|
Mobile
version
|
|||||||||||||||||||||||
Optimism at Detroit auto show as industry banks on recovery AFP Share     A new sense of optimism filled the Detroit auto show Monday as the industry looked forward to a recovery from one of its worst years on record. Much of the glitz and glam will be gone from the press preview days as automakers cut back their marketing budgets in the wake of a collapse in sales to levels not seen since 1983. But the overall mood is significantly more upbeat than a year earlier when the very existence of General Motors and Chrysler was in doubt as Congress sparred over providing billions in emergency loans. More
U.S. announces $187 million for fuel efficiency Reuters Share
The Obama administration plans to announce the selection of nine projects totaling $187 million aimed at improving the fuel efficiency of cars and trucks. The funding includes more than $100 million from the $787 billion economic stimulus plan President Barack Obama pushed through Congress last February. An additional 50 percent will come from the private sector, according to the announcement to be made by U.S. Energy Secretary Steven Chu in Columbus, Indiana. More Bernie and Genii prepare to bid for Saab PistonHeads Headlines Share
The potential bid from Bernie Ecclestone and Luxembourg-based investment firm Genii to buy Saab from GM is reportedly in full progress. Swedish financial newspaper Dagens Industri reports that the would-be purchasers have been told that they need to prove to GM they have the cash to invest in Saab in the long-term. More Boeing may axe 787-3 with ANA cancellation Aviation Week Share
Boeing's 787-3 mid-range variant is under a final threat of extinction following the decision by All Nippon Airways (ANA), the derivative's sole customer, to change its order to other variants. Commenting on his blog, Randy Tinseth, VP-marketing for Boeing Commercial Airplanes, said, "Simply put, getting aircraft into their hands for earlier delivery was a better solution for them. As a result there are no longer any 787-3 orders in the backlog. Going forward, we'll continue to assess the market viability of the -3." More
China's steel appetite reshapes industry The Wall Street Journal Share
China's surging demand for steel this year is expected to dominate the landscape of the steel industry as never before. Already the world's largest producer by far, the country is expected to rev up production by nearly 10 percent. But the higher output likely won't exceed demand, pushing prices higher world-wide for steel, its raw materials and even coal. More Whitacre: U.S. 'made a great investment in GM' The Detroit Free Press Share
The U.S. government "made a great investment in GM" and will "make a lot of money" from it, General Motors Chairman and CEO Ed Whitacre said at the Detroit auto show. "The government's investment is well placed and I think they will make a lot of money," Whitacre told reporters on the sidelines of the 2010 North American International Auto Show in Detroit. "It won't be too long," he added. Whitacre has said GM will pay back $6.7 billion in U.S. government loans by the end of June. More Even after cuts, auto execs fear over-capacity IndustryWeek Share
In an effort to resuscitate a hemorrhaging industry, GM and other U.S. automakers have made dramatic cuts to reduce overcapacity. But a new survey of auto executives suggests the industry is still positioned to produce too much inventory, even despite years of cutbacks. More The new Ford Focus: Hoping less is more ABC Good Morning America Share
Alan Mulally, Ford Motor Co.'s CEO, has high hopes for the future and it starts with the debut of the new compact Ford Focus at the North American International Auto Show in Detroit. The Focus, a fuel-efficient car that offers MyFord technology - turning the dashboard into a technology hub with voice activated features - is Ford's latest bet that less can be more. More |
|
||||||||||||||||||||||
|
||||||||||||||||||||||||||||
