Inside the Industry

GM offers incentive to current lease holders

(February 13, 2011) DETROIT — There are numerous incentives available for new-car shoppers this winter, and General Motors has been at the forefront of making deals.

On top of already generous incentives, GM is offering to waive the last three payments on existing leases if holders buy a new car, adding an incentive onto deals that last month exceeded offers made by rivals.

ZL1 — Tracing the legacy of the ultimate Camaro

(February 13, 2011) CHICAGO — Chevrolet announced the 2012 Camaro ZL1, the highest-performing model in the car’s 45-year history and the most technically sophisticated, last week in Chicago.

Until now, the ZL1 designation was never an official model name, but the newest and most high-tech Camaro takes its name from the most exclusive and elite Camaro in history — one that was never intended for production.

Mercedes to unveil new C-Class coupe in Geneva

(February 13, 2011) The 2012 Mercedes-Benz C-Class coupe will debut at the Geneva Motor Show on March 1 and make its way to U.S. showrooms in September.

The 302-horsepower C350 V-6 and 201-horsepower C250 turbocharged 4-cylinder include the progressive technology featured on the upcoming 2012 C-Class sedan, but packaged in a coupe design.

Volkswagen increases sales worldwide by 19.6 percent in January

(February 12, 2011) WOLFSBURG — The Volkswagen Group started 2011 with a strong increase in sales, handing over 644,200 vehicles to customers in January compared to 538,600 in January 2010.

This represents an increase of 19.6 per cent, and means the Volkswagen Group performed noticeably better than the overall market, which grew 12.8 per cent.

Ford to reduce debt by another $3 billion

(February 12, 2011) DETROIT — Ford announced plans this week to reduce its corporate debt levels by another $3 billion with the planned redemption or conversion of preferred securities.

The redemption of the convertible debentures will cut Ford's debt from $19.1 billion at the end of 2010 to near $16 billion.

Suzuki dealer network to utilize iPad sales tool

(February 12, 2011) CHICAGO — American Suzuki this week announced that its most proven sales consultants will soon be equipped with the new SuzukiZone iPad sales tool "in order to deliver a more effective and comprehensive dealership experience."

Nissan begins construction on battery plant in Portugal

(February 11, 2011) Nissan has begun construction of a state-of-the-art, advanced lithium-ion battery plant in Cacia, Portugal to support the rollout of electric vehicles from the Renault-Nissan Alliance in Europe.

The battery plant is being built on a 30,450-square meter plot of land belonging to the Renault CACIA gearbox assembly plant following an investment of 156 million euros ($214 million).

Camaro commercial 'Miss Evelyn's Wild Ride' most watched of all time

(February 11, 2011) DETROIT — According to Nielsen, Chevrolet’s spot for the Camaro made history during Super Bowl XLV was the most-watched television advertisement of all time.

2012 Kia Rio to offer exciting new styling

(February 11, 2011) Sales of the sub-compact Kia Rio slumped nearly 30 percent to 24,000 units in the U.S. in 2010, but that slide should come to an end when the next-generation Rio reaches dealer showrooms late in 2011 or early in 2012.

MotorWeek names Chevy Volt 'Best of the Year'

(February 11, 2011) CHICAGO — Delivering a practical electric car for the masses, the Chevrolet Volt eclipsed the competition to capture MotorWeek’s “Best of the Year” 2011 Drivers’ Choice Award. The honor was announced at the 2011 Chicago Auto Show by MotorWeek, television’s longest running automotive series.