- ‘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.
Related from Rop-jo: Bidvest to buy Czech Nowaco Poland’s Farutex

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.

- Edmunds.com Sees Aug US Auto Sales Up 18%; Wary n Sept
- Auto parts suppliers ask bama for more help
- Auto Industry Braces For Hangover After The ‘Clunker’ Party

Edmunds.com Sees Aug US Auto Sales Up 18%; Wary n Sept
CNNMoney.com
SE) sales could soar 63% from lastAugust said Edmunds. Senior analyst Michelle Krebs said Hyundai and Fordbenefited most from “Cash for Clunkers” with Hyundai likely beating its priormonthly sales record “by a mile – maybe as much as 40%. ” The three major Japanese auto makers are expected to post weaker results ledby an 18% drop at Nissan Motor Co. The month had 26 selling days one less than last year as there are fiveSundays this year in August. -By Kathy Shwiff Dow Jones Newswires; 212-416-2357;.
Related from Yydxyey: Schools open Sept. 2; Kindergarten Sept. 8

Auto parts suppliers ask bama for more help
The Associated Press
In a letter to the White House Wednesday the Motor & Equipment Manufacturers Association wrote that there was “insufficient capital” available for parts suppliers to rehire workers and acquire raw materials for a possible increase in vehicle production later this year. “This assistance is vital not only to the ability to manufacture safe more fuel-efficient vehicles but also to the long-term economic recovery of this nation” said Bob McKenna the association’s president.

Auto Industry Braces For Hangover After The ‘Clunker’ Party
Washington Post
4 percentage points and create 42000 jobs by the end of 2009. Many auto industry analysts and dealers expect sales volumes to fall now that the program is over. They worry that many people who took advantage of the program were merely accelerating purchases they would have made later in the year. If that’s true the premature sales could hurt automakers which increased production in the third quarter to replenish clunker-depleted inventories that had already grown low because of factory shutdowns over the summer. Because there’s a lag time between production and getting a vehicle to a dealership the new vehicles "will hit when there’s a lower demand" said Jeff Schuster executive director of forecasting at the auto industry research firm J.

- Auto Makers Prepare To Shift Contracts If Magna Buys pel
- MARKET SNAPSHT: Housing And Auto Sectors Face Stimulus Withdrawals
- Gillette auto shop reports driver hit 11 vehicles
- Toyota to make largest auto recall in China
- Fiat searching for right road to Asia

Auto Makers Prepare To Shift Contracts If Magna Buys pel
Wall Street Journal
auto-parts makers about diverting some business from Magna International Inc. (MGA) if the company succeeds in buying General Motors Co.

MARKET SNAPSHT: Housing And Auto Sectors Face Stimulus Withdrawals
CNNMoney.com
“The recent strength in home and car sales got a large boost from thetransitory stimulus programs and we worry that sales have been brought forward” said William ‘Donnell an analyst at RBS in emailed comments. “If Peter hasin fact stolen from Paul then some benchmark economic releases could looksoggier as we hurtle toward year-end. n Monday stocks lost hold of early gains to end mostly in the red after afour-day winning streak with auto-related stocks leading declines among theconsumer discretionary sector which fell the most among the S&P 500 Index’s (SPX) 10 industry groups. Shares of Harman International Industries Inc.
Related from Rizzicreations: MARKET SNAPSHT: Housing And Auto Sectors Face Stimulus Withdrawals

Gillette auto shop reports driver hit 11 vehicles
Newsday
1392792″ “Gillette auto shop reports driver hit 11 vehicles” “” “nd”);’>Email. (AP) ? The owner of a Gillette auto sales yard says the driver of a pickup truck hit 11 vehicles at the business before driving away on Saturday morning. Bob Davis is owner of Roadrunner Auto in Gillette. He says his employees saw the driver first try to drive between two vehicles on the lot and accidentally hit one of them. Davis says the driver then apparently tried to flee and hit several more vehicles as he was backing up pushing one vehicle into the building. He says the damage was more than $80000.

Toyota to make largest auto recall in China
Reuters
T) will recall 688314 Camry and other sedans made at its two China joint ventures from Tuesday its largest recall in the country to fix a faulty electric switch to the window. But analysts say the.

Fiat searching for right road to Asia
Reuters
MI) needs to find a better route into the booming Asian car markets if it wants to catch its competitors and seal a place near the front of the grid of global automakers. Fiat maker of the diminutive Panda and Fiat 500 cars can’t rely on its recently acquired 20 percent stake in U. auto group Chrysler nor its own strength in Brazil to compensate for shrinking or stagnant sales in developed markets. “The fact that Fiat has practically nothing in Asia especially right now as that’s the only region in the world with reasonable growth is clearly a structural weakness for them” said a London-based analyst who declined to be named. Fiat’s global competitors like GM GM.

- Auto thefts decline for third straight year
- Schaeffler Secures $16.9 billion in Financing
- Auto-Rickshaws ff Delhi Roads

Auto thefts decline for third straight year
San Jose Mercury News
7 percent fewer thefts from 16243 the previous year to 14014 in 2008. Law enforcement agencies say a variety of reasons explain the drop. “We had a long stretch where auto theft had been on the climb” Antioch police Lt. “Now the repeat offenders are getting a significant amount of time (in prison) and the DA’s office is aggressively prosecuting them when they have prior (convictions). “rman said the state’s Three Strikes Law which raises the sentences of those with previous felony convictions is having a big effect. “It’s a little less attractive for people to steal cars” he said.
Related from Museedebateauxminiatures: Watercraft Theft and Recoveries in the United States

Schaeffler Secures $16.9 billion in Financing
Wall Street Journal
–>Schaeffler Secures $16. 9 billion in Financing ArticleCommentsmore in. 9 billion) in medium-term financing with five banks. Under the plan the company’s existing credit facilities will be split into two tranches — one loan that.

Auto-Rickshaws ff Delhi Roads
Wall Street Journal
About 55000 auto-rickshaw drivers in the city went on strike protesting the recent crackdown by the authorities on vehicles operating without necessary permits and pollution control certificates. The drivers are complaining that they are being heavily penalized for normal traffic offences which are hurting their daily expenses. “We have taken this extreme step to protect our livelihood” says Sobran Singh Rajput president of Bharatiya Tipahiya Chalak Sangh a trade union body of auto rickshaw drivers in New Delhi. Majority of the auto rickshaw drivers in the city hail from the poorer states like Bihar and Uttar Pradesh and are mostly illiterate and earn about 200 rupees to 300 rupees (roughly $4 to $6) a day.

- Auto suppliers under bankruptcy protection
- Porsche buy launches VW drive for world domination
- Advance Auto’s Do-It-Yourself Sales vershadow Strong 2Q
- FREE PRESS AUT CRITIC
- State Auto Financial declares 15-cent dividend
- Auto clubs allow drivers with a taste for luxury to test high-end …

Auto suppliers under bankruptcy protection
The Associated Press
has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers. Judge Christopher Sontchi said Friday that he needs time to consider the evidence and arguments. While the Van Buren Township Mich. -based company acknowledged that cutting off the benefits would cause hardship for some people it claims the benefits are one of its largest liabilities and keeping them in place would make it tough for the company to reorganize.

Porsche buy launches VW drive for world domination
AFP
Volkswagen already Europe’s biggest automaker and Porsche maker of the legendary 911 sports car agreed to a tie-up late Thursday after nearly four years of brinkmanship and infighting. The full acquisition which will also entail the Gulf state of Qatar taking a stake in Porsche and which VW estimates will produce three billion euros (four billion dollars) in synergies should be complete by 2011. It closes an ugly chapter in the history of Germany’s illustrious auto sector that began in late 2005 when two of the industry’s biggest names crossed swords in a duel for control of the empire. In the beginning it was Porsche that sought to buy VW in a bid to drive down the average carbon dioxide emissions of its fleet before new European anti-pollution legislation comes into effect in 2012. VW’s efficient Polo and Skoda models were to offset Porsche’s greenhouse-gas-spewing muscle cars. Porsche which already uses VW assembly lines also aimed to protect its powerful but insular partner against potential foreign investors. The Stuttgart-based manufacturer tried to acquire 75 percent of the shares in VW but the attempt backfired in May against the backdrop of the financial crisis which hit the auto market hard and produced a crippling credit crunch.
Related from Zxyangchen: Porsche opens door on sedan market

Advance Auto’s Do-It-Yourself Sales vershadow Strong 2Q
Wall Street Journal
(AAP) fell Thursday dragging down its competitors as investors were disappointed by the retailer’s do-it-yourself sales in the last quarter. The do-it-yourself same-store sales figures overshadowed what otherwise was a strong quarter for the company with earnings per share excluding items beating estimates and gross margin showing strong growth. But the do-it-yourself sales – also referred to as retail sales – made investors skittish since that business generates 70% of Advance Auto’s revenue. The rest of sales come from the commerical division which sells directly to garages. The figures also weighed.

FREE PRESS AUT CRITIC
Detroit Free Press
He was amazed by Saturday’s gathering of cars and sightseers: “It’s great to see the people of Detroit celebrating cars in such a difficult year. “From Ford Model A’s to tail-finned Cadillacs the 2009 Dream Cruise was also a reminder that great design and engineering endure and that Detroit has produced plenty of both. It was a welcome message to a region that has suffered unprecedented job cuts bankruptcies and political humiliation as the auto industry struggled. “I’m not trying to figure out the history of how we got here. I’m just trying to make a small difference” said A. ‘Neil proprietor of A.

State Auto Financial declares 15-cent dividend
The Associated Press
a property and casualty insurance holding company said Friday that its board declared a regular quarterly cash dividend of 15 cents. The dividend will be paid on Sept. 30 to shareholders of record as of Sept.

Auto clubs allow drivers with a taste for luxury to test high-end …
The Star-Ledger – NJ.com
For a fee of $29000 a year he can have access to a dozen exotic cars at the Vulcan Motor Club in Chester — a fair price he said considering his choices include new releases like the $495000 Mercedes-Benz SLR McLaren and the $100000-plus electric Tesla Roadster. While the rest of the auto industry struggles the high-end car rental industry appears to be gathering speed in New Jersey where at least a handful of exotic-car clubs and their multimillion-dollar fleets are headquartered. Company owners say a growing number of consumers are renting the sleek glossy vehicles for joyrides and daylong outings. “We’re in a renter’s market” said Vulcan co-founder Tom Mizzone who estimates business is up 60 percent this year and the number of annual members has grown to nearly 100. Exotic car clubs charge either by a single-day rate ranging from several hundred dollars to several thousand dollars or by membership a timeshare-like arrangement that costs $10000 to $50000 for 20 to 80 driving days a year. That makes them attractive to a surprisingly wide swath of customers from casual drivers to car aficionados who drive the brightly colored exotics to country clubs Manhattan theatres Atlantic City casinos and Cape Cod beaches.

- Sports Briefing | Auto Racing Schumacher Ends His Comeback
- This week’s auto races
- Group of Dealers Launch Private Auto Stimulus Program

Sports Briefing | Auto Racing Schumacher Ends His Comeback
New York Times
css); Sports Briefing – Auto Racing – Schumacher Ends His Comeback – NYTimes. Schumacher a seven-time champion canceled a comeback because of a neck injury. Schumacher a seven-time champion canceled a comeback because of a neck injury.
Related from Asportforumblog: Sports Briefing | Horse Racing Trainer Is Willing to Wait

This week’s auto races
The Canadian Press
Schedule: Friday practice (noon-1:30 p. ) qualifying (3:30-5 p.

Group of Dealers Launch Private Auto Stimulus Program
FXNews
appendChild(script); As senators get ready to vote on whether to add $2 billion to the ballyhooed “Cash for Clunkers” program some of the nation’s largest dealerships have created a private stimulus package of their own offering prospective car-buyers from $500 to $4500 in incentives on top of the federal program. The dealers’ package begs the question: Do taxpayers really need to kick in an additional $2 billion for the federal program now that private dealers are offering a similar — or even better — deal?”If the auto industry can afford their own $4500 per car auto stimulus why are taxpayers being forced to foot the $3 billion bill on clunkers?” Sen.

- Workers End Standoff at South Korean Auto Plant
- Group of Dealers Launch Private Auto Stimulus Program
- Auto-Loan Delinquencies Rise Further In 2Q -Fitch
- CSU gets $5 million to train auto technicians

Workers End Standoff at South Korean Auto Plant
New York Times
After the concession by Ssangyong Motor Company South Korea’s fifth-largest automaker the workers agreed to end their 77-day occupation of the plant which had virtually become war zone. The confrontation was closely monitored by foreign investors as a test of will both for South Korean unions known for their militant activism and for President.
Related from Vistra-corp: They Can Build Them; Why Can’t We?

Group of Dealers Launch Private Auto Stimulus Program
FXNews
appendChild(script); As senators get ready to vote on whether to add $2 billion to the ballyhooed “Cash for Clunkers” program some of the nation’s largest dealerships have created a private stimulus package of their own offering prospective car-buyers from $500 to $4500 in incentives on top of the federal program. The dealers’ package begs the question: Do taxpayers really need to kick in an additional $2 billion for the federal program now that private dealers are offering a similar — or even better — deal?”If the auto industry can afford their own $4500 per car auto stimulus why are taxpayers being forced to foot the $3 billion bill on clunkers?” Sen.

Auto-Loan Delinquencies Rise Further In 2Q -Fitch
Wall Street Journal
–>Auto-Loan Delinquencies Rise Further In 2Q -Fitch ArticleCommentsmore in. Fitch said loans at least 60 days.

CSU gets $5 million to train auto technicians
Newsday
4 billion announced by President Barack bama. Colorado State’s partners in the training and education program include CSU Ventures Systems Solutions Group Arapahoe Community College and the Douglas County School District. The grant is part of the U.