Good morning! Lots of turkey ahead for you. The rest of the world has already provided its share of turkeys. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Gobble up the news! Maybe not on an empty stomach.

No EU auto bailout. The EU has released details of its stimulus plan. It’s a yawner. $257b, that’s all? Wait, there’s less: Brussels announced the plan, then told its 27 members: “You pay for it.” We predicted it, and Stratfor (sub) agrees: “It seems that no member state will bail out any other member state.” Also as predicted repeatedly by TTAC, not a word on EU auto bailouts. You’re on your own! You’re on your own!

Les Miserable: The same day, France’s Prez Sarkozy said he would announce a “rather massive” plan in the coming days to support French automobile and building industries. His plan will also help dealers and subcontractors. AP has the story. With so many recipients, the pickins will be slim. Sarkozy announced the plan after talking to Germany’s Angela Merkel. Expect some kind of plan from Angela as well. As in: “Europe: Buy German.”

No money under Opel’s Christmas tree. The German government asked Opel to provide hard data on why Opel needs money and how much. Opel returned devoid of data. “We had to send them back home” said a grumpy German government source to Die Welt. No data, no money. German observers smell two rats. Rat #1: Opel doesn’t have the data. Rat #2 : The data are so bad that Opel doesn’t want to show them. What smell you? And there’s more bad news ahead …

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Better go back to bed. It’s safer in there. Lot’s of bad news awaiting you. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off. Are you really ready for this? Then read on.

Porsche: We told you so. Autohaus somehow got ahold of Wendelin Wiedeking’s notes for today’s “Bilanzpressekonferenz.” And as predicted, Wiedeking will say that Porsche will take it easy with VW’s takeover. They won’t even go for 50 percent yet. “Given the current economic circumstances, it is becoming increasingly unlikely that we will reach that target in the current calendar year.” More as it develops. There still is (faint) hope. What does it say on the manuscript? “Es gilt das gesprochene Wort.” (Check against delivery.) Always a good idea in the car business.

Nipponese go-slows: Mazda will suspend operations at Hofu No. 1 and No. 2 plants in Japan’s Yamaguchi Prefecture, western Japan on Dec. 25 and 26. Toyota Motor Corp. has decided to slash production 20 percent at its French factory from January through March, following similar moves in the U.S., Britain and Turkey. Suzuki will increase its production capacity for scooters and motorcycles in India by 47 percent to meet rising demand. Mitsubishi will build forklifts in China. All sources Nikkei (sub).

Limeys go for the green: The U.K. auto industry (what U.K. auto industry?) welcomes the government’s attempts to boost consumer spending by reducing a sales tax, but says it needs urgent help to overcome the cash flow problems created by the credit crunch. The society of Motor Manufacturers and Traders will meet Secretary of State for Business Peter Mandelson Thursday for an intensive begging session, CNN reports. You think that’s bad? Try Spain ….

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Good morning! While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off. This is Odd-Tuesday: All quiet internationally on the GM front. What’s going on? Stop press: We take it back.

Porsche meets the press: Tomorrow, Wednesday, Über-Porsche Wendelin Wiedeking will present Porsche’s annual report to the press (an annual ritual followed by all important German companies, and usually an excess of euphemisms.) Apart from reporting about Porsche (“we’re doing great!”) “information about future plans regarding the take-over of Volkswagen” will be offered, says Automobilwoche (sub.) We’ll keep you posted.

BMW axes 8600 jobs: Sad faces at the Beemer plants. BMW has cut more jobs than planned in their austerity program dubbed “Number One” (probably in reference to the P.O. workers.) 8600 jobs axed. Only one shift running in their Leipzig plant, all “temporary workers” gone. Automobilwoche (sub) has more.

GM goes begging, even in Poland. GM is on a begging tour through Europe. “Informal approaches” are being made to governments in Poland, Belgium, Spain and the UK, Automotive News Europe (sub) has learned. Before, GM approached Germany, for €40b, was called names in Berlin, reduced their request to less, got something in Hessen, then said they don’t mean it. Germany is a state of confusion as far as GM goes. There have been contacts between GM and the UK government, even the government of Sweden, former home of Saab was approached. But begging Poland? A land with a GDP of $552b, less than the $700b tarp? There are places in Poland where they don’t have the money to put lights on the Christmas tree. Bad taste, GM, bad taste. Or just plain old ignorance?

Pocket Roller for pocket change: In 2006, UK’s Manganese Bronze Holdings struck a $100m deal with Chinese Geely to continue producing the renowned London taxi TX4. They did. And now, Geely wants to use the platform for what Gasgoo calls “a small Rolls-Royce.” Positioned at lesser-heeled people who eye the premium BMW / Mercedes-Benz models, the luxury Geely sedan is expected to sell in the neighborhood of $44k when it comes to market by 2011. There is …

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Hey, it’s Monday! Time to get back to work (if only to check that there still is a job.) Get a hustle on, most of the world got up much earlier. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off.

What are they smoking? To convince Congress that they mean action, GM wants to negotiate a cut in debt levels, wants to ask the UAW whether it’s ok to delay a $7 billion payment to a union retiree health fund, GM wants to drop brands, and get more funding from GMAC, Bloomberg reports. All that done before a “10-12 page report” will be submitted by 12/2? Don’t bogart that joint …

How to make a lot of money: Buy GM’s GM’s 8.375 percent bonds due in July 2033. Last Friday, that bond went for 17 cents on the dollar, Bloomberg writes, citing a report of Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The bond with a rating lower than most GM cars will yield you 49 percent interest, and you can retire worry-free. Or not.

Chery pickins: China’s home-grown (non JV) Chery will expand up and down, Gasgoo says. On the up, they will continue their partnership with US-based Quantum LLC. Intent: A high-end brand for the export market. On the down, they will launch a low-end brand called “Karry.” Already, your basic Chery QQ3 can be bought for $4K in China. How low can you go?
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Never on Sunday? Not so at TTAC, a 24/7/365 world-class operation. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off.  Disclosure: Mostly bad news today.

Let’s get small: VeeDub doesn’t want to leave the cars-for-lilliputians segment to the Smart 42, or the Toyota iQ. Based on a chopped version of their upcoming (2010) VW Up, Wolfsburg wants to launch a fuel-sipping 2seater. Target is 2 liter per 100km (118 MPG.) Unconfirmed rumor as per Automobilwoche (sub.)  The oil-burning Smart ForTwo gets 71 MPG.

Let’s get cheap: Fiat plans low cost cars for the European market. Under a separate brand, says Automobilwoche (sub.) Fiat Group CEO Sergio Marchionne says he wants to be the “Wal-Mart for cars.”  Chinese imports, anyone?  “Ma no!” says FIAT. Together with their Brazilian subsidiary FIASA, FIAT works on two el cheapo cars under codenames Project 326 und 327. Then there’s another one of unknown provenance.

Nothing sacred anymore at Daimler: According to Daimler’s hometown paper Stuttgarter Zeitung, “all investments which don’t add to efficiencies and competitiveness are cancelled.” Travel, overtime, outsourcing, everything needs to be cut. The whole company is under review. Grim sales numbers. Even the green may see pruning: Investments in plug-ins, hybrids and fuel cell may get chopped. More bad news to follow …

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Even over the weekend,  TTAC never sleeps. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off.  Guarantee: Contents 100 percent car related (well, except for one.)

Opel: “We’re doing great.” GM should send Opel Chief Demant to DC. He knows when to say the right things: “All jobs are safe “(at least until 2010.) “We’ve got enough cash” (at least until next year.) “GM doesn’t owe us money” (at least not immediately.) “We don’t need a loan guarantee” (we didn’t really mean it.)  Germany’s government is now a) a bit miffed because they thought it was urgent, b) relieved because they can go Christmas shopping with the money saved.  Automobilwoche (sub) has the story.

Germany goes to the polls over Opel: Wary of wearing Opel’s new rose-colored glasses, Automobilwoche (sub) is running a poll. The question: “What should happen to Opel?” Here’s the tally so far.  “Opel goes it alone” – 50 percent. “Opel remains part of GM” – 15  percent. “Opel merges with BMW” – 15 percent. “Opel merges with Fiat” – 13 percent. “Opel merges with Daimler” – 7 percent. Don’t blame us, just reporting the news.

Just say no: Bernhard Mattes, chief of Ford Motor Co.’s German unit, would also make quick friends in DC. He says that Ford Deutschland can survive just fine, thank you, without a bailout from the German government, AP reports via Yahoo. Ford wouldn’t turn down a share of the loan package by the European Union, if offered. The consensus in Europe is the package is dead in the water, because it needs the consensus from the non auto making members. Dream on. And read on …

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The sun never sets on TTAC’s devious empire. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off. Our pledge: No feelings will be hurt (except those of automobile execs, one copy-writer, and the gravitationally challenged.)

Opel’s ad attack: While other car companies slash ad budgets, GM’s Opel unleashes a Blitzkrieg on the German populace. “Opel Secures Future” blares the banner headline of full page ads appearing in national German newspapers. [NB: The line doesn’t say “Opel’s Future Secure”]. According to Bloomberg, the target of the ad-attack is to “reassure car buyers that may be spooked by the woes of its parent.”  The copy-writer must have been high on something, hyperbole at the very least:  “Opel is financially solid and as a brand and a company not at risk.” Boerse-Express says the true aim of the ads is Opel’s foot: “If they are doing so well, why loan guarantees?” Good question.

GM in denial: RenCen weighs in on the topic, says “Opel is not for sale.” Not because they wouldn’t want to. GM flak Tom Wilkinson tells AFP that brands like Opel “are so integrated into GM’s global operations, we would not or could not sell them.” Darn. Nothing works anymore.

Dealers ready to buy Opel: Opel’s German dealer council met last Tuesday and discussed to buy Opel themselves, before Opel goes under. “This is under serious consideration,” says Paul Schäfer, GM of Opel Staiger in Stuttgart, to Automobilwoche (sub.) The money could be raised. Despite (or because) of GM’s denials, the dealers are worried. In the meantime, non-essential expenses, such as a new CI for dealers or a revamped DMS have been put on ice.

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When America gets out of bed, Tokyo is heading home in crowded subways, and Europeans still finish long lunches. While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones. TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off. Due to popular demand, today, no sordid jokes. Get A1 if you want spice.

Aussie wants SAIC to buy Holden: In the SAIC-buys-GM saga, Melbourne-based publisher of GoAuto.com.au, John Mellor, said to Gasgoo that “Holden could wind up in the hands of SAIC and being Asian-owned could help springboard the local industry into the growing Asian car markets.” While Dear John was at it, he also opined that Australia could be bought by the Indian-based Tata Group.

Opel stunt a derivates play? As reported, the German company SolarWorld AG offered €1b to buy Opel Germany. German wags think the SolarWorld is a “marketing stunt” at best. Other think, SolarWorld lost their mind. For sure, SolarWorld’s stock tanked on the news. SolarWorld’s CEO Asbeck denies this morning via Reuters allegations that the matter was a derivatives play. Asbeck still claims he’s serious, and that he has “received a different answer from GM HQ than from Opel.” Opel yesterday said: “Nein.”

Opel survival guaranteed: In its final hour, the parliament of Hesse approved up to €800m in loan guarantees for Opel, writes the Rhein-Neckar Zeitung. After the money was approved, the parliament dissolved itself. New elections are scheduled for January. The loan guarantees are in place for the unlikely case that GM goes bust. Wait, there’s less …

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While America Slept (WAS) is a daily round-up of the news that happened in other continents and time-zones while America suffers bailout-or-no-bailout-induced nightmares. Around the world, a network of bleary-eyed TTAC correspondents provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off.  Today in TTAC’s morning zoo:

Renault in dire straits: “Will Renault be the next car-casualty?” asks the Frankfurter Allgemeine Zeitung. This after Renault guided its year-end prognosis way down. Renault’s troubles will be Nissan’s pain. Both are joined at the aching hip. In an interview with the WSJ, Carlos Ghosn, double-head of Renault and Nissan, said he would “push for Europe to offer a €40 billion ($50 billion) loan program targeted at retooling,” (the books, presumably.) He also said, Japan should follow suit.  Gimme the money, s’il vous plait.

China pulling out of Russia: China’s largest SUV and truck maker Great Wall Motor Co said to Gasgoo that they will “terminate their joint venture in Russia because of hard industry protectionist measures in the country.” No Landwinds for the Russkies. Wait, there WAS more …

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While America Slept (WAS) is a  morning round-up of the news that happened in other continents and time-zones while America was tossing and turning. From Japan to Jakarta, a network of sleep-deprived TTAC correspondents provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off.  Here are the latest animals in TTAC’s morning zoo.

Ford dumps Mazda. Tormented U.S. automaker Ford Motor Co may announce plans to sell a 20 percent stake in long-time affiliate Mazda Motor Corp as early as today, Japan’s Nikkei business daily (sub) reported as the sun rose in the land of the rising sun. Japanese broadcaster NHK had reported more than a month ago that Ford is looking to severely lighten-up on Mazda. Currently, Ford has a controlling stake of 33.4 percent in the Japanese automaker, but Ford needs the cash.

Sell-off drives up shares: Selling a 20 percent stake will net Ford around $850 million, or more. Mazda’s shares jumped 6.4 percent on the report of Ford’s sell-off.  The estranged lovers share vehicle platforms and engineering resources and own several assembly plants together in the United States, Thailand and China. With Ford out of control at Mazda, those plants should receive some Japanese gardening.

Deal done. Later in the Japanese day, Mazda sent out an official release confirming the story. It’s in Japanese, but a usually reliable source (my Japanese wife) says it’s the real McCoy-San. Ford is down to 13 percent. Kawaii!

GM-Europe-VP: “The end may not be near.” Brent Dewar, multipurpose VP for Sales, Marketing, and After-Sales at GM Europe penned an inspirational letter to dealers: “As bad as the current results may sound, we don’t know whether we already have reached the end of the crisis.” Autohaus has a copy. From his bunker in Zurich, Dewar commands his sales forces to “fight to the last sale.”

And that WASn’t all, there’s …
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Gooooooooooooooood morning, America! While America Slept (WAS) is a daily TTAC round-up of the news that happened in other continents and time-zones (such as California.) With a network of correspondents around the globe, TTAC provides round-the-clock coverage of everything that has wheels. Or that has its wheels coming off. Welcome to the morning zoo.

Lemon-Aid: Several people at Daimler’s Quality Assurance department in Sindelfingen are being investigated by Stuttgart’s public prosecutor, writes the Sueddeutsche Zeitung.  The allegation: They intentionally made cars with flaws. The fixing of which was outsourced. The companies that did the fixing fixed up the QA guys with expensive gifts and luxury trips. Damage: “In the high million Euros.” They might be doing time for that.

Porsche agrees with Obama: Porsche wants change. At the Volkswagen Supervisory Board Meeting this week, Porsche Chief “Wendy” Wiedeking will request that VW keeps the Golf VI (that’s Roman numeral 6) longer than until 2011 (as planned.) Should save some R&D money right here and now. Also to be changed: A “Committee for Special Business Relations.” That committee prevented know-how transfer from Audi to Porsche. Porsche thinks, the committee is superfluous. Also reported in the Sueddeutsche.

POTUS is a Renegade: Speaking of Obama, the London Times reports that the “The United States Secret Service revealed its not-so-secret code-name for president-elect Barack Obama last week: Renegade. If it sounds like the make of a car, that’s because it is. The Renegade is a concept car being developed by Chrysler, an open-topped jeep powered by electricity and diesel. Should the car ever make it into production then, like its namesake president-to-be, it, too, promises change – this time at 110 miles per gallon.” Gotta love them Brit sentences. Wait, there’s more!

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