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Friday, August 3, 2007
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
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