Whereas Chrysler’s surprise operating profit in the first quarter of this year was achieved mainly through cost-cutting, GM’s just-announced Q1 profit comes on the strength of sales increases in most of its global markets. Though The General’s sales numbers are still lower than they need to be, momentum is headed in the right direction… albeit somewhat more slowly than had been hoped.
While bullets fly in Bangkok, Toyota announced today that production at a Toyota plant near Bangkok will cease by the end of May. Toyota says the plant closure has nothing to do with the public unrest, it should be seen on the context of the reorganization of Toyota’s global operations, says The Nikkei [sub]. (Read More…)
If there were a global brand that GM should have killed, it’s probably Daewoo. Outside the South Korean market, the name is so associated with cheap, crummy cars, that GM rebadges nearly all of Daewoo’s exports as Chevrolets. And even then, the “Chevwoo” brand is tainted by the fact that GM refuses to take ownership of its troubled South Korean operations, and enforce a one-badge policy in line with Chevy’s global branding. And it’s not like the Daewoo name is all that beloved in Korea either, as The General recently figured out that as many as 40 percent of all Korean Daewoo buyers were replacing their badges with Chevy bowties supplied by the aftermarket. In fact, GM was threatening to get rid of the Daewoo name altogether and replacing it with Chevrolet. But apparently because of fears of alienating Korean customers and “resistance from labor unions,” GM has decided to introduce the Chevrolet brand to Korea without killing off Daewoo. As GM’s presser puts it:
today’s announcement is about brand coexistence, not brand replacement
Sound familiar?
The Guardian reports that in the first 9 months of 2009, Volkswagen/Porsche made 4.4 million cars whereas Toyota made 4 million. Naturally, the majority of VW’s growth has come from the area which is growing even faster than VW, China. But the lads from the Middle Kingdom weren’t the only modes of growth for Volkswagen. The Wolfsburg warriors were also beneficiaries of European stimulus packages (A.K.A: Cash for Clunkers) where Volkswagen have large market share (Germany, UK, etc). Charity really does begin at home!
(Read More…)
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