Word: detroits
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...longer-term problem for oil companies is that the wild swings in petroleum prices are spooking the auto industry. After years of paying lip service to improving fuel economy, automakers finally seem intent on producing alternatives to the internal combustion engine. That was apparent at the Detroit auto show this month, where GM and Ford unveiled advanced battery-powered concept cars such as the Chevrolet Volt and Ford Airstream. Even if the Detroit automakers don't build those models - and they probably won't - they know they need to get higher-mileage vehicles on the road, be it hybrids, hydrogen...
...None of this bodes well for Detroit, of course, or Asian manufacturers like Hyundai and Kia, which largely target budget shoppers. The Chinese cars are expected to carry rock-bottom prices along with generous warranties to ease concerns about their quality and long-term reliability. Since the Chinese exporters have such low labor costs - around $2 an hour - they can afford to pack the cars with standard features like electronic stability control, antilock brakes and rear-view cameras for parking assistance. Nor are the cars being designed with drab proleterian styling. The highly regarded Italian design shop Pininfarina produced...
...ominous as this sounds for Detroit, the flipside is that China represents one of the most promising markets for its products. General Motors' market share in China grew to 12.2% through the first nine months of 2006. GM's main Chinese joint-venture partner, Shanghai Automotive Industry Corp., produces Buicks, Chevrolets, even luxury Cadillac CTS sedans, and in 2006 GM's Chinese sales surged 32% to 876,000 cars and trucks, helping fuel profits in GM's Asia-Pacific region. GM expects sales in China to top 1 million units this year - making it one of the few fast-growing...
...Detroit may also take comfort in knowing that the Chinese cars sold in America will be novelty items at first, and it will take years for the Chinese brands to establish nationwide dealer and service networks. Nonetheless, executives like Chen are optimistic that they'll deliver a product suited to American tastes (and pocketbooks). Liebao is one of the most popular SUVs in China and Chen sees no reason why it can't win over American shoppers too. "When you drive this car," he says of the CS6, "you'll think it has value." Let the great Chinese car race...
...that the incessant ball hogging of the Los Angeles Lakers' Kobe Bryant was anywhere near the achievements made in the postseason by the Redbirds in their first year in the new Busch Stadium. Not only that, but Tony LaRussa managed circles around his longtime friend and protégé, the Detroit Tigers' Jim Leyland. So Bryant scored 81 points in a game, big deal. How many times did he pass the ball...