Automakers: Page 385
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Courtesy of WardsAuto
Toyota Financial Services Fills New Post, Promotes 5
Danny Ray, Bank One's former senior vice president and chief risk officer, fills a newly created position of the same name at Toyota Finance Services. He'll provide strategic guidance in the areas of commercial and dealer credit and collateral risk, as well as defining the TFS' overall risk governance process. Ray will report directly to TFS President and CEO George Borst. Meanwhile five TFS managers
July 1, 2004 -
Courtesy of WardsAuto
Kia Slowly Shedding Image of a Cheap Brand
The problem isn't that U.S. consumers haven't heard of Kia. Most Americans know it's a South Korean auto maker. But ask them to name all six Kia models. You might as well ask them to recite the Gettysburg address in Korean. Mention the name Amanti, and a lot of Americans might think you're talking about Armanti, an upscale Italian clothier, not an upscale Kia sedan with a sticker that nears $27,000
By Steve Finlay • July 1, 2004 -
Explore the Trendlineâž”
Courtesy of Kia Corporation
TrendlineArtificial Intelligence
Automakers and dealers alike are increasingly seeing the use case for AI within their operations. Explore some use cases in this trendline.
By WardsAuto staff -
Courtesy of WardsAuto
Scion Brand Mulls 4th Car Model
Development of a fourth model for Scion could begin as early as next year, says Brian Bolain, national sales manager for Toyota Motor Corp.'s start-up youth brand. But Toyota won't expand the lineup until after the launch of the second-generation Scion xB, due to appear in 2007. Bolain declares a Scion truck or SUV is not a possibility, but some other type of vehicle such as a station wagon could
July 1, 2004 -
Courtesy of WardsAuto
Ford Credit on Carpet
Ford Motor Credit Co. is issuing $100 restitution checks as part of a settlement affecting as many as 150,000 people in 37 states who allegedly were overcharged for early termination on a Red Carpet lease between 1991 and 1994. Ford's leasing practices were called into question by State of Michigan investigators who found that dealers sometimes were overcharging lessees for lease termination beyond
July 1, 2004 -
Courtesy of WardsAuto
PEOPLE Bloomfield Hills South
It's like Bloomfield Hills south, says Cliff Vaughan over a salad on the porch of the Marina Club in Bonita Springs, one of several small towns now part of the burgeoning greater Naples area. Dressed in khaki shorts and a striped short-sleeve shirt, attire not uncommon in this balmy area, the retired General Motors Corp. vice president and GMC Div. general manager is among scores of GM executives
By David C. Smith • June 1, 2004 -
Courtesy of WardsAuto
Increase Profits by $300
What is your strategy for working a deal at the sales desk in your store? Whatever your answer, I'd suggest you observe deals being worked and audit worksheets to see the real story. Would you like to raise your closing ratio and gross profit by at least $300? Let's take a look at how you can accomplish that through effective deal strategies. First let's look at the typical sales transaction in many
By STEVE EPPERSON • June 1, 2004 -
Courtesy of WardsAuto
DC Dumps 42-Volts
After years of hype, it appears the bloom is off the rose for the development of 42-volt electrical systems and other non-essential technologies in the auto industry. At least that's the proclamation from DaimlerChrysler AG. During the auto maker's annual Innovation Symposium here, Stephan Wolfsried, vice president-electrical/electronics, chassis for Mercedes Car Group development and engineering,
By Kevin Kelly • June 1, 2004 -
Courtesy of WardsAuto
Markups OK if Equal
The good old days will soon be gone and with them, perhaps, dealer participation in financing. We've reported on the attacks on dealer participation for quite some time now. There was the class-action settlement in the racial discrimination suit against General Motors Acceptance Corporation and the contract disclosures that GMAC agreed to implement as part of that settlement. State attorneys general
By THOMAS B. HUDSON • June 1, 2004 -
Courtesy of WardsAuto
Toyota Stores in the News
Much activity has swirled around several Toyota dealerships on the Ward's Dealer 500. One store, Longo Toyota in El Monte, CA, draws attention for a singular achievement in new-vehicle sales. Longo, the top-ranked dealer on the 500 for the past three years, owned by the Penske Group, became the first dealer ever to almost surpass 20,000 new-vehicle sales for the first time in a single year, reaching
By Mac Gordon • June 1, 2004 -
Courtesy of WardsAuto
Ford Credit Is Pulling Back
Ford Credit's pullback from non-Ford and used-vehicle financing and lease originations is continuing this year, says the Ford Motor Co. captive lender's 10K report to the Securities & Exchange Commission. For 2003, Ford Credit issued 2.2 million new vehicle loans, a 20% decline from 2002, and 274,000 new leases compared with 469,000 in 2002, a plunge of 41.9%. Data are for North America. Increased
June 1, 2004 -
Courtesy of WardsAuto
Rewards & Punishments
No dealer ever put his or her name on a store, then set out to run a bad business. So says Ford Motor Co. Group Vice President James O'Connor, a former dealership general manager. That said, some dealers unceasingly struggle, score poorly on satisfaction surveys and miss minimum sales targets. How do manufacturers deal with such under achievers? That was a topic of a lively discussion at the California
By Steve Finlay • June 1, 2004 -
Courtesy of WardsAuto
Pedestrian impact
Airbags on the outside of a car? To most Americans, the idea of changing vehicle designs and adding exterior airbags to protect folks on foot sounds like a joke. It's not. Long-anticipated regulations aimed at limiting deaths and injuries in 25-mph (40-km/h) vehicle-to-pedestrian impacts take effect next year in Europe and are expected in Japan by 2007, if not sooner. The Ford Motor Co. SUV on our
By Drew Winter • June 1, 2004 -
Courtesy of WardsAuto
Our Last Chance
DaimlerChrysler AG has lost control of its major Asian alliance partner, and Mitsubishi Motors Corp. now will have a chance to live its cat-like ninth life thanks to a $4 billion cash infusion from Japanese companies interested in ensuring its revival. MMC's newly installed Chairman Yoichiro Okazaki calls the company's new bailout plan, our last chance at survival as an auto maker. But many analysts
By Barbara McClellan • June 1, 2004 -
Courtesy of WardsAuto
2-Millionth Lexus Customer
Lexus sold its 2 millionth vehicle, an RX 330 SUV, purchased by Steven Sandman at JM Lexus in Margate, FL, the world's highest volume Lexus store. The landmark purchase won Sandman a luxurious four-day, three night vacation to world-famous Pebble Beach Resort in Monterey, CA. JM Lexus sold a record 6,333 new vehicles and 1,137 pre-owned vehicles in 2003. In recognition of the dealership's success,
June 1, 2004 -
Courtesy of WardsAuto
Blimp My Ride
It wasn't the Hindenburg crash, but a man with a shotgun fired at an advertising blimp that flew in a field next to Team Chevrolet-Cadillac-Geo in Salisbury, NC. The blimp was advertising Cloninger Ford-Toyota. Charged with discharging a firearm within city limits: Team Chevrolet owner Thom Dillard. The fine: $10. Estimated damage to the blimp: $10,000. Dillard indicated he'll pay for repairs. His
June 1, 2004 -
Courtesy of WardsAuto
AWD Not in Plans for PT Cruiser
Chrysler Group puts the brakes on rumors it plans to develop an all-wheel-drive version of its Chrysler PT Cruiser. Chrysler says it hasn't seen any indication adding AWD is a top priority for potential PT customers. Chrysler toyed with the idea of AWD in the PT via its PT Big Sky concept, which debuted at the 2002 Specialty Equipment Market Assn. show in Las Vegas in 2002. The auto maker said reaction
June 1, 2004 -
Courtesy of WardsAuto
Chrysler Takes Hollywood Cues
Chrysler Group is taking a cue from Hollywood as it holds a series of festive events at dealerships nationwide for potentially millions of customers to promote a bevy of new Chrysler, Jeep and Dodge vehicles. Three brand-specific national events will give the public a sneak preview of new Chrysler, Jeep and Dodge products, some on display at dealerships even before they become widely available. Dealers
By Ward's Staff • May 1, 2004 -
Courtesy of WardsAuto
Audi Stalled
Audi of America Inc. says it will receive fewer vehicles from parent Audi AG for the '04 model year because of sluggish demand and the battering euro/dollar exchange rate that is stifling profits in the U.S. Plans call for Audi to divert vehicles originally earmarked for the U.S. to other markets where demand is stronger and there is less negative impact from the strong euro. In all, as many as 2,000-3,000
By Kevin Kelly • May 1, 2004 -
Courtesy of WardsAuto
GM Can’t Lose Buick
Has anyone noticed that Buick is pretty much where Oldsmobile was when GM decided to fold it? Back in 1999, Olds sold 352,000 cars and trucks. Last year Buick sold 337,000. In 2000 the announcement came in late 2000 Olds sold 289,000. This year Buick is tracking around 290,000. To paraphrase Oscar Wilde's The Importance of Being Earnest: To lose one division, Mr. Wagoner, is a misfortune. To lose
By Jerry Flint • May 1, 2004 -
Courtesy of WardsAuto
STS Aims at Benz and BMW
Unveiling the '05 Cadillac STS at the New York International Auto Show, Cadillac General Manager Mark LaNeve says he expects to sell 30,000 of the new rear-drive flagship sedans annually. He notes it's the first new rear-drive car for Cadillac in 25 years. LaNeve expresses confidence that Cadillac will compete with the German luxury brands more forcefully with the STS, while declining to predict how
By Herb Shuldiner • May 1, 2004 -
Courtesy of WardsAuto
No-No to MX-Micro Sport
Mazda Motor Corp. will not put the MX-Micro Sport concept into production for the North American market this year because the business case is not there, officials say. The B-segment hatchback was shown at January's North American International Auto Show in Detroit. At that time, the auto maker said it would go into production by year end, but officials would not confirm where the cars would be sold.
May 1, 2004 -
Courtesy of WardsAuto
Risky Business
In the fall of 2002, the sun was setting fast on New Castle, IN. One of its largest employers, DaimlerChrysler Corp., was preparing to pull the plug on its 1,200-employee Machining and Forge plant, which made suspension and powertrain components for Chrysler, Jeep and Dodge vehicles. In this small town of 17,000 east of Indianapolis, nothing is bigger than the Machining and Forge plant, although the
By Tom Murphy • May 1, 2004 -
Courtesy of WardsAuto
Hyundai, Kia Tech Center Under Way
Hyundai Motor Co. Ltd. and sister-company Kia Motors Corp. break ground on their future technical center near Ann Arbor, MI. Construction began in April. When Hyundai America Technical Center Inc. opens in 2005, it will take the place of a small facility that since 1986 has concentrated solely on U.S. emissions work. Thecenter represents a $117 million investment over two phases, $56 million of which
May 1, 2004 -
Courtesy of WardsAuto
Aiming Straight at Gays
Can auto makers afford to ignore a $485 billion market with 15 million consumers who buy new products earlier than most, have more discretionary income than average folks and are very brand loyal? Can anyone? No, of course not. That's why major companies, United Airlines, American Express and Proctor and Gamble in fact, most of the Fortune 500 aggressively are marketing to the GLBT (gay, lesbian,
By Drew Winter • May 1, 2004 -
Courtesy of WardsAuto
International Auto Diplomacy
Perhaps Don Esmond should have chosen diplomatic service. The senior vice president and general manager of Toyota Motor Sales U.S.A. Inc. downplays discussion about the significance of recent headlines touting the success of the Japanese auto maker and the foundering of its U.S. counterparts. We focus on our own numbers, not the others, says Esmond, a former Ford executive. We simply expect our sales
By Jim Mateja • May 1, 2004
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