The News Review:
- Flat year at US auto shows reflects market doldrums
- US auto industry facing a grim year
- Bloomberg praises auto prize
- US auto industry facing a grim year
- Kia Unveils Koup Concept at NY Auto Show
- Thai auto exports surge 37 percent in first two months
Flat year at US auto shows reflects market doldrums
International Herald Tribune – Mar 20, 2008
auto shows including this week's New York International Auto Show. But automakers remained upbeat as they showed products they hope will lift the U.
US auto industry facing a grim year
International Herald Tribune – Mar 20, 2008
auto industry is bracing for what may be its worst year in a decade. Several industry forecasters have sharply cut their projections for new- vehicle sales to less than 15. 5 million this year and have abandoned rosy predictions for a rebound in the second half. The gloomy outlook reflecting credit turmoil the housing crisis and the softening economy will probably lead to more production cuts by car companies. But the good news for buyers is that they can expect better deals to draw them into the showroom.
Bloomberg praises auto prize
Forbes – Mar 20, 2008
Bloomberg was at the New York International Auto Show Thursday to help introduce the Automotive X Prize which will award $10 million to teams that develop production-ready cars that get 100 miles to the gallon or more. ‘We really need some new thinking. We need some innovation’ Bloomberg said. ‘I don’t think there’s any bigger threat to our world and to our country than global warming and our dependency on oil and the automobile is really at the root of both of those things.
US auto industry facing a grim year
International Herald Tribune – Mar 20, 2008
“We have triggered actions right now to conserve liquidity” he said. However he said that GM would not overreact to the weak market by escalating incentives or dumping vehicle inventory into rental fleets. A three-week-old strike at American Axle and Manufacturing has led GM to furlough plants that make its full-size pickups and sport utility vehicles two lines that have seen drastic sales drops because of higher gasoline prices. Still at least one industry analyst Brian Johnson of Lehman Brothers which is forecasting auto sales of 15 million to 15.
Kia Unveils Koup Concept at NY Auto Show
Motley Fool – Mar 20, 2008
Tom Kearns chief designer for Kia Motors America said the production-ready model represents the future of the Kia brand. “With the Kia Koup we set out to create an emotional design that attracts young people that are moving up” Kearns told reporters at the New York International Auto Show. Kearns said the Koup’s unique “check-marked” shape gives it a feeling of high performance that is backed up by a 2-liter 290 horse power turbocharged engine. It’s complimented by carbon fiber and black chrome enhanced LED lamp lenses and 19-inch aluminum wheels.
Thai auto exports surge 37 percent in first two months
Forbes – Mar 20, 2008
The country’s auto exports in January and February were worth 81. 22 billion baht higher than the same period last year according to the Federation of Thai Industries. The figure includes automobiles as well as engines and parts the group said.