Pininfarina family stake to be sold - Tata potential suitor

Pincar, the company owned by the Pininfarina family may sell its majority stake in troubled design house and coachbuilder Pininfarina. Through Pincar the family holds a majority stake of 50.7%. Selling the piece is a decision taken at a board meeting last week and was part of a debt agreement made with the banks in 2008. The end result would be that Pincar would no longer be the majority owner but at the same time the family would not leave the business completely.


A number of well-known industry names have been touted as possible new partners. One of them is Tata which owns the Tata Motors, Jaguar and Land Rover brands. The Indian company has an existing alliance with Fiat and was mentioned as an investor last year. Being closely related to Pininfarina, a company that has designed some of the most striking Ferraris and Maseratis in the past would certainly give Tata a boost in its design department.


Another possible partner is said to be Bolloré, the French industrial company. Pininfarina is working with them to develop an electric car dubbed, Bluecar. In 2008 founder Vincent Bolloré expressed an interest in becoming one of the shareholders at Pininfarina.


Could Ford also be in the mix? The Italian brand builds the Focus Coupe Cabriolet for the blue oval while another agreement sees it producing the Volvo C70 at a plant in Uddevalla, Sweden.
More Photos



Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Fiat back in the mix as Bertone manufacturing unit goes up for sale

You could say that Fiat's on a bit of a spending spree lately. While everyone else is struggling to trim expenditures and sell off divisions, Fiat's been buying them up. So after moving in at Chrysler's headquarters in Auburn Hills, Michigan, and making offers for GM's European and Latin American operations – including Opel and Vauxhall – it should come as no surprise that the Italian automaker is at it again, this time placing a non-binding offer to acquire Carrozzeria Bertone.


The offer is one of five currently being entertained by Italy's oldest coachbuilder and the courts administering its bankruptcy. Among other bidders reported are Domenico Reviglio (the Gruppo Prototipo chief who was slated to buy the company last year), former Lancia CEO Gianmario Rossignolo, Chinese automaker FAW and an additional unspecified Spanish concern. It is also not the first time Fiat considered rescuing Bertone after a previous attempt failed over two years ago.


Although the reports remain somewhat ambiguous, it appears that the unit in question is only the contract manufacturing division Carrozzeria Bertone SpA, a separate unit from the Stile Bertone design house under the Gruppo Bertone umbrella.


More Photos



Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Fortwo 4 Less: Smart offers first incentives in U.S.

So far this year, Smart USA has sold just 7,451 Fortwos, which is down nearly 16% over the first five months of 2008. May sales, though, were down an alarming 56.6% to 1,169 units. To stem the rushing tide of order cancellations and slow sales, Penske has decided to offer its first-ever incentives on the Fortwo. From now until the end of July, buyers may qualify for 4.2% financing through Daimler Financial Services for the purchase of a new 2009 Smart Fortwo.


Penske Automotive Group, distributors of the Smart Fortwo here in the United States, recorded an impressive 24,622 total sales of the diminutive city car in 2008 and dealers widely reported that they could have sold even more had they been available. With that in mind, the nascent company set what seemed at the time like a realistic sales target for 25,000 units in 2009. That may have been a bit optimistic.


If this incentive has a positive impact on sales, expect it to be extended a bit longer. Further, Penske is considering making it possible for dealerships to order new cars without accepting the refundable $99 reservation from a customer that's currently required, which could have the desirable effect of placing more new vehicles on dealer lots for buyers to choose from.
More Photos
Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Sweden car firm Koenigsegg to buy Saab: report

Swedish sports car maker Koenigsegg is to buy Saab Automobile from US giant General Motors with support from Norwegian investors, a broadcaster reported on Thursday.

The buyers have signed a letter of intention to buy Saab, Swedish television station SVT reported on its website, citing anonymous sources and naming Koenigsegg. It said negotiations to wrap up the deal would last months.
more detail. ...

Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Greek court rules against Daimler on China SUV

There's an old saying that "justice is blind," an adage which has taken a literal meaning thanks to a Greek court's decision to dismiss Daimler's lawsuit against a Chinese copy of the Smart fortwo.


Although the case looked promising for Daimler early on, a Milan court ruling in mid-December 2008 in favor of Shuanghuan in the BMW case seemed to have put the nail in Daimler's coffin. The court found that visual and price differences between BMW's X5 and Shuanghuan CEO were enough to prevent consumers from confusing the two. After winning the case against BMW, Shuanghuan resumed the sale of its CEO SUV in Italy.


The Greek court determined that "an informed buyer would not confuse the Noble with the Smart Fortwo." They also stated that because the two vehicles offer different technical specifications, any exterior styling similarities are irrelevant and almost inevitable because they're both mini-cars.


Chinese auto makers reportedly have 'borrowed' inspiration from BMW's X5, Daewoo's Matiz and the Mercedes-Benz SLK. Various legal challenges have been mounted, some successfully and others less so.


Mercedes-Benz (China) Ltd. started to sell Smart Fortwo, the classic low-emission car under Daimler's Mercedes-Benz brand, in China on April 8 this year.
Source: gasgoo via World Car Fans


Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Ssangyong given go-ahead to reconstitute, debars liquidation

A South Korean court just approved a plan to keep SsangYong Motor (SYMC) out of liquidation. In granting its approval the court agreed with a recent report that showed SsangYong is worth more alive than dead. After entering their version of Chapter 11 back in February, the company was faced with liquidation unless they came up with a convincing argument that they could turn things around.



Press Release:

SSANGYONG MOTOR GETS GO AHEAD TO RESTRUCTURE

SsangYong Motor (SYMC) today cleared a significant hurdle in its restructuring plans when a South Korean court gave its approval to put the plans into action.

The court confirmed a recent Samil PricewaterhouseCoopers assessment that the manufacturer had a greater value as a going concern than its liquidated value, and ordered SsangYong to submit its full restructuring plan by mid-September. Much of this is already in place, including a vital new model programme and a reduction in the workforce by over a third.

Paul Williams, managing director of distributor Koelliker UK Ltd. said: "This is the news we were hoping for and it means that SsangYong now has the lifeline it needs to implement major changes. The future will continue to be difficult, as it is throughout the auto industry, but the result should mean a leaner, much more efficient SsangYong. We already know that there will be a broader range of passenger cars using the latest petrol, diesel and hybrid technology, and the first – the C200 – will go into production later this year. Our dealers can now go forward with renewed confidence."

SsangYong applied for, and was granted court receivership in February after the fall-out of the international credit crunch, a drop in demand and even higher raw material, oil and energy prices. Court receivership is similar to US Chapter 11 status, giving the company protection fromcreditors and time to formulate and implement a corporate resuscitation plan. Under the arrangements, the court appointed former Hyundai Motor president Lee Yoo-il, and SYMC vice-president in charge of finance, Park Young-tae as co-legal administrators.

Despite these uncertainties, SYMC has forged ahead with the development of the new C200 'compact urban vehicle,' showing it at the Seoul Motor Show and most recently at the Barcelona Motor Show earlier this month. Styled in Europe, the C200 is a new monocoque design engineered for both front and four wheel drive, with advanced petrol, diesel and diesel hybrid engine options. It is scheduled for production later this year.

In the UK, the SsangYong line-up of Kyron, Rexton and Rodius passenger cars starts at £14,995 with light commercial versions of the Kyron and Rexton also available. SsangYong is fully participating in the government scrappage scheme which offers £2,000 off of a new car when an old (10 years old or more) car or van is traded-in for scrap.

www.ssangyonggb.co.uk
via:autoblog

Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Dodge Viper & Jeep Wrangler to be Axed

Doom and gloom are written in the sections of the bankruptcy filing documents that deal with Chrysler's Viper and Jeep Wrangler brands. These documents refer to two Chrysler entities, one called OldCo and the other is the New Chrysler. OldCo assets would not be affected by the recently-announced Fiat/ Chrysler tie up and would ultimately be closed down by 2010.
Read More







Other article:
Classic Design Concepts Group 2 Widebody Challenger for SEMA
Dodge Viper SRT10 ACR Hoonage
600hp Dodge Viper SRT-10 Goes Into Production
SEMA Debut:Dodge Challenger SRT10 Concept
Dodge Viper Reaches 25,000 Milestone
2006 Dodge Challenger Concept Flexes Some Muscle
First Production Dodge Challenger up for Bid
Dodge Challenger SRT8 Sneak Peek Pics Released
Supercharger Coming for 2009 Dodge Challenger
EXCLUSIVE: Challenger Drag Pack
2010 Dodge Charger Concept
2006 Dodge Charger
2008 Dodge Viper SRT10 at NAIAS
2006-2009 Dodge Charger
2009 Dodge Challenger R/T
Barrett-Jackson 2009: Hurst Viper good as gold, sells for $275,000
Hennessey 2008 Viper SRT10 Adds 78 horsepower
Hennessey Venom GT Concept Car Announced


Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Quandt Family nixes BMW and Daimler 7% share swapping deal

Germany’s Der Spiegel first reported today that Daimler and BMW would acquire a 7% stake in each other, but now the same newspaper is reporting that the Quandt family, BMW’s biggest shareholder with a 46% controlling stake, has quashed the deal over fears Daimler may attempt a takeover.
Read More



Other article:
BMW to Enter Small Petrol Turbo Engine Fray
Final Current-Generation BMW Z4 Rolls off Production Line
Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Audi: brand can not support the small cars in the United States

Audi longs to join Mercedes-Benz and BMW in the luxury big league in the United States, but its brand isn't strong enough yet to support selling small cars such as the A1 in the U.S., says Audi's global sales and marketing boss, Peter Schwarzenbauer.

And he ruled out a separate small-car brand similar to Mercedes' Smart or BMW's Mini.

Audi is engaged in an aggressive campaign in the U.S. market to build brand awareness. Until that takes hold, Audi won't be bringing small cars such as the A1 to the United States, Schwarzenbauer told Automotive News this month at the Geneva auto show.
Read More



Other article:
Audi A1's U.S. Launch set to be Delayed
Audi A1 Metroproject Quattro Concept
Paris Motor Show:Audi A1 Four-door
Official Audi A1 Sketches Revealed!
Audi A1 Cabriolet is out in the open


Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Opel may come to America

GM's decision to drop its Saturn brand after 2011 puts the automaker's U.S. divisions in line to get a version of the cutting-edge Opel Insignia, the European-designed model that was to replace the current Saturn Aura.

Automotive News reports a person familiar with GM's product plans says the Insignia will hit Buick dealerships as a replacement for the discontinued Regal sedan.
more detail. ...




Other article:
Opel Insignia wins European 'Car of the Year'
2010 Vauxhall/Opel Astra Teasers Released
Undisguised Opel Insignia Hatchback Spied
Opel Insignia Leaked
2008 Opel Insignia Teaser Revealed
Vauxhall Insignia Best Interior Spy Shots
Opel Insignia to Debut at British Motor Show
Opel Insignia
Video: All New Opel Insignia Revealed
Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Fiat 500, Alfa Romeo 940 Reportedly Heading Stateside

The proposed alliance between the two carmakers will give Chrysler access to Fiat's platforms and 1.4- and 1.8-liter gasoline engines while Fiat gains access to Chrysler's production facilities, platforms, and dealer network. The report also goes on to state that Fiat is seriously considering Chrysler's LX platform, which is used on the Dodge Charger and Chrysler 300, as a possible basis for the Alfa Romeo 169.


Although it was previously believed that Fiat's return to the US market would wait until the company setup production at Chrysler plants in North America, the latest report seems to suggest that initial Fiat and Alfa Romeo models will be built in Europe and then shipped to the United States. If such a move were to take place it would mean Fiat products could be sold in the US as early as next year, a full 12-18 months faster then waiting for North American production. Unlike today's Alfa Romeo 8C Competizione which is sold through select Maserati dealerships, future Fiat and Alfa Romeo models would be sold at select Chrysler-Dodge-Jeep dealers.


As we have previously reported, the proposed alliance between Chrysler and Fiat will see several of the latter company's products reaching US shores in the coming years. According to Automotive News, some of the first models under consideration for US consumption are the Fiat 500 and Alfa Romeo's upcoming 940 sedan.
More Photos



Other article:
Fiat 500 Abarth Launched with Opening Edition
Fiat Confirms Convertible Version of 500
Fiat 500 Abarth LEAKED
Fiat 500 & Grande Punto Abarth SS
Fiat 500 Abarth SS Latest Spy Photos
Fiat Grande Punto Abarth: In Detail
Fiat 500 Abarth SS
Fiat 500 once again in innovative and spectacular style
Fiat 500 based Castagna Tender Two EV

Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection

Citroen Going Upscale - Rebirth of Classic Citroen DS line

Citroen will introduce the scheme on 4 February to celebrate the brand's 90th birthday. Citroen needs a jolt after suffering a sales decline of 7.2 per-cent last year. They sold 1.35 million units in 2008.

Citroen will unveil a plan to rebrand themselves as the next-best thing to being a premium brand. The plan includes bringing back the DS line, an update to the logo, and a new marketing scheme.


The company has been planning a reintroduction of the DS line since mid-2007. The DS was Citroen's flagship line from the 1950s through the 70s, and will now represent upper-tier vehicles. First up will be the Citroen DS3, set for delivery at the end of the year. “We will offer products within the Citroen brand that have added value and carry elements of the premium sector,” said styling director Jean-Pierre Ploue.


Also being freshened up is the chevron logo, which has not seen a change since 1985. A new marketing slogan, possibly "three years to impress the world," and global web site are also on the way. The plan was formed by an exec who is no longer with the company. His goal was to improve the company's image while reducing its focus on small cars.


A five-year schedule is also in place to overhaul the 3,300 dealership network. The look of the showrooms, stronger customer relations, and better maintenance and repairs are parts of the plan.
via:World Car Fans



Other article:
Citroën 2CV, 60 Years Old, Is Recreated On New Project
Burton Elementz Kitcar Concept

Source URL: https://nensycarblog.blogspot.com/search/label/Corporate%2FFinancial
Visit NENSY CAR BLOG for Daily Updated Hairstyles Collection