Many of us consider Mitsubishi to be on its deathbed (as an automaker – they still make TVs and cell phones, right?), but the brand is apparently showing an all-new car at the Geneva Auto Show, destined to be the new face of the brand. But nobody knows what the hell it’s going to be.
Ford’s Australia branch is getting $34 million AUD (roughly $35 million U.S. dollars) plus an unspecified contribution from the government of Victoria (an Australian state), to sustain a Ford plant in Melbourne. Total investment is said to be roughly $105 million USD. Holden, GM’s Australian division, is looking for some government funds too, and its raising questions about the viability of Australia’s domestic car industry.
More new information from today’s GAO post:
Moreover, whether enough time has passed for the impact of the structural changes to be seen is unlikely, especially given that the automakers have not completed restructuring, the economy is still recovering, and new vehicle purchases remain at low levels. For instance, although the federal Car Allowance Rebate System program resulted in a sales spike in August,16 September sales returned to historically low levels. These and other challenges are likely to delay the companies’ recovery beyond what it would be under more favorable economic circumstances.
As TTAC noted last Friday, “finding a real, sustainable bottom of the market from which to grow is not made easier by erratic bursts of stimulus frenzy.”
Go to any auto auction. Chances are you’ll see 2001 Accords and Camrys go for higher prices than 2003 Tauruses and Grand Prixs. Is that premium justified? Well, I’ll put it to you this way.
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