http://www.autosinsight.com Automotives Insight RSS Feed from Business Monitor International en Copyright 2008, Business Monitor International Ltd Sun, 20 Jul 2008 06:30 GMT Sun, 20 Jul 2008 06:30 GMT AFP RSS Generator An outstanding example of increased globalisation can be seen in US automaker General Motors' (GM) recently announced plans to export Chinese-made mini-commercial vehicles to Peru. As part of GM's commercial vehicle joint venture with Chinese Shanghai Corporation (SAIC) and Wuling Automobile Co., GM (China) Investment Co. has begun to export its Chevrolet N200 minivans to Peru, the company has http://www.autosinsight.com/file/67212/GM-Brings-Chinese-made-Minivans-To-Peru.html Fri, 18 Jul 2008 00:00 GMT Japanese carmaker Mitsubishi Motors has entered into negotiations for a new labour contract with the United Auto Workers (UAW) union, three years after talks were originally intended to go ahead. Financial difficulties in 2005 forced the UAW to grant an extension on the terms of the existing contract for workers at the Normal, Illinois plant until March 2008. When the situation remained largely unimproved by 2006, the UAW agreed to another six-month extension, which moved the deadline to August 28 2008. http://www.autosinsight.com/file/67211/Mitsubishi-Attempts-Labour-Deal-After-Three-Year-Break.html Fri, 18 Jul 2008 00:00 GMT The Philippines' Board of Investment (BoI) has been approached by senators to carry out an investigation into the level of vehicle imports into the country under the Motor Vehicle Development Program (MVDP). Chairman of the Senate Finance Committee, Senator Juan Ponce-Enrile, has requested a list of all cars imported by MVDP participants over the last two years, as well as a separate list from the Bureau of Customs (BoC) to match against it. The customs' list is to include addresses of importers, enabling any discrepancies to be traced back to the http://www.autosinsight.com/file/67210/Philippines-Senate-Probes-Vehicle-Import-Scheme.html Fri, 18 Jul 2008 00:00 GMT With a reputation for the safety of its vehicles, Swedish carmaker Volvo's latest expansion in Yemen appears to answer any concerns about the quality of vehicles on the country's roads. According to Yemen's Deputy Minister of Industry and Trade, Ali Ahmad Al-Sayyaghi, many of the cars imported to the country fall short of accepted quality and safety standards. Presiding over the opening of the World Volvo Cars showroom in Sana'a, Al-Sayyaghi spoke of the importance of increasing competitive advantage through offering quality http://www.autosinsight.com/file/67153/Volvo-Addresses-Yemens-Safety-Concerns.html Thu, 17 Jul 2008 00:00 GMT Continental Tire North America, a US-based subsidiary of German automotive supplier Continental AG, has announced investment of around US$60mn over the next three years for its production plant in Mount Vernon, Illinois. Divided between the Passenger & Light Truck (PLT) and Commercial Vehicle Tire (CVT) divisions, the injection is aimed at increasing the flexibility of the plant's manufacturing processes in order to adapt production to fit with changing demand, as well as raising capacity. http://www.autosinsight.com/file/67154/Continental-Boosts-North-American-Business.html Thu, 17 Jul 2008 00:00 GMT German auto parts supplier Continental has rejected smaller company rival Schaeffler's takeover bid, worth some EUR11.2bn (US$17.9bn), stating that the offer was undervalued. Continental's rejection comes after the company's shares rose to almost EUR73.70 (EUR117.92) by midday yesterday following news of Schaeffler's interest in the takeover. The privately owned Schaeffler had offered EUR69.37 (US$110.58) a share for http://www.autosinsight.com/file/67151/Continental-Calls-Schaefflers-Bid-Undervalued-Rejects-It.html Thu, 17 Jul 2008 00:00 GMT German auto parts supplier ElringKlinger is looking to acquire companies with a turnover of between EUR30mn and EUR200mn, in order to achieve its target of generating profits of over EUR55mn in 2008. The supplier is primarily aiming to grow by 5-7% annually through expansion into future-oriented segments such as light-weight plastics and lithium-ion batteries. http://www.autosinsight.com/file/67152/ElringKlinger-Looks-At-Acquisitions.html Thu, 17 Jul 2008 00:00 GMT German carmaker Volkswagen is set to recommence production in North America, after choosing Chattanooga, Tennessee as the location for its new US$1bn factory. The company spent a year considering 25 possible sites before the final decision where to base the plant was made, which is due to become operational in 2011. VW expects the new facility to create 2,000 direct jobs and a further 2,000 with related suppliers. http://www.autosinsight.com/file/67107/VW-Plans-Return-To-US-Production.html Wed, 16 Jul 2008 00:00 GMT South Korean carmaker Hyundai has been forced to raise the prices of both its domestic and export models, in an attempt to recoup rising raw material costs. The company has revealed that it will increase the price of its domestic models by an average of 1.9%, and its export models will be an average of 2.0% more expensive. All hikes will take effect from August 2008. http://www.autosinsight.com/file/67106/Hyundai-Faces-Price-And-Strike-Woes.html Wed, 16 Jul 2008 00:00 GMT After becoming one of the world's fastest growing automotive markets, India has started to show the first signs of slowing down in the early months of FY2008/09. Although sales for April to June were on a par with the same period of the previous financial year, with growth of 12.4% year-on-year (y-o-y) compared with 12.7% in the first quarter of FY2007/08, sales growth of 6.1% y-o-y for the month of June itself was the lowest growth for the new financial year so far. However, BMI suggests in its recently published India Automotives Report, that the trend is not a negative http://www.autosinsight.com/file/67051/Indian-Autos-Market-Starts-To-Cool-Off.html Tue, 15 Jul 2008 00:00 GMT Japan's Mazda is keen to continue its expansion efforts into Indonesia, after taking responsibility for its own brand sales in 2006. PT Mazda Motor Indonesia was established in August 2006 to take over from the previous representative and extensive restructuring has taken place, which, according to sales and marketing director Yoshiya Horigome, is ongoing. Speaking at the Indonesia International Motor Show, Horigome said that the growth of the business would focus on expanding the company's distribution network. This will include raising the number of dealers from the current 10 to a total of 15 by the end of the year. http://www.autosinsight.com/file/67052/Mazda-Reveals-Indonesian-Expansion-Plans.html Tue, 15 Jul 2008 00:00 GMT As Indonesia takes its turn at the helm of the ASEAN automotive co-operative, the country's new vehicle market is showing the potential to return to record levels. Sales for H108 were up by 48% year-on-year (y-o-y) in 2008 at 292,589 units, while sales for June alone were the highest ever monthly sales for the industry at 54,631 units. The strong performance comes despite a 30% increase in fuel prices in May and a further hike in interest rates, as Bank Indonesia attempts to reduce inflationary pressures. http://www.autosinsight.com/file/67050/Hopes-Of-A-Record-As-Indonesia-Takes-Charge-Of-ASEAN-Autos.html Mon, 14 Jul 2008 00:00 GMT Strong engineering has so far won German carmakers a good reputation for making high-end cars. However, carmakers feel they are lagging in terms of their contribution to environmentally friendly vehicles, and are now planning to launch electric cars amid rising oil prices and tightening environment http://www.autosinsight.com/file/67047/German-Carmakers-Left-Behind-In-Green-Race.html Tue, 15 Jul 2008 00:00 GMT German carmaker Volkswagen has recorded sales growth of 42% year-on-year (y-o-y) in the Middle East during H108. New vehicle sales of nearly 6,000 units for the first half of the year are the best seen since Volkswagen Middle East was established in 2005, and the company looks to be on track to maintain this level of growth for the rest of the year. Managing Director Hans-Dieter Keller expects the company's product range to play a large part in increasing sales growth this year, adding that the new Tiguan SUV is already generating the kind of demand that makes the model http://www.autosinsight.com/file/67048/Volkswagen-Middle-East-Achieves-First-Half-Record.html Mon, 14 Jul 2008 00:00 GMT Strong growth in sales of SUVs, particularly in the markets of the Gulf Co-operation Council (GCC), has helped Ford to register record sales in the Middle East in H108. Covering the Ford, Lincoln and Mercury brands, Ford Middle East posted growth of 21% year-on-year (y-o-y) for the six-month period, buoyed by growth of around 50% for its SUVs. This is a trend which Ford Middle East sales and marketing director, Hussein Murad, expects to continue throughout the year based on the company's planned new launches. http://www.autosinsight.com/file/67049/Ford-Middle-East-Posts-First-Half-Record.html Tue, 15 Jul 2008 00:00 GMT