The officials of the Korean brand, officials and honored guests gathered in the Georgia state official opening ceremony of the first production base of the brand in West Point, Georgia with a capacity of 300 000 vehicles a year for distribution in North America and global markets. 500 guests visited the celebration, including the president of automotive concern Hyundai-Kia, Mongo-Kuu Chung, CEO of Kia Motors America, Biang Mo-Ann, the governor of Georgia, Sonny Perdyu and other officials. ‘We welcome the new home of Kia in West Point, Georgia,’ said Mr Ahn. ‘Hard work the whole team has helped the brand to make it the fastest growing automotive brand in the world. After presenting an entirely new Sorrento and the founding of the first production base in the United States, Kia is ready for further growth with the ultimate goal – a world leader in cars with high quality and innovative fresh approach. ” With an investment of $ 1 billion in size and 204 000 square meters of brand new factory occupies an area of 2 200 acres. Classifying are 4 main workshops for stamping, welding, painting and assembly. The new facility includes workshops for gear boxes, modules, and test and tape production line to a length of 3.2 kilometers. The main room for installation of car is equipped with conveyors for precise height adjustment for the convenience of the service teams and a maximum reduction of heavy physical labor. KMMG is the only plant in North America, whose floor is made of wood for a more favorable working environment.
(more…)

Largest car company in the world, Toyota has found a defect in the brake pedal to accelerate to around 1,8 million of its cars in Europe, cited by New York Times. The Japanese company will withdraw the problematic vehicles over the next few months from market. A similar problem was found with models of Toyota in the U.S. and China, the total number of affected cars is outnumbered 9 million. Among the models in Europe, where defects are established, enter Yaris, Corolla and RAV4. Yesterday it became clear that Toyota will withdraw from the sale even 1,1 million cars in the U.S. and will stop production of eight popular models in the U.S. market in the U.S. and Canada. Previously, the management of Toyota said that 2,3 million vehicles in the U.S. have a problem with the pedal to accelerate. Another 5 million cars have a manufacturing defect resulting in the accelerator can be blocked.
(more…)

The luxury division of Volkswagen – Audi plans to submit to the bazaar to eight new models in 2015 in an attempt to overtake its biggest competitor Bavarian BMW, which is the largest producer of high-class cars in the world. For this purpose, the company set aside in 2012 to 7.3 billion euros, which will go as well as investment in new models and in the expansion and modernization of production facilities in factories. The budget for the development of new cars is 5.9 billion euros. The investments are part of Volkswagen’s strategy to become the world’s leading producer, for all their parent units by 2012 the amount paid from 25.8 billion euros for development of new models. Audi, which stands third in the horizon after the luxury BMW and Mercedes-Benz, will increase its model range from 34 to 42 models. Among the new recruits will be A1 compact model, which is expected to appear in mid-2010
(more…)

The French car-builder PSA Peugeot Citroen has confirmed that negotiations with its Japanese partner Mitsubishi Motors to expand cooperation between them, which can become a “strategic partnership”, AFP reported. According to Japanese economic newspaper Nikkei PSA is preparing to acquire control of 30 to 50 percent of the capital located in a difficult financial situation of Mitsubishi Motors, as companies are currently in the final stage of negotiations. Mitsubishi spokesman confirmed that both groups hold talks on projects of mutual benefit. The PSA did not deny the negotiations, but not confirmed for the opportunity to purchase shares of the Japanese firm. According to Japanese press most likely scenario is Mitsubishi to issue new shares for between 200 and 300 billion yen ($ 1,5-2,3 billion) to buy PSA provides its share of 30-50% in equity. Any transaction with Mitsubishi will provide Peugeot Citroen increased access to Asian markets, which are expected to continue to grow rapidly. PSA and Mitsubishi are partnering for several years. Companies develop vehicles together 4×4 Peugeot 4007 and Citroen C-Crosser, have in common electric cars development and joint venture in Russia.
(more…)

Italy will use the visit of Russian President Dmitry Medvedev to expand ties with Russia, including a possible deal for the production of Chrysler models from Fiat SpA in the country as part of a “strategic partnership” between the two countries. Fiat and Russian automaker Sollers “discuss important investments for the production of cars carrying the production of Chrysler in Russia,” said Italian Industry Minister Claudio Skayola, cited by Bloomberg. Fiat has a controlling stake in U.S. company. It is envisaged that more transactions to be concluded between Finmeccanica SpA and Sukhoi aviation holding company, and between Eni SpA and Gazprom for pipeline project South Stream. Italy has long been cooperating with Moscow, which has earned both profitable contracts, and criticism from its NATO partners. (more…)

The Prime Minister of Russia Vladimir Putin is expected to arrive to Paris for talks on expanding economic cooperation with France on Thursday and Friday, when it will be discussed and the program for the future of troubled maker Avtovaz., Said Deputy Prime Minister Igor Andreyevich Shuvalov. He added that talks between Russian and French officials in Paris to help solve the problems of the Russian automotive company, as there is a real opportunity to make this car a giant in a new venture. After the agreements to be concluded at the highest level, will go towards projects for the modernization of Avtovaz, “said Russian Deputy Prime Minister. The French company Renault now owns 25% stake in Avtovaz. Andreyevich Shuvalov not wish to disclose details, but his spokesman said more details will be provided during the visit of Prime Minister Putin.
(more…)

Ferrari was another producer who will have to retrieve their cars from the market and exactly in the United States. Because of a problem in improperly installed brackets on models 355 and 355 F1,, holding the tube of gas and coolant hose is in danger of rupture of the fuel and subsequent ignition of the entire car. All 2 356 car will get new brackets that will be installed in the Ferrari service centers in the U.S., then the owners will get them back. This is not the first time that Ferrari has recourse to such a step. In 1989 the company had withdrawn from 1 331 Car Model 328, because of problems with suspension. In 1998, even 556 copies of the 348 had defective seat belts or a problem with the engine. In 2000, Ferrari have changed the oil filter of 2 790 cars of different models in 2002 to 211 cars 360 Spider had problems with battery, and in 2003 2 008 units of re-512TR were defective belts. In early October it became clear that Toyota plans to recall 3.8 million in the U.S. car because of problems with the driver’s sock, which may lead to an accident. A little later Ford launched a global program for the return of nearly 4.5 million cars in the workshop. Less than two weeks Mitsubishi withdraw 29 353 pieces of model Lancer and Lancer Evolution.
(more…)

Obviously, buying a car is a major decision, one that involves not only comfort and safety, but also money. While people take out car loans all the time, some people simply have no real understanding of the basics, which is a shame because those are the people that end up with higher interest rates than they should get and terms that could have been better. Therefore, learning the basics of an car loans online is very important before going out to buy. Auto loans are not complicated but they are serious.
The more a person can be prepared prior to shopping for a new care the better decision he or she would ultimately make. This financial transaction needs to be seen as something very serious, respecting it for what it is, a long-term commitment. If the wrong loan were chosen, the car owner could end up paying far more money than necessary for years to come. However, with a few simple guidelines, people can get a fantastic auto loans online, one that offers great terms and low interest.
• New versus Used Vehicle – One of the first things a person should consider before looking at auto loans is whether to purchase a new or used vehicle. Both have advantages and disadvantages but financing would be quite different. New car loans can typically be established for a longer amount of time but both new and used car loans have a number of options.
(more…)

The only car manufacturer in the United States, which escaped bankruptcy (unlike GM and Chrysler) – Ford, announced that during the third quarter made a profit of 997 million dollars. This is a positive result for the company’s operating profit for the first quarter of 2008. Profits before tax amounted to 1.1 billion dollars or 26 cents a share, compared with a loss of $ 3 billion for the period July-September 2008, analysts expected a loss of 20 cents per share. We recall that in the second quarter the company also reported a profit but it was a result of debt restructuring, which was then reduced 10 billion dollars due to capitalization. The company’s revenues fell by 2.5 percent compared with same period of 2008, falling approximately 30.9 million, which, however, is expected by the market over 28.5 billion dollars.
(more…)

The deal for selling of the Swedish car manufacturer Volvo, which is owned by Ford, the Chinese firm Geely for $ 2 billion may fail, warns agency Bloomberg, citing its own sources, without revealing their names. Geely is negotiating the purchase of Volvo by Ford for about 10 months. On another round of talks, which are currently kept in London, both sides try to reach agreement on patent rights. U.S. company wants to obtain from Geely guarantee that it will use the development of Volvo, which Ford intends to use in their future models. «Volvo is a fully integrated strategy for development of Ford’s total production and it is important to negotiate a development will remain where designers of the Swedish brand,” Bloomberg quotes a participant in the negotiations. According to consulting firm CSM Worldwide, which is one of intermediaries to deal with the Chinese if the negotiations fail, Ford will retain control over the Volvo and will not seek a new buyer will even take steps to improve the condition of its subsidiary. The negotiations were complicated because of the arrest last week for theft of technical documentation from the U.S. manufacturer of Chinese citizen Syan Dong Yu He spent 10 years as an engineer at Ford.
(more…)