DETROIT – Ford Motor Co., which used to make most of its money on trucks and sports-utility vehicles, is making a big bet on small cars.
The embattled company next month will launch a redesigned version of its Focus compact, and then offer a glimpse of new pint-sized model to follow about two years later.
At the Frankfurt auto show in mid-September, Ford will unveil a concept car called the Verve, a sporty subcompact that's smaller than the Focus. A model based on the Verve should arrive in U.S. showrooms in 2008 or 2009.
Ford, which posted a $2.8 billion operating loss in 2006, is hoping that spiffing up its small car line up with help the company back market share down the road. Like General Motors Corp. and Chrysler LLC, Ford has steadily ceded market share over the last 20 years as customers defected to foreign makes like Toyota and Honda. All three companies have had little or no success enticing those import buyers to come back to domestic vehicles.
But small cars often attract people who are buying new cars for the first time, and whose allegiance is still up for grabs.
On top of that, sales of small cars are on the rise, helped by high gasoline prices and increasing interest in high-mileage vehicles.
Small cars represent "a tremendous opportunity for Ford," spokesman Said Deep said. "It is a segment that is going to become very important to us."
This is a new way of thinking for Detroit. Until a few years ago, Ford, GM and Chrysler make big money selling large trucks and SUVs, and lost money on most passenger cars. So they put little effort into developing small cars and left the segment to the Asian auto makers.
Now, all three are enduring painful restructurings, in a bid to, among other things, be able to profit on all types of vehicles they make. They also have recognized the strategic value in small cars that can pull in first-time new car buyers.
The Verve concept is a sleek three-door hatchback with sculpted creases. Ford will show a second concept similar to the Verve at an auto show in China in November, and a third at the Detroit auto show in January. It plans to produce the vehicles for sale in Asia, Europe and North American between by 2008 or 2009.
Earlier this year, GM showed three concepts for subcompact cars and Chrysler one of its own. Their concepts as well as the Verve would greatly enhance Detroit's presence in the subcompact class. Right now only GM competes in that segment with the Chevrolet Aveo. Toyota has the top seller in the Yaris. The company has sold 54,000 so far this year, up 66% over 2006.
online.wsj.com
Friday, August 24, 2007
Ford Plans Small Concept Car
Auto insurers don't need the green light
Nobody likes paying their car insurance bill. But if you want to drive legally in Georgia, insurance is required. And across much of the state, you must have a car in order to get around.
It's a pretty good deal for car insurers. From year to year, they know that millions of Georgia drivers will have to buy their product. It's like shooting fish in a barrel.
So why are state lawmakers trying to make it easier for these companies to raise your rates?
House Bill 867 by Rep. Bill Hembree (R-Winston), would allow car insurers to raise your rates without getting "prior approval" from the state insurance commissioner's office.
Currently, because of prior approval, Insurance Commissioner John Oxendine has the authority to examine the company's finances, and the power to reduce or stop a rate hike altogether.
This safeguard is especially important in Georgia and in 46 other states where car insurance is required because it keeps companies honest when they put a price tag on a product they know you have to buy.
It also helps prevent race-to-the-bottom price wars that can lead to unpaid claims, and even bankruptcy for insurers who don't maintain appropriate reserves.
The Georgia Legislature set up the "prior approval" system 20 years ago when auto insurance rates almost doubled during the 1980s. As a result of the oversight and accountability, insurance rates fell and remained flat through the 1990s.
According to online independent insurance broker Insurance.com, Georgia now has the fourth cheapest auto insurance rates in the Southeast.
The average rates in Georgia dropped in 2005 and 2006, and have decreased by almost 5 percent so far in 2007.
However, if House Bill 867 passes, insurance companies will be able to hike rates whenever they want, without getting approval and without anyone looking over their shoulders to check their math.
When some state legislators tried to pass a similar bill in 2005, insurance lobbyists claimed that it would make it faster and easier for them to lower your insurance rates. But I've never known the insurance commissioner to delay or stop a rate reduction.
The fact is that Georgia has a thriving insurance market, one that boasts hundreds of carriers and very affordable rates when compared with other states.
The system is working; consumers are getting fair rates and insurers are competing with one another to sell you coverage.
Our leaders would be wise to not tinker with an approach that has proved so successful.
www.ajc.com
Thursday, August 23, 2007
Chronic Car Audio Inc. Acquires Auto Sound in Las Vegas
MESA, Ariz.--(BUSINESS WIRE)--Chronic Car Audio, Inc. (Pink Sheets: CCAU) of Mesa, Arizona, purchased the West Sahara Las Vegas location of Auto Sound. This acquisition gives Chronic Car Audio Inc. 2 stores in Las Vegas, Nevada and six in Arizona for a total of 8 stores. Revenues which were 6.4 million in 2006 are on target to reach 9 million in 2007.
Chronic Car Audio, Inc. (Pink Sheets: CCAU) is a Nevada Corp. incorporated in July 2003 and founded by its CEO Bren Blanchette. The Company is in the retail and install business of car stereos, car alarms, and mobile video entertainment. Chronic Car Audio, Inc. opened its first location August of 2003 in Mesa, Arizona and now owns and operates 6 locations in Arizona and 2 in Las Vegas, Nevada.
home.businesswire.com
Kara McGuire: Commencing lower premiums
Sending Junior away for college can bring some savings -- and not just because he can't skip home to do laundry and raid the fridge. Many auto insurers will lower if not eliminate the cost of coverage for a son or daughter who attends school far enough from home.
This and other ways to reduce your auto insurance premium should come as welcome news for parents of college kids. After all, it's back-to-school time, which means that buying books and decorating the dorm room may have you feeling like a walking ATM.
Dick McKenny, an independent insurance agent with Advance Insurance in Edina, suggests that clients review their insurance plans whenever there's a major life change. That's because some policies are better than others for your family's circumstances.
College students whose permanent address is still at Mom and Dad's generally will be covered by their parent's car insurance.
If a child is attending school more than 100 miles away, many insurance companies will lower the family's auto insurance premium by as much as 30 percent. The insurer figures that because the student is unlikely to be routinely driving the family car, the odds of an accident are less likely.
McKenny said some companies won't charge a penny to continue auto insurance for the family bookworm studying far away, whether in California or in Europe for the semester.
Have a student living at home while attending school or at the dorms in the next town away? Don't expect a rate cut, unless you can prove that your child's mileage is going to plummet.
What about situations in between? Take the case of Jim Stein's daughter, who is attending school 80 miles from the family home in Lindstrom. Stein, president of the Minnesota Independent Insurance Agents and Brokers Association, guesses that his insurance rate won't change because his daughter's not quite far enough away, but he plans to ask for the discount anyway.
Taking a car to school might not affect the family insurance costs. But it may raise rates depending on the cost of insuring the car in that particular college town, or perhaps in a state that requires more insurance. Children who establish residence in other states while at school would have to get their own policies.
But coverage from some insurer is a must. Insurance will help with any accident involving your child and a motor vehicle, whether it happens while in a friend's car or while crossing the street. Not only that, but having no insurance can cause trouble when applying for an auto policy down the road. Without proof of previous coverage "you'd pay more," Stein said.
There's another discount that parents shouldn't overlook: the good-student discount, given to high school and college students with a B average or better. McKenny said the break could be as much as 25 percent. He should know. His son recently dipped below a 3.0 grade-point average, and the family car insurance spiked by $200 every six months.
Some parents will pay the insurance only up to the good-student discount. If poor grades cause the premium to rise, the student's on the hook.
"I think it's a great idea to charge some of the insurance cost back to the children," Stein said.
www.startribune.com
A cheap car that will drive you crazy!
NEW DELHI: It’s the most talked about project in the auto industry right now. But there’s more to the Tata Motors Rs 1 lakh people’s car than just it’s eye-popping and jaw-dropping price tag. Despite the hush of secrecy surrounding the project, ET AutoMania spoke to vendors, suppliers, consultants and industry insiders to come up with details of what the car will pack in.
The Tata Rs 1 lakh car is undoubtedly the most talked about product that will hit the market in 2008. This despite the fact that the year will be choc-a-bloc with launches (see Local Launch) across the product spectrum . The company, understandably enough, has been tightlipped about the project but ET AutoMania spoke to vendors, consultants, analysts and auto industry insiders to cull information about this muchawaited people’s car. So here goes the details...
First things first... the Rs 1 lakh car will probably sport a 660 cc engine and crank out between 30-33 horses . And yes, it will offer both diesel and petrol drivelines. German Tier One component major Bosch is developing “a brand new” common rail direct injection (CRDi) solution that will be compatible with the Tata Rs 1 lakh car. “For the first time, Bosch is developing CRDi systems at that cost to suit the configuration of an extremely low cost vehicle,” said a component industry source. In June, Wolf Henning Scheider, president-gasoline systems division, Robert Bosch had announced the company’s intent to become “market and technology leaders” in the low price vehicle segment.
The company, he said, is supplying “alternators, brakes and gasoline and diesel en-gine management systems for the one-lakh car from Tata” and in four months, Bosch’s local engineers have “developed viable technical concepts and solutions” for the project.
That’s just the beginning. According to vendor sources, the Tata Rs 1 lakh car will be rear-engined (unlike most cars on Indian roads today which are front-engined ), four-door and four-seat . The strip down base variant will not offer air-conditioning or power steering, say sources. The prototype is ready and may world premiere at the Auto Expo next January.
Like the Indica, the new car is being designed by Italy's Institute of Development in Automotive Engineering (IDEA). And like the Indica, it will come in a cute egg shape with the same kind of rear light arrangement as the group’s first passenger car. And yes, it will sport a tall boy frame and may offer some “totally different” design cues like an aircraft-style storage space under the hood or a single wiper.
economictimes.indiatimes.com
AUTO RACING PACKAGE: Team owner Jack Roush doesn't foresee reduced costs with COT
Longtime team owner Jack Roush likes the idea that NASCAR's new Car of Tomorrow will cut down on the number of cars a team will need. But Roush doesn't go along with the idea that the COT will eventually be a big money-saver for Nextel Cup teams.
"The Car of Tomorrow, I think, will have a result in the reduction of the number of cars that are required to run a program,'' Roush said. "But, do I think that the cars will be enough less expensive to be a net save to the teams? No.
"I absolutely feel that there will not be a net save to the teams based on the amount of money that goes into the cars to get the chassis the way that NASCAR wants it for its inspection; then, past the initial inspection, the amount of sheet metal that has to be replaced to fix a relatively small problem.''
He said that even the most minor damage to the cars would require a complete body "because when you get the kind of shot into the body that causes a snout to bend, you almost always have some amount of distress that is put into the rest of the car.
"And, when we had reasonably wide-open, or relatively wide-open tolerances, you were able to let the tolerance be taken out by the effects of the crash. You can't do that now.''
Roush said he would be all for somebody stamping out a complete steel body that could just be welded onto a chassis.
"The amount of precision that's required to get the sheet metal in order to pass the tech line is unprecedented in terms of what we've had (in the past),'' he added. "For the time being, we anticipate at least a 70 percent to an 80 percent increase in labor that's required to keep these cars ready to go from one race to the next.''
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DUTCH DEMO: Champ Car rookie Robert Doornbos was the big attraction this week during the Bavaria City Racing demonstration on the streets of Rotterdam in his native Holland.
The Minardi Team USA star drove a 2006 Lola Champ Car in front of an estimated 500,000 people, turning increasingly faster laps on the specially prepared street circuit.
"There was an unbelievable reaction from the fans,'' Doornbos said. "Initially, I went round the course waving to the fans but, when I got in the Champ Car, I really smoked it up right the to the end. They gave me brand new tires, but you could see the wire poking through the rubber by the time I got to the finish.''
Although it featured more than just Doornbos' Champ Car demonstration, the Rotterdam event served as an introduction to the series before it visits the Zolder, in neighboring Belgium, and then returns to Holland for a race in Assen over the next two weeks.
"After I jumped out, I had the chance to meet a lot of the fans, and it really was incredible,'' said Doornbos, who is second in the season points behind Frenchman Sebastien Bourdais. "The whole day was fantastic for Champ Car. It is a really popular series on television and the fans are looking forward to seeing the series live in Europe.
Doornbos, who has two wins in 10 starts this season, trails three-time series champion Bourdais by 37 points.
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PASSES TEST: Just days after winning an Indy Pro Series race at Kentucky Speedway, Super Aguri Panther driver Hideki Mutoh passed his IndyCar Series rookie test at Chicagoland Speedway.
The Japanese driver will make his IndyCar debut in the final race of the season, Sept. 9, at the Joliet, Ill., track. He will join current Panther drivers Vitor Meira and Kosuke Matsuura in a three-car effort for the season finale.
"It was a very productive two days and I was able to pass the rookie test,'' Mutoh said. "I was able to learn how the changes affect the car and tried different car balances too. I am very happy that we were able to practice pit stops and I now know what it's like.''
Team owner John Barnes, who has developed young IndyCar talent before, including former series and Indy 500 champions Sam Hornish Jr. and Dan Wheldon, was especially impressed.
"Hideki did unbelievably well in the test,'' Barnes said. "He continues to impress everybody at Panther with his ability to adapt to these race cars and our style of open-wheel racing.
"We tested a lot with him over the two days at Chicagoland. He didn't get to run in traffic, because there wasn't any, but we worked on pit stops, starts, restarts and in- and out-laps. We're training him to be a champion, and that takes a lot more than just going fast.''
Mutoh, who now has two wins this season, is ranked second in the Pro Series championship, trailing series leader Alex Lloyd by 98 points.
sportsillustrated.cnn.com
Auto Racing Local: Young racer tops at PPMS
Kyle Lukon, 17, has dominated the Pittsburgh's Pennsylvania Motor Speedway Crate Late Model division since he won his career first feature June 16.
The Burgettstown area youngster's biggest win to date -- is fifth -- came Saturday when the second year driver won the Jook George Memorial for the Crate Late Models at PPMS.
"I've been waiting for this," said the youngest winner of the Jook George Memorial. "Last year, I came close to this. I almost had the same thing happen, I almost caught [eventual winner] Tommy Shirnhofer in lap traffic. [Saturday], I had to chase down Leo Stadelman."
Lukon leads Stadelman by 40 points with five weeks remaining.
Hitting his stride
Tommy Beck likes Motordrome Speedway ... a lot. Beck of Jeannette won his second late model feature in a row at the Smithton, Pa., paved oval including the 100-lap Mid-Atlantic Asphalt Racing Alliance event.
"The pavement car has been really good, really fast," Beck said after competing on the dirt at PPMS recently.
Beck who races his own car at PPMS on Saturdays says the Bobby Betts owned pavement team is really performing well.
"We've got everything together at Motordrome," Beck said. "With the car being so fast at the end of the season, I am really looking forward to next year."
USAC returns
For the first time in 20 years, USAC Non-wing Sprint Cars will compete at Sharon Speedway beginning at 6 p.m. Saturday. The last time USAC (1987) visited the Hartford, Ohio, oval it was a half-mile configuration and Kenny Jacobs was the winner.
The track now is a 3/8-mile layout that will be new to all of the USAC driver's expect Ricky Stenhouse Jr., who competed in the 50-lap winged sprint car race Aug. 14.
Stenhouse and Levi Jones, the sprints points leader, drivers for Tony Stewart Racing, will be competing at two tracks over the weekend. Jones will fly in from Wisconsin tomorrow morning after competing in the USAC National Midget Car Series. After the Sharon race, both drivers will head to Wisconsin for a Midget race Sunday.
Lugnuts
Chris Gleason and his co-driver, Bill Auberlen, won the KONI Challenge GS race at the Grand Prix of Trois-Rivieries in Quebec, Canada. It was the second victory of the year for Gleason of Johnstown in a BMW M3. ... Adam Kostelnik again made two trips to Motordrome's victory lane by winning in the modifieds and the street stocks. ... Jayme Beck, the wife of Motordrome late model racer Tommy Beck, returns to the class after a hand injury put her on the sideline. Beck will drive the number 40 for Preston Miller of Breezewood, Pa., at Holland and Lake Erie Speedways later this season in MAARA events.
Mercer Raceway Park will run the Bill Emig Memorial tomorrow night with a $2,000-to-win, 30-lap feature. Also at MRP will be a 25-lap feature for the sprints paying $1,500 to win. Mercer will be closed Labor Day weekend and return to action Sept. 8 with the 19th Annual Western PA Sprint Championship.
With the Labor Day Holiday weekend right around the corner, several local tracks are featuring special events. The MACS Late Models and O'Reilly Sprint Cars will take center stage Aug. 31 at Lernerville. The Sonia Bullis Memorial sprint car race rained out in 2006, and Scott Bonnell of Fairview, Pa., the inaugural event in 2005. ... Tri-City Speedway in Franklin, Pa., will have the World of Outlaws Dirt Late Models in the Oil Region Labor Day Classic Sept. 1-2 with 50-lap features paying $10,000 to win each night.
www.post-gazette.com
Now, Nissan joins small car race
NEW DELHI/BANGALORE: Nissan is the latest car maker to join the small car bandwagon in India. While Renault gears up to launch its small car, possibly in collaboration with Bajaj, its sister company Nissan will hit the markets with the offering in the A2 segment by 2009-2010. Renault has a 44% stake in Nissan and both are considered part of the same group with a common management.
Nissan is likely to launch one small car and a mid-size sedan in the domestic market in the next few years. While General Motors has already launched its small car Chevy Spark, Ford, Honda and Skoda are expected to soon launch their offerings in the segment.
According to auto components industry sources, Nissan India’s small car model would compete in the A2 segment as defined by automobile body SIAM, basically the Zen, Alto, WagonR, Swift. The model will sport a 1.2-litre, three-cylinder petrol engine and would be able to enjoy excise duty benefits. Nissan’s small car is code named W02A and is expected to cater to the Indian market initially.
Likely to hit markets by 2009-1010, the car would be manufactured at the Chennai plant, which is a facility being set up in collaboration with sibling company Renault and home-grown M&M. This car is expected to be priced in the Swift and Getz price band. When ET contacted, Nissan India marketing & sales director Neeraj Garg confirmed the development.
“When we start production at our Chennai plant in 2009-2010 we will come out with a car in the A2 segment. We have not decided how many cars we plan to launch, but we will decide that after evaluating the market response,” he said. Mr Garg added that Nissan India might launch a model to take advantage of the excise duty benefits wherever the auto maker can.
However, sources add that the company may plan to bring in more than one offering in the small car segment. “It is likely that the product range in the Swift/Getz segment will have more that just one model,” a source said.
Sources also indicate that Nissan will launch a sedan for the Indian market. “With a 1.5-litre engine, Nissan’s sedan will also hit markets in the next three years,” source added. While the car is being designed in Japan, it would be based on feedback from India.
The small car offering is likely to be produced both for the domestic and the international markets. “Initially we will produce for the domestic market from the Chennai plant. But we will evaluate the situation as we go ahead, post the launch. Just like our Maruti tie-up, we could explore other ventures in the Indian market, but we have not decided anything so far,” said Mr Garg.
In February, Mahindra, Renault and Nissan had announced that they would set up a plant in Chennai with an investment of Rs 4,000 crore. The plant will produce models for all three partners and has a capacity of 4 lakh units. Besides producing models for all three, the plant also has a power train facility for Renault and Nissan. Both Renault and Nissan are known for their technically superior and successful small cars globally, some of the popular ones among them being Clio and Twingo.
economictimes.indiatimes.com
Chery celebrates millionth car
After seven years and nine months, China's Chery Automobile has become the first Chinese automaker to produce its millionth car in this short time span.
The announcement of this milestone was made Wednesday, Xinhua reported. The millionth car is an A3 four-door hatchback, which was first unveiled at the Beijing auto show in 2006 and is expected to go on the market later this year. The car uses Chery's own-brand engine that was made to meet environmental and safety standards in both the U.S. and European markets, the report said, refuting claims that Chinese manufacturers do not have the necessary technology to meet the standards on their own.
The firm was founded in 1997, and started production in 1999. Chery manufactured its first 500,000 vehicles in about six years and took only the next 17 months to complete the other 500,000, the report said.
The auto maker appears to be operating at a breakneck pace, especially when compared so with Sino-German automaker FAW Volkswagen, which made its first millionth car after 13 years of production. Shanghai GM and Guangzhou Honda took over eight years to make their first million cars, Xinhua reported.
Chinese Vice Premier Zeng Peiyan wrote to Chery in a congratulatory letter, saying the car maker has distinguished itself as China's self-developed auto brand at home and abroad. "Taking the millionth car as a new starting point, Chery should further innovation on technologies and management and upgrade its products and service."
This is just what the ambitious car exporter intends to do.
At present, Chery has the capacity to produce 400,000 cars, 400,000 engines and 300,000 transmission cases a year. The new plant set to being operating in October this year will increase this capacity by another 250,000 to 300,000 cars a year. Chery intend to increase its annual output to hit a target of one million cars by 2010, media reported.
While Chery's market share for the domestic market increased to 7.2% in 2006, from 6.7% in 2005, the company intends to expand further on global markets.
To date, data shows that China's top exporter has exported 153,694 cars to 56 foreign countries, and it plans to raise its exports by 800% to 400,000 annually by 2010.
The car maker has also formed partnerships with foreign auto markers such as Fiat and Chrysler. Chery's president Yin Tongyao said this move will "help Chery build indigenous cars with international competitiveness."
www.chinaknowledge.com
Ignoring CAR is driving out consumers - Skandia
However, a small chunk of respondents to the study admitted models such as CAR would make them less likely to see a financial adviser.
The firm says the results of the study prove Customer Agreed Remuneration (CAR), as suggested in the Retail Distribution Review (RDR), is possibly the healhtiest way forward for the industry.
The remuneration model calls for advisers to make clear how much their advice costs at the outset.
Skandia says the results suggest CAR “could widen the appeal of independent financial advice to a larger section of society”.
Of the 1,000 people questioned, 22% say CAR would in fact make them less inclined to see an IFA, while 38% believe it wouldn’t make a difference.
The research also shows customers would not like to pay a straight fee, with 58% saying they would prefer the adviser payment to be made from their investment.
Skandia says the CAR proposal should be embraced by the industry.
Billy Mackay, Skandia UK marketing head, says it is important remuneration between advisers and clients is clearly established.
“This gives advisers an excellent opportunity to demonstrate the value of the advice and service they provide to their clients,” he says.
“In our experience, this evolution towards CAR options is already happening and the FSA should be wary of unnecessarily increasing regulation to force the pace of change.”
A number of provider firms appear to have foreseen the study's findings.
Zurich's investment brand Sterling yesterday announced it was offering a factory gate priced - similar in principle to CAR - version of its investment bond, while Prudential launched a comparable vehicle a fortnight ago.
Zurich already offers factory gate models across its entire pre and post retirement pensions offerings, while Winterthur – formerly Provident Life – has used a factory gate system on its pension products since 1992. Clerical Medical is also in the factory gate arena.
Mackay says giving customers understanding on the cost of advice and a range of payment options will encourage them further.
“There is a real benefit in having a choice of remuneration structures in the market and allowing advisers and their clients to decide which one suits individual circumstances,” he says.
“Ultimately it is about ensuring that advisers and consumers have informed choice.”
www.ifaonline.co.uk
Tuesday, August 21, 2007
Auto racing technology accelerates
Cars roar, mouses click.
Iowa race tracks and drivers — from the deepest grassroots to the most high-profile levels — are increasingly finding ways to use technology to get the word out about their sport.
A growing number of racers, such as Joe Zadina of Corning, adorn their dirt cars with cameras in an effort to convey to sponsors, friends and the world - via Web sites such as YouTube - the experience of powering a stock car through Iowa's rich dirt.
"When you're sitting up in the grandstands, the view's a little different than when you're in a race car," said Zadina, who drives in the pro streets class at Adams County Speedway.
"I mounted a camera on my helmet to kind of show (car owner Ross Griffith) what it was like to be in the car."
Race tracks such as Knoxville Raceway have so embraced Internet technology that this year 40 percent of the 90,000-plus tickets sold for the Knoxville Nationals sprint-car gala were sold online.
Three years ago, that number sat at zero.
On the national stage, meanwhile, racing continues to climb the high-tech ladder.
NASCAR and the Indy Racing League offer live Webcasts of select events.
ESPN's coverage of NASCAR includes a "Draft Cam," a view that graphically illustrates how "clean" or "dirty" the air is for a car in a race.
The message for racetrack promoters and racers alike is clear: "Ignore these developments at your own peril," said Iowa Speedway vice president and general manager Craig Armstrong.
The Joe Show
When Adams County Speedway began offering drivers the option of renting an in-car camera last season, Zadina thought he'd search for a more permanent fixture.
After some Internet shopping, he found his best deal: an inexpensive digital video camera and memory card.
Total cost? About $175.
Zadina started rolling - sometimes with less than perfect results.
"The first time I had it in the car I pointed it forward, went down into turn one of the first lap and caught a big clump of mud on it," he said.
"You couldn't see anything. But it's been interesting. I only do it when I have time to mess around with it."
Zadina said he's posted five or six clips on YouTube over the past year for the world to see.
Dozens of videos from Iowa racetracks - from Corning to Donnellson to Newton - can be found on the popular video-sharing site.
Beyond the exposure, Zadina said, there are practical benefits to chronicling races.
"I haven't ever done it, but if I wanted to see what my suspension is doing when I'm racing, I could mount (the camera) underneath the car and point it toward my right front tire or the rear end," Zadina said.
"Everything happens so fast sometimes you can't remember it when you get out of the car. But come Sunday morning, when you've got nothing to do, you can watch your race and say, 'Oh, that's how come that did that.' "
Knoxville live
Want to know who's leading, who's crashed, who's blown a motor during events at Knoxville Raceway?
Just log on to the Internet, type in knoxvilleraceway.com and click on results.
There, in real time, are the finishes for everything from time trials to heat races to main events.
Fans clearly appreciate the effort - at the track and away from it.
Knoxville director of business development Bruce Neimeth said the record for users concurrently perusing the results page during a race is 115,000.
That's more than the total attendance of the Knoxville Nationals, which draws between 90,000 and 100,000 fans each August.
"A key thing is how long they stay online," Neimeth said. "Wednesday (of Nationals) last year was the longest we ever recorded, 29 minutes. And we know why."
Reason one, they say: Knoxville, as one of the premier dirt tracks in the world, enjoys global cachet.
Reason two: It's the Nationals, but regular weekend races reap impressive numbers as well, with anywhere from hundreds to several thousands of people on the site at a given time.
Those eye-popping numbers also raise the eyebrows of Knoxville race director Ralph Capitani.
"I'm not convinced it doesn't keep people away from the race track," said Capitani, who has seen crowds dwindle in recent years but rise somewhat this season. "But at least they're interested and they're going to come some day."
Sorting through text results is one thing. Being there is another.
Neimeth said the online ticketing system allows fans to select specific seats, not just a section.
This Nationals, he added, four out of every 10 tickets to the four-day show were sold online with the click of a mouse - and a seamless, secure credit-card transaction.
"It's instant action and reaction," Neimeth said.
In order to stay viable as an entertainment venue, Knoxville understood the value of immediacy - and invested $235,000 to upgrade its Web site over the course of about three years.
Future plans include exploring Web-casting and possible advertising, given the number of visitors Knoxville's Web site attracts.
The Internet push at Knoxville is rooted in marketing strategy: Skew younger, but maintain and augment the value of the product.
"Kids don't read the newspaper," Capitani said. "They do read the Internet. The ultimate goal is to get on (a site) that is frequented by teens, which we haven't done yet, but I think that will help."
And Knoxville fans, hold on to your Nationals hats.
Capitani foresees a time when TV for an event like the Nationals may change as well.
"I think the Knoxville Nationals, down the line somewhere, is going to be pay-per-view," he said. "It's not going to sit out there free for everybody."
Boone's on board
For years, the prospect of Boone Speedway producing a Web site has been a question of "if."
Now, finally, it's "when."
Robert Lawton, promoter of the track that hosts the IMCA Super Nationals on Sept. 3-8, said he hopes to have a site launched within a month.
"We're five years behind the curve," Lawton said. "There's no question we should have a Web site, at least of a minimal type. We're working on it."
Lawton added novelty races and car-giveaways to several of his Saturday shows to attract more fans this season.
The Web is next - and the plans aren't piecemeal.
"I'm not so certain a blog isn't the next answer," Lawton said, adding his goal for the Web site, once operational, is interactivity. "I'm not so certain we're not going to have to hire somebody to run a blog for us."
Hiring new people, of course, requires surplus money - one of the stumbling blocks of racetracks with spartan Web sites, or none at all.
Lawton is blessed with a son well-versed in computers.
He's admittedly not so tech-savvy, but never shied from the computer-enhanced bandwagon.
Nearly 20 years ago, he invested in an Apple IIE and hired someone to manage software so he could run his promotion business, which then included the state fairgrounds in Des Moines.
"We were running 125-130 races a year at that point in time," Lawton said. "We couldn't manage the business without it."
Spreadsheets and floppy discs were daunting enough.
But live-streaming, Web cams, interactive blogs ...
"At my age, it's overwhelming," Lawton said.
Yet not impossible, so Lawton figures why not aim high?
"We'll get there," he said.
High-tech from startup
Iowa Speedway in Newton spared no expense - or technological advancement - when building its facility more than two years ago.
Two key elements were integrated into the plan: Becoming the first track to include next generation SAFER Barriers into its original construction, and adding cameras embedded in the track to offer fans a unique view of racing from below.
"Everything about that track is state-of-the-art," said the facility's vice president and general manager, Craig Armstrong. "That's one of the ways we wanted to differentiate Iowa Speedway from other racetracks."
The SAFER Barrier, as its name implies, makes racers safer. Instead of a concrete wall, the Barrier's high-tech energy-absorbing foam envelops the track.
The TV cameras enhance the fan experience at the track and at home.
Iowa Speedway also is continually looking for ways to augment its presentation, online and on-site.
Racing's a business, and fans stand at the center.
"It's up to us now to make this successful, make it work," Armstrong said. "To bring in greater and greater numbers of people to watch our events and procure better quality of events for the future. It's all up to us at this point, but the raw material, the grist, is there."
desmoinesregister.com
New Mercedes C-Class review
For the new Mercedes C-Class Saloon range there is the choice for four and six cylinder engines, petrol and diesel options, with prices starting at £22,937 and rising up to £35,577.
On top of the engine options the new C-Class offers customers the option of a different style of front grille as a distinguishing feature.
In the SE and Elegance body styles the new grille shape, which I do not like, has a bonnet mounted Mercedes star and for the Sport line there is a huge centrally mounted Mercedes star in the grille bars.
I think the previous generation C-Class, circa 2000 to 2007, with its elegant low-line bonnet and four eyed- face, referring to the headlights either side of an elegant grille, was much prettier. Thanks to front end crash safety and pedestrian impact safety requirements, a higher bonnet line is needed to accommodate energy absorbing air-space in the engine compartment above the power unit.
We now have a politically correct bland front end which is not unique to Mercedes; it could be applied to any other car from Korea to the USA.
Styling apart I think the new C-Class is a huge improvement in all other areas. The driveability is the biggest improvement. No longer is it outshone by the BMW 3-Series or Audi A4. It is rewarding for even the most sporting of drivers. New technology handling, suspension, braking, safety and stability packages have done wonders for the car.
There are too many to mention in detail but their titles will paint the picture for you on how advanced the new C-Class is.
Adaptive Braking, Intelligent Lighting, seven airbags, active head restraints, anticipatory occupant protection with Pre-Safe and Agility Control are included as standard or as an option. These are in addition to new suspension and steering systems with cleaner and more powerful engines.
My test car was one of the projected best selling models, the C 220 CDI Sport Saloon costing £28,002 on the road and featuring items such as automatic climate control, rain sensing wipers, automatic lights, stability control and electrically operated windows ands door mirrors are included.
Add in some must-have options as company and business car owners and user do, such as the uprated sound system, satellite navigation, the stunning panoramic sunroof, plus a few more bits and bobs and the total climbed to a hefty £34,982.
The Sport specification has AMG wheels and body kit together with a firmer and lowered suspension. Surprisingly the sports suspension didn’t compromise the ride comfort although the road noise intrusion was higher than expected from the wide low profile tyres.
Sports models also feature metallic facia inserts and silver dial surrounds and these brighten up a somewhat conservatively styled interior. The cabin says ‘executive’ car but it really doesn’t feel that special. It is beautifully put together but the overall quality is missing.
On the plus side there is really good headroom front and rear, lots of rear legroom and the largest boot in its class. A neat touch is the electrically operated cover in the facia which slides back to reveal the information display. All the controls are logical but the foot-operated parking brake is not to my taste.
The C 220 has a 2.1-litre turbocharged high-pressure common rail, four-cylinder diesel engine mated with a six-speed manual transmission. Power output is a healthy 170hp but maximum torque is a high 400Nm delivered from 2,000rpm. Whilst the top speed is an impressive 142mph and 0-62mph is covered in just 8.5 seconds it is the low CO2 figure of 160g/km and combined fuel economy of 47.9mpg that will impress hard taxed company and business car users the most.
For the record during a week of heavy motorway driving the C 220 CDI hovered between 50 and 55mpg and this only lowered to an overall average of 49.7mpg after prolonged periods of stop-start in town traffic. Very impressive.
The engine was also really responsive, willing to work, it revved freely and quietly and the torque made it really easy to drive at lower speeds without the need for constant gearchanging.
So in most areas, other than exterior front end styling, the new C-Class is a real ‘A lister’.
MILESTONES
Mercedes-Benz C 220 CDI Sport Saloon
Price: £28,003 (£34,982 as tested)
Engine: 2.1-litre, four-cylinder direct injection, common rail turbodiesel, 170hp, 400Nm of torque at 2,000rpm
Performance: 142mph, 0-62mph 8.5 seconds, 47.9mpg (49.7mpg actual), CO2 160g/m, VED Group D £140 Insurance group 14E, 22% tax
For: Roomy interior, excellent ride quality, agile and well balanced handling, strong engine performance, economical for fuel
Against: Brash non-descript front end styling, cabin quality does not feel premium class, expensive when must-have options are fitted, foot operated parking brake.
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Top Cars for College Students; CarMax and Driver's Edge Recommend Best Vehicles for Safety and Reliability
If your college student's back to school list includes a car, you will want to know which vehicles are recommended for young drivers. To help students and parents find the best car, CarMax, Inc. , the nation's largest retailer of used cars, and Driver's Edge, a national nonprofit organization providing youth driver education, have teamed up to recommend the top cars for college students.
"It's pretty tough to come up with a list of cars that will satisfy both parents and students," said Steve Tepper, chief operating officer of Driver's Edge. "Issues of looks, cost, safety, and performance don't always line up, but there are some great cars out there that fit the bill safety-wise while still being a cool car to drive."
"Typically, parents' top priorities when looking for a vehicle for their student are price, reliability, and safety, while young people may be more interested in style, features, and performance," said Ron Costa, regional vice president of purchasing for CarMax. "We recommend conducting online vehicle research first and then finding a car retailer that provides a transparent, customer-friendly, and easy car buying process."
This year's top cars recommended for college students that fulfill both the parents' safety and reliability demands and the young drivers' requirements for looks and performance include (In alphabetical order by manufacturer. Anti-lock Braking System (ABS) is standard unless otherwise noted):
-- Audi A4
-- Dodge Caliber (models with optional ABS)
-- Honda Civic
-- Hyundai Sonata
-- Kia Optima (models with optional ABS)
-- Pontiac G6 (coupe or sedan with optional ABS)
-- Toyota Corolla (models with optional ABS)
-- Volkswagen Jetta
-- Volkswagen Passat
-- Volvo S40 (four door sedan)
"When deciding on a vehicle for a young driver, safety has to be a top consideration," said Jeff Payne, president and founder of Driver's Edge. "Motor vehicle collisions are the leading cause of death for people under 24, outnumbering the combined deaths resulting from drug use, guns, and other violence." Driver's Edge recommends that parents review crash-test ratings from the National Highway Traffic Safety Administration (NHTSA) when considering any vehicle, along with the advice and ratings of the Insurance Institute for Highway Safety.
The cars on the list are recommended only for drivers who have at least two years of practical driving experience. (Smaller cars would not be on a list of cars recommended for true novice drivers.) Driver's Edge and CarMax used the following criteria to select the recommended cars:
1) Each of the selected models scored at least a four star rating from
NHTSA for both frontal and side impact protection in each of the last
four years. Exceptions are the Dodge Caliber and the Pontiac G6, each
of which have only been available since 2007 and 2006, respectively.
2) Each car offers an array of active safety features as either standard
or optional equipment (e.g., anti-lock braking systems, electronic
stability control, traction control, etc.).
3) Cost, reliability, and vehicle styling have been considered, but safety
considerations weighed more heavily in determining the cars to
recommend.
"It's not just about choosing the 'right' car," Payne said. "There is no five-star rating or safety device that can take the place of a well educated driver. A lousy driver can make even the safest of vehicles a bad place to be. That's why we also recommend that all drivers seek out the proper training and learn the skills needed to help them stay safer on the highways, whether it's attending a Driver's Edge event or investing in a quality performance driving school."
money.cnn.com
Counties review vehicle policies
As Macomb, Oakland and Wayne county governments struggle with severe budget woes and threats to services, they continue to provide hundreds of take-home vehicles and car allowances to higher-level employees.
But with the budget concerns -- and agitation among rank-and-file employees being asked for wages and benefit concessions -- members of each county's board of commissioners are examining whether it's time for some workers to turn in their keys.
Most of the vehicles are to be used only for commuting to work and government business.
But critics say the counties could save taxpayers thousands of dollars by having employees request reimbursement for the miles they drive for business rather than have the county pay for vehicles, gasoline, insurance and maintenance of take-home cars.
"The average worker in nongovernment industry doesn't have a car to drive back and forth to work," said Rose Bogaert, chairwoman of the Wayne County Taxpayers Association. "I've got to feel they're pretty upset paying for someone else to get that benefit when they themselves can't."
Aspects of the counties' vehicle policies include:
• Every countywide elected official receives either a take-home vehicle or a car allowance, which is a flat monthly payment to cover transportation costs.
• In Oakland County, the six countywide elected officials, their top 11 deputies and the chairman of the Board of Commissioners all receive take-home cars that have few restrictions on personal use.
• Wayne County hands out taxable annual car allowances nearly all ranging from $4,800 to $6,000, to 143 employees -- mostly the appointees of elected officials -- at a cost of $735,000 per year. Fourteen of the 15 county commissioners each get $6,000.
• In Macomb, the road commission provides take-home vehicles to each of its part-time road commissioners that can be used for personal travel. They also receive taxpayer-funded car washes. A take-home vehicle is considered a noncash benefit and taxed as if it were personal income at about $3 for each day it is used.
Oakland County
County Executive L. Brooks Patterson and some commissioners agree that their policy could be tightened.
In Oakland County, 228 employees receive take-home cars, the majority from the Sheriff's Office. Another 71 workers with the road commission get take-home cars.
The county's fleet, which includes about 45 pool cars that can be signed out for short trips, cost $3.1 million in the 2005-06 budget year. The county spent $617,614 that budget year in mileage expenses for employees who used their own vehicles for county business, reimbursing at a rate of 48.5 cents per mile.
Employees must report any personal use of the vehicles, which is then reported as taxable income. No one has turned in any personal mileage use so far this budget year, which ends Sept. 30.
Patterson said there is room for improvement in the county's take-home car policy, which hasn't changed since 1993.
"I wouldn't be surprised if some people lose their cars, not just in my office, but across the board," said Patterson, who drives a 2007 Chrysler 300 provided by the county.
The Oakland Board of Commissioners is holding budget hearings through the end of August and has questioned whether so many people should have vehicles. Commissioner Mike Rogers, R-Farmington Hills, said he hasn't heard any compelling evidence yet to begin ending car privileges for the employees.
But Commissioner Tim Greimel, D-Rochester Hills, isn't so sure that so many people need county cars.
"Especially during these difficult economic times, we have to make sure that the county is spending taxpayer dollars as prudently as possible," he said.
Wayne County
Besides providing car allowances, Wayne County also has 105 employees who receive take-home vehicles, mostly for those in the Sheriff's Office and roads division. In the Sheriff's Office, all 47 of those with take-home vehicles are sworn officers who respond to emergencies. Six of them, however, spend the majority of their time on administrative duties.
But Robert Dickerson, chief of administrative operations, said they also respond to situations on a 24/7 basis and attend work-related functions after business hours.
In the current budget year, Wayne County spent $130,789 to buy four take-home vehicles and cover lease payments on five others. Taxpayers also cover the cost of gasoline and maintenance for take-home vehicles -- $207,795 in the 2005-06 fiscal year for the 58 non-Sheriff's Office vehicles. Insurance is handled through the county's self-insurance policy.
Wayne County Executive Robert Ficano said it's cheaper to provide either vehicles or a fixed car allowance to certain employees than to have them claim mileage.
Ficano said his administration has cut the number of take-home vehicles in half since 2002.
"We're trying to get to running this like a business," said Ficano, who drives a county-issued 2007 Cadillac DTS. "It's been very frugal."
But Wayne County Commissioner Bernard Parker, chairman of the commission's budget committee, said the county could cut its vehicle costs in half if it eliminated all take-home vehicles and abolished car allowances, in favor of mileage reimbursement.
Parker, D-Detroit, has proposed the change, but Ficano opposed it because he says the current system is cheaper, Parker said.
Only Commissioner Kay Beard declines the $500-a-month car allowance available to the 15 commissioners, saying she instead claims $100 to $200 a month in mileage reimbursement.
"$500 a month? That's not anything I want to be a part of," she said.
Beard, D-Westland, said county employees who must respond to emergencies should receive take-home vehicles, but she would like to see those not in that category drive their own cars and get reimbursed for mileage.
Macomb County
Macomb County provides 33 take-home vehicles to officials and 15 to the road commission. The county reimburses employees using personal cars for business 44 cents a mile.
Macomb's road commission spent $300,000 for take-home vehicles for its 15 employees since 2002, including spouses Michelle and Bob Mykytiak, who are the finance director and maintenance superintendent, respectively.
While some of the road commission's employees have cars to respond to road emergencies, others are office workers, like administrator Paula Mack-Crouchman, who drives a 2003 Pontiac Bonneville.
Mack-Crouchman said she often drives during the day for county business and must be available in emergencies.
"It's not just used to drive back and forth to work," she said of the car. Her husband, William Crouchman, receives a $3,348-a-year allowance for driving his own car as chairman of the Macomb County Board of Commissioners.
Macomb Road Commissioner Tom Raymus said the cars are bonuses to attract good employees.
"People in the corporate world get cars as perks all the time," Raymus said. "That's how they get good people."
Macomb County began reviewing its car policy last month, but commissioners said they don't expect to reduce the fleet.
In Wayne County, County Commission budget chairman Parker said it's unlikely the policies will change before the commission finishes the 2007-08 budget this month.
www.freep.com
New BMW M3 review
The first M3 was an out and out racing car but demand from customers for a road and race version has evolved the M3 through four generations of models to the latest Coupe which goes on sale in September.
The new M3 Coupe may not be such an ‘edgy’ difficult-to-drive-on-public-roads car as the original, but it is now far more refined, it’s faster for acceleration, more responsive, totally more civilised anf the car you can drive day in, day out, on public roads and then take to the race circuits for use at track day events.
Some motoring pundits will say the M3 has gone soft, it hasn’t it is now more in keeping with what the real world of high performance, useable sporting cars is all about.
The power and acceleration is awesome, the rear wheel drive and 50-50 weight distribution gives it superb handling, the steering is sharp, the suspension is absorbing and compliant, everything a modern day car needs to be for daily use.
Then you push the ‘M’ button and everything gets even sharper and you have a track-day car ready for use. All you have to do is install your individual various motorsport settings in the MDrive Manager, a bit like personal preferences for a computer, push the ‘M’ button and the M3 is a track car. The M3 is two cars in one, both extremely good.
Inside the two-door car things are much the same as any other 3-Series Coupe but with the wizardry of the ‘M’ departments attention to sporting detail.
More substantially bolstered sports seats hold the occupants firmly in place through high speed cornering, the instruments look race-bred and the hallmark ‘M’ series of warning lights that go out as the engine warms up indicates this is no normal road car.
The all-aluminium V8, 4-litre, high compression, normally aspirated petrol engine produces 420hp at 8,300rpm, it loves to be revved. The driver just needs to learn to use the extra 2,000rpm to get the optimum performance out of this unit.
Push the accelerator and then push it some more for the ultimate M3 experience. For the record it sound fantastic as well. The 400Nm of torque is available from 3,900rpm up to over 6,000rpm before it tails off so not only does the M3 have speed it has real ‘grunt’ as well.
Although the media first drive included driving sessions on a racing circuit in France, where the M3 was impressive and durable, it was the fast, traffic free winding roads around Pau that the M3 excelled.
Even in towns and heavier stop-start traffic, the M3 coped really well; it is not a bit temperamental in such an unfriendly environment. The steering is not too heavy at low speed, the clutch is not heavy to use and the six- speed gearchange is slick and precise to operate.
The capability for the M3 Coupe to provide fast, safe, responsive and above all comfortable driving was proved. In all areas, other than fuel consumption, a little over 14mpg at worst, 21mpg at best with an average of 18.5mpg overall, the M3 Coupe is a new performance car classic.
MILESTONES
BMW M3 Coupe
Price: £50,625 (as tested £55,500)
Engine: 4.0-litre, V8, normally aspirated petrol 420hp, 400Nm of torque
Performance: 155mph (electronically limited), 0-62mph 4.8 seconds, 22.8mpg (18.5mpg actual), CO2 295g/km, VED Band G £300
Insurance group: 20
For: Looks, awesome performance, refinement, quality, easy to live with, good space for four people with boot size to match.
Against: Fuel thirst
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Friday, August 3, 2007
Bugatti Sports Car
BMW Sports Car
Citroen Sports Car
Honda HSC Concept
Mercedes Concept Car
Police Announce Breakup of Extensive Car-Theft Ring
It was a far-flung, multimillion-dollar luxury auto theft and fencing ring, the police said, the largest New Jersey had ever seen. A gleaming new Mercedes-Benz or BMW, sitting in the Port of Newark and destined for a driveway in the suburbs, would be stolen, stuck in a container, shipped across the ocean and sold — at up to double the retail price — on the streets of faraway cities like Cairo.
The cars included new models, stolen rentals or vehicles carjacked from towns throughout northern New Jersey. The car thieves shipped them — often with what appeared to be the proper paperwork — to Togo, Ghana, Jordan, Egypt and Greece.
“The scheme was elaborate, extensive,” the state attorney general, Anne Milgram, said at a news conference where the authorities announced eight arrests and the dismantling of the operation.
During the three-month investigation called Operation Auto Export, Ms. Milgram said, more than 72 cars were recovered by the authorities — including Mercedes-Benzes, BMWs, Audis, Hummers and Land Rovers — valued at more than $2.5 million. Over the years, the officials said, an untold number of cars were stolen and sold.
Col. Joseph R. Fuentes, the superintendent of the New Jersey State Police, which led the multistate investigation, said the police had arrested several men they described as leaders of the theft ring, including Troy Turner, of Newark, who they said headed the local street network responsible for the theft of more than half of the cars.
Another suspect, Solomon Owusu Asare, of Maryland, was said to have extensive contacts abroad. Both men were charged with leading an auto-theft trafficking network.
Colonel Fuentes said that Ashraf G. Seleman, of Avenel, N.J., who worked as a “freight forwarder,” arranged the shipment of the cars overseas. Charges against him included receiving stolen property.
The police said there were still 10 outstanding arrest warrants, including four for people abroad involved in the scheme.
In a parking lot at state police headquarters here, officers displayed the cars they had recovered, including a few BMWs, two Hummers and several cars with New Jersey dealer stickers on the windshields. In one car, a Volkswagen sport utility vehicle, there was a $22 ticket to something called the “World Cup Bull Riders” sitting in a coffee cup holder.
“One of the most notable things about this criminal organization is that they operated in a way that they would have the car keys,” Ms. Milgram said, adding that many of the cars were not damaged during the theft, increasing their resale value.
Most of the new cars were stolen from the Port of Newark, although the authorities would not discuss exactly how because the investigation is continuing. However, they noted that extra valet keys in new luxury cars are often put in the glove compartment, the owner’s manual or the first-aid kit.
Lt. Rick Nuel, an investigator with the state police’s auto unit, said that six cars were stolen from a dealership in Edison on Sunday, and seven more on Monday.
Some vehicles were taken from the long-term parking garages at Newark Liberty Airport, and others were stolen the old-fashioned way; they were hot-wired. Three cars were stolen in carjackings, the police said, but no one has yet been charged in those crimes.
And in a few instances, Lieutenant Nuel said, the thieves rented luxury cars in Texas using false identification from Florida, and simply kept them.
Operation Auto Export began in earnest in April.
The police said Mr. Turner led an operation in Newark and East Orange, presiding over a network of street thieves. They brought him stolen cars, for which he paid $500 to $2,000 and resold them for at least double the price, Colonel Fuentes said.
In some cases, Lieutenant Nuel said, the thieves would go to parties, steal guests’ keys and then take the cars.
He offered a bit of advice to owners of luxury cars: “You want to take your valet key out of your car.”
source : www.nytimes.com
Car industry pleads with RBA not to raise rates
THE car industry has cautioned the Reserve Bank against raising interest rates despite the national new-vehicle market posting monthly records this year.
July registration figures show sales of new vehicles surged 11 per cent to a record 86,291 units compared with the previous July.
The overall market has grown 8.9 per cent in the first seven months of the year.
"We shouldn't take the strength of the market for granted," said Federal Chamber of Automotive Industries chief executive Andrew McKellar.
He described the July sales as a "tremendous result" that had kept the market on track to exceed 1 million sales for the first time in a calendar year.
But he said there was nothing inflationary in the figures to support a rate rise in coming months.
He said the Australian Bureau of Statistics had measured a 1.4 per cent rise in vehicle prices in the past 12 month, well below the 2.1 per cent overall inflation rate.
"Despite strong demand, motor vehicle pricing is not contributing in any way to inflation," Mr McKellar said.
He said he believed that, in the absence of a rate rise, the market would continue to grow to the end of the year, even with a federal election due in a few months.
Mr McKellar said the July registrations were good news for some local manufacturers as sales of large cars and medium cars rose 18.6 per cent and 21.7 per cent respectively.
But the good news was not spread evenly across local car makers.
Holden Commodore sales rose to 5134 last month, a 28 per cent rise over the previous July, and Mitsubishi 380 sales gained 15 per cent to 949 units.
Ford's Falcon, due to be replaced early next year, was down 19 per cent to 3186 units.
Toyota was again the big winner, thanks to the two models it makes at Altona.
The six-cylinder Aurion took third place in the large-car segment with 1925 sales, more than six times the sales of the previous six-cylinder model from Altona, the Camry V6 (the Avalon had been retired by July last year).
In addition, sales of the four-cylinder Camry, classified as a medium car, trebled to 1990 units, accounting for one in three of all medium cars sold during the month.
Mr McKellar said it was "intriguing" that sales of medium and large cars rose last month even though July was not renowned for fleet sales.
"Private sales have also been strong, both in passenger vehicles and SUVs," he said.
source : www.theage.com.au
April-juni 2007, Ascending Toyota Net Profit of 32%
April-juni 2007, Ascending Toyota Net Profit of 32%
TOKYO – Automotive manufacturer of Japan Toyota Motor Corp at period April-Juni 2007 printing increase of operation profit until 32 %. That thing pushed by sale gambol in Europe and North America capable to close its(the breakout sale inside the country.
Based on financial statement cited by Reuters, Jumat ( 3/8/2007), operational profit Toyota reachs 675,43 yen billions or USD5,67 billion. This number far from ekspektasi submitted by analyst circle 612,4 yen billions.
The company net profit also increases 32 % to become 491,54 yen billions.
Finance performance performance of this Toyota clearly gladdens. The reason is last week rival they are Honda Motor Co also reports increase of net profit to propose the recovery of sale.
By three months ending 30 Junes, Share Toyota experiences increase of 3,3 % to become 7800 yens. While in Tokyo's Transport Sektor Subindeks grows 5,8 %.
source : okezone.com