By on January 20, 2011

“About 13.8 million vehicles were sold in 2010 in China compared with 11.6 million in the United States.”
The Detroit News

Yesterday, we had a short seminar on Chinese new car statistics. Apparently, it was needed. Too bad the Detroit News, Motor City’s hometown newspaper, skipped class. Message to the DetN:  It’s 18 million vehicles. 18,264,700 to be exact.

So where do the 13.8 come from? We know: In 2010, Chinese passenger car sales reached 13.76 million. However, that number excludes “commercial vehicles.” Common mistake. But shouldn’t happen to a Detroit paper.

Dear DetN: If you don’t count the Chinese “commercial vehicles”, then you can’t count the U.S. “trucks” either. You really don’t want to do that.

By on January 6, 2011

Letter to the editor of the New Times by Robert Pankhurst:

“On my drive home yesterday, an advertisement over my car radio told me how much the Cancer Society needed old cars donated to help them fight cancer. Then I remembered watching the Youtube video where cars were turned in for the government program called “Cash for Clunkers.” (Read More…)

By on January 13, 2010

Sympathy for the devil? (courtesy:eurocarblog.com)

Chrysler may file a suit challenging the congressionally mandated dealer cull arbitration, reveals CEO Sergio Marchionne to Automotive News [sub].Why? Because it’s just not fair that dealers pressured congress to give them a fair shake. Wounded by the arbitrary backlash against his arbitrary cull, Marchionne threw his head back and cried unto the heavens:

Ask me what fairness is involved in all this. Why doesn’t anyone ask what’s fair to Chrysler?

(Read More…)

By on January 11, 2010

Yuk it up... (courtesy:DetNews)

It’s a bit early in the day to be crowning a QOTD, especially considering there are sure to be plenty of juicy quotes coming out of the NAIAS today. Still, this one deserves a special place at TTAC for the sheer bold-faced shamelessness of its untruth.

I think (the government bailout was) well placed, and I think they’ll make a lot of money. GM’s on its way back. We’ll be back. The government’s made a good investment. We appreciate their support. We’re glad they’re here.

So said GM Chairman and CEO Ed Whitacre to reporters from the Detroit News today. As I recently explained in an op-ed in the NY Times, unless GM’s market cap soars to its highest level in history (a pipe dream if ever there was one) the taxpayer losses on the GM “investment” will be in the billions. Even the government estimates losses on the GM and Chrysler bailouts to reach $30b. Whitacre surely meant that a GM IPO will generate some kind of money for the Treasury’s 60 percent stake in GM, but the way it came out makes it sound like the bailout will be a positive investment for the government. That’s an impression that GM desperately needs to foster in order to have a chance at emerging from government control. Too bad it’s just an old-fashioned fib.

By on January 4, 2010

Please do not attempt to perform a Google Image search for "Asian Glory" (courtesy:novinite.com)

As soon as the vessel embarks, all risks related to the vessel are the responsibility of the distributor. All payments for the cars have been made, while the cars are also insured.

From a Hyundai statement to Bloomberg on the fate of 2,388 Hyundai and Kia vehicles aboard the Asian Glory, which was hijacked by Somali pirates en route to the Middle East.

By on December 15, 2009

Who wants to be a millionaire? (Courtesy: Getty Images)

A person that’s a motivating, inspirational leader that’s familiar with big companies — manufacturing or industrial — would be helpful… We can’t pay people a whole lot of money here

Ed Whitacre offers up the opportunity of a lifetime [via Automotive News [sub]] : a chance to lead General Motors to victory over decades of inertia and sclerosis in a brutal market for a million bucks (if Feinberg likes you). Candidates need not have CEO experience or strong auto credentials, although Whitacre warns that the job takes him 14 hours a day, 5½ or six days a week. And when he does manage to steal away for a relaxing Sunday of rattlesnake extermination, his phone constantly rings. Plus, the RenCen is a freaking maze, y’know?

(Read More…)

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