Toyota Motor Corporation Plans $1 Billion Car Plant In Brazil-Reuters
Reuters reported that according to Brazilian business newspaper Valor Economico, Toyota Motor Corporation plans to build a new car plant in Brazil's Sao Paulo state worth more than $1 billion. Valor said Toyota's second car plant in Brazil should be ready around 2010 and would produce over 200,000 small economy cars per year as well as engines.
Name Revenue Growth (M) (Figures in $) 1. Toyota Auto Body Co., Ltd. 8.6 2. Navistar International corporation. 6.7 3. Daihatsu Motor Co., Ltd. 6.6 4. Yamaha Motor Co., Ltd. 5.3 5. Suzuki Motor Corporation. 3.0 6. Harley-Davidson, Inc. 1.7 7. Polaris Industries Inc. 1.4 8. Honda Motor Co,. Ltd. 0.3 9. Daimler AG (USA). 0.2 10. Fuji Heavy Industries Ltd. -0.7
AB Volvo's Volvo Trucks Opens New Service Facility in Serbia
AB Volvo's Volvo Trucks announced that they opened a large service facility in Belgrade, Serbia, last month. The 3,000-sqm large facility will be a multifunction service station and offer workshop services, sales of trucks and spare parts as well as financial services.
General Motors Corporation To Cut Truck Production By 170,000 Units-Reuters
Reuters reported that General Motors Corporation said it plans to reduce pickup truck and SUV production by 170,000 units in the second half of the year, while increasing the output of cars. Summer shutdowns will be extended in seven GM truck plants to throttle back production. A few plants will also have additional shutdowns later this year.
AB Volvo Plans To Close Plant In Tampere, Finland
AB Volvo announced that its Board of Directors has decided to initiate negotiations with representatives of the employees with the intention to close the bus body plant in Tampere. The Company also about to reorganize operations at the body plant in Turku to increase the competitiveness. In total, approximately 300 employees could be affected. Volvo Buses European bus body production system consists of the two plants in Finland, in Wroclaw, Poland, and in Saffle, Sweden. The plants in Tampere and Wroclaw both manufacture the Volvo 8700 bus model.
Name Operating Margin (M) (Figures in $) 1. Harley-Davidson, Inc. 9.4 2. Polaris Industries Inc. 8.8 3. Federal Signal Corporation. 4.7 4. Mayflower Corporation plc. 2.3 5. Navistar International Corporation. -0.6 6. Honda Motor Co,. Ltd. -1.1 7. Daimler AG (USA).. -1.3 8. Ford Motor Company. -3.2 9. Supreme Industries,. In. -4.2 10. AutoLogic Holdings plc. -6.8
General Motors Corporation Weighs More Layoffs-WSJ
The Wall Street Journal reported that General Motors Corporation is preparing to cut thousands more white-collar jobs and is considering whether it should sell or shutter more of its brands. Both moves are part of a broader re-evaluation of GM's strategy and of its ability to meet an internal projection of returning to profitability in 2010.
General Motors Corporation To Announce Further Restructuring Steps-Complete Story
Reuters reported that General Motors Corporation is set to announce further steps to cut costs in the face of slumping sales. The Company said it would detail what it is doing to align its operations to current market conditions. The cost-cutting will include widespread job cuts for white-collar workers, including engineers assigned to now-frozen efforts to develop GM's next generation of full-size SUVs and pickup trucks. In addition, the Company is expected to detail steps to conserve cash--including possibly eliminating dividend payments--as it prepares to raise capital to carry it into 2010 when it will begin to capture large savings from a contract reached last year with the United Auto Workers union.
Ford Motor Company To Delay Introduction Of New F-150 Pickup Until Late Fall; Comments On FY 2009 Profit Outlook; Cuts Production Outlook-AP
The Associated Press reported that faced with a continuing plunge in pickup truck and sport utility vehicle sales, Ford Motor Company tried to deal with the mess by delaying production of the new F-150 pickup truck and announcing further factory cuts. The Company also said that its loss on automotive operations will worsen in 2008 and that it will be difficult for the Company to break even in 2009 as it had predicted just one month ago. Because of the crumbling sales, the Company said it will cut third-quarter production by another 50,000 vehicles. It now plans to produce 475,000 vehicles, 25% fewer than the third quarter of last year. The Company also says fourth-quarter production will drop by another 40,000 vehicles to a range of 550,000 to 590,000. This on top of a previously announced 8% to 14% cut from the fourth quarter of last year. Most of the production cuts will come from extending the normal two-week summer shutdown at pickup and SUV plants, as well as shift and assembly line speed reductions, the Company said in a statement. The Company said it will now introduce the new F-150 model two months later than normal, in late fall instead of its earlier target of late summer.
Name Revenue(M) (Figures in $) 1. Toyota Motor Coroporation. 16,716.810.0 2. Honda Motor Co., Ltd. 8,376,022.0 3. Daimler AG (USA). 120,311.6 4. Ford Motor Company. 112,051.0 5. Navistar International. 12,151.0 6. Harley-Davidson, Inc. 5,288.7 7. Polaris Industries Inc. 1,617.7 8. Federal Signal Corporation. 887.0 9. Mayflower Corporation plc 615.1 10. Supereme Industries. 205.4
Suzuki Motor Corporation To Recall 245,000 Vehicles In Japan-Reuters
Reuters reported that Suzuki Motor Corporation would recall about 245,000 mini vehicles in Japan after it received reports of malfunctions with electric wiring. The automaker will recall its every mini vehicles manufactured between August 2005 and November 2007 and scrum mini vehicles produced by Suzuki and sold by Mazda Motor Corp.
Name ROI (M) (Figures in $) 1. Polaris Industries Inc. 25.1 2. Harley-Davidson, Inc 4.2 3. Federal Signal Corporation 3.7 4, Mayflower Corporation plc, The -0.6 5. Navistar International Corporation -1.4 6. Honda Motor Co,. Ltd. -2.1 7. Ford Motor Company. -2.8 8. Daimler AG (USA). -4.3 9. Toyota Motor Corporation. -4.7 10. Supreme Industries, Inc. -7.8
New Flyer Industries Inc. Receives 1,234 Bus Orders
New Flyer Industries Inc. announced that it has received orders over the last three months for up to 1,234 buses (1,567 equivalent production units or EUs) for a combined value of over USD 706 million. Of these orders, 1,108 buses (1,406 EUs) are new orders and 126 (161 EUs) are exercised options. When combined with orders reported in a March press release, New Flyer has announced a total of 2,487 bus orders (3,110 EUs) valued at over USD 1.3 billion in 2008. These orders are for a variety of vehicle configurations, including 35-, 40- and 60-foot buses with clean diesel, electric trolley, hybrid, and compressed natural gas (CNG) and liquefied natural gas (LNG) propulsion systems. These orders represent virtually every propulsion system available on the market today.
AB Volvo Receives Order in Hungary-Reuters
Reuters reported that AB Volvo has received an order for 1,500 trucks in Hungary. The financial terms of the contract were not disclosed.