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Inside this issue
Toyota Drops Plan for Widespread Sales of Electric Car
Ford Sets Bar High for U.S. Sales of Fusion Hybrids
CAW Wants Chrysler to Maintain Employment Level
Fiat Sticks to Financial Goals
GM to Double Credit Line to $10B
Study: Maintenance Plans Retain Dealership Customers
Fla. Warranty Law Dispute Moves Toward Trial
Buick Achievers Scholarship Program to award $4.2M to students
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Top Stories
Toyota Drops Plan for Widespread Sales of Electric Car

Toyota Motor Corp has scrapped plans for widespread sales of a new all-electric minicar, saying it had misread the market and the ability of still-emerging battery technology to meet consumer demands.
Source: Reuters

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Ford Sets Bar High for U.S. Sales of Fusion Hybrids

Ford has amped up its ambitions for the all-new 2013 Fusion hybrid powertrains. Consumers looking at the new midsize sedan can choose from five powertrains, but the Dearborn-based automaker expects at least 15% of them to drive off with the gas-electric hybrid or Energi plug-in models. That is big leap. Hybrids accounted for 3.9% of Fusion sales through August and were 4.5% of 2011 sedan sales.
Source: Detroit Free Press

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CAW Wants Chrysler to Maintain Employment Level

Union would accept deal that doesn't require adding jobs

The Canadian Auto Workers will not require Chrysler Group LLC to match the new jobs commitments made by Ford Motor Co. and General Motors Co. as part of their agreements with the union. Instead, the CAW is asking Chrysler to maintain its current level of employment in the country.
Source: The Detroit News

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Fiat Sticks to Financial Goals

Fiat SpA Chief Executive Sergio Marchionne on Monday said the Italian auto maker expects to meet its financial targets for the year despite a sharp drop in European car sales from the euro-zone sovereign debt crisis. Fiat is losing money in Europe, but its business is doing better in Brazil, where it is the market leader, and in the U.S., where Fiat's Chrysler Group LLC unit has benefited from a sharp rebound in U.S. auto demand.
Source: The Wall Street Journal

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GM to Double Credit Line to $10B

General Motors Co. is preparing to launch a new offering to double its line of credit to $10 billion, a person briefed on the matter told The Detroit News. GM plans to refinance a $5 billion line of credit it secured in October 2010 that it has not tapped. The company is expected to launch the offering in the new few weeks.
Source: The Detroit News

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Study: Maintenance Plans Retain Dealership Customers

Pre-paid and complimentary maintenance plans boost customer retention at auto dealership service departments, according to a DMEautomotive survey. Nearly three of five polled consumers with such plans say they are likely to continue servicing their cars at a dealership after their plans expire. That compares with average dealer post-warranty retention rates of 22% to 40%, depending on vehicle make and age.
Source: WardsAuto

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Fla. Warranty Law Dispute Moves Toward Trial

A nearly four-year legal dispute over warranty repair rates in Florida is moving closer to trial. The Alliance of Automobile Manufacturers filed a legal challenge in a Florida circuit court in 2008 to a dealer-backed law that took effect in May of that year. The state law requires automakers to pay dealerships the same rates for warranty parts and labor that the stores charge retail customers, according to a December 2008 Automotive News report.
Source: Automotive News

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Buick Achievers Scholarship Program to award $4.2M to students

The General Motors Foundation and the Buick Achievers Scholarship Program on Monday announced it was making $4.2 million in scholarship awards to 1,100 recipients across the country. Students chosen for the scholarships, aimed to help them earn a college degree in science, technology, engineering, math or related fields, come from all U.S. states and were selected for their work in the classroom and the community.
Source: The Detroit News

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Quotable
"The current capabilities of electric vehicles do not meet society's needs, whether it may be the distance the cars can run, or the costs, or how it takes a long time to charge."

   
-- Takeshi Uchiyamada, Toyota's vice chairman and the engineer who oversees vehicle development, commenting on its plans to scrap widespread sales of a new all-electric minicar, Reuters, Sept. 24


 


 

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