NINETY EIGHT REGENCY

GAZ Siber to switch from Chrysler Sebring to MB E-Class?! Russian automotive manufacturer GAZ is being courted by a number of handsome suitors, according to Inside Line. While the company currently produces the Volga Siber at its Gorky Automobile plant, there's some indication that Daimler may want the facility to switch to building the Mercedes-Benz E-Class. The move would kinda sorta be an all-in-the-family affair as the Siber is currently built off of the old Chrysler Sebring platform. With Chrysler out of Daimler's portfolio and Mercedes-Benz looking to take the Russian assault to its rival BMW, the move would make plenty of sense. It would also seem to be a rather large step up from its current configuration. The thing is, GAZ has also been spending late nights on the phone with the likes of Tata to produce that company's Indicar. At the same time, General Motors has been wooing Tata to manufacture any number of its vehicles. At this point, it's anyone's guess as to which company will win the GAZ plant's heart, but Inside Line seems to think that GM has the best bet out of the field of potentials. The reason? Bo Anderson, the new chairman of GAZ, used to be the head of worldwide purchasing for The General. How's that for a love trapezoid? link: http://www.autoblog.com/2010/08/17/gaz-siber-to-switch-from-chrysler-sebring-to-mb-e-class/ Daimler, GM Talk Deals With GAZ Published Aug 11, 2010 Just the Facts: Daimler is considering partnering with GAZ to build the Mercedes-Benz E-Class in Russia. Production is expected to be launched at the Gorky Automobile Plant in Nizhny Novgorod. E-Class would replace the current assembly of the Volga Siber, a car based on the old Chrysler Sebring. NIZHNY NOVGOROD, Russia — German automaker Daimler is considering establishing the production of Mercedes-Benz E-Class cars in partnership with GAZ Group, Russia's largest automotive engineering holding. Production is expected to be launched at the Gorky Automobile Plant in Nizhny Novgorod and may replace the current assembly of Volga Siber cars, which is estimated at 100,000 cars a year. The Siber is based on the previous-generation Chrsyler Sebring sedan. A source close to the project said that the companies are continuing talks on the financial side of the project, without disclosing expected volume of production. Russian analysts said cooperation with GAZ could be beneficial to Daimler, which intends to compete more directly with its main rival BMW in Russia. At the same time, in addition to Mercedes-Benz, GAZ Group is considering several other potential partners. There is a possibility that the Russian plant may start the production of the Tata Indica car or some models from General Motors. In the case of GM, according to sources in GAZ Group, the company has already had talks with the U.S. company. So far, GM has three production sites in Russia. In 2008, its launched its plant in St. Petersburg, which specializes in the production of two Chevrolet and two Opel models. Since 2002, the group, in cooperation with AvtoVAZ, has produced the Chevrolet Niva model. The U.S. company has also licensed production of several models at the Avtotor plant in Kaliningrad. Inside Line says: GM could have an inside track, now that Bo Anderson, its former head of worldwide purchasing, is chairman of GAZ. — Evgeniy Vorotnikov, Correspondent link: http://www.insideline.com/mercedes-benz/daimler-gm-talk-deals-with-gaz.html

Audi, Mercedes, BMW rely on China as Germany stalls August 16, 2010 06:01 CET SHANGHAI (Bloomberg) -- BMW AG, the world’s largest luxury carmaker, Volkswagen AG’s Audi unit and Daimler AG's Mercedes-Benz brand are making up for faltering sales at home by selling more cars in China even as industrywide demand cools in the world’s largest auto market. Audi sold 53 percent more cars in China in July compared with a year earlier, while Daimler, the world’s second-largest luxury-car maker, tripled sales of its Mercedes-Benz brand to 14,500 vehicles and BMW raised its deliveries 82 percent to 13,852, the companies said this month. Sales of Audi and Mercedes fell in Germany for the month, while BMW sales increased 4 percent. Demand for upscale cars in China may outstrip the overall car market during 2010 as a growing number of wealthy Chinese boost demand for upscale models. Research group J.D. Power & Associates estimates sales of luxury vehicles in the nation will rise at almost double the industry pace of 20 percent to 530,000 units this year and reach 1.1 million by 2015. “Limited competition, very strong growth and a willingness to spend money. That combination is just explosive,” said Michael Dunne, president of automotive research firm Dunne & Co. Rich Chinese are “declaring their success to their friends, family and colleagues with what kind of car they are driving,” he said. Quarterly profit Sales in China are helping the German automakers increase profit even as car sales during the first six months of the years rose just 0.6 percent in Europe, their most important region by deliveries. Vehicle registrations in Germany fell 30 percent in July, according to figures from the Federal Motor Vehicle Office in Flensburg. Volkswagen reported its biggest quarterly profit in two years on July 29 in part because of demand in China for Audi models. Audi’s China sales have outstripped growth in other markets, the company said in a statement last week. Sales of its cars, including the Q5 premium medium SUV and A8L sedan, surged 53 percent to 20,537 vehicles in China, while the brand’s sales grew 7.7 percent worldwide. BMW, which sells the 3-, 5- and 7-series models in China, reported its best quarterly profit in two and a half years, the company said in a statement this month. Deliveries in China more than doubled in the first half and accounted for about 11 percent of all sales, BMW Chief Financial Officer Friedrich Eichiner said on an Aug. 3 conference call. Daimler raises profit outlook Daimler raised its 2010 operating profit forecast to 6 billion euros ($7.8 billion) on July 27 after beating quarterly estimates. It cited higher sales in China and the United States. Non-luxury automakers are faring less well in China as the government takes steps to cool the economy and higher inflation cuts disposable incomes. Industrywide growth slowed to 13.6 percent in July, the lowest in 16 months, the China Association of Automobile Manufacturers said on Aug. 9. Sales may begin shrinking as early as next month, according to Daiwa Institute of Research. Ford Motor Co. and Zhejiang Geely Holding Group Co. said this month that sales in July fell from a year earlier, while BYD Co., the Chinese automaker backed by Warren Buffett, cut its full-year sales forecast by 25 percent to 600,000 vehicles from 800,000 on Aug. 4. Still, luxury sales will continue to advance as the number of wealthy Chinese increases and automakers extensively offer their latest models, said Jenny Gu, a Shanghai-based analyst at J.D. Power. “Luxury car-market sales growth will slow as the base grows," she said, "but it will still be faster than the overall passenger car market.” Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100816/ANE/100819939/1131#ixzz0wnCa0sqO

EU’s Struggling Economies Yet to See Recovery in Car Sales, Prices By Keith Nuthall WardsAuto.com, Aug 16, 2010 9:00 AM Passenger-car prices in Eastern Europe have tumbled along with vehicle sales as a result of the global recession significantly faster than in Western Europe, impeding attempts to create a unified automotive market that spans the continent. A key benefit of the European Union for the auto industry was supposed to be the tariff-free sale of vehicles between its 27-member states. By removing the bureaucratic barriers preventing such purchases, the EU has tried to create one unified auto market for its combined population of 500 million people. But surveys by the European Commission show this progress to be uneven, and the global recession has made things worse. Price differentials for the same model continue. In 2009, former communist countries in Eastern Europe that joined the EU in the last decade saw car prices plummet as consumer purchasing power fell. The most recent EC data shows this was particularly marked in Slovenia, with prices down 13.4% compared with prior-year; Lithuania 11.1%, Slovakia 11%, Romania 10.1%, Czech Republic 9.4%, Bulgaria 9.1% and the southern European island state of Malta 9.2%. These sharp falls have prompted auto makers and dealers serving these countries to consider whether this is a medium-term problem or just a recessionary blip. In the Baltic States of Estonia, Latvia and Lithuania, analysts and dealers tell Ward’s these Central European markets finally have exhausted inventories and dealers are ready for new units. In 2009, Latvia new-car sales plummeted 80%, according to EC data. But Renault SA dealers today are reporting progress with consumer incentives and lower prices to entice buyers. Toyota Motor Corp. and Volkswagen AG lead passenger-car sales in the region, but their retail prices have not returned to their pre-crisis mark. Sweden’s Volvo Car Corp. has yet to see improved sales, and officials say they cannot predict when gains will come. Baltic States market-leader Toyota car prices still depressed. However, analysts insist the region’s economy is on the road to recovery and the auto industry soon will follow. “Though registrations (still) are falling, the market is expected to recover rather quickly after the current economic crisis is over,” says Lithuania-based AV Automotive Research. The company says 74,500 cars and light vans were registered in the three Baltic States during 2008, the onslaught of the global recession, falling 23.4% from 2007’s 97,300. “In the long term, there is an estimated potential of some 120,000-150,000 units per year.” In Bulgaria, importers and dealers are trying to adapt to a new lower-price market they suspect will be with them for some time. Car-importer Avto Union AD Marketing Director Krassen Hadjiev says tactics include shifting from money-based to product-based discounts such as free upgrades, insurance and maintenance, plus longer warranty periods; ordering only best-selling vehicles; and introducing basic models, with a lower price but a higher profit margin. Avto Union coordinates and helps manage Bulgarian importers for seven brands that include Fiat, Lancia, Alfa Romeo, Maserati, Mazda, Opel and Chevrolet. The company reported sales of 1,111 vehicles in the year’s first six months, capturing 13% of the market, up from year-ago’s 10.5%, when it delivered 1,005. “I believe it would be difficult to come back to normal retail-price levels, as the customers (have) adapted to the high discounts and are still very unwilling to pay list price unless they are offered a bonus,” Hadjiev says. “Brand loyalty has been shifted away by discount hunting, creating sometimes abysmal sales figures within a promotion period,” he adds. “We do expect by year-end the drop in sales to start leveling with last year’s figures, but this is still very uncertain.” Bulgarian Deputy Prime Minister and Minister of Finance Simeon Djankov says there already are signs of economic recovery in his country following the recession that saw it contract 5.1% in 2009. New Skoda Yeti output launched in May at Kvasiny plant in eastern Bohemia. “The crisis is an opportunity not only for us but for the whole region, because it launches the real reforms,” he is quoted as saying. “From now on, the recovery will continue smoothly.” Further west, the Czech Republic market appears to have stabilized, with new-car prices holding and new registrations growing. Czech light-vehicle production grew 18% in the year’s first half, compared with year-ago, the Czech Association of Car Makers says. Ward’s data shows 89,026 new cars were sold though June, marking a 12.3% gain on like-2009. Some 64,000 imported used cars also were registered, for a 10.5% drop from year-ago, according to the Czech auto makers’ group. Despite the end of the government scrappage scheme in the key German market, Czech flagship auto maker Skoda Auto a.s so far is leaving retail prices at 2009 levels. “We didn’t feel the need to change our price policy,” says Jaroslav Cerny, a Skoda spokesman. However, retail prices of imported European cars in the Czech market have continued to fall. According to Czech magazine AutoRevue.cz, prices of some brands, such as the Suzuki SX4 1.5L, have declined 37% this year compared with 2009. Other models, such as the Lada Priora, Chevrolet Lacetti and SEAT Ibiza have seen their price tags fall 20%. Volkswagen AG is among the few auto makers to hold the line, following 2009 reductions. “The price war continues on the Czech market and is very aggressive,” says Jan Klíma, of the Import Volkswagen Group. Combined, VW, Audi, SEAT and Skoda sales total 38,954 cars in the year’s first six months, for a 43.8% market share, Ward’s data shows. – with Monika Hanley in Latvia, Zlatko Conkas in Serbia and Cristina Muntean in Prague link: http://wardsauto.com/ar/eus_struggling_economies_100816/

RAM TRUCKS REVEALS ALL-NEW OUTDOORSMAN EDITION PICKUP By Mark Kleis In order to better accommodate the needs of the majority of truck owners, Ram Trucks has introduced an all-new special edition truck known as the Ram Outdoorsman, which adds several features aimed at hunters, fishermen, campers and boat users. “We asked Ram Truck customers – boaters, campers, fishing enthusiasts and hunters – what features would they like to see in a truck,” said Fred Diaz, president and CEO of the Ram Truck brand. “They answered ‘more capability, more room for my gear and ready to hit the trail. And make it affordable.’” According to the market research Ram Trucks performed, 62 percent of truck owners use their trucks to hunt, fish or camp. More specifically, Ram found that 57 percent fresh water fish, 47 percent hunt, 37 percent tow camping trailers, 36 percent tow power boats, and 33 percent salt water fish. As a result, the Outdoorsman package is born, available in 1500 (half-ton), 2500 HD (3/4-ton) and 3500 HD single rear wheel (1 ton), Regular Cab; Quad Cab, Crew Cab and Mega Cab; four-wheel drive and two-wheel drive, as well as both short- and long-wheelbase models. Ram Outsdoorsman special features Realizing the needs of the majority of truck owners were at least partially based on outdoors-related activities, Ram set out to create a truck that would better cater to those unique needs than any factory truck currently available on the market. For starters, the Outdoorsman received a standard class IV towing package, standard lighted four- and seven-pin trailer harness plugs, heavy-duty cooling, including a mechanical-electrical fan and transmission cooler, a limited-slip differential and standard trailer-sway control (1500 only). The Outdoorsman also features 17-inch wheels and “LT” load-rated tires (LT275/70R17C OWL on Ram 1500 models; LT265/70R17E on Ram HD models) with a full-size spare. Tow hooks also come standard in the event the Outdoorsman comes across a lesser-truck or SUV stuck off-road. Inside the Ram Outdoorsman come packed with extra lighting sources, as well as a 115-volt auxiliary power source for charging batteries or electronic devices. Unique style with added function The Outdoorsman models will also feature a two-tone paint scheme with a Mineral Gray lower section, special scratch-resistant steel bumpers, black door handles, wheel lip moldings and of course unique Outdoorsman badging. Ram exclusive: RamBox Holster What will really set the Outdoorsman apart from the competition is the exclusive RamBox storage holster. For the Outdoorsman models only, Ram now offers an optional rod and gun rack option for the 1500 model, capable of safely securing two rifle or shotguns, and can also be rotated up to 90 degrees to hold up to six fishing rods. The RamBox Holster carries a minimal $205 MSRP, and can be purchased through any Chrysler, Jeep, Dodge or Ram dealer. Pricing and availability Pricing for Ram Outdoorsman models start at $28,350, including destination charge. Ram Outdoorsman models will go on sale third quarter 2010. LINK: http://www.leftlanenews.com/ram-outdoorsman.html

Ram Trucks debuts new 2011 Outdoorsman, RamBox Holster by Jeremy Korzeniewski (RSS feed) on Aug 12th 2010 at 3:30PM "We asked Ram Truck customers – boaters, campers, fishing enthusiasts and hunters – what features would they like to see in a truck. They answered 'more capability, more room for my gear and ready to hit the trail. And make it affordable.'" So says Fred Diaz, President and CEO of Chrysler's Ram Truck Brand. And apparently, he's not just blowing smoke. Chrysler's internal research suggests that 62 percent of fullsize pickup truck owners hunt, fish or camp. The automaker's response to these apparent needs is the new 2011 Ram Outdoorsman. Functional upgrades include standard trailer towing accommodations, limited-slip differential, 17-inch wheels with off-highway-ready tread pattern tires, underbody protection, tow hooks, halogen head lamps and fog lights. In order to set the truck apart from its siblings, the Outdoorsman will get a two-tone paint scheme with Mineral Gray on the lower portion, wheel lip moldings and, of course, appropriate compass-themed badges. No matter what configuration you order – 1500, 2500 or 3500; Regular Cab, Quad Cab, Crew Cab or Mega Cab; four-wheel drive or two-wheel drive etc. – Ram promises that the Outdoorsman will be available towards the end of the year, and it will be a replacement for the old TRX4 trim level. Pricing will begin at $28,350 including destination. In related outdoorsy news, Ram has also announced a new Holster option (right) for 1500 trucks equipped with the RamBox. For just $205, it will "gently, yet securely cradles two rifles or shotguns, or can be rotated 90 degrees to hold up to six fishing rods." Really, how could you possibly pass that up? See all the details of both new products in the press release after the break. link: http://www.autoblog.com/2010/08/12/ram-trucks-debuts-new-2011-outdoorsman-rambox-holster/

Bio of incoming GM CEO Dan Akerson FREE PRESS STAFF General Motors provided the following bio this morning for incoming CEO Dan Akerson. Biography Dan F. Akerson was elected chief executive officer of General Motors Company on August 11, 2010. He will become CEO effective September 1. Prior to joining General Motors, Akerson was a managing director of The Carlyle Group and the head of global buyout. He served on the firm's executive committee and was based in Washington, D.C. He joined the GM board of directors July 24, 2009. Akerson is a seasoned executive with extensive operating and management experience, having served as chairman, chief executive officer, or president of several major companies, including General Instrument, MCI, Nextel, and XO Communications. His corporate management experience, private equity track record, and deep understanding of Carlyle’s global operation provided a strong foundation for his leadership of Carlyle’s buyout activities in Asia, Europe, Financial Services, Infrastructure, Japan, and the United States. Prior to joining Carlyle, Akerson served in several key roles at MCI Communications Corporation from 1983-1993 including executive vice president and chief financial officer from 1987-1990 and president and chief operating officer from 1992-1993. During his tenure, Akerson formulated and executed MCI’s global strategy. In 1993, Akerson become a general partner of private equity firm Forstmann Little & Company, during which time he served as chairman and chief executive officer of General Instrument Company from 1993-1995. While at General Instrument, he led a successful effort to develop and deploy the first digital video, satellite, and cable systems domestically and internationally. Akerson served as chairman from 1996-2001 and as chief executive officer of Nextel Communications, Inc., from 1996-1999, where he transitioned the company from a regional analog walkie/talkie provider into a national digital wireless competitor. From late 1999 until January 2003, Akerson served as chairman and chief executive officer of XO Communications, Inc. where he led the successful restructuring of the company. In addition to serving on GM's board, Akerson also serves on the board of American Express Company, Booz Allen Hamilton, and Freescale Semiconductor. Akerson graduated from the U.S. Naval Academy with a bachelor of science in engineering. He earned his M.Sc. in economics from the London School of Economics. Read more: Bio of incoming GM CEO Dan Akerson | freep.com | Detroit Free Press http://www.freep.com/article/20100812/BUSINESS01/100812024/1210/BUSINESS01/Bio-of-incoming-GM-CEO-Dan-Akerson#ixzz0wQmwQNrl

GM CEO Whitacre says will step down Sept. 1 By DEE-ANN DURBIN and TOM KRISHER AP Auto Writers DETROIT (AP) -- General Motors Co. chief Ed Whitacre said Thursday he's stepping down as CEO on Sept. 1, his mission accomplished as the company reported its second straight quarterly profit. Whitacre, 68, will be replaced by GM board member Daniel Akerson. Like Whitacre, Akerson has a background of leading telecommunications companies. Akerson, 61, will be GM's fourth CEO in 18 months when he takes over the job. He could be the executive who takes GM public again if an expected public offering takes place later this year. In a conference call with analysts and media, Whitacre didn't directly address a question about whether executives with automotive experience were considered for the job. He said Akerson has learned the auto business in his year on the board. "Dan has been involved every step of the way," Whitacre said. "He knows this business from a board perspective and also from personal conversations. So I think he's absolutely the right choice." Bob Lutz, a former vice chairman of GM who retired earlier this year, said in an e-mail that Akerson doesn't need auto experience to run GM because it has a solid management team of industry experts. But he does need to listen to that team, Lutz said "He's very strong, very opinionated, not always right, and needs to work on listening skills," Lutz said. "If he can bring himself to trust his now-outstanding senior executive group and lead rather than direct, I think he'll do an outstanding job." Whitacre, Lutz said, had no industry experience but focused the company on designing and building world-class cars and trucks. Whitacre was named GM's chairman last July when the automaker emerged from bankruptcy protection. After he ousted CEO Fritz Henderson, Whitacre was named interim CEO in December and became permanent CEO in January. Whitacre, the former head of AT&T Inc., often said in a folksy Texas drawl that he knew little about cars. But he shook up the company with a number of managerial changes, including luring Chief Financial Officer Chris Liddell from Microsoft Corp. He also combined sales and marketing responsibilities and consolidated control of GM's core North American market under one executive. Whitacre said the board was aware of his plans the day he accepted the CEO job, and he predicted a smooth transition. "I believe we've accomplished what we set out to do," Whitacre said. GM reported its second straight quarterly profit on Thursday. A U.S. Treasury spokesman said Whitacre's decision to step down wasn't influenced by the government, which owns 61 percent of GM. The department is grateful for Whitacre's leadership and considers Akerson "proven and well-respected," the spokesman said. The Treasury Department appointed Akerson to GM's board following GM's emergence from bankruptcy protection. Steven Rattner, the former head of the Obama administration's Auto Task Force, said that after two strong quarters of profitability, it's an appropriate time for Whitacre to step down. Rattner called Akerson "a smart, experienced and tough manager." Akerson has served on GM's board since July 2009. He has worked for The Carlyle Group, a Washington private-equity group, since 2003. Previously, he worked in top executive positions at MCI Communications in the 1980s and 1990s. He also served as chairman and CEO of XO Communications Inc., where he oversaw a financial restructuring, and chairman and CEO of Nextel Communications Inc., which he transformed from a regional provider of walkie-talkie service to a mainstream cell phone company. Akerson said he does not expect to make big management changes when he takes over for Whitacre in just under three weeks. He said he knows GM's management well and that Whitacre has made significant changes in his year at the helm. Those changes have pointed GM in the right direction. link: http://hosted.ap.org/dynamic/stories/U/US_GM_CEO?SITE=MIDTN&SECTION=HOME&TEMPLATE=DEFAULT

Introducing Dan Akerson, the next Chairman and CEO of General Motors by Steven J. Ewing (RSS feed) on Aug 12th, 2010 at 1:58PM Another round of CEO Musical Chairs is being played at General Motors. When Daniel F. Akerson officially begins his tenure as GM's chief executive officer on September 1st, he will be the fourth person to sit in that chair in less than two years. Rick Wagoner stepped down from the position at the request of the United States government and was replaced by Fritz Henderson, who then resigned in December of 2009. Ed Whitacre took the reigns in early 2010, and now Akerson will replace him as both CEO and chairman of the board by year's end. But who is Dan Akerson? After all, most of us had never heard his name before this big announcement, and he must be awfully qualified if he's been offered the top-ranking position at one of the world's largest automakers. Akerson, 61, has been a member of GM's board of directors since July of 2009 where he worked closely with Whitacre. In addition, he currently serves as managing director for the Carlyle Group, a United States buyout firm, and is one of the directors at American Express. GM picked a successor for Whitacre who has had plenty of experience with business management. Akerson is the former CEO of Nextel Communications, a wireless carrier now owned by Sprint, as well as a former CEO of telecom services provider XO Communications. He was also appointed to GM's board of directors after the company emerged from bankruptcy reorganization last year. He may not be much of a car guy by our definition, but in terms of someone capable of running a major corporation, both Whitacre and the rest of the GM board of directors are confident that Akerson will use his years of experience to continue to reshape GM during this crucial time of restructuring. Godspeed, Dan. link: http://www.autoblog.com/2010/08/12/introducing-dan-akerson-the-next-chairman-and-ceo-of-general-mo/

BREAKING: GM SELECTS BOARD MEMBER AS NEW CEO By Andrew Ganz General Motors’ interim CEO Ed Whitacre Jr. will step down from his position in just over two weeks to be replaced by current GM board of directors member Dan Akerson. Akerson, 61, has served on the board of directors for just over a year. He will become CEO on September 1 before becoming chairman of the automaker by the end of the year. Until then, Whitacre will stay on as GM’s chairman. “My goal in coming to General Motors was to help restore profitability, build a strong market position, and position this iconic company for success,” said Whitacre in a statement released to the media. “We are clearly on that path. A strong foundation is in place and I am comfortable with the timing of my decision.” Not an industry figure Akerson is relatively new to the auto industry. Prior to joining GM’s board, he was the managing director of the Carlyle Group in Washington, D.C. He has also served in high level positions at General Instrument, MCI, Nextel and XO Communications. A graduate of the U.S. Naval Academy, Akerson boasts a bachelor of science in engineering and a masters in economics from the London School of Economics. “There are remarkable opportunities ahead for the new GM, and I am honored to lead the company through this next chapter,” said Akerson in a statement. “Ed Whitacre established a foundation upon which we will continue building a great automobile company.” link: http://www.leftlanenews.com/breaking-gm-selects-board-member-as-new-ceo.html

Whitacre to step down as CEO Sept. 1; board member to take over David Shepardson / Detroit News Washington Bureau Washington -- General Motors Co. CEO Edward Whitacre Jr. will step down as CEO on Sept. 1 -- and a GM board member, Dan Akerson, will take over. Akerson is a long-time senior executive at the Carlyle Group, where he is managing director and head of global buyout. He was one of the board members named by the Treasury Department after it acquired a 61 percent stake in GM. He will be the second straight GM CEO with no executive experience in the auto industry and with a telecommunications background. "Dan brings broad business experience, decisive leadership and continuity," Whitacre said, vowing a "smooth" and "seamless" transition. Akerson also previously served as CEO of XO Communications and chairman of Nextel Communications. He is also a former chairman and CEO of General Instrument Corp. Whitacre, 68, will step down after just 10 months on the job after the board forced out Fritz Henderson last December. Whitacre, who joined the GM board as chairman in July 2009, said he had been planning to step down for sometime. He said Akerson has played a "big role in the key decisions and changes at the new GM." "I am very comfortable with my timing," Whitacre said. Whitacre will remain as chairman until the end of the year, when Akerson will also assume the title. "We still have important work ahead of us," Akerson told reporters, saying he shares "a common vision" for GM's future with Whitacre. Akerson said GM "still has important work ahead of us but I'm confident that we're building the foundation for GM's long-term success." From The Detroit News: http://detnews.com/article/20100812/AUTO01/8120437/1148/auto01/Whitacre-to-step-down-as-CEO-Sept.-1--board-member-to-take-over#ixzz0wPO26vFc

GM CEO Whitacre to step down Sept. 1; Daniel Akerson named to top spot David Barkholz Automotive News -- August 12, 2010 - 10:52 am ET DETROIT -- Ed Whitacre is stepping down as General Motors Co. CEO on Sept. 1. He will be replaced by Daniel Akerson, who joined the GM board in July 2009 after a long career in telecommunications. Akerson, 61, has been head of global buyouts for private equity firm The Carlyle Group since July 2009. His career was highlighted by stints as chairman and CEO of XO Communications from 1999 to 2003. He was CEO of Nextel Communications Inc. from 1996 to 1999 and also was chairman of the company's board from 1996 to 2001. Whitacre, 68, said he would stay on as chairman until Dec. 31. When he leaves, Akerson will become chairman as well, Whitacre said during a conference call with analysts and reporters this morning. Whitacre said the GM board has been aware since he joined GM in December that he didn't want to stay a day longer than he had to. He said he and the board had complete confidence in Akerson, who has kept close tabs on operations since he joined the board in July, 2009. Akerson said he and Whitacre share a common vision for GM. He declined to list priorities or comment on any additional changes in management, except to salute Whitacre for the overhaul he's made and the strong management cadre currently in place. "It's a broad and deep bench," Akerson said. Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100812/OEM02/100819957/1178#ixzz0wPFAFAvp

Russian auto sales jump 45+ percent in June, July By Mark Kleis Like the U.S. and other global auto markets, Russia faced a steep decline in auto sales during the economic instability of 2009, and now the market appears to be showing signs of recovery after posting two consecutive months of increased sales nearing 50 percent compared to 2009. The Association of European Business (AEB) has reported the latest auto sales in Russia, and according to a report by Reuters, for the month of July Russia moved 173,171 new cars from dealer lots, narrowly missing the performance in June that resulted in 174,838 sales. These increases, compared to the same months in 2009, represent increases of as much as 48 percent. But analysts and executives in the auto industry, including AEB member and Volkswagen vice president Martin Jahn, warn that the strong surge in auto sales may only be temporary, boosted by a government scrappage program similar to the Cash for Clunkers program used in the U.S. last year. In addition to the government scrappage program nearing an end, the country of Russia is currently being ravaged by a severe heatwave and drought, worse than any on record for the past several decades. “In August and September there may be some slowdown due to holidays on the majority of Russian factories as well as emergency weather conditions in several regions of central Russia,” Jahn said. As if the drought and heatwave were not enough, several massive forest and peat moss fires are also raging out of control, with toxic smoke killing hundreds of citizens and closing down industrial centers. As a result, Reuters is reporting that Russia’s nationwide economic growth may suffer an entire point in losses – another blow to the recovery effort from the worst recession in 15 years. Total auto sales are up 9 percent for 2010 compared to their 2009 levels, which on an annualized basis were cut in half compared to 2008. link: http://www.leftlanenews.com/russian-auto-sales-jump-45-percent-in-june-july.html

Check for rust underneath, find out what if any major work has been done. If not they make an effort. It is an Oldsmobile. It is a base Eighty Eight with options. Go for it. I am sure it has the 165 hp 3800 V6.

Mitsubishi i-MiEV a preview of automotive future It happened on Detroit's East Side: A driver in a Smart car waved at me. He saw what I was piloting, and it was a sign of the highest respect. What prompted this in-the-club type response from someone committed to saving the planet one fuel-sipping mile at a time? The answer is a car not even sold in the United States: the Mitsubishi i-MiEV. The name stands for Mitsubishi Innovative Electric Vehicle, based on the Mitsu's "i" minicar. The i-MiEV became available for lease in Japan last summer. Since Mitsubishi is bringing the i-MiEV state side in late 2011, they've brought a small fleet of right-hand drive vehicles over here to gauge how American's will respond. I was one of their guinea pigs. Looks like the future Being a horsepower junkie, I had doubts that I'd warm to the eco-minded Mitsu. I also wondered how Detroiters would react. From any angle, the i-MiEV looks like the future of automobiles, at least the practical future. The cold-capsule shaped body grows on you. Inside, the tall exterior profile provides huge headroom and ample space for four adults. Grocery bags fit in the cargo area, accessible via the rear hatch. So where's the engine? First, there's no hood and second, there's no engine. One properly calls it a "motor" because it's electric, and it's under where you'd put your groceries. Under-floor modules store 88 lithium-ion cells that release 330 volts on demand. A traditional-looking fuel door hides the charging port. The i-MiEV comes with a custom 110/220-volt extension cord. Recharging the batteries takes about 14 hours on 110-volts and about half that on 220. Once behind the wheel, the i-MiEV's refinement banished my expectations of it being a fancy golf cart. This is a real car with real performance that can function in a real driving environment. What proved this to me was my first outing, a Grosse Pointe-to-Birmingham round trip with multiple stops. The day's 85-degree temperatures and nearly equal humidity didn't do the i-MiEV any favors. Running the AC on an electric vehicle dramatically increases power consumption, reducing driving range. Knowing that electrics do better in city driving with modest speeds and frequent stops (allowing for battery charging through regenerative braking), I took Eight Mile to Woodward. The AC blew cold while the i-MiEV easily kept pace with traffic. The electric drive system is so eerily quiet that I had to keep checking my velocity to make sure I wasn't speeding. The ride was civilized and comfortable. In a word, the cross-town drive was effortless. What was even better than the i-MiEV's performance was people's reaction to it. It cleared B-Ham's book and hobby shop, Auto Zone. The guys were standing around with their hands in the pockets, just like they were looking at a vintage Hemi 'Cuda. Questions flew. The same thing happened at Ray's Ice Cream. Another stop was Troy's automotive skunk works, Specialized Vehicles Inc. Like a typical car guy, owner Mike Koran (former manager of the Motown Missile) wondered how fast his shop could make the Mitsu go. Top speed exceeds 70 mph In its current state, the i-MiEV isn't a rocket, but it hits 60 mph fast enough and has a top speed of more than 70 mph. I drove back east on I-696, quickly depleting the batteries, but hit the driveway with several kilometers showing on the range gauge. Knowing we were going out to dinner, I unplugged my lawn mower because my garage circuit could only handle 15 amps. Welcome to the future. From The Detroit News: http://detnews.com/article/20100805/OPINION03/8050341/1148/auto01/Mitsubishi-i-MiEV-a-preview-of-automotive-future#ixzz0vjpOsujF

Europe's carmakers face an anxious second half August 3, 2010 - 12:01 am ET European automakers have been buoyed by better-than-expected first-half results as the region's car sales largely held steady despite the phasing out of government incentives, but the good news won't last much longer. Volume manufacturers selling cars in Europe believe the second half of the year will be difficult due to the ending of incentives and the introduction of tough austerity measures in European countries hit by fiscal crises. What's worrying companies is that they are not sure how bad it will be. Credit Suisse's David Arnold said: "The question is how does the second half play out. The implications for the second half and 2011 are what everyone wants to understand." Credit ratings agency Fitch Ratings pointed out that virtually all carmakers have raised their guidance for the full year, typically from a very low base, after robust results for the first half, but they also confirmed a lack of visibility for their second-half performance. Volkswagen last week posted a first-half operating profit of 2.8 billion euros, up from 1.2 billion euros a year ago, and revealed it had a cash pile of 17.5 billion euros, but the company warned the strong growth it saw in the first half "would not continue undiminished." Renault, which posted a first-half profit of 780 million euros compared with a 620 million-euro loss a year earlier, said pricing pressure would likely increase in the second half as the business environment remained uncertain, while raw material price rises would have a negative impact of up to 300 million euros over the rest of the year. Chief Operating Officer Patrick Pelata said there was "limited ability to predict the fourth quarter thanks to a high level of uncertainty in the region." Automakers still expect European car sales to fall steeply in 2010 compared with last year, but their forecasts are a little more optimistic than earlier this year. Fiat CEO Sergio Marchionne predicts a 10 percent drop in Europe's car market in 2010, an improvement on his April forecast of a 15 percent decline. PSA now sees the European market falling 7 percent, compared with a previous forecast of a drop of 9 percent. Renault said it expects a full-year European market contraction of between 7 percent and 9 percent. Read more: http://www.autonews.com/article/20100803/BLOG09/308039927/1193#ixzz0vdktik6l

Nanotech Standards Coming to European Auto Industry By Keith Nuthall and Mark Rowe WardsAuto.com, Aug 2, 2010 9:00 AM As auto manufacturers start to realize the utility of incorporating parts and components using nanotechnology to improve their performance, the European Union is looking hard at special regulations to protect the public and the environment from nanoparticles. These miniscule materials are a double-edged sword. They allow plastics, textiles, alloys and coatings to have new and highly marketable properties, but they also can behave in unexpected ways, passing through human skin into the blood or even brain. How they interact with nature is not understood well by scientists. But before rules can be framed for auto makers and their suppliers on how they handle, research, develop and manufacture nanomaterials, a definition of nanoparticles is required. The Joint Research Centre of the European Commission – its science and research arm – is recommending nanoparticles be considered between 1 and 100 nanometers. Nanotechnology already is being used in car parts and components, including tires. Lanxess, a German chemicals company, has used nano-sized particles made from polymerized styrene and butadiene, the traditional tire rubber raw materials, to manufacture tires that are longer-lasting and grip the road better. “Our Nanoprene rubber is being tested by a lot of companies worldwide for different types of tires,” says Werner Obrecht, rubber expert at the Technical Rubber Products business unit of Lanxess. “The additive prolongs the mileage of the tires by 15%, enhances grip by the same amount and also reduces rolling resistance.” InMat Inc., a New Jersey-based company, has developed a coating for tires that mixes nanoparticles of clay with plastics and conventional synthetic rubber. The smaller nano clay particles dramatically reduce the rate at which oxygen can escape, which means the tires depreciate much more slowly. Mercedes uses PPG’s nano-based paint on some models. BMW has produced a catalytic filter for diesel cars coated with carbon nanotube membranes that break up hydrocarbon deposits created by burnt fuel re-entering the combustion chamber. Such filters can remove up to 99% of particulates with diameters of less than a micrometer. Paints are coming into commercial production that use nanotechnology to migrate silicon particles to the outer surface of the coating, creating an extremely thin, hard, glass-like surface three times more scratch-resistant than conventional non-metallic or metallic paints. U.S.-based PPG Industries Inc. has produced a nano-based scratch-free paint, CeramiClear, in collaboration with Mercedes-Benz. As for regulations, the industry worldwide needs to be mindful of potential end-of-life requirements, and not just in Europe. “The technology is new enough that we are not yet looking at tires or car bumpers that have nano elements and which have reached the end of their lives,” says Sally Tinkle, senior science advisor to the National Institute of Environmental Health Sciences in the U.S. “But we understand the immediacy of these questions and the need to protect public health and the environment.” link: http://wardsauto.com/ar/nanotech_standards_european_100802/

I am so sorry. Dang... That is so wrong. This is why GM is having a hard time rebuilding its image. Why didn't he just do it right the first time.

Yes, I am real. Alive as ever. I have been the one posting all those videos and news every day. Scary and funny people think it was a bot. I read, edit, and put all the posts together day. Be sure to check every thread daily or my name for all the latest news. I have been low key on my return and play to stay that way. It has not been a bot. This is the funniest thing this year so far.

You are welcome. I noted the whole conformity aspect and the just how much that guy lost himself in striving for perfection. Perfection does not exist.

I forgot your wheels were aftermarket. They do look factory. Now.. I did not know about the base Intrepid. I know those LHS and Concordes used to come loaded. I know the Concorde used to offer a bench seat. Those second generation LHS were quite roomy. I remember when they first came out too.

That was interesting. A lot of people are like that. They do things because it is tradition or it is what makes them accepted. People feel this need to be accepted or loved or be a part of the whole. It is also sad how people lose themselves in an identity too that was developed by someone else. Thank you for the read. In a way it reminds of of the people who bought Toyotas or some aspects of the auto industry.

I like keeping things OEM too. I think some of the aftermarket stuff can be a distraction as well.

Nice work and efforts and upgrades. I find little things like that fun.

Nissan, Hyundai profits soar; U.S., China seen slowing July 29, 2010 - 4:16 am ET SEOUL/YOKOHAMA, Japan (Reuters) - Nissan Motor Co. and Hyundai Motor Co's forecast-beating quarterly profits may prove tough to match in the second half as robust sales in China and elsewhere start to slow. A patchy recovery in the U.S. market has become one of the biggest concerns for the auto industry, especially Japanese automakers, which rely heavily on the region for its profits. Nissan, Japan's No.3 automaker, reported its strongest quarterly operating profit in more than two years as sales surged, but it left its cautious guidance unchanged amid an increasingly murky outlook for demand. Hyundai, the world's No.5 car maker with affiliate Kia Motors Corp., beat forecasts with a record quarterly profit, helped by strong sales of models such as the Sonata sedan and Santa Fe sports utility, as well as weakness in the Korean won. South Korea's top automaker plans to launch a revamped version of its best-selling compact car Elantra in August and the Azera sedan later this year. "The launch of new models will only have a limited effect in the short term, and we cannot see it as a solution for worsening demand," said Jung Sangjin, an asset manager at Dongbu Securities in Seoul. Nissan, held 43 percent by France's Renault SA, has outperformed the industry's growth especially in China, the world's biggest market, so far this year thanks to a model line-up more suited to local tastes. Nissan is also aiming to boost its global market share this year with sales growth of about 8 percent to 3.8 million units, driven by the revamped Micra/March subcompact, Juke crossover, and other new models including the much-hyped Leaf electric car. "First-quarter results for Nissan are good and our recovery is vigorous and ahead of schedule," CEO Carlos Ghosn said in a statement. "Despite uncertainty surrounding the ongoing global economic recovery, raw material costs and exchange rate volatility, we are confident to achieve our 2010/11 forecast." Nissan shares, down about 15 percent this year, closed up 1.8 percent before the results, while shares of Hyundai fell over 2 percent at one point and closed down 0.7 percent. Since the beginning of the year, Hyundai shares have risen about 20 percent, versus a 5 percent gain in the wider market. "After a series of bullish earnings, market focus now is whether the second quarter might have been the peak," Oh Hyun-Seok, a market analyst at Samsung Securities in Seoul, said of Hyundai's earnings. China key Under CEO and Chairman Chung Mong-Koo, Hyundai was one of the rare winners in the global financial crisis, winning market share with its lineup of cheap, cleverly marketed cars and SUVs. Both Nissan and Hyundai have done well in China, but the economy there is slowing and industry sales growth is falling. Other big markets are also struggling. "Global car sales in the second half are seen slowing slightly from the first half due to fiscal crises in some European countries, the end of governments' incentives on new car purchases and higher interest rates," Hyundai executive Vice President Lee Won-hee told investors. Hyundai reported a 71 percent rise in net profit to 1.39 trillion won ($1.17 billion) in the second quarter, compared with a consensus estimate of 1.1 trillion won. Quarterly operating profit was a record 863.3 billion won, beating forecasts. Nissan confirmed it expects operating profit to grow 12 percent to 350 billion yen ($4 billion) in the year to March, lower than the consensus forecast of 401 billion yen in a survey of 22 analysts by Thomson Reuters. April-June operating profit rose to 167.9 billion yen from 11.6 billion yen a year ago and beating the average 124.7 billion yen estimated by six analysts surveyed by Reuters. Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100729/GLOBAL/307299953/1064#ixzz0v7E5zKno