Automakers go eyeball to eyeball
The News Review:
- Automakers go eyeball to eyeball
- Kurt Busch moves up in NASCAR Sprint Cup standings
- Magna Has Second Straight Loss as Auto utput Slides
- China Auto Logistics Continues to Accelerate Toward National …
- Autoliv Lowers utlook Amid Stalled Auto Production
Automakers go eyeball to eyeball
CNNMoney.com -
To say the stakes couldn’t be higher would be to understate the seriousness of the situation. Last week both companies submitted lengthy plans to justify their requests for more government aid so they could stay in business. Now they will have to defend those plans face-to-face with a group of government wise men who probably aren’t all that sympathetic to their plight. If the auto guys fail to win over the government’s auto team the consequences will be quick and bloody.
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Kurt Busch moves up in NASCAR Sprint Cup standings
Los Angeles Times CA -
Kurt 30 finished fifth in the Auto Club 500 in his Penske Racing Dodge a week after opening the season with a 10th-place finish in the Daytona 500. That lifted the older Busch brother to third place in the Cup standings behind points leader Matt Kenseth who won both races and Jeff Gordon who finished second to Kenseth in Sunday’s race at Auto Club Speedway. “We’re happy a top-five finish is good.
Magna Has Second Straight Loss as Auto utput Slides
Bloomberg -
24 (Bloomberg) — Magna International Inc. NorthAmerica?s largest auto-parts supplier reported a secondstraight quarterly loss as the recession eroded vehicle demand. The fourth-quarter loss was $148 million or $1. Excluding costs for cutting jobs and writing down assets Magnahad a loss of 68 cents a share wider than the 64-cent averageestimate of 14 analysts surveyed by Bloomberg survey.
China Auto Logistics Continues to Accelerate Toward National …
CNNMoney.com -
Tong Shiping CE and President of the Company one of China’s leadingautomobile importers as well as a top provider of one-stop automobilelogistics and dealer financing and the originator of two leadingautomobile websites stated: “While a number of factors are driving ourvision to become the leading national website for buyers and dealers ofdomestic Chinese automobiles there is one fact that stands out. Namelyas confirmed again in the most recent statistics while China expects thisyear to surpass the U. in auto sales its population continues to ranksignificantly below the rest of the world in auto ownership per capita. With less than 40 autos per thousand people China’s consumers compare withan average automobile ownership per thousand of 139 internationally and 600per thousand in the U.
Autoliv Lowers utlook Amid Stalled Auto Production
CNNMoney.com -
(ALV) the world’s largest maker of seatbelts and airbags Tuesday lowered its outlook for the first quarter on the backof the collapse in production of new cars in North America and Europe. It also disclosed that General Motors Corp. (GM) and Chrysler LLC in NorthAmerica together owed the company $50 million as of Jan. The Swedish-American company said it forecasts operating margin to be betweenminus 5% and minus 10% in the first quarter down from its previous forecast ofminus 5% to minus 7%.
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