January 2007
Detroit's Third Q: Not So Easy as 1-2-3 for Big Three
By (Display Name not set) January 24, 2007The scores are in. Detroit's Big Three has reported third-quarter earnings. If one were to sum up those results into a movie title, it might be something called The Somewhat Good, the Bad and the Really, Really Ugly. more
Detroit show closes; attendance down
By Michelle Krebs January 22, 2007The 2007 North American International Auto Show is now history. The Detroit show closed last night (Jan. 21). Show organizers reported public attendance was down for the fourth consecutive year. Total public attendance came to 705,226 people. The 2006 show drew 759,310 visitors. In 2003, the show broke records with 838,000 people. The dealers who sponsor the show blamed an ice storm along with the state's sagging economy for the lower attendance. —Michelle Krebs more
Detroit: Cheapest gas in U.S.
By Michelle Krebs January 22, 2007Image: David Guralnick / The Detroit News The nation's lowest gas prices can be found in Detroit, which is typically in the middle of the pack. In Detroit, the average price of regular unleaded gasoline was $1.897; it was $1.95 statewide Sunday, according to AAA Michigan, as reported in the Detroit News.AAA Michigan reports statewide regular gas is $1.90 a gallon, midgrade $2.01, premium $2.09 and diesel $2.46.Nationwide, retail gas prices for regular unleaded dropped nearly 14 cents over the past two weeks to $2.18 a gallon. An unseasonably warm winter combined with no supply interruptions has left crude more
Ford-Toyota Alliance?
By Michelle Krebs January 22, 2007The Wall Street Journal is reporting today that following a December meeting between Ford CEO Alan Mulally and Toyota Chairman Fujio Cho, the automakers are separately considering the pros and cons of an alliance. Such an alliance likely would be a joint venture or partnership on powertrain technology, such as hybrid or small engines. An equity deal isn't likely. Toyota has generally avoided large-scale acquisitions and alliances with rival automakers, the paper noted. Plus, the 40% ownership by the Ford family is a complication. Ford, meanwhile, has too many financial troubles to buy a significant stake in Toyota. Ford may more
Chevyâs No. 1 as a record label, says Mellencamp
By Michelle Krebs January 15, 2007John Mellencamp performs at the Chevy-sponsored Farm Aid Benefit Concert in Camden, N.J. Singer John Mellencamp defends his controversial decision to license his recent album’s first single, “Our Country,†for a Chevy truck ad campaign in a profile on him in the February issue of Vanity Fair magazine.Mellencamp said he was well aware that commercial radio doesn’t play the music of middle-aged rockers anymore, and he wanted his music heard. Further, he told the magazine, when Chevy handed him the creative freedom that he’s often fought for at his labels, he took it. “Pretty much, Chevrolet has been a more
Tesla Motors opens engineering center in Detroit 'burbs
By Michelle Krebs January 15, 2007Tesla Motors, the Silicon Valley company reviving the electric car, is opening an engineering center in Detroitâs suburbs. Tesla’s chief executive officer Martin Eberhard said at a panel discussion on the environment and cars held in conjunction with the Detroit auto show that the company already has hired a dozen engineers to staff the technical center in Rochester Hills, Mich., not far from Chrysler headquarters. He predicts the staff will grow to about 60 by year-end. They will be mostly chassis, body and suspension engineers more than powertrain engineers. “If you want to hire good automotive engineers, you have more
Who was that under the Toyota Tundra?
By Michelle Krebs January 12, 2007Toyota executives were a bit taken back when Ferdinand Piech, Volkswagen's non-executive chairman and Porsche stakeholder, showed up at Toyota's Detroit auto show exhibit with his entourage of about 20 people, apparently engineers, in tow. The 70ish Piech, an engineer, dropped to the floor and slid deep beneath the Toyota Tundra pick up truck with nothing more than his feet dangling out. Why? Toyota execs witnessing the event said Piech closely examined various attachments, door hinges, tailgate mechanisms and who knows what beneath the truck. The Toyota onlookers theorized maybe Piech was looking for innovative and possibly lower cost more
Ford's Alan Mulally: The Man To Watch in 2007
By (Display Name not set) January 9, 2007Former Boeing executive Alan Mulally has kept a relatively low profile since taking over as president and CEO of Ford Motor Co. last October. But he will be very much in the news during 2007. In a letter to employees in a company publication, Mulally says he's been spending his time so far reviewing the automaker's existing plans, meeting with employees and conducting weekly business plan reviews with senior leadership. The sessions prohibit the use of Blackberries, require reams of substantiating data and â most importantly â force senior management to be accountable. more
Detroit Auto Show: An Infiniti crossover
By Michelle Krebs January 8, 2007Nissan's Infiniti will add a crossover vehicle to its line by year-end. Codenamed LSCO for luxury sport crossover, the rear-drive vehicle uses the G35's front midship chassis. It will debut at the New York auto show in April and go on sale in December. âMichelle Krebs more
Ford swims in red ink
By Michelle Krebs January 25, 2007Ford Motor Co. suffered its worst financial year in its 103-year history in 2006.Announcing earnings for 2006 this morning, Ford reported it lost $12.7 billion for the year. In the last quarter of the year alone, the company lost $5.76 billion. The losses were worse than even pessimistic analysts predicted.And company executives said they see no improvement early this year. They predict U.S. market will continue downward through the third quarter of 2007, because of lower sales to rental car fleets. Plus, Ford has cut North American vehicle production to be more in line with its lower sales and market more