Automakers: Page

Hyundai Motor to invest in Chinese venture

Hyundai Motor to invest in Chinese venture Hyundai Motor Co. Ltd. signed a memorandum of understanding last month with Beijing Automotive Industry Holding Co. to establish a joint venture operation in Beijing. A Hyundai spokesman says the JV will focus on developing a unique Chinese car especially for the local market. While neither Hyundai nor Beijing Auto would comment, the move has a direct link

By Compiled by Senior International Editor Barb McClellan [email protected] • March 1, 2002

Hyundai: Move Over Fahrvergnugen

There's one big psychological barrier standing between Hyundai Motor America and its goal of becoming a U.S. import heavy hitter: Volks-wagen of America Inc. Though the Korean auto maker has not explicitly set its sites on passing import-darling VW during this calendar year, executives are fairly confident it can be done. They readily admit outpacing VWA which sold 355,648 cars in the U.S. for 2001

March 1, 2002

Explore the Trendline➔

Top 5 stories from WardsAuto

Automakers are evaluating their long-term strategies, revisiting their product mix, and approach to both retail and manufacturing approach along the way.

By WardsAuto staff

Rotary Redux

HIROSHIMA, Japan When Mazda Motor Corp. launches the RX-8 sports car in spring 2003, consumers can thank a cross-functional team of powertrain and production engineers for making the car and its hallmark rotary engine an affordable reality. Mazda's previous-generation rotary powered RX-7 was last sold in the U.S. in 1996. It was an acclaimed enthusiasts' sports car, but its price ballooned such that

By Roger Schreffler • March 1, 2002

Bonneville G/XP: Bob likes this one

General Motors Corp.'s Pontiac Div. will produce the Bonneville G/XP show car unveiled at the Chicago Auto Show. The G/XP was developed by Pontiac's design team within the last four months, and plans call for sales of between 5,000 and 15,000 units annually when it goes on sale in early '03. It will be marketed as a limited-production high-performance version of Pontiac's fullsize Bonneville sedan,

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

Tennis anyone?

Tennis star Lindsay Davenport (second from left) takes delivery of a new CLK AMG Cabriolet from Mercedes-Benz of Laguna Niguel (CA). With her (from left) are Sales Rep Keith LaRue, General Manager Pat Bolter and General Sales Manager Steve McCarthy.

March 1, 2002

John Z

John Z. DeLorean never will be ranked with such General Motors Corp. luminaries as founder William C. Durant, financial genius Alfred P. Sloan Jr. or engineering wizard Charles F. Kettering but he's had his moments. It has been nearly 30 years since DeLorean and GM parted company, yet his name still evokes instant recognition as one of the most famous and flamboyant auto executives ever. In an era

By AL Rothenberg • March 1, 2002

Ford, Jag, Volvo develop 6-speed

Ford Motor Co.'s Ford, Jaguar and Volvo engineers are developing a new 6-speed manual transmission to meet the need for a front-wheel-drive transaxle to handle higher horsepower for increased performance in FWD cars, WAW is told. Mazda Motor Corp. also is expected to join the 3-way venture. The transmission, which has received corporate approval, likely will be built in Europe at a Ford or supplier

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

SUPER STAR MEL FARR AND FORD PART WAYS

Mel Farr is trying to keep a positive attitude about the closing of his two Ford dealerships in Waterford and Oak Park, MI, suburbs of Detroit. Farr, once a top megadealer, now plans to pursue a dream of opening a used-car superstore and new-car stores in Detroit, says his spokeswoman Charlene Mitchell. Mitchell confirms that Farr will be making a complete break from Ford, and will soon sell his minority

By Christie Schweinsberg • March 1, 2002

Paramount opens $10 million dealership

Paramount Automotive Group opened a new state-of-the-art facility in Hickory, NC. At a cost of over $10 million, the new facility is over 70,000 square feet and features separate showrooms and service for Porsche, Volkswagen, Volvo, Cadillac and Oldsmobile. Each showroom depicts the individual personality of the carline in its styling and decor and features a separate service and customer waiting

March 1, 2002

Ford Credit is focusing on the basics

Greg Smith, new president and COO of Ford Financial, says the captive finance company takes a different approach to the Back to basics theme being preached at Ford Motor Co. in recent weeks. He explains, For us, we like to say, focus on the basics. That represents a change in strategy for Ford Credit. The finance company for the past seven years had sought to become a worldwide automotive financing

By Cliff Banks • March 1, 2002

Delphi loads up Peugeot 206 concept

Thanks to a technology partnership announced in 1999, Delphi Automotive Systems and French auto maker PSA Peugeot Citroen unveil a Peugeot 206 concept car equipped with seven advanced technologies from Delphi, most of which are ready for production. The 206 Environmental Technologies Demonstrator has Delphi's Energen 5 start-stop system, E-Steer electric power steering, non-thermal plasma exhaust

By Compiled by Senior Editor Tom Murphy [email protected] • March 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

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

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