Word: auto
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...including Western Europe and Japan. In Europe, for instance, it's adding 100 new dealerships to aid that effort. Chrysler executives say their minimum goal is to double foreign sales to 400,000 cars within five years. That's an achievable target, according to Jeremy Anwyl, chief executive of auto research website edmunds.com. "They're looking to double from a low base, so they're giving themselves a little wiggle room...
...Europe or the U.S. At the same time, Tata has tapped the skills of Italy's Fiat, with which it has a joint venture in India, and of engine designers from Britain's West Midlands region, some of whom had been jobless after closures in Britain's auto industry over the past few years. Indian producers are relentless cost cutters. Many, including Tata, buy parts through Internet auctions to get the best price. Industry analysts speculate that the One-Lakh Car may revolutionize assembly, with some parts glued together rather than welded or bolted. Even so, Tata officials acknowledge that...
...United Auto Workers pulled down its pickets around General Motors Corp. plants across the United States early Wednesday morning. The union's leadership said it was satisfied with GM's guarantees of job security - the ostensible reason for the strike. The scene is now set for ratifying a labor agreement that would shift GM's liabilities for retiree health care to a Voluntary Employee Benefit Association (VEBA) that would be run by the union itself...
...first time since 1970, the United Auto Workers has launched a nationwide strike against General Motors Corp. The labor stoppage, involving more than 73,000 union members, began at 11 a.m. on Monday after GM and the UAW failed to reach an accord on a contract that could potentially lead to sweeping changes in the financing of health care for retired workers...
Could this deal save the U.S. auto industry? It would certainly help. Once GM sets up a VEBA, Ford will probably follow. Chrysler, which became a privately held company in August and has far fewer retirees, has so far balked. "It's not our issue," says a Chrysler official. The companies can use the freed-up cash to spend on developing and selling better cars to take on Toyota, which this year surpassed GM in sales. But that's in the long run. In the short run, funding the trust could put carmakers in a tighter cash squeeze unless they...