May 2010

Toyota suspends sales of eight models, shuts down assembly plants

(January 27, 2010) Toyota has suspended sales of eight models as its assembly plants wait for redesigned replacements for faulty accelerator pedal mechanisms.

The sales halt will be followed by a production shutdown next week at five North American plants, Toyota said late Tuesday. The factories produce the cars and trucks that were among the 2.3 million Toyota recalled last week to fix accelerator pedals that are prone to stick.

Hyundai posts record quarterly profit

(Jnuary 28, 2010) Hyundai posted a record quarterly operating profit as its small cars proved popular with recession-weary buyers and, with Toyota facing an image crisis, analysts said the South Korean automaker should keep its edge over rivals this year.

The maker of the Sonata sedan posted October-December operating profit of 837.2 billion won ($728.4 million), up 44 percent from a year earlier and 29 percent above a consensus forecast on Thomson Reuters I/B/E/S.

Ford posts fourth-quarter profit, swings into black for entire year

(January 28, 2010) DETROIT — Ford posted a fourth-quarter profit today and swung to a profit for the year with the help of accounting gains while forecasting an operating profit for 2010. Ford had previously said it would not be “solidly profitable'' until 2011.

GM confirms binding agreement between Spyker Cars and Saab

(January 27, 2010) Saab fans rejoice. Their beloved Swedish cars will be saved from the dustbin of history, saved from the same fate that befell Pontiac and Saturn.

General Motors and Spyker Cars today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

Honda begins operation of next-generation solar hydrogen station for home use

(January 27, 2010) TORRANCE, Calif. — Honda today began operation of a next generation solar hydrogen station prototype at the Los Angeles Center of Honda R&D Americas, Inc., intended for ultimate use as a home refueling appliance capable of an overnight refill of fuel cell electric vehicles.

GM to become first major U.S. automaker to design, manufacture electric motors

(January 26, 2010) GM will expand its in-house electric vehicle development capabilities by becoming the first major U.S. automaker to design and manufacture electric motors, a core technology for hybrids and electric vehicles.

Toyota remains world's largest automaker; GM retains title in U.S.

(January 26, 2010) Toyota remains the world’s largest automaker, according to sales data released Monday in Tokyo. Vehicle sales for Toyota and its affiliated brands, including Lexus, Daihatsu and Hino, totaled 7.81 million vehicles worldwide for calendar year 2009, compared with 8.97 million vehicles a year earlier.

Overall, sales declined by 13 percent compared to 2008, particularly in the United States and Japan, Toyota’s two biggest markets. Sales increased in China, which passed the U.S. as the world’s largest auto market last year.

Whitcare to become permanent CEO of General Motors

(January 26, 2010) DETROIT — Edward E. Whitacre, Jr., has agreed to continue as chairman and CEO of General Motors for an indefinite period, it was announced today.

Speaking at a press conference at GM’s headquarters, Whitacre also expressed the GM board’s commitment that the company will pay back in full the U.S. Treasury and the Canadian and Ontario government loans by June.

Washington will be one of three initial launch markets for Chevrolet Volt

(January 26, 2010) WASHINGTON — Chevrolet announced that greater Washington D.C. will be an initial launch market for the Chevrolet Volt electric vehicle with extended range. The nation’s capital and its suburbs join California and Michigan as the initial retail markets where Chevrolet will sell the Volt to consumers.

J.D. Power reports compact CUVs turn nearly three times faster than in prior year

(January 25, 2010) During the fourth quarter of 2009, compact crossovers (CUVs), including best-sellers Honda CR-V, Ford Escape and Toyota RAV4, remained on retailer lots an average of only 27 days before being sold, which was significantly down from an average retail turn rate* of 74 days in the same quarter of ’08, according to Power Information Network (PIN) retail transaction data from J.D. Power and Associates.

A few more compact CUV demographic and sales highlights: