Restyling News
Analysis: 2010 auto consolidation good, but recovery dependent on jobs
Thu, 07/29/2010 - 09:43 | by afarb
An examination of the performance of the U.S. auto industry thus far for 2010 has determined that it this year’s sales will be in the plus-11-million range, according to an analysis from Edmund
s.com, Santa Monica, Calif. -Read more-
Phone app to start cars? It’s on its way
Tue, 07/27/2010 - 12:18 | by afarb
Consumers soon will be able to control vehicle functions from their smartphones, thanks to an expansion of OnStar's mobile app technology.
In addition to unlocking the doors and sounding a vehicle's horn and lights, OnStar subscribers will be able to see their current fuel tank level and range, remaining oil life, current and recommended tire pressure and lifetime average mpg. -Read more-
GM back in the financing business
Thu, 07/22/2010 - 12:04 | by afarb
General Motors entered into a definitive agreement on July 22 to acquire AmeriCredit, an independent auto finance company, in an all-cash transaction valued at approximately $3.5 billion. GM said it acquired the firm to meet customer demand for leasing and non-prime financing for GM vehicles.
This acquisition puts GM back in the financing business and allows those borrowers with poor or faulty credit ratings to seek out loans. Some analysts say this will help GM compete better with Ford and Toyota. -Read more-
Survey cites economy as reason why more will buy used over new
Wed, 07/21/2010 - 12:54 | by afarb
2008 Honda OdysseyKelley Blue Book, Irvine, Calif., released in July its Market Intelligence survey of car shoppers that indicates most plan to spend a relatively small amount of money on their next vehicle purchase and are more likely to buy used versus new. Fisker signs deal for former GM plant that will build hybrids
Wed, 07/21/2010 - 10:54 | by afarb
Fisker Automotive, Irvine, Calif., finalized on July 19 its purchase of a onetime GM factory in Delaware where it will build plug-in hybrid electric vehicles.
The Southern California-based environmentally driven automotive company took full possession of the 3.2 million-sq.-ft. Wilmington Assembly plant in Wilmington, Del., for which it paid Motors Liquidation Co. $20 million. Motors Liquidation is the holding company formed by General Motors Corp.’s bankruptcy. -Read more-
U.S. vehicle sales up 17% in first half 2010
Wed, 07/21/2010 - 09:22 | by afarb
Having suffered a significant decline in the automotive segment in 2009 which was near catastrophic for its domestic OEMs, the prospects for the North American car market are looking significantly healthier in the first half of 2010, according to the latest figures supplied by JATO Dynamics, a provider of automotive intelligence. -Read more-
Tesla, Toyota ink deal to develop EV version of RAV4
Mon, 07/19/2010 - 15:16 | by afarb
Tesla Motors Inc. and Toyota Motor Corp. signed an agreement in mid-July to initiate the development of an electric version of the RAV4.
Diesel fuel prices fall again
Fri, 07/16/2010 - 12:54 | by afarb
The national average retail price of a gallon of diesel dropped for a third straight week in mid July, noted eTrucker and reported by the U.S. Energy Information Administration. The national price declined 2.1 cents to $2.903 in the latest week.
Diesel prices have declined eight weeks out of the past nine. The price is 36 cents higher than a year ago.
All regions declined in price led by a 3.3-cent drop to $3.022 in the Central Atlantic. Michigan Li-ion factory breaks ground
Fri, 07/16/2010 - 09:41 | by afarb
President Obama helped break ground on a new lithium-ion battery cell plant in Holland, Mich. The plant will manufacture cells for electric vehicles like the Chevrolet Volt.
In August 2009, the White House set aside $2.4 billion in stimulus spending aimed at encouraging development of new battery and electric-vehicle technology. The Michigan plant is the ninth of nine new factories to start construction and is a direct result of grants from that fund. -Read more-
Aftermarket association says Senate must pass small-business lending bill
Thu, 07/15/2010 - 14:56 | by afarb
U.S. SenateIn a letter to the U.S., Senate, the Specialty Equipment Market Association reported that it has asked the U.S. Senate to pass H.R. 5297, the “Small-Business Jobs and Credit Act,” designed to create a $30 billion base to provide banks with less than $10 billion in assets to access capital to lend to small businesses.
The House passed the bill in June.
