MotorMediaWatch October 31:
Oct 31, 2008 MotorMediaWatch
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In troubled times, Ford plans to hitch a ride with GM
It will let the larger automaker take the lead in exploring options for help from the government as well as possible concessions from the United Auto Workers union. (LAT)+++
Governors Urge Auto-Maker Aid
A coalition of governors sent a letter to Paulson and Bernanke requesting immediate action to address an escalating liquidity crisis in the auto industry. (WSJ)+++
Ford Device Stretches Gallons
Rising gas prices have dramatically increased Americans’ interest in tailoring their driving styles to save fuel. Now auto makers are rushing to help out.(WSJ)++
Car Retailers Write Off Domestic Brands
Earnings from auto dealership chains show that many Detroit auto franchises have become practically worthless.(WSJ)+++
VW’s 348% Two-Day Gain Is Pain for Hedge Funds
Hedge funds world-wide face billions of dollars in losses after bad bets on Volkswagen’s shares, which soared 82%.(WSJ)+++
Hertz Raises Retail Rates on Car Rentals
Several rental-car agencies have recently started raising prices to reflect increasing operating costs.(WSJ)+++
Six governors ask feds for help for U.S. automakers
The governors of six states have asked the treasury secretary and Federal Reserve chairman to take ‘immediate action’ to help the troubled domestic automakers. (SJM)+++
Oil prices drop in reaction to weak gross-domestic product report
Oil prices slumped Thursday as the world’s largest economy said the economy slowed in the third quarter in what figures to be the clearest sign yet that the U.S. is now in a recession. (SJM)+++
GM efforts to get assistance for merger hit snag
The U.S. Treasury Department, armed with a $700-billion fund to help salvage the economy, is no longer talking to automakers about possible aid, further complicating efforts by General Motors to seek help for a merger with Chrysler, the Free Press was told today.(DFP)+++
Granholm says state preparing for job losses; meeting with officials postponed
Gov. Jennifer Granholm cautioned that the automotive industry “is not going to look the same” after merger talks between General Motors Corp. and Chrysler LLC are finished.(DFP)+++
Granholm, 5 other governors implore federal leaders for auto industry aid
WASHINGTON – Six governors, including Michigan Gov. Jennifer Granholm, asked the U.S. Treasury today to speed aid to the auto industry, saying it faced “unimaginable challenges.”(DFP)+++
Lear, Visteon, TRW Automotive lose money
Auto suppliers Lear Corp., Visteon Corp. and TRW Automotive Holdings Corp. reported losses during the third quarter, considered one of the toughest for automotive firms in more than a decade because of steep declines in production.(DFP)+++
Consultant: GM-Chrysler deal possible by Tuesday
There is a chance that there could be an agreement between General Motors and Chrysler by Tuesday that would result in half of Chrysler’s assembly plants closing and 24,000 lost jobs, Kimberly Rodriguez, principal of Grant Thornton’s automotive practice, said today.(DFP)+++
Obama promises to meet with automakers, UAW
WASHINGTON – Democratic presidential nominee Barack Obama pledged today to meet with the leaders of Detroit’s automakers and the UAW to help chart a course for the industry.(DFP)+++
Visteon 3Q losses grow with sales drop, restructuring
VAN BUREN TOWNSHIP — Visteon Corp. said today its third-quarter loss widened on a drop in sales and hefty restructuring charges related to plant closures and job cuts.(DFP)+++
Mazda posts modest gain, Mitsubishi climbs into black
TOKYO — Mitsubishi Motors Corp. said today it swung into the black during the April-September period for the first time in six years, while the surging yen limited Mazda, an affiliate of Ford Motor Co., to a modest gain in profit.(DFP)+++
Ford touts 2010 fuel efficiency; adds Fusion, Milan engine choices
Ford Motor Co. on Wednesday laid the groundwork for the launch of its 2010 Ford Fusion and Mercury Milan early next year by announcing one of its most fuel-efficient powertrain lineups for a new-car model.(DFP)+++
GMAC mulls becoming bank holding firm
WASHINGTON — GMAC Financial Services says it’s holding discussions with federal regulators about becoming a bank holding company. The move could help it access government funding.(DFP)+++
Auctions: 2010 Chevy Camaro SS
The 2010 Chevrolet Camaro SS auctioned on eBay as a fundraiser for the College for Creative Studies in Detroit sold for $73,000. That’s a far cry from the announced price of $30,995 that the Camaro SS will sell for when General Motors Corp. begins production early next year.(DFP)+++
Spare Thoughts from Mark Phelan’s readers
Readers react to my review of the Mitsubishi Lancer Evo:(DFP)+++
Phelan’s Corner: Chrysler to show electric vehicles in Los Angeles
Chrysler plans to show at least one, and perhaps all three, of the electric vehicles it is developing at the Los Angeles auto show in a few weeks. (DFP)+++
Auto news in brief: Buyout deadline extended
General Motors Corp. has extended its deadline for white-collar workers to accept buyout and early retirement packages, and the company says involuntary layoffs are possible as it continues cost-cutting efforts. (DFP)+++
2008 MazdaSpeed3 Grand Touring
How would you like to be able to purchase one of the quickest and fastest front-wheel-drive cars in today’s automotive marketplace, capable of ticking off 0 to 60 mph in fewer than 6 seconds for just a smidgeon more…(SFC)+++
Look for 2009 Toyota Camry to remain a top-seller
The staple of the midsize sedan segment, Toyota Camry, continues its buyer appeal into 2009 with a broad line-up, from fuel-efficient to near luxury models. (SFC)+++
Hyundai releases tech specs on 2010 Genesis Coupe
Hyundai’s headline figure for the 2.0-liter turbo-equipped Genesis coupe is 30 mpg. While we can’t fault Hyundai for trying to hype the two-door’s fuel efficiency, for us, there are more important numbers to look at. (AUTOBLOG)+++
Prius rumors abound: Separate brand, 80 mpg, 3 different models
An “insider” at LLN has it on good authority that the oft-rumored Prius brand is, in their words, “a go.”(AUTOBLOG)+++
Animal collisions up 50% over 2000
If you plan on driving in November, and who doesn’t, keep an eye out for wildlife.(AUTOBLOG)+++
Bugatti developing Veyron Grand Sport Sang Noir edition
If the current list of Bugatti Veyron derivatives isn’t confusing enough, the automaker is developing yet another variant to be available to customers in April 2009.(AUTOBLOG)+++
2010 Ford Fusion Hybrid expected to get 38 mpg city
Over on AutoblogGreen, our man Sam has published a thorough breakdown of all the new powertrains announced for the 2010 Ford Fusion and Mercury Milan. (AUTOBLOG)+++
Latest 2010 Ford Mustang teaser reveals more of center console
Ford’s agonizingly slow reveal of the 2010 Mustang continues today with the fourth last teaser image revealed to be the lower part of the center console and full view of the gear shift.(AUTOBLOG)+++
GM launches Cruze in South Korea as Lacetti Premiere
The Chevy Cruze era has begun in South Korea, except the sedan will be badged as the Lacetti Premiere.(AUTOBLOG)+++
Toyota denies rumors of giving aid to GM
Rumors of a meeting between GM CEO Rick Wagoner and top officials from Toyota in Japan has been denied.(AUTOBLOG)+++
Audi TT RS specs leak out
The crew from WCF supposedly intercepted a letter en route to German dealers from Audi HQ that gives up the details on the forthcoming Audi TT RS.(AUTOBLOG)+++
Porsche Panamera key looks like… Porsche Panamera
What you’re looking at is a Porsche Panamera key. Arguably, it’s better looking than the Panamera prototypes currently racking up more frequent flier miles than the Travelocity gnome. (AUTOBLOG)+++
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