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'08 auto show adds 5 Chinese manufacturers

In a bold display of intent to become major players on the global automotive scene, five Chinese vehicle manufacturers will bring cars and trucks to Detroit for display at the 2008 North American International Auto Show in January, according to Detroit Free Press columnist Tom Walsh.
Only two Chinese automakers have previously exhibited at the Detroit show -- Geely Automobile Co. in 2006 and Changfeng Group this year.

Posted by Peter C. T. Elsworth  at 11:37 AM to China | Permalink | Comments 0

Credit crunch may hurt auto sales

DETROIT — August car sales could be down 10% compared with a year ago as the mortgage credit crunch makes homeowners feel less secure and unwilling to sign on for another large monthly payment, according to Edmunds.com and reported by USA Today.
Edmunds.com estimates that sales will be down about 10% compared with last August, even as the automakers continue to pile on incentives to lure customers. Auto sales are particularly weak in regions such as Florida, Nevada and California, where the housing market also is being hard-hit.

Posted by Peter C. T. Elsworth  at 11:30 AM to Sales | Permalink | Comments 0

Automakers go hatchback to the future

The next shape in cars comes close to how most people might like to chisel their own bodies — broad shoulders and a shapely rear end, according to USA Today.

Nissan's Infiniti just unveiled its EX35 luxury crossover that points to the look of things to come in automotive design, a small hatchback that blurs the differences between SUV and sedan.

Revealed at an automobile gathering south of San Francisco, EX35 stands tall and confident from the front like an SUV. But the roofline arcs to a slope over the back seat and cargo area.

Think of it as an SUV without the U. It's sporty. And it's certainly a vehicle. But utilitarian? Nah, not really, not without the ability to carry more.

Posted by Peter C. T. Elsworth  at 11:28 AM to Design | Permalink | Comments 0

Energy Futures Up on Inventory Report

NEW YORK -- Energy futures jumped after the government reported larger-than-expected declines in gasoline and oil inventories and an unexpected decline in refinery activity, according to the Associated Press.

Light, sweet crude for October delivery rose $1 to $72.73 a barrel on the New York Mercantile Exchange, while September gasoline rose 4.01 cents to $2.0555 a gallon on the Nymex.

In London, October Brent crude rose $1.05 to $71.60 a barrel on the ICE futures exchange.

Posted by Peter C. T. Elsworth  at 11:24 AM to Oil | Permalink | Comments 0

DaimlerChrysler's 2Q Profit Fell 14 Pct

FRANKFURT, Germany -- DaimlerChrysler AG said Wednesday that its second-quarter profit fell 14 percent and disclosed plans to spend about $10.2 billion buying back nearly 10 percent of its shares as it moves forward without its Chrysler division, according to the Associated Press.

DaimlerChrysler's profit decline excluding results from Chrysler and its finance arm - which did better in the latest quarter than a year ago - was a steeper 20 percent.

Posted by Peter C. T. Elsworth  at 11:21 AM to Chrysler | Permalink | Comments 0