One year after Ford Motor Co. sold most of its controlling stake in Mazda Motor Corp., top executives from both companies have reaffirmed their commitment to a "long-term partnership" - quashing speculation that the longest alliance in automotive history was breaking apart. According to the Detroit News, in meetings over the past couple of weeks, Ford CEO Alan Mulally, Mazda CEO Takashi Yamanouchi, and other senior managers have discussed how they can continue to collaborate within the framework of their new ownership structure. While their partnership will be less about shared vehicle platforms and more about joint development of automotive systems and technologies, executives from Ford and Mazda said it remains vital to their success. Mazda provides Ford with a window into the Japanese auto business that Ford is keen to keep open. And the relationship also allows Ford to achieve even greater economies of scale. For example, by selling motors to Mazda, it is able to lower its own unit cost for those engines. And the two companies continue to operate four major joint ventures - in China, Thailand, South Africa, and Flat Rock - that are beneficial to Ford's global outlook. Click here for more on Ford and Mazda's continuing partnership.
Mark Phelan at the Detroit Free Press writes that in a year when small cars should flourish, Toyota's Scion brand is struggling. Through October, Scion's U.S. sales have fallen a resounding 50.6 percent versus 2008 - far more than Toyota's corporate decline of 23.2 percent. Click here for a chart on Scion's sales. Scion plans to expand its lineup and replace its mainstay tC coupe. Scion debuted with hoopla in 2003. Developed by a team of young Toyota executives, Scion promised to sell a new kind of car in a new way. The median age of Scion buyers - 47 - is second lowest among all brands, said Alexander Edwards, president of Strategic Vision, a San Diego research firm. However, it has trended steadily older since being an industry-leading 41 in 2006. The median age of all new-vehicle buyers in 2009 was 54.The brand was initially conceived to have a two- or three-vehicle lineup, but it's going to grow. "My goal is to expand," Scion Vice President Jack Hollis. "There's no way to say if it will be four, five or six models. We've got to figure out what's the next type of buyer we want to reach and develop vehicles for them." Scion's goal was never to keep buyers for a lifetime, but to feed them into a lifetime as Toyota and Lexus owners. Scion's next defining moment is to come when it replaces the sporty tC in 2010. Click here for more on Toyota's plans for its Scion brand.
Gasoline prices fell to their lowest level in eight weeks, the Energy Department said Monday, as cheaper crude oil costs pushed pump prices lower. The national price for regular unleaded gasoline dropped to $2.60 per gallon, which was still up 94 cents from a year ago, the department's Energy Information Administration (EIA) said in its weekly survey of service stations. According to USA Today, the latest lower motor fuel price reflects the drop in crude oil prices, which account for about half the cost for making gasoline. The price of U.S. crude oil settled at $69.51 a barrel in Monday trading at the New York Mercantile Exchange, the lowest settlement price since Sept. 29, on market concerns about weak oil demand and strong petroleum inventories. In its weekly price survey, the EIA found the West Coast had the most expensive gasoline at $2.85 a gallon, down 1.3 cents. By city, Los Angeles had the highest price at $2.95, down 1.7 cents. The Gulf Coast states had the lowest regional price at $2.47 a gallon, down 4.4 cents. Houston had the cheapest city pump price at $2.38, down 7 cents. Separately, the average price for diesel fuel fell 2.4 cents to $2.75 a gallon, 33 cents higher than a year ago, the EIA said. Click here for more on falling fuel prices.
At a speech at the National Press Club, Audi of America President Johan de Nysschen reiterated his belief that vehicles such as extended-range plug-in electric cars are not currently financially viable without government support and that existing technologies are better served to help drivers get better gas mileage. "I understand why political leaders have fallen in love with hybrids and electrics. But this may be the one time you'll hear someone in Washington say it shouldn't be a monogamous relationship," de Nysschen said. According to the Detroit News, de Nysschen favors using diesel technology and allowing the marketplace to pick the winners and losers. He urged the government to avoid "prejudging winning and losing technologies" and urged more work to standardize biodiesel rules. Over half of Audi's sales in Europe are diesels. Audi has two diesels in the U.S. market, and the A3 TDI was awarded the "Green Car of the Year" during press days at the Los Angeles Auto Show two weeks ago. Click here to read AIADA's coverage of the award. De Nysschen said Audi was likely to offer a clean diesel alternative "in every one of our product lines," noting that diesels can be big players in reducing emissions and fuel use because they are about 30 percent more efficient than traditional gasoline engines. Click here for more on de Nysschen's green car philosophy.
Not long ago, Henrik Fisker was dashing up Interstate 5 to San Francisco when a highway patrolman clocked his Aston Martin roadster - a car that Fisker himself designed - going 97 mph. According to the Los Angeles Times, over the last two decades, Fisker has designed some of the sexiest cars on the road: sleek BMWs and Aston Martins that accelerate from 0 to 60 in the time it takes to count the fingers on one hand. Now the Danish designer has his own Irvine-based car company and a half-billion-dollar loan from the U.S. government to build gas-electric hybrid cars that plug into a home outlet, go 50 miles without a drop of gas and don't look a bit eco-friendly. Oh, and they'll also be fast. "People feel very emotional about cars, and I don't want them to feel bad about driving a fast car," said Fisker, as he steered his growling roadster through rush-hour traffic on Sunset Boulevard. "We're building beautiful and fast cars that you can drive without having a bad conscience or ruining the environment." Fisker, one of the world's most highly regarded designers of luxury automobiles, likes his chances. And he's a focus group of one. "As a car lover, I ask myself: What am I going to be buying in the future?" he said. Click here for more on Fisker's design philosophy and what that means for future vehicles on the road.
Claims from employees who believe they've been treated improperly in the workplace have resulted in defense costs reaching as much as $100,000 - even when there is no actual liability on the part of the business. To offer a level of financial protection for your dealership from costly court settlements, legal fees, and lost productivity, AIADA's Affinity Partner Federated Insurance offers an employment-related practices liability (ERPL) policy and risk management assistance. The ERPL policy will help cover your dealership against claims not covered by most general liability policies, including refusal to hire, termination, coercion, demotion, harassment, and others. And to help prevent losses before they happen, Federated offers ERPL policyholders AGOSNET®, a web-based program providing resources and services related to employment practices. AGOSNET® offers risk management tools and training for managers and employees, including a call center staffed by risk management professionals to provide strategies for preventing and managing workplace risks. To learn more about ERPL policies, risk management, and other ways that Federated is committed to being 'more than just an insurance company', contact your Federated Insurance Representative. Or click here to have Federated contact you directly. To listen to our recorded webinar on Managing Employment Risks in Unparalleled Times, click here.
Insider Tips on Buying a Used Car [AOL Autos]
Detroit Preview: Toyota Teases new Hybrid Concept Vehicle [Autoblog]
The Cars of Wal Mart, Volume II [Jalopnik]
2010 9ff Speed 9 Porsche 911 First Drive [Edmunds Inside Line]
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