The News Review:
- ‘Cash for Clunkers’ May Distort US Auto Marketplace
- RPT-Detroit’s car woes spread to California
- Bidvest sees autos upturn; UK weakness hits profits
- Auto Club: Labor Day Travel Drops From Last Year
‘Cash for Clunkers’ May Distort US Auto Marketplace
Voice of America
auto industry be headed for more volatility? In a bid to boost U. economic activity the government in August offered consumers a $3 billion auto incentive program if they would replace their older gas-guzzling vehicles commonly known as ?clunkers? for newer more fuel-efficient models. Each buyer was offered a voucher worth up to $4500. ?The risk of course is that we?ve had a nice spike in sales through the summer really for a couple of reasons? says Jeremy Anwyl chief executive of Edmunds.
RPT-Detroit’s car woes spread to California
Reuters
Ramirez 49 had planned to continue working for theforeseeable future at the New United Motor Manufacturing Incor NUMMI plant in Fremont a place that is better known forbeing home to many technology companies. But he and about 4500 other union workers at NUMMI are nowfacing unemployment following Toyota’s decision last week toend production at the plant a joint venture between Toyota andGM [GM. UL] and the only U. auto plant west of Texas. “We are hoping Toyota will reconsider. r someone elsewill pick up our plant.
Bidvest sees autos upturn; UK weakness hits profits
Reuters
J) said full year profitfell impacted by weakness in the UK as well as a contractingdomestic auto market it said should pick up in the coming year. Bidvest said on Monday headline earnings per share for theyear to end-June dipped 12. 30 cents as closurecosts at its cash-guzzling UK vehicle distribution businessntime Automotive weighed. The company one of South Africa’s largest by revenue andwhose activities also cover food distribution and freightservices said vehicle sales dipped at home as banks remainedconservative in granting credit.
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Auto Club: Labor Day Travel Drops From Last Year
SYS-CN Media
2 million in SouthernCalifornia — both because the previous year had set a record and becausethe 2004 holiday occurred relatively late on Sept. “There’s no doubt we are seeing the effects of the economy on holidaytravel but significant other factors are also playing a role in thedownturn” said Auto Club spokesperson Jeffrey Spring. “Even thoughairfares are 17 percent cheaper than they were a year ago local air travelfor Labor Day is projected to decline nearly 20 percent compared to lastyear — and much of that may be due to families who are reluctant to travellong distances after school has already started. The top five destinations for Southern California travelers this holidayweekend according to a survey of travel agents in the Auto Club’s 75district offices are:1.