2010 Auto Industry News Updated

Welcome to Auto Industry News , as we have the seismic shift in the automotive industry to. Top tip: news summaries from the top Feb.

Thursday 25 February 2010
• The European Investment Bank has launched a £ 340 million loan to Jaguar and Land Rover. It is an eight-year loan for the development of micro-and full-hybrid drive to finance and new lightweight chassis technology (JLR)
• GM’s Hummer after the completion of the transaction to sell to the Chinese – as reported yesterday – fell through. GM refused to spread, why the Hummer sale failed, but said it was breaking up the company with immediate effect (BBC News)
news.bbc.co.uk/1/hi/business/8533827.stm
• President Akio Toyoda, Toyota broke into tears during his hearing of the Congress, a tearful Toyoda conceded that Toyota has to rethink “anything new”, as it would be structured as call for global security recall of approximately 8 million vehicles (Automotive News )
www.autonews.com/article/20100224/OEM/302249930/1147

Wednesday 24 February 2010
• The European automobile industry does not expect a quick recovery this year, warns, Daimler CEO Dieter Zetsche. In my capacity as President of the European trade body, ACEA, he warned that the economy in 2010 saw little improvement since 2009 was so awful (Automotive News Europe)
• Sichuan Tengzhong Heavy Industrial Machinery’s got too much to buy Hummer from GM in trouble, reports the BBC. Apparently, the Chinese government is treating the permission for the withholding tax. An announcement on 28 February because of (BBC News)
• UK car dealership group Pendragon reports stronger growth in uprmarket cars, including Mercedes and Maserati (Automotive News Europe)
• Toyota vows to respond faster to complaints from consumers, as bosses Congress (Automotive News) take
• Toyota President Okio Toyoda introductory remarks before his hearing conference to admit today that Toyota has expanded too fast (BBC News)
• GM is the driving force in advance and has invested 1.4 billion U.S. dollars in more than a dozen U.S. plants and created about 5,500 jobs since the bankruptcy in July 2009, reports local newspaper (Detroit News)

Tuesday, February 23, 2010
• Spyker was a brief press release at 3.39pm GMT today confirmed has completed the acquisition of Saab. Saab Automobile and Spyker cars are now sister companies under the roof of the Amsterdam-listed parent company Spyker Cars NV. Spyker CEO Victor Muller said: “We are delighted – Saab’s future is now secure. From now on we will be concentrating all our efforts on the revitalization Saab and transform them into a sustainable and profitable businesses with the confidence to be bold. We will strengthen the emotional experience between Saab drivers and their cars and we are on the historic strengths of Saab in the areas of independent thinking, concentrating aircraft heritage and environmental performance and racing. Through this acquisition we will add about € 15 per share in shares and 60 € of assets. With a well-financed business plan in place, we look forward to working with the management of Saab to the realization of this plan and bring exciting new products for our customers. Real Saab Saab Saab (Spyker)
• U.S. chief Jim Lentz, Toyota will start today’s Congress hearing on the questions of the politicians about the recall response, global chief Akio Toyoda is due tomorroow (BBC News)
• Toyota’s temporary suspension of production in France and the UK inventory, to remember how the crisis dents cut sales in key markets around the world (Automotive News)
• Cadillac wants in Europe after the dealer Kroymans relaunch plunged into bankruptcy in 2009 (Automotive News Europe)
Read more