GM will go it alone in Japan. From November on, GM will “switch to direct sales for all its Japanese-market models, some of which are now sold by a Mitsui & Co. unit,” reports The Nikkei [sub]. Mitsui Bussan Automotive began handling GM vehicles in 1992 and focused mainly on large SUVs, such as the Cadillac Escalade, Chevy Avalanche, Traverse, Silverado and HHR. (Read More…)
This is round two of TTAC’s “Grade The Analysts”. Last time, we graded only on how closely analysts hit the SAAR number (table provided by Bloomberg.). If we would have done this this time, all would have received an A or better. The guesses were THAT close. The overall SAAR for August was 12.1 million, and none of the analysts did bet on less than 11.9 or better than 12.3. Instead of giving them all gold stars, we made it a bit more interesting. (Read More…)
If the Shanghai Daily isn’t hallucinating (their writing is pretty sober, if not sobering), and if their source is reliable (the source is Pang Qinghua, chairman of Pang Da, the yellow knight from China that was supposed to save Saab from the abyss,) then Saab’s goose is cooked.
Chairman Pang told the Shanghai Daily that “Pang Da Automobile Trade Co and Zhejiang Youngman Lotus Automobile Co have not submitted an application to the Chinese government to inject much-needed funds in Saab, increasing fears that the Swedish carmaker may drive into bankruptcy due to a cash crunch.”
Why does that mean that the goose is good for eating? Because Saab says so. (Read More…)
Toyota Motorsport GmbH (TMG), Toyota’s Cologne-based high-speed division, has set a new Nordschleife record for an electric vehicle. The TMG EV P001, equipped with two electric motors and 800Nm of torque, did the Nordschleife in 7 mins 47.794 secs, outdistancing the Peugeot EX1 EV’s which did the circuit in 9 mins 1.338 secs. (Read More…)
According to government statistics, “grooming” while driving is a major hazard, only slightly less dangerous than using a cell phone, eating and drinking, and talking to passengers. This video drives the point home that grooming, talking to passengers, and even the slightest hint of eating can be deadly. In this case, the man was lucky and walked. Next time – who knows.
| Analyst | GM | Ford | Chrysler | SAAR |
| Himanshu Patel (JPMorgan) | NA | NA | NA | 12.1 |
| Rod Lache (Deutsche Bank) | NA | NA | NA | 12.2 |
| Chris Ceraso (Credit Suisse) | 20% | 18% | 12% | 12.1 |
| Brian Johnson (Barclays) | 15% | 14% | 15% | 12.1 |
| Peter Nesvold (Jefferies) | 19% | 16% | NA | 12.3 |
| Patrick Archambault (Goldman Sachs) | 11% | 14% | 10% | 12.0 |
| Itay Michaeli (Citigroup) | NA | NA | NA | 11.9 |
| Adam Jonas (Morgan Stanley) | NA | NA | NA | 11.9 |
| George Magliano (IHS Automotive) | NA | NA | NA | 12.2 |
| Jeff Schuster (J.D. Power) | NA | NA | NA | 11.9 |
| Jessica Caldwell (Edmunds.com) | 20% | 14% | 21% | 12.3 |
| Jesse Toprak (TrueCar.com) | 20% | 12% | 22% | 12.2 |
| Alan Baum (Baum & Associates) | NA | NA | NA | 12.2 |
| Seth Weber (RBC) | 15% | 14% | 13% | 12.1 |
| Average | 17% | 15% | 16% | 12.1 |
After a tepid July, analysts predict a likewise unenthused August when it comes to new car sales in the U.S. The consensus of Bloomberg’s panel of 14 analysts is a seasonally adjusted annual rate (SAAR) of 12.1 million. (Read More…)
In Albuquerque, a police officer is caught with his pants not quite down, but nonetheless having sex on the hood of a car. From the pictures released, it looked consensual. This is not what can be said of the conduct of a Philadelphia police officer. According to the Philadelphia Inquirer, Keith Corley II, a 4 year member of the Philadelphia police department, was charged with raping a woman in the back of his squad car while on duty in the 18th District in West Philadelphia. (Read More…)
Sales of regular automobiles in Japan were down 25.5 percent in August, compared to the same month in the previous year, data provided by the Japan Automobile Dealers Association shows. This sounds worse than it is: In August 2010, sales had jumped 46.7 percent, result of a last gasp of government subsidies which were coming to an end. (Read More…)
“When we started working on the FT-86 we had no idea where we would end up,” said Tetsuya Tada, whom I met last Sunday to talk about his work. “Was it going to be a ridiculously expensive car? Or one anyone can buy? All we knew it was going to be a sports car. The […]
Autocorrect-adverse CHAdeMO is a consortium of Japanese companies with the target of establishing a standard for the charging of EVs. According to the fountain of knowledge, “CHAdeMO is an abbreviation of “CHArge de MOve”, equivalent to “charge for moving”, and is a pun for O cha demo ikaga desuka in Japanese, meaning “How about some tea” (while charging) in English.” CHAdeMO was founded at the instigation of TEPCO. The power giant wanted a safe market for its quick-charge connector, it was hitherto known as “the CHAdeMO plug.” TEPCO is Tokyo’s disgraced power company, drop its name, and you will trigger a stream of invectives coming from otherwise composed Japanese. Which is probably what happened in a boardroom. (Read More…)
GM China always had a comfortable lead over Volkswagen in China – at least on paper. More than half of GM China’s volume comes from small delivery vans, made by a three-way joint venture with SAIC and Wuling, in which GM held 34 percent. This share had been recently raised to 44 percent. The joint venture agreement allows GM to claim 100 percent of the small cars as theirs. “Whatever turns them on” (or Chinese word to that effect) say the other JV partners who happily count the cars again in their annual reports. There is one big problem with that. The “breadvan segment” (so called because the cars looks like loafs on wheels) has been shrinking and is ruining GM’s otherwise good Chinese numbers. Now, GM can’t take it anymore, and is using a familiar tactic: “GM is sacrificing profit margins to maintain market share in China, cutting prices of low-cost minivans by as much as 15 percent to offset slowing sales in the world’s largest vehicle market,” Bloomberg reports.
(Read More…)
Porsche chief Matthias Müller found a big gap in his program. A price gap. “It bugs me that the 911 stops at around €250,000, and then things start moving again with the 918 for €750,000,” Müller complains to the Süddeutsche Zeitung today. “Ferrari builds a comfortable and pretty much competition-free nest. We need to get in there.” (Read More…)
Now that the effects of the March 11 tsunami are behind the Japanese auto industry, carmakers are pulling out all stops to make up for lost volume. Only to run into new problems: “Shortages of tires and other autoparts are a growing concern,” reports The Nikkei [sub]. The new shortage is tsunami-unrelated. Its reason: Bad old supply and demand. (Read More…)
“Frankfurt in September, a city full of car crazy people from all over Europe, but no Saab at the IAA. However, few will notice it. “ So far, so true. Saabsunited reports that Saab will NOT have a booth at the Frankfurt Auto Show. Which is a good thing, because the cost saved for a decent display at the IAA can easily cover a good part of the monthly payroll at Saab. Currently, there is no money for the payroll – which has turned into a bit of a tradition at the storied Swedish carmaker. If I’d have the money just for the hyperinflated hotel rooms for a whole crew, I could retire comfortably. It’s THAT expensive. However, Saab has not given up on Frankfurt. Which is a bad thing. (Read More…)
Did we say that golden cars are all the rage in China? Rage? It’s an epidemic! Carnewschina is following the rapidly developing story. Latest gold find: A Lamborghini Gallardo LP-560 2, unearthed in Shijiazhiang, capital of Hebei Province. (Read More…)
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