Word: gm
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Dates: during 2000-2009
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...year low last year, with little sign of picking up in 2009. Toyota announced on March 11 that 4,500 workers at its British factories would see their pay and hours slashed 10% for a year starting in April. The German and British governments are still in talks with GM over potential aid for the U.S. automaker's beleaguered European subsidiaries, Opel in Germany and Vauxhall in the U.K. GM says it needs some $4.2 billion to save its businesses in the region. (See pictures of workers at GM...
...Automobile Manufacturers, representing both foreign and domestic nameplates. Adds Eric Fedewa, vice president at CSM Worldwide, a forecasting firm based in Northville, Mi.: "Our analysis suggests that allowing California and other states to regulate CO2 emissions, and thus fuel economy, will further damage companies that are struggling, like GM, Ford and Chrysler, and much of their supply base, and potentially destabilize relatively healthy companies like Toyota and Nissan." Asian and European carmakers typically enjoy better fuel economy than the Big Three, but they fear the California rules will impede sales of luxury sedans, trucks and SUVs, which are much more...
...However, Jim Kliesch, senior engineer with the Union of Concerned Scientists, argues that the industry can meet California standards with relatively modest improvements to the traditional internal combustion engines, especially if the automobile fleet continues to absorb more hybrid and electric vehicles. Bob Kruse, executive director of GM's Chevrolet Volt, said this week that the Volt hasn't gotten an EPA rating yet. But under current test procedures it could get a rating of better than 100 miles per gallon because it uses electricity rather than gasoline to propel the vehicle. The gasoline only would be used to power...
...GM and Chrysler, given the need for federal assistance, have kept a low profile in the fight over the California rules, and are still hoping that the Obama Administration won't grant California the waiver. In a show of Detroit's political savvy, the Big Three have also outsourced much of the current fight over the California rules to the National Automobile Dealers Association, long-time critics of legislation. Dealers say they would wind up enforcing a "patchwork quilt" of state regulations, and that the California approach would force automakers to ration certain popular large models. Dolinger says the patchwork...
...trade" initiative, which is designed to curb both the use of energy and greenhouse-gas emissions across the entire economy. For carmakers, such legislation would be mostly neutral because they earn credit for making electric vehicles and could spend it on cars that emit too much CO2. GM now notes that one-third of the Cadillac Escalades it sell are hybrids, so it would have plenty of currency. Of course, at this point Detroit is hoping for anything that doesn't have California's fingerprints all over...