Inside the Industry

Kia will not offer full-sized SUV Borrego for 2010 model year

(December 30, 2009) The 2009 full-sized Kia Borrego truck-based sport utility will not be offered for the 2010 model year after just one year on the market, Kia says.

The Borrego arrived late in 2008, a victim of poor timing. Kia had hoped to sell up to 20,000 Borregos each year, but the U.S. launch coincided with high gas prices and the financial crisis that together, slashed SUV sales to half their 2007 levels.

GM recalling 2005 through 2007 Corvettes because roof panel may blow off

(December 30, 2009) General Motors is recalling Chevrolet Corvettes from the 2005 through 2007 model years because the roof panel may blow off.

The recall covers Corvette coupes with the removable roof panel. There's a problem with the adhesive that bonds the plastic roof panel to its frame. If the bond breaks, the roof panel could go flying off while driving.

There are clues to the problem, such as a snapping noise from the roof when driving over bumps, water leaking from the headliner, or the roof panel moving when the door is closed.

Camaro fighter — Ford reveals 412-horsepower 5.0-liter V-8 for 2011 Mustang GT

(December 29, 2009) DEARBORN, Mich. — The 5.0 is back! The 2011 Ford Mustang GT arrives with an all-new advanced 5.0-liter V-8 engine, developed by a passionate cadre of enthusiastic engineers who rallied around the common goal of delivering more than 400 horsepower.

The modern 5.0-liter four-valve Twin Independent Variable Camshaft Timing (Ti-VCT) V-8 engine in the new Mustang GT will deliver 412 horsepower and 390 ft.-lb. of torque. At the same time, fuel economy is projected to be better than the previous model and unsurpassed in the segment.

General Motors offering dealers big incentives to move Saturn and Pontiac vehicles

(December 29, 2009) General Motors is offering huge incentives to its dealers to speed up the sales of leftover inventory from its Saturn and Pontiac brands, that can push up the automaker's December sales, The Wall Street Journal has reported.

In a letter to its dealers, GM said it would pay $7,000 for every new Saturn or Pontiac on their lots that is moved to rental-vehicle or service-vehicle fleets, according to the newspaper.

Ford's hybrid sales are up 67 percent in 2009

(December 27, 2009) Despite a 11 percent decline in hybrid sales across the industry, Ford’s year-to-date hybrid sales are up 67 percent over the same period last year. And the company is on track to set a new hybrid sales record for 2009.
 
“Hybrid customers increasingly are considering Ford,” said George Pipas, Ford sales analyst.  “And we are seeing a growing number of conquest sales, many of them from customers coming from import brands, mostly Toyota and Honda.”
 

Toyota predicts a 17 percent increase in global production in 2010

(December 27, 2009) Toyota expects a 17 percent increase in its 2010 global production, excluding Daihatsu and Hino Motors units, from this year to about 7.5 million units, Japanese media reported today.

The move comes as recovery signs of the economy emerge in Japan, the United States and Europe.

Ford to introduce new turn signal technology

(December 27, 2009) DEARBORN, Mich. — Does the sight of a blinker flashing on the car in front of you for miles and miles drive you crazy? You’re not the only one.
 
This annoying habit is so frustrating to drivers that it made the “Top 10 Driving Pet Peeves” list by a leading vehicle insurance company, which surveyed thousands of drivers nationwide. Nicknamed Morse Coders in the survey, these drivers often cruise for miles without realizing their blinker is on. Meanwhile, they are annoying everyone behind them.
 

Volvo XC60 R-Design to start at $41,550

(December 26, 2009) Volvo Cars of North America has announced pricing of the exciting XC60 R-Design starting at $41,550. The introduction of the XC60 R-Design makes the premium crossover Volvo's sixth vehicle to offer the dynamic visual appeal and exceptional driving experience afforded by the R-Design package.

Toyota seeks to cut costs for auto parts by 30 percent

(December 23, 2009) Toyota plans to cut auto parts procurement costs by around 30 percent over three years to help it regain profitability, media reports said today.

Toyota has asked its suppliers to cut prices of some parts by 30-40 percent for cars that will hit the market by 2013, the Asahi daily said. The Nikkei business daily also said Toyota plans to switch to less expensive materials and parts.

Ford, China's Geely agree on sale of Volvo

(December 23, 2009) Ford confirmed today that all substantive commercial terms relating to the potential sale of Volvo Car Corporation have been settled between Ford and Geely Holding Group of China.

While some work still remains to be completed before signing — including final documentation, financing and government approvals — Ford and Geely anticipate that a definitive sale agreement will be signed in the first quarter of 2010, with closing of the sale likely to occur in the second quarter 2010, subject to appropriate regulatory approvals.