Archived Auto News and Events for October 2009

BMW, SGL to Make Carbon Fiber Components
As the result of a new joint venture between BMW AG and the SGL Group, which specializes in carbon fiber components, two plants will be built in North America and Germany to produce lightweight parts on a large scale for BMW's planned electric vehicle, the Megacity.

Improved Auto Sales Fuel 3Q Economic Growth
On Thursday October 29, the U.S. Commerce Department sent a long-awaited message to the American public, announcing a 3.5 percent growth rate in the third quarter, an improvement more than a year in the coming.

Chinese Company to Acquire Volvo from Ford
Although no decision has yet been made, Ford announced on Wednesday, October 28 that the Geely Group Holding Co. of China is its preferred bidder for the purchase of the Volvo Car Corp.

Fisker Automotive Slated to Buy Shuttered GM Plant
According to a story by Richard Truett for Automotive News Fisker Automotive is set to buy a now-shuttered General Motors plant in Delaware for $18 million and retool the facility to construct plug-in hybrids with a United Auto Workers labor force.

2010 Dodge Rams Coming in for Less than 2009 Offerings
The new 2010 Dodge Ram 2500 and 3500 heavy-duty pickups will arrive on showroom floors with prices lower than their predecessors for the base models.

The 2500 Ram regular cab 4x2 equipped with a 5.7-liter Hemi V8 will open (with shipping) at $28,165, about $1,970 less than the 2009 while offering more equipment.

Impending Demise of Chrysler Financial Justifies Salaries
In a statement issued by Kenneth R. Feinberg, the Obama administration's so-called "executive-pay czar," Chrysler Financial will wind down its business by the end of 2011 under the direction of the U.S.

Analysts Predict Economic Indicators Point to Recovery
As reported by Reuters, CSM Worldwide, an industry tracking firm, has predicted that auto sales in the United States will rise by one-fifth in 2010, reaching 11.8 million units.

Nissan Turning Around Its Financial Losses
In an article by Lindsay Chappell for Automotive News , a Nissan executive said the company's special task force on financial losses will be disbanded soon with its mission fully accomplished.

Ford Expected to Beat 3Q Earnings Estimates
According to a report by Reuters, an analyst at Barclays, Brian Johnson has upgraded Fords stock to equal weight from underweight predicting the company may well beat earnings estimates for the third quarter.

Three-Wheeled Vehicles to Be Eligible for Federal Funding
A bill on its way to the White House for President Barack Obama's signature will allow three-wheeled, fuel efficient vehicles, like those made by Aptera motors and Elio Motors, eligible to receive federal funding through the Energy Department.

GM Near to Inking Deal to Sell Opel
According to reports from the German newspaper Die Welt , General Motors will ink a deal next week to sell a 55 percent stake in Opel to Magna International Inc, a Canadian supplier, and its Russian partner firm, Sberbank.

Buick Regal Nameplate Returning After Six Years
On Wednesday, October 14, 2009, Buick announced that the Regal nameplate would be returning, set to christen the automaker's latest mid-size sedan expected to arrive on showroom floors late in 2010 or early in 2011.

Ford Issues Largest Recall in U.S. History
On Tuesday, October 13, Ford announced a recall affecting 4.5 million vehicles, the eighth and final recall the company has issued over the past ten years addressing defective cruise-control deactivation switches made by Texas Instruments that may present a fire hazard.

GM Revamps Four Plants, Restores 500 Jobs
General Motors announced on Tuesday, October 13 that it will re-tool and update four plants in the vicinity of Flint, Michigan to assist in the construction of the 2011 Chevrolet Volt plug-in hybrid and the Cruze compact, with an investment of $230 million and the restoration of approximately 500 jobs.

Nissan to Recall Select Models for Tire Monitoring System Fault
The National Highway Traffic Safety Administration announced on its web site on Monday, October 12, 2009 that approximately 143,000 Nissan cars would be recalled to replace a fault in their tire-pressure monitoring system.

Audi to Produce ETron All-Electric Sports Car
After creating intense interest at the Frankfurt Motor Show in September 2009, Audi has confirmed that the E-tron electric sports car will go into production and will reach consumers in two to three years.

GM Sells Excess Brands, Works on Market Share
In a report published in Automotive News General Motors said it is well on target to reach the financial targets set by the government as terms of the company's bankruptcy, but risks are still inherent as the troubled automotive giant works to bolster sales and gain consumer confidence.

LaNeve to Leave General Motors
During a morning conference call with reporters, General Motors CEO Fritz Henderson announced that Mark LaNeve, head of sales for the company in the U.S., will resign effective October 15.

Chrysler and Lancia Brands to Merge in Europe
In its continued bid to rehabilitate the troubled Chrysler brand, Fiat S.p.A. plans to closely integrate Chrysler with its high-end Lancia line overseas via shared products ranging from hatchbacks to larger sedans.

Chrysler Announces Internal Leadership Changes
In its continued efforts to rehabilitate in the wake of bankruptcy proceedings, Chrysler Group has announced internal leadership changes and the creation of a new brand, Ram, for its trucks.

September Auto Sales Slump as Federal Program Ends
With the federal cash-for-clunkers program a thing of the past, automakers saw their September sales slump once again with both General Motors and Chrysler group down more than 40 percent.

Bly Becomes Head of Chevy Volt Project
On Wednesday, September 30, 2009 Bob Kruse, a chief architect of the highly anticipated Chevrolet Volt, a plug-in electric hybrid , left the company to found his own consulting firm.