The Development Bank of Japan is planning a bailout found for Japan’s hard-hit auto parts industry. The parts industry took the brunt of the March 11 earthquake and tsunami, and it is parts shortages that hold up a speedy recovery of Japan’s largest industry sector. According to the Yomiuri Shimbun, the DBJ plans to raise 50 billion yen for the fund. (Read More…)

Supposedly, the Chinese car market is doomed and has crashed into its Limits of Growth. Not so, says Audi. China has turned into Audi’s largest single market, says Automobilwoche [sub], bigger than Germany. By the end of April, Audi had sold 78,487 Audis in Germany. How many were sold in China? (Read More…)

On June 29, Nissan will hold its annual stockholders meeting. Usually, there is a party after the meeting where stockholders and media are being fed a light meal. This time, they better bring a sandwich. (Read More…)

If there ever was an antithesis to the 24 hours of LeMons, then it’s the annual Gumball 3000 rally, 3000 miles across Europe, from London to Istanbul, in the most outrageous and disgracefully expensive cars you can think of.

It started last Thursday, at the Covent Garden in London, with most of the over 100 participants still hung over from the pre-race-party at the Playboy Club. As you read this, the race has arrived in Monte Carlo, leaving untold amounts of speeding tickets in its wake. Speaking of tickets (and tons of pictures and videos) … (Read More…)

This is the Memorial Day weekend, when we commemorate our fallen heroes and raise our cancer risk by burning chopped beef. Listening to the media, it looks and sounds like the fallen heroes of the year are not the ones who gave and give their lives in ceaseless wars, but the auto industry. It didn’t quite die. It was medevaced in a TARP and helped by the PTFOA to get over its PTSD.

Instead of thanking the nation’s heroes (he did so in an afterthought, asking for “single acts of kindness”) VP Biden thanked himself: (Read More…)

Students: In this day & age of “smart shoppers” and below invoice deals, it’s not what you sell – it’s how many you sell! Time is money! Watch the FREE lesson by our Car Selling Techniques Master Educator Emeritus Speed Fellon. It’s a classic, and a classic will never go out of style.

Welcome to TTAC Car Selling Techniques. Used car prices are sky high, and you too can get rich selling a car. Just watch this series of FREE instructional videos, and you too will be a master salesperson – or your money back. And remember: It’s all in the close.

Volkswagen is thinking about moving production of its Tiguan trucklet to North America. Plans for the move are being discussed by Wolfsburg management, the German magazine Wirtschaftswoche reports. (Read More…)

Some hackers must have some serious beef with Japanese companies. It’s getting painful. Sony, still reeling from a massive security breach, now received an invitation to a congressional grilling. Sony is not alone. Honda Canada found personal information from 283,000 Honda and Acura customers stolen. Jerry Chenkin, executive vice-president and chief compliance officer at Honda Canada Inc., confirmed to The Toronto Star “that names, addresses and vehicle identification numbers were taken from the company’s e-commerce websites myHonda and myAcura, with suspicious activity on the site first detected in late February. “ (Read More…)

China supposedly plans to limit the number of cars allocated to central government officials to one vehicle for every 20 people working there. That news comes in a roundabout way. Bloomberg has it from China’s not always reliable 21st Century Business Herald, which in turn cites a State Council statement.

According to Automotive News Europe, this could undermine “sales prospects for the Volkswagen AG Audi brand, which dominates the official fleet.” (Read More…)

Headed for the G8 summit in France, President Obama left Britain today on Air Force One. He left a pile of unpaid traffic tickets behind. London’s Mayor Boris “BoJo” Johnson announced that he will bill the U.S. government 10 pounds for each car in the presidential motorcade, including The Beast that either did or did not get stuck in Ireland. The money is for the London congestion charge, abbreviated to C-charge. “Our roads were not closed during the President’s visit so his motorcade will pay,” the Mayor told London’s Evening Standard. “The Beast will pay the charge, I’m delighted to say.”

While it looks like The Beast will be billed, payment is a completely different matter.

(Read More…)

There is a war of opinions over the direction of the Chinese car market. Bloomberg says that “China’s auto sales may fall 10 percent this year with the end of government stimulus policies and restrictions on car licenses, according to the China Automotive Technology & Research Center.”  Bloomberg’s colleagues at Reuters called Chen Hong, President of China’s largest automaker SAIC as a witness.  He expects the Chinese car market to grow  7.4 percent to end up at  19.7 million units by year’s end. Who’s right? Who’s wrong? (Read More…)

Saab is on the hunt for a new advertising agency to take the creative lead on its estimated $114 million global advertising account. According to the U.K. advertising industry rag Campaign, the pitch “could be delayed following problems with production at the carmaker and reports of issues with paying suppliers.”

For more than 15 years, the Saab account had been handled by Lowe’s Swedish office Lowe Brindfors. US and UK advertising was handled by the old GM standby McCann. It is quite common that an account is put under review after such a long time, especially when new owners come in. However, the cause of the pitch was different this time. Lowe Brindfors took a hike. (Read More…)

Today, Japanese automakers announced domestic and global production numbers for April. April was the first month to take the full brunt of the March 11 tsunami. For the first time, it is possible to get a clear picture of car-nage 2.0, and the carnage is gruesome. Most of Japan’s auto industry had been down for the first half of April, and came only tentatively back in the second half. At home, all major Japanese automakers were hit hard in April. Overseas production was impacted to varying degrees. On a global basis, the Japanese auto industry lost more than 600,000 units in April, or 35.7 percent of its global production in April 2010. Gory details after the jump … (Read More…)

“Based on the information we have, it looks like we will start up production tomorrow,” Saab spokeswoman Gunilla Gustavs told Reuters today. That’s called a double hedge in the propaganda business.

But based on the information TTAC has, it looks like production will indeed take place on Friday. On Friday, an important visitor will come to Trollhättan: Pangda Chief Executive Pang Qinghua, with entourage. Today, Pang is in Stockholm for a chit-chat with Enterprise Minister Maud Olofsson and the Swedish debt office. Their goodwill is needed to admit Pangda as an investor in Saab. And the Minister has a busy schedule … (Read More…)