Toyota, Honda chase young buyers

Toyota Motor Corp. will finalize plans and launch a third brand to appeal to the youth market in the U.S. within six months. The youth brand will carry its own separate name such as Lexus does for the luxury market and likely will launch with multiple entries. Though a name has not been chosen, it won't be Genesis, which Toyota used internally for its previous youth marketing and design efforts. Meanwhile,

By Compiled by the staff of: WARD'S AUTOMOTIVE REPORTS • Feb. 1, 2002

Toyota Financial opens first of three new service centers

Toyota Financial Services' beginnings date to 1983 with a loan for a used Corolla. The company then began opening full-service branches to handle dealer and customer financial services. A local office would get so big, and a new branch would open. Over time, there were 34 branches around the country. But three years ago, the firm began looking at its setup, says George E. Borst, CEO and president

By Steven Finlay • Feb. 1, 2002

Explore the Trendline➔

Artificial 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

King of CAD

Much of the auto industry is contracting and downsizing, but not EDS. The information technology company founded by Ross Perot and later partly owned by General Motors Corp. has been quietly executing a growth strategy that promises to drastically alter the way North American auto makers and suppliers access and trade product data. The strategy began in September 2000 when EDS acquired EAI Inc., a

By Tom Murphy • Feb. 1, 2002

Visteon Battles Ford

Suppliers routinely grouse about pricing from their OEM customers, but to do it in public is rare. When hundreds of millions of dollars are at stake, the dispute becomes too serious to contain. Visteon Corp. questions the productivity price adjustments requested for 2001, 2002 and 2003 by its largest customer and former parent Ford Motor Co. It's way too much, Visteon says, exceeding the supplier's

Feb. 1, 2002

Few honor students, but manufacturers’ marks improve over last year

To view grades, click here. Automakers finally seem to be making some progress in their relationships with dealers, according to results of Ward's Dealer Business' second annual Industry Report Card. The Report Card surveyed dealers in December, asking them to assign a letter grade (A - F) to their manufacturer on 11 categories. Dealers gave the manufacturers an overall B this year up a grade from

By Cliff Banks • Feb. 1, 2002

GM market share up; Ford vows to break even

General Motors Corp. reports earnings of $1.5 billion on revenues of $177.3 billion in 2001 a year rife with unprecedented retail challenges. GM's results are down from earnings of $5 billion and revenues of $183.3 billion in 2000. The No.1 auto maker earned $255 million in the fourth quarter, compared with $609 million in like-2000. Halting eroding North American market share up to 27.6% from 27.5%

By Compiled by the staff of: WARD'S AUTOMOTIVE REPORTS • Feb. 1, 2002

GM Drops Its Stake in New Venture Gear

New Venture Gear, the powertrain joint venture formed in 1990 between DaimlerChrysler Corp. and General Motors Corp., is being dissolved. DCC, which had a 64% stake in the venture, will assume complete ownership of NVG. The operation will remain a separate company and continue to independently manage its business with GM and other customers. GM relinquishes its stake in NVG but will manage its plant

Feb. 1, 2002

Can the Chrysler Group just get a break?

Last year, Chrysler reorganized its field organization into five regional business centers. The idea was to allow the company's field staff to make decisions on vehicle content, incentives and marketing in each region. The shakeup was intended to make the company leaner and allow it to directly service dealers in their local market. But has or will the reorganization help Chrysler boost sales? Although

By Frank S. Washington • Feb. 1, 2002

Texas-style dealership opening

The cowboy hats were on for the grand opening of the Beck Automotive Group's Park Cities VW in Dallas. From left are operating partner Leo Griggs, VW of America VP Frank Maguire, Mayor Ron Kirk, VW of America President Gerd Klauss and managing partner Robert Beck.

Feb. 1, 2002

Tall Wagons

Call them tall wagons, cross-utility vehicles, segment busters, sports tourers, sport wagons, crossovers, cross-trainers, or just plain station wagons. Whatever they''re named, they were the most obvious new design trend at the North American International Auto Show in Detroit last month. Although today''s “crossover” vehicles like the Toyota Highlander, BMW X5 or Buick Rendezvous straddle the line

By DREW WINTER with Brian Corbett and Eric Mayne • Feb. 1, 2002

Toyota spending $700M with minority businesses

Minority-owned suppliers will get at least $600 million worth of business from Toyota Motor Corp. this year. Toyota also will buy at least $100 million worth of services from other minority-owned businesses. Toshiaki Taguchi, president of Toyota North America Inc., revealed the investment figures at a press conference in New York, where he announced the formation of a North American diversity advisory

By Compiled by Senior Editor Tom Murphy [email protected] • Feb. 1, 2002

Better Handling, Refined Package for ‘03 Expedition

DETROIT Ford Motor Co. hopes silence is indeed golden, having pulled out all the stops to reduce NVH in its refreshed '03 Expedition. Along with more packaging refinement and a couple of genuine surprise-and-delight features the all-new Expedition thankfully tilts towards a higher dynamic standard with fully independent rear suspension and rack-and-pinion steering. It remains, however, a body-on-frame

By BILL VISNIC and ERIC MAYNE • Feb. 1, 2002

Nissan Turns a 180

Just as Ford Motor Co. dives into massive restructuring, Nissan Motor Co. Ltd. CEO Carlos Ghosn tells an automotive conference in Dearborn, MI, that the second phase is under way for Japan's once-ailing No. 3 auto maker. With a year remaining in the Nissan Revival Plan, Ghosn refers to the sequel as Nissan 180, which sets future growth targets from which the 180 figure is derived: 1 million more units

Feb. 1, 2002

FORD PLANS NEW CROSSOVER UTILITY VEHICLE

Ford Motor Co. will further penetrate the cross/utility vehicle (CUV) segment in 2004, Ward's has learned. Sources say the vehicle resembling a fusion of beefy wagon and streamlined SUV will roll off the line at Ford's Chicago Assembly Plant. Chris Theodore, Ford's vice president-North American product, confirms the No.2 auto maker has a CUV in its pipeline, having previously stated are under development.

Feb. 1, 2002

BLUE OVAL BLUES

We previously asked dealers if they were satisfied with Ford's controversial Blue Oval dealer certification program. Of the respondents, 42 said no, 3 yes. Here's what they had to say: What choice do we have? No! Ford execs have made it plain that they don't want to hear any negatives about Blue Oval; that they're committed to it without regard to dealer opinions. They tell us to shut up and be happy.

Feb. 1, 2002

F-350 Tonka: Hydraulic Regenerative Braking

DETROIT What appears to be a practical, low-tech method to recover braking energy in 8,000-lb. to 11,000-lb. (3,600-kg to 5,000-kg) GVW vehicles in urban stop/start application was introduced by Ford Motor Co. at the recent Detroit International Auto Show here. The system, jointly developed with Eaton Corp., captures braking energy through a hydraulic pump-motor unit, where it is stored in dual accumulators

By Bob Brooks • Feb. 1, 2002

Dealers like new Ford Credit chief

Dealers give high marks to Greg Smith, who replaces Don Winkler as the head of Ford Credit. It's great news, says Texas dealer Jerry Reynolds, former chairman of the Ford National Dealer Council. Greg is one of the sharpest and brightest guys I've ever met. Reynolds adds, Don Winkler is a real motivator. But he didn't know the nuts and bolts whereas Greg grew up in the business, rising through the

Feb. 1, 2002

Ford slashes 22,000 jobs, four model lines

Ford slashes 22,000 jobs, four model lines Detroit -- Ford Motor Company will slash jobs, close plants and end model lines as part of its long-anticipated restructuring plan to revive profitability. The plan, finally announced Friday, involves cutting 22,000 jobs by 2005 and ceasing production in 2002 of what Ford President Nick Scheele called four low-margin vehicles – the Ford Escort, Lincoln Continental,

By Cliff Banks • Jan. 11, 2002

Getting It Right

No need to have your eyes checked, and the writer of this story isn't heavily medicated. What you're about to read is actually happening. General Motors Corp. is becoming a leader in manufacturing efficiency and technologies. That was unthinkable only a few years ago. But the auto maker is pulling off a quantum leap for the ages. Just check out the Harbour Report released last June. GM has cut its

By Brian Corbett • Jan. 1, 2002

BMW, GM Change Leadership

A new year often brings with it plenty of new faces in top management at auto makers, and 2002 is proving to be no different. At BMW AG, Joachim Milberg will step down in May as chairman of the parent company's board of management, a year earlier than anticipated. Milberg took over in February 1999 after then-chairman Bernd Pischetsrieder was pushed out in a boardroom coup for failing to revive Britain's

Jan. 1, 2002

Dealership body shops face a new competitor: Allstate

It's easy to hear anger in the body shop manager's voice as he talks about the new competitor his Ford dealership in Houston has for collision repair work: a shop down the street. I've had several customers insured by Allstate told they have to take their car there, the shop manager, who asked that neither he nor his dealership be named, says of the competition, one of 39 Sterling Collision Centers

By John Yoswick • Jan. 1, 2002

All-New A4, A6, Too

CHANTILLY, VA An onslaught of new product is making its way into Audi AG's stable in 2002 as the division continues on its path to sell more than 1 million cars annually within the next five years. Although the biggest buzz surrounds the new 2002 A4, there's also a new S6 Avant and a revised A6. The A4 is new from the ground up, taking most of its styling cues from the highly successful A6 sedan,

By Kevin Kelly • Jan. 1, 2002

THUNDERBIRD IN THE PINK ALMOST

When Ford Thunderbird's color palette is changed for '03, one of the new hues will likely recall romantic Oceanfront sunsets, the automaker hints. Asked if pink so popular when the first T'Birds were built will be among the new fashion colors expected when two '02 tones are dropped, Mary Ellen Heyde, Ford's vehicle line director-lifestyle vehicles, says: Actually, it was called coral. Sunset coral

Jan. 1, 2002

CADILLAC EXT BEATS LINCOLN BLACKWOOD TO MARKET

Cadillac was accused of being a copycat when it unveiled its Escalade EXT luxury sport/utility pickup several months after Ford Motor Co.'s Blackwood debuted, but the roles are reversed regarding first to market. Cadillac began shipping Escalade EXT Nov. 7 and sold 16 units as of Nov 28. Meanwhile, Blackwood, which was supposed to be out earlier this year, currently is being shipped to dealerships,

Jan. 1, 2002

Hyundai hobbled by demands for job guarantees

Hyundai Motor Co. Ltd. may be enjoying record export sales in the U.S. and Korea and record high profit figures, too, but the company's production operations recently were hamstrung by union walkouts that gave executives the jitters and cost the company millions. While workers recently called off the strike after agreeing with management on wage increases, Hyundai reportedly lost $577 million in sales

By Compiled by the staff of: WARD'S AUTOMOTIVE INTERNATIONAL • Jan. 1, 2002