Business News » automobiles

Ford will invest 450 million USD for new factory in Thailand

viliyana89 — Thu, 24 Jun 2010 11:47:56 +0000

The motor company Ford Motor Co plans to invest 450 million dollars in building a production base in Thailand, Reuters reported. The main part of the production of the new plant will be exported, which is part of the company’s expansion in Asia-Pacific region. The factory in the eastern province of Rayong will produce Ford Focus cars from 2012, but will set a future opportunity to diversify production, reported by the company. “This investment underlines our long-term commitment to Thailand and its role as a global manufacturing and export center for Ford”, commented Joe Hinrih, president of the company’s Asia-Pacific, and Africa. The factory with an area 750 thousand square meters will have an initial capacity of 150 thousand units per year and 85% of production will be destined for markets outside Thailand. Ford plans to buy locally produced components totaling up to 800 million dollars a year and the plant has the potential to provide up to 11 thousand new jobs, the company indicated.
The company is investing in developing the business in Asia, because of low cost working-hand and materials.

Honda increased wages in China

viliyana89 — Tue, 01 Jun 2010 17:00:54 +0000

The Japanese car manufacturer Honda announced on Tuesday that the proposed increase of 24% of wages for factory workers in the company’s spare parts in China. The offer comes after the ongoing strike at the factory, which blocked the production of the group in the country. Honda is ready to increase by 366 yuan (44 million) the average wages of workers in its factory in Foshan, which monthly salary will reach 1,910 yuan (228 million). Following the proposal work in the factory was partially restored, reports the manufacturer. According to the company the majority of workers have accepted the proposal, pending further negotiations with those who are unhappy. To serve as a mediator in the talks representatives of local authorities, designated by Honda. However, their task is difficult as those who still protest appear determined not to allow recovery of production and seek to prevent his colleagues to return to work. “We’re not satisfied. We want an increase of 800 yuan (95 million), “said one of the strikers.
Last year Honda sold in China is 576,223 cars, up 23 percent over the previous 12-month period.

KIA opened a factory for 1 billion USD

viliyana89 — Tue, 02 Mar 2010 09:35:36 +0000

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.
Implemented in the base technologies imply higher productivity and efficiency of business processes. Printing press delivers 5 400 тона pressure, fully automated welding workshop is equipped C 242 machines in a room used green technologies. KMMG has rail lines between rooms to facilitate transportation. Impressive manufacturing base and suppliers of the manufacturing company has secured more than a thousand jobs for the local population. We work in KMMG 1200 employees as their number is planned to double by the end of this year. Mass production of entirely new Kia Sorento was launched on 16 November 2009. model is the official distributor in the United States since January this year. With only realized for the first month of this year – 7 398 number in the SUV segment representative has become a bestseller of the brand.
‘Successful delivery of the first model constructed at West Point, Georgia is a good achievement for KMMG, KMA and Kia as a brand, “said Mr. Ahn.” We are trying to increase production of the Kia model range, while retaining the main advantages of the mark: cost ratio -quality, security and new technologies. KMMG will play a significant role in achieving our goals. ” Despite the economic downturn and the global recession, sales of Kia in America increased by 9.8 percent over the previous year to reach 300 063 units. Kia plans to achieve 347 thousand units in 2010., An increase of 15.6%.

Toyota will draw 9 million defective cars worldwide

viliyana89 — Sat, 30 Jan 2010 22:58:16 +0000

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.
A statement by the company it became clear that so far in Europe and the U.S. have not been established incidents caused by the defect.

Audi will compete mercedes for best selling luxury car

viliyana89 — Fri, 25 Dec 2009 16:12:06 +0000

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
Next year is expected to release the A7, which will be 4-door coupe similar to the Mercedes-Benz CLS and VW Passat CC. At the end of 2010 will be reveal hybrid version of this SUV-X5.

Peugeot Citroen will buy 50% from Mitsubishi?

viliyana89 — Fri, 04 Dec 2009 08:46:53 +0000

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.
Alliance between the two producers would create the sixth largest automobile giant in the world with total annual sales for 2008 of 4.45 million units car.

Chrysler may create a factory in Russia

viliyana89 — Wed, 02 Dec 2009 15:35:01 +0000

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. Eni signed its first treaty with the Soviet Union in 1958 and since 1991 continues to build its relations with Russia, creating a partnership with Gazprom.

Putin in Paris to discuss the future of Avtovaz

viliyana89 — Mon, 23 Nov 2009 22:00:57 +0000

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.
The deal is quite important for Russian economy.

Ferrari returned 2356 cars from US Markets

viliyana89 — Thu, 19 Nov 2009 18:59:08 +0000

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.
Then the company explained that the prolonged effects of a mixture of snow and salt can lead to acceleration of corrosion, which in turn can affect the retention in reaction of the cushions of safety in case of disaster.

Learning the Basics of an Auto Loan

viliyana89 — Tue, 10 Nov 2009 17:13:27 +0000

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.
• Budget – The individual would need to borrow the right amount of money, based on a budget created. For this, the person should make a list of all debt and income to see how much of a car could be afforded. Then, sticking to the budget, the person would have a better idea as to the type of cars he or she should be considering. Even if the car dealer tried to get that person to buy more car than needed, the borrower would have the figures already determined.
• Credit FICO Score – When it comes to taking out an auto loan, one of the initial steps any lender would take is pulling a copy of the borrower’s credit report from all three credit bureaus. Based on the information received, the lender would then determine if the loan would be approved or denied, how much would be lent, and the interest rate offered. People that have great credit always get the best rates so if the buyer has some imperfections on the report, it would be worth waiting to purchase a car for six months, during which time the credit report would be corrected and the score improved. From there, lenders would be more willing to provide an auto loan but at a better interest rate.
• Auto Insurance – A common mistake seen with people that go car shopping is they find a vehicle they like, lock into the loan, and then notify the insurance company only to find out that their rate has now doubled or tripled. Therefore, in addition to a person finding the right car and getting the best auto loan, it would also be important to talk to the insurance company to determine what type of impact different cars would have on rates.
• Research Lenders – Not all auto loan companies are the same. For instance, sometimes a credit union will offer better terms and lower interest rates than what a person would get from a bank. Additionally, while the 0% financing often seen offered from car dealerships might seem like a fantastic deal, when the numbers are crunched and looked at over the life of the loan, it might be better for the person to choose different financing. Therefore, looking at several auto loan companies and the different terms available would ensure the best loan.