-bold-moves-will-ensure-the-companys-survival.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
October Sales Remain in Freefall; Zero-Interest Financing Provides Little Lift - October automotive sales continue to be in freefall from September with zero-percent financing offered by auto manufacturers providing little, if any, incentive for people to buy cars. "The automotive market slowdown has entered a new phase," said Edmunds.com Chief Executive Officer Jeremy Anwyl. "Barraged by bad economic news, consumers, instead of hoping for the best, now are preparing for the worst, and that includes postponing even the thought of buying a car."
For more information on October sales, visit http://www.autoobserver.com/2008/10/october-sales-remain-in-freefall-zero-interest-financing-provides-little-lift.html
Fall of the Mighty Nameplates, Chapter 1: Ford Explorer- It's the toughest of times all around the auto sector, and plunging sales for entire companies, much less individual models and nameplates, currently are the rule, not the exception. But when a staggering giant of a nameplate comes to our attention thanks to the number crunchers at Edmunds.com, cratering sales become an item that can't be ignored. Exhibit No. 1: Ford Motor Co.'s Explorer midsize SUV. The model that epitomized the mass-market SUV at the zenith of the genre's popularity now has dissipated to barely a blip on the sales charts. For Explorer sales data and more information on this story, visit http://www.autoobserver.com/2008/10/fall-of-the-mighty-nameplates-chapter-1-ford-explorer.html
Credit Meltdown Eliminating Dealers As Automakers Couldn't- The Big Three U.S. automakers have been trying to get rid of their weakest dealers for years, but the weeding-out process has gone far, far more slowly than car company executives have wanted. Now, this year's double-whammy of economic shocks - explosive gasoline prices that scared consumers away from large vehicles, followed by the current financial crisis that is constricting credit at every level - has already begun culling out U.S. car dealerships at a rate far faster than General Motors, Ford and Chrysler brain trusts could even dream was possible by their methods. For more information on this story, visit http://www.autoobserver.com/2008/10/credit-meltdown-eliminating-dealers-as-automakers-couldnt.html
2008 Paris Auto Show: The Good, the Bad and the Ugly- Everyone loves coming to the Paris auto show. Mostly this is because it is not the Frankfurt auto show, with which it alternates on the yearly schedule of auto shows.
Paris is the City of Lights, and the French car manufacturers like to demonstrate that they have the same competence as the Germans, only with romance and flair. The French tell you, "Yes, our cars might look funny, but we understand Joie de vivre, the joy of life. Of course our cars might look freaky and whacked out, but you are stupid if you don't understand." For Paris auto show highlights, visit http://www.autoobserver.com/2008/10/2008-paris-auto-show-the-good-the-bad-and-the-ugly.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
Ford's European Models: We Want Them Today -- Even Better, Yesterday!- Because Ford Motor Co. intends to eventually sell the same small Fords everywhere in the world - similar to the ones Ford of Europe has been selling for years - the automaker hosted media from North America, South America, South Africa and Australia to test-drive its current European offerings. At Ford's proving grounds in Lommel, Belgium, journalists test drove the current C-segment Focus and Focus-based models already sold in Europe. For Edmunds’ reviews of these vehicles, visit http://www.autoobserver.com/2008/09/fords-european-models-we-want-them-today----even-better-yesterday.html
Chevy Volt Styling Is A Short-Circuit- If images circulated on the Web this week are representative of the Chevrolet Volt General Motors Corp. plans to deliver in two years, the General had better hope potential customers appreciate the engineering - because the Volt's design is a corporate brownout. AutoObserver's all-day cruise around auto-related Web sites noted heavy-traffic comment about the leaked images of the Volt extended-range electric vehicle; some are mildly complimentary, but critics seem to outnumber approvers by at least four to one. For more reactions to images of the Volt, visit http://www.autoobserver.com/2008/09/chevy-volt-styling-is-a-short-circuit.html
Ford's Mulally: U.S. Recession is Spreading- Everything you read in the media about the poor state of the economy and the struggles of the auto business is true, Ford President and CEO Alan Mulally said Monday. "The U.S. economy is in recession and the rest of the world is slowing down," Mulally told members of InForum, a Michigan women's professional group. "The Middle East is slowing down, and Europe is slowing down. It really is tough out there."
For more information on this story and Mulally’s comments, visit http://www.autoobserver.com/2008/09/fords-mulally-us-recession-is-spreading.html
Luxury Brands Gut Out Downturn, Along With Their Customers- Sales of automotive luxury brands are struggling just like the overall U.S. market is. Collectively, so far this year, upscale marques have only managed to hold on to their 11 percent share of the market from 2007. And some of the loftiest brands in the American auto business have been demonstrating some of the least resiliency. Lexus, for example, is off 15 percent in 2008 sales through the end of August, and BMW brand has suffered a decline of 7 percent. For more information on this story, visit http://www.autoobserver.com/2008/09/luxury-brands-gut-out-downturn-along-with-their-customers.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
When Times are Tough, Drop the Top- It may be tough sledding these days in the heart of the market, with deep incentives on just about everything with an internal-combustion engine, but the sharply downturning U.S. market hasn't affected one of the industry's oldest niches: convertibles. Times may be bad, but as the summer winds down, many convertibles are more than holding their own in the showroom, led by a few new names but supported by some old stalwarts. More information on this story and convertible sales, visit http://www.autoobserver.com/2008/08/when-times-are-tough-drop-the-top.html
Nissan Paid for July Sales, Share Bump, Edmunds.com Analysis Shows- Last month, observers marveled that Nissan was the only one of the Big 6 automakers to post an overall sales increase, an increase that helped it garner record high market share. So how did Nissan do that when the U.S. in such a slump that even industry darling Honda, previously bucking the trend, went down with the market as well? Simply put, Nissan's sales increase and higher market share were bought and paid for, according to Edmunds.com's analysis of incentive spending for July. For more information on Nissan’s incentive spending, visit http://www.autoobserver.com/2008/08/nissan-paid-for-july-sales-share-bump-edmundscom-analysis-shows.html
Cadillac Busts A Fuel-Saving Move, Will Go Four-Cylinder- Signaling fuel-economy concerns are making an impact in the luxury market, General Motors Cadillac division let it be known last week - in the midst of the snobby Pebble Beach Concours d' Elegance, no less - that Cadillac will be using four-cylinder power for its upcoming new entry-level model. The use of four-cylinder engines is something of a line in the sand in the luxury market, an option consumers in the past have embraced with mixed results. For more information on this story and Cadillac’s plans, visit http://www.autoobserver.com/2008/08/cadillac-busts-a-fuel-saving-move-will-go-four-cylinder.html
Record Number of Models Surpass $10,000 in Incentives, Edmunds.com Analysis Shows- As industry vehicles sales have sagged, automakers' incentive spending has edged higher in their effort to move the metal. A record 10 vehicles in July recorded a Total Cost of Incentive (TCI) of more than $10,000. Two were BMW models; the rest were General Motors vehicles wearing Cadillac, Saab or Hummer nameplates. For more information on this story and to see a complete list, visit http://www.autoobserver.com/2008/08/record-number-of-models-surpass-10000-in-incentives-edmundscom-analysis-shows.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
Moscow Auto Show Raises Its Curtain Against Tense Backdrop- Russia has captured the attention of global automakers, who have been making a mad dash to import their vehicles into the country, forge partnerships with local auto companies and establish manufacturing bases to feed the vehicle-hungry consumers who are generating wealth from the world commodity boom. Against a tense political backdrop, the Moscow motor show opens, holding its press day Aug. 26. Like China's shows of late, the Moscow show is gaining increased importance on the world stage with automakers holding significant reveals there. For more information on this story and the upcoming Moscow Auto Show, visit http://www.autoobserver.com/2008/08/moscow-auto-show-raises-its-curtain-against-tense-backdrop.html
Argentum Motors: Little-known Indian-French Company Could Upstage Toyota Prius, Chevy Volt - Argentum Motors has been operating in near total silence as it plots its course in the Indian automotive market, and finalizes plans to manufacture electric vehicles. During an exclusive interview with AutoObserver, B V R Subbu, founder and board member of Argentum Motors, and former president of Hyundai Motors India, said that the company's electric car could be on sale in Europe and North America as early as next year and could debut at the upcoming Paris auto show. For more information on this story and the Argentum electric vehicle, visit http://www.autoobserver.com/2008/08/argentum-motors-little-known-indian-french-company-could-upstage-toyota-prius-chevy-volt.html
GM: Employee Pricing for All on '08 Models, Some '09s- General Motors announced Tuesday it is offering employee pricing on nearly all 2008 models and some 2009 models in stock from Aug. 20 through Sept. 2. GM is billing it as its 100th Anniversary Sales Event; the automaker celebrates its centennial officially on Sept. 16. But the fact of the matter is, GM needs to boost sales, which were down 18 percent for the first half of this year. For more information on this story and GM Incentives, visit http://www.autoobserver.com/2008/08/gm-employee-pricing-for-all-on-08-models-some-09s.html
Comfort Cravers, Price Purchasers Emerge in Downsizing Divide- As they rapidly switch to smaller vehicles, American consumers are streaming into two camps: those who want to hold onto their automotive accoutrements -- and those who are just looking for a cheaper ride. "There are two trends out there," said Mark Perry, director of product planning for Nissan North America. "Some consumers are giving up some size but want to hang onto amenities they got used to. Others are just looking for very basic, maybe no-frills transportation that is fuel-efficient. These are competing consumer behaviors, and I'm not sure which will outweigh the other." For more information on this story, visit http://www.autoobserver.com/2008/08/comfort-cravers-price-purchasers-emerge-in-downsizing-divide.html
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
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