Chrysler, China's Chery Auto sign pact to export cars

BEIJING (MarketWatch) -- DaimlerChrysler AG's (DCX.XE) Chrysler Group and Chinese automaker Chery Automobile Co. signed an agreement Wednesday through which Chery will build cars for export under Chrysler brand names, a new low-cost business model for the U.S. automaker.
Chrysler and Chery signed a letter of intent in December, but there had been uncertainty over the deal since DaimlerChrysler's decision in May to sell 80.1% of Chrysler to private-equity concern Cerberus Capital Management L.P.
For Chery the deal is an opportunity to enter the U.S. and European markets, a longtime ambition for the fast-growing company, using well-established American brand names such as Dodge and Jeep.
Chrysler said it will choose several small-car models now being developed by Chery and help make branding, design and regulatory changes to prepare them for export. In the future, both companies will jointly develop new products based on Chery small-car platforms.
"This is the start of a very long relationship between Chrysler and Chery," Chrysler Chief Executive Tom LaSorda said at a press briefing in Beijing on Wednesday.
"As part of the Chrysler Group's global transformation, we're finding new ways to bring vehicles to market faster, more efficiently, with less costs, and with the same high-quality standards," LaSorda said.
The first car to be produced under the deal will carry Chrysler's Dodge brand and will be available within 12 months, though initially only in markets such as South America and Eastern Europe, Chrysler executives said at a press briefing on Wednesday.
LaSorda told reporters on the sidelines of the briefing that he expects cars made under the deal to be sold in the U.S. by "mid-to-late 2009."
Total production under the deal will reach 50,000 to 100,000 or more cars a year, and could be in the hundreds of thousands, LaSorda said.
Chrysler sold 2.14 million vehicles in 2006, down about 7% from a year earlier.
Chery, which specializes in small cars, sold about 300,000 cars last year and says it expects to sell 393,000 cars in 2007. It already exports cars to many developing countries, and has long sought to enter the U.S. market.
The agreement between Chrysler and Chery has been controversial, as labor leaders argue that the deal will turn Chrysler into a "door opener" for China's auto industry as it seeks inroads in the U.S. and Europe.
General Motors Corp. sued Chery in 2004, saying that a Chery subcompact known as the QQ was a copy of the Chevrolet Spark. The two companies settled the suit in 2005, without disclosing the terms.
LaSorda told reporters that there won't initially be any technology transfers to Chery as cars will be built on Chery's current platforms.

source: www.marketwatch.com

Auto Loan Financing – Finance Assistance For Bad Credit

Bad credit may get you to make higher loan payments, but by means of bad credit auto loan financing you can avoid this. Though, lower rates on auto loans for bad credit are not impossible but may be difficult to dig out. Again, there are those deceptive lenders to lure people with bad credit with ‘lucrative’ loans that end up containing one or more hidden charges. Therefore, it is essential to browse through plenty of loans and compare them thoroughly to avoid falling prey to these fraudulent lenders.

Bad Credit Auto Loans With Good Deals

Most consumers with bad credit feel awkward to approach lenders fearing that their loan application might get rejected due to their credit status. Usually, lenders scrutinize borrowers’ credit reports to identify their capability to repay the loan. Hence, negative points in one’s credit reports negate chances for him or her to receive loan approvals. Many consumers assume their present credit status can offer them no help to finance their car purchase, this is why, they simply step back. It is true that users with blemished credit report might not get cheap deals as those with strong credit standing, but, bad credit auto loan financing offers good opportunities to improve credit history.
The market is flooded by a number of entities to devise auto loan financing schemes for people with bad credit. So no more worries. Even if you fall behind the score, you do not fall behind an opportunity of buying the car of your choice. Whether it is an old or new car you want to buy, lenders have different auto financing plans in place for you, regardless of your poor credit status. There is variety of car loans for those with poor credit status including used auto loans, car loan rates for new cars and many more. Therefore, if you are out to shop for bad credit car loans, make sure you shop around till you drop.

There is one more way to catch up with your local lenders and far off lenders offering you loans with different quotes. It is at home that you can find them crowding with multitude of loan quotes, on the Internet. Today, lenders have found a niche through the Internet to expand their horizons of business and to tap targeted customers who seek solutions at their fingertips, from the comfort and privacy of their home. This is the best way to avoid fraudulent lenders as you may access sufficient information on their operations on the Internet. As you collect more loan quotes, you can spend more time in comparing quotes of auto loan financing and keeping aside fraudulent operators from your list.

Before you shortlist genuine lenders and actually discuss with them plans about auto loan financing, you will get a clear idea of what your monthly installments will be. You can use the online auto loan calculator that most sites contain. It is one of the best advantages of shopping for auto loan financing for bad credit online as you get an instant estimate whether you can repay the loan that is on offer.

Bad credit auto loan financing is the ray of hope for the people who are looking for new car loans or used auto loans and facing difficulty in the loan approval because of the bad credit score. The car loan rates are high for such type of loans but it is possible to get the poor credit car loans. Visit Low Interest Car Loan for more car loans options.

source : www.americanchronicle.com

Fiat paints picture with rebirth of street icon

Fiat Auto will be showcasing the rebirth of an iconic car and its own financial revival when it relaunches the Cinquecento city car at festivities around Italy on Wednesday.

The carmaker has invited more than 7,000 dealers, importers, financial analysts and others to Turin to mark the new 500's launch, 50 years to the day after its debut. Thirty other Italian cities will display the car on their piazzas.

In reviving the Cinquecento in multiple versions, with improved technology and a high price for its size, Fiat is following the lead of BMW, which has produced more than 1m Minis since relaunching an upscale version of the car in 2001.
Fiat will offer customers a choice of accessories for their 500s including chrome elements, special wheel rims and upholstery, and Italian-flag graphics, making – it says – more than 500,000 permutations possible. The carmaker is also aiming for a five-star crash-test rating, ambitious for a car barely 3½-metres long.

The Turin-based producer is also billing the Cinquecento as "the manifesto of a 'new Fiat'." Under chief executive Sergio Marchionne, the company has swung back into profit and increased its share in a tough European market. Last month Fitch Ratings gave Fiat's debt its first investment-grade credit rating in four years.

The new Cinquecento's price, starting at about €10,000 ($13,600), will put it towards the top end of Europe's growing city-car segment, where it will sit alongside models such as the Citroen C1 and Renault Twingo. Company officials try to discourage comparisons with BMW's luxury Minis, which start at €15,850 and go up to €21,600 for the Mini Cooper S.

With petrol prices high and emissions controls tightening, small cars are selling well. City and subcompact cars both expanded their shares of the European market last year.

Fiat is trying to position itself as a leader in low-emission cars as European lawmakers push manufacturers to cut their vehicles' carbon dioxide emissions by a quarter by 2012. Fiat says the 500 will be compliant with Euro 5 emissions limits from its launch, two years before the standards come into force.

The new Cinquecento will combine "emotional appeal with rational buying reasons". such as lower fuel consumption and CO2 emissions, says Kevin Gaskell of EurotaxGlass, an automotive consultancy which has done some work for Fiat.

Fiat will make the new Cinquecento in the same plant in Tychy, Poland, where it makes its Panda city car and will begin producing a new version of Ford Motor's Ka next year. Analysts say Fiat should easily meet its initial target of 120,000 sales a year, which it says it can increase to 140,000 if demand is high enough.

"Retro models have proved to be very popular, as proved by the Mini," says Jonathon Poskitt, manager of the European sales forecast with consultancy JD Power. "They will try to position it as a basic-segment car, but at a little bit of a premium to the Panda."

Prices for the new 500 are expected to go from about €10,000 to more than €14,000 for a version with a 1.3 litre diesel engine. Ford's new Ka, with a similar engine and substructure to the 500, is expected to be cheaper.

Fiat is said to be considering offering a sports version of the 500 in the US. The company does not sell cars in the world's largest vehicle market, but plans to relaunch its Alfa Romeo premium brand there in 2009.

source : www.msnbc.msn.com

Police seek suspect who fired shot, stole auto

Fond du Lac police are looking for a man accused of holding two men at gunpoint and stealing a car from an apartment building parking lot Monday night.

The incident happened in a parking lot at 695 E. Scott St. at about 10:30 p.m., said Major Kevin Lemke of the Fond du Lac Police Department.

"The two males were inside the vehicle and a third male came up, got in the back seat and produced a pistol of some sort," said Capt. Jon Gutzmann of the Fond du Lac Police Department.

The suspect — who was wearing a ski mask — demanded drugs from the two men in the front seat of the car and fired a shot out the open window of the car, Lemke said.

The two men got out of the car and fled, Gutzmann said.

"The suspect got into the front seat and drove away in the car," Lemke said.

"We still haven't found the car," he said Tuesday afternoon.

The men told police they did not know the suspect, Gutzmann said.

The car is described as a 1990 Pontiac 6000, four-door sedan that is blue and rusty. The car has two "faded stickers in the rear window," Lemke said.

The suspect is described as a black male who was wearing a black shirt, black jeans and a black ski mask at the time of the incident, Gutzmann said.

source : www.fdlreporter.com

Auto Package: Buyers of economical cars can choose from a rich crop

A young relative recently asked my advice on buying a new car in the economy price bracket. It had to have adequate passenger room for friends, offer enough cargo space for weekend camping trips and not boast a daunting sticker price.

A few years back, the "bog standard" entry-level car class was neglected by automakers looking for more rewards from higher-priced products, but recently the situation has changed. High fuel prices, a return by consumers to less complex vehicles and a wish by many to make some kind of "green" contribution has brought a rich crop of affordable, economical models from several manufacturers.

The Chevrolet Aveo comes in sedan and hatchback versions and offers lots of space for a small car, along with a nice 1.6-litre twin cam engine. For young buyers, the hatchback is probably the best choice since all kinds of gear can be stowed on the load floor when the rear seat backs are folded down. For a car that lists for less than $13,000 in basic form, the Aveo handles very well. There's also a Pontiac version of this car called the Wave with similar specifications.
The Dodge Caliber costs under $15,000 in basic guise and comes with a 1.8-litre engine that's peppier than many in this class. The Caliber only comes as a four-door hatchback, which will probably suit most young buyers just fine. It's a trendy-looking little rig that doesn't borrow styling cues from any automaker, which gives it lots of individuality.

A basic Ford Focus hatchback is worth a look for people fitting our buyer profile and the two-door hatch is a nice, simple design that offers build quality and excellent economy. Even though it has quite a large engine for its class - a 2.0-litre - it still costs less than $15,000 if you don't exploit the options list too enthusiastically (a great temptation with these Fords).

Honda's recent entry into this product bracket was very welcome and the (oddly named) Fit certainly upholds the reputation enjoyed by this automaker. There seems to have been no skimping anywhere, even though you can buy one for under $15,000. I tested a Fit on a closed circuit against several competitors in back-to-back handling trials and found the Fit was the most agile of the bunch. The engine is a 1.5-litre four-cylinder. The Fit has been widely praised for its packaging and it certainly seems a much larger vehicle inside when you start folding seats away. It's almost like a little van.

Hyundai's Accent comes in hatchback and sedan form and the two-door hatch costs under $13,500, quite an achievement in these days of high manufacturing costs. The car comes with a 1.6-litre engine that's surprisingly refined and responsive. You can even accessorize your Accent and come up with something that looks like a touring car racer if you want to spend some extra money.

Kia's equivalent is the Rio, which again comes in hatchback and sedan configurations. Under $13,600 in base sedan form, the Rio uses a 1.6-litre four similar to the one in the Accent, so performance is very similar. The four-door hatchback costs little more than the sedan, but offers better practicality.
Nissan's Versa hatchback is another affordable model that impressed me with its handling capabilities and general air of solidity and quality, despite a sticker starting at $14,498. A 1.8-litre four-cylinder gets this car smartly off the mark and like its near-equivalent the Honda Fit, it's a clever piece of packaging when you start loading the cargo area. There's also a Versa sedan for the same price.

Suzuki's Swift hatchback should be on any shortlist with its 1.6-litre four-cylinder powerplant and very capable performance under any driving conditions. The Swift is related to GM's Aveo and Wave and has Korean origins. Side impact air bags are standard, so this a safe little car. "European suspension tuning" was added for 2007 at no extra price.

Toyota's new Yaris has earned a surprisingly large stake in the economy car market in a fairly short space of time. This is a very cute-looking car in either hatchback or sedan form, though the hatchback probably has the styling edge. Power comes from a 1.5-litre 4-cylinder and the basic price is $13,925, making this the least expensive way to get into a new Toyota.
Volkswagen is continuing production of its old Golf model in Mexico and selling it for $14,900 as the "City Golf." As such, it's a real bargain and very close to the new Rabbit, which costs quite a bit more. VW's 1.8-litre engine has long been considered one of the better "fours" in the business.

source : www.canada.com