Ford Motor Co. seeks to regain his leadership position on the sports cars in the U.S. economy by developing a new version of the Mustang, communicate their marketing strategy with vehicle manufacturers, cited by agency Reuters. The model 2011 will be released this year, the agency stated. The new Mustang has a 3.7-liter engine will have output of 305 horsepower and will spend about 8 liters per 100 kilometers. With these basic parameters the new model is superior rival in 2010 Camaro General Motors, which is 9 months already the market leader in sports cars. Ford announced in February that they had already taken nearly 11 000 orders for the new model, which is three times more than the previous model, marketed by the company. Overall, Ford’s sales exceeded those of GM last February, which is the first time since 1998.
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General Motors to postpone finalizing the deal to sell the Opel consortium between Magna International and Russian Sberbank, reported in its online blog delegation of leading U.S. automaker for negotiating the sale, John Smith. According to him, Opel deal could not be finalized until the board of directors did not discuss it again at its meeting on 3rd of November. Ten days ago from General Motors announced that the company intends to finalize the deal by the end of last week. “Board of Directors will consider the letter from the Minister of Economy, Germany Gutenberg changes in the proposal of Magna and Sberbank of 9 September,” says Smith. It comes to responding to the Government of Germany on an official request by General Motors, the choice of the Magna is not political. Representatives of European countries in which Opel has assets subjected to sharp criticism of Berlin’s preference to sell the Opel of Magna and Sberbank. Competition Commissioner Neelie Kroes has expressed doubts last week promised state aid to the new majority owners of Opel from the government of Angela Merkel. In a letter to Germany’s economy minister Karl-Theodor zu Gutenberg Euro-Commissar writes that “must be given the opportunity to review the current owners of the election results of the offer in writing stating categorically the German government of that state aid will be granted, regardless of the chosen investor or a restructuring plan.
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The U.S. carmaker General Motors is working on a “plan B” on the future of Opel and a willingness to continue to manage its European division, says the Wall Street Journal. Despite the fact that the company is working on finalizing the deal with Canadian-Russian consortium Magna and Sberbank, problems associated with EU regulations may prevent the deal. Comes to aid of 4.5 billion, which German government grant to help Opel, a step which Community directives prohibited. At the end of last week, European Commissioner for Competition Neelie Kroes sent a letter to the Minister of Economy of Germany Karl-Theodor Gyutenberg in which it was stated that GM should have the opportunity to again review process associated with the sale of Opel. We recall that in September, GM decided to sell Magna 55 percent of Opel, as stocks remaining 35%, while the other 10 remain in the hands of employees.
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Sales of new cars and light trucks in the U.S. in September fell sharply after the “cache for old vehicles” suspend in August. On an annual basis ironed sales fell to 9.22 million units, with 14.1 million in August and 12.6 percent in September 2008, writes Financial Times. This is the second worst result for the year after the 9.17 million average annual sales recorded in February. Among the big players with the lowest drop in Ford sales is 5%, two other American manufacturers GM and Chrysler reported a decrease of respectively 45 and 42% over last year’s levels. Japanese manufacturers Toyota, Honda and Nissan have registered a fall of venue in 13%, 20% and 7%. Among the reports more sales during the ninth month of the year compared to the same Kia is raising by 24.4 percent and BMW with an increase of 3.6%. The total number of sold cars and light trucks amounted to 745 997 to 864 973 h in September 2008 or a decrease of 22.7%. One of the few profitable due to the raging economic crisis is a Korean company Hyundai, which gradually began to accumulate a reputation for its relatively cheap but high quality vehicles surged by 27% from last year September.
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The Belgian investment holding company RHJ International improve its financial proposal for the purchase of German car manufacturers Opel, owned by General Motors, offering 300 million Euro (about $ 431 million) for 50.1% of the shares of the company, police agency Reuters. The amount is 25 million more than the original price. Thus the Belgian concern hopes to grips with the Canadian Consortium Magna, which is in alliance with the Russian Sberbanka. Representatives of RHJ have confirmed their intentions in writing yesterday, September 1. Moreover, the Belgian candidate who is favored by GM, has requested that only 3.2 billion euros state aid (with EUR 6 million less than the previous application for 3,8 billion euro) and promised to return the state-guaranteed loan in period in 2013 was reduced by one year, states Reuters. Other investment and production plans have not changed RHJ.
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The American car-builder General Motors will increase its production by 60 000 vehicles by the end of the year to meet increased demand resulting from the government program against money for old cars” forward DPA. Production will be increased mainly during the period from September to December as likely in the coming months will boost production in all plants, said General Motors. The company will return to work in 1350 people in the U.S. state of Ohio and the Canadian province of Ontario and will focus on the Chevrolet Equinox, Chevrolet Cobalt and the GMC Terrain.
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The Global economy will witness new bankruptcies, though not in such scales as the bankruptcy of the automotive manufacturer General Motors, Reuters agency says to one of the owners of the auditing company Grant Thornton International. Automobile giant, which last week completed the procedure for bankruptcy and now more than 60 percent of its capital belongs to the Ministry of Finance of the United States, promised that he would back the confidence of American consumers will pay the debt to taxpayers. “Sets are chain reaction. We were witnesses of the single, albeit large bankruptcies, but soon will observe cascade of bankruptcies, “said Mike Starr, director at Grant Thornton, one of the leading audit companies. According to him, as a result of the bankruptcy of GM and its suppliers will announce crash. Starr pointed out that such a fate may have the construction sector companies and firms in the services sector with fuel.
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It is expected to sell the most profitable assets to the newly formed General Motors Company, where the governments of the United States and Canada have more than 72 percent participation to end today, said an official representative of the Ministry of Finance in the United States wanted to remain anonymous, cited by Bloomberg. Down GM in Detroit this morning to discuss plans for future operation of the company. There will be new views of the manufacturer of the product and changes in management. It is expected that the company veteranat Bob Luts, who was expected to retire this year, to be held in the managing authority. The transfer of assets to the new company gives the green light to GM to end production of brandove which are emblematic for the company to lay off nearly 6 Hill jobs and close 16 plants. Earlier the company’s CEO Fritz Henderson said it would reduce the management of more than one-third to accelerate decision-making.
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