German premium automaker, BMW AG, has raised its 2010 pretax profit and sales forecast. The company cited better-than-expected earnings and higher demand for luxury automobiles in a number of global markets.
On Monday, UAW president, Bob King, announced that active and retired union members have begun picketing Toyota dealerships in California and New York. The protests, he said, are to bring attention to Toyota’s closing of the New United Motor Manufacturing Incorporated (NUMMI) plant in Fremont, California and to pressure it to allow unionization of its other U.S. plants.
Microsoft Corporation Chairman Bill Gates and venture capitalist Vinod Khosla have invested $23.5 million in Series B funding in EcoMotors International for use in development and testing of its trademarked opposed piston-opposed cylinder opoc® engine technology.
President of Mitsubishi Motors Corporation, Osamu Masuko, has definite plans to revive falling U.S. sales. Overall, the auto industry in the U.S. is up 17%; however, Mitsubishi’s sales have been flat, and its market share has gone down from 0.6% to 0.5%.
In May, Toyota Motor Corporation and electric-car startup Tesla Motors Incorporated launched a new partnership to build battery-powered electric vehicles. According to a source familiar with the matter, the new venture will use Toyota’s RAV4 and Lexus RX models as the platforms for their first test models.
To bolster its sagging sales, Smart has launched a customization program for owners of its ForTwo minicar. The program allows owners to customize their vehicles using either vinyl exterior wraps or by replacing the six interchangeable body panels.
As most other major automakers have struggled to survive the recent U.S. recession, Subaru is among the few to actually grow its sales and gain market share. Now, the automaker is focusing on improving its designs to broaden its appeal and build on its recent gains.
Since killing the Pontiac brand, General Motors Company’s customer retention efforts have been on migrating orphaned customers to the Chevrolet brand. For some Buick-GMC dealers, the loss of the Pontiac brand has been a bitter pill to swallow.
For months, Nissan Motor Company has been claiming that its new Leaf battery electric car will have a range of 100 miles under typical driving conditions. Now the automaker says the Leaf’s actual range may be only half that under certain driving conditions which most consumers would consider typical.