auto industry

Auto
4:28 pm
Thu October 25, 2012

Ford restructures in Europe, cuts 5,700 jobs

Ford's global headquarters in Dearborn.
Ford

Ford is cutting 5,700 jobs in the U.K. and Belgium as it tries to return to profitability in Europe.

The company is expecting annual losses of over $1.5 billion in Europe.

Alisa Priddle of the Detroit Free Press has more:

The actions will cut capacity by 18% or 355,000 vehicles a year which should result in annual savings of $450 million to $500 million, the company said today.

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Auto
4:59 pm
Thu October 18, 2012

Battery company bankruptcy refuels electric car debate

The recent bankruptcy of battery company A123 has some questioning the profitability of electric cars like the Nissan Leaf.
user cliff1066 flickr

Tuesday’s bankruptcy announcement by A123 Systems Inc. has many taking another look at the prospects of the electric car.

Conservative commentators have taken the opportunity to bash the Obama administration for its green energy investments.

In 2009, A123 received a $249 million grant from the Department of Energy.

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Auto
12:35 pm
Fri September 21, 2012

Canadian Auto Workers and GM announce tentative contract

Ken Lewenza and the CAW reached a tentative agreement with GM Thursday.
Canadian Auto Workers union

The Canadian Auto Workers and GM announced a tentative contract Thursday night reports The Globe and Mail:

The deal extends by one year the life of a car-assembly plant in Oshawa, Ont., that was scheduled to close next year and adds a new shift of workers at a neighbouring plant. That means GM’s employment level in Canada should be roughly the same as it is today – or about 7,000 people – in 2016.

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1:40 pm
Tue September 18, 2012

Canadian Auto Workers extend negotiations with Chrysler and GM

Lead in text: 
After reaching a tentative four-year deal with Ford on Monday, CAW officials have agreed on an indefinite extension of negotiations with Chrysler and GM.
Toronto - After agreeing to an extension of negotiations, members of the Canadian Auto Workers, Chrysler Group LLC and General Motors Co. worked into early Tuesday morning hammering out details of a new contract. Parties had already met for a caucus Tuesday morning and will likely caucus again later in the afternoon.
Politics & Government
4:16 pm
Mon September 3, 2012

Biden rallies labor workers in Detroit

Biden takes the stage at Detroit's Labor Day parade
Kate Wells

Vice President Joe Biden took the spotlight at Detroit’s Labor Day parade. It's one more sign that the auto bailout is shaping up as a central theme of the Obama-Biden campaign.

Last week Republican nominee Mitt Romney asked Americans if they were better off today than four years ago. Now comes part of the Democrats’ response: you sure are if you’re an auto worker.

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Economy
1:18 pm
Tue August 28, 2012

GM will take Volt plant off-line for second time in 2012

The redesigned 2014 Impala
User IFCAR Wikimedia Commons

In mid-September, General Motors will temporarily close the Detroit-Hamtramck plant that makes the Chevrolet Volt for about a month.

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Economy
12:01 pm
Tue August 21, 2012

More people making auto payments on time, Michigan leads the way

user hotblack MorgueFile.com

A credit reporting agency says the rate of overdue auto loans is at the lowest rate in more than ten years.

TransUnion says the rate of U.S. auto loan payments at least 60 days overdue fell in the second quarter to 0.33 percent. That's down about 25 percent from the same period last year and 8 percent from the first three months of this year.

Michigan is well below the national average, with 0.21 percent of borrowers delinquent on their car loans.

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Politics & Government
9:00 am
Sat August 4, 2012

Michigan politics: The week in review

Brian Charles Watson Wikimedia Commons

In this Saturday's Week in Review, Michigan Radio's Rina Miller speaks with Political Analyst Jack Lessenberry about auto earnings, the new state model for measuring K-12 academic achievement, and the primary election coming up on Tuesday.

RM: U.S. car companies announce their profit statements this week. How are things looking, Jack?

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Economy
8:58 am
Wed July 25, 2012

Ford posts lower profits in the 2nd quarter

Steve Carmody/Michigan Radio

DEARBORN, Mich. (AP) - Ford Motor Co. says its net income fell by 57 percent to $1 billion in the second quarter as losses in Europe and Asia mounted.

The company lowered its full-year profit forecast. Ford still expects a strong operating profit, but it will be lower than 2011. Previously the company had expected to make about the same amount.

Opinion
9:46 am
Wed July 18, 2012

Let Detroit go bankrupt: The famous line Romney never said

Charles Brown

The four most famous words that Mitt Romney never wrote are, “Let Detroit Go Bankrupt.”

You read that right.  Mitt Romney never wrote those words.  They were the headline of a New York Times op-ed column that was authored by Romney and published in the newspaper on November 18, 2008.

I doubt that most people could accurately recite so much as a sentence of the op-ed that Governor Romney actually wrote in that column.  All that anybody remembers is the headline, which I have discovered was written by a New York Times editor, not Governor Romney.

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Auto
6:12 pm
Wed May 9, 2012

Chevy Volt vs. Nissan Leaf

The Nissan Leaf plug (left) and the Chevy Volt plug (right).

There's a lot of excitement around electric vehicles. But so far sales have not been great.

Michigan Radio’s auto beat reporter Tracy Samilton decided to get some firsthand experience driving two electric vehicles - the Nissan Leaf and the Chevy Volt.

JW: So while we are calling them electric cars there are some fundamental differences in how they work.

TS: The Leaf is a pure electric vehicle it only runs on the battery and when it runs dry you have to recharge the battery to get more out of the car. And the Volt has a battery, and you run on that as an electric car for about 35 miles, and then after that it has a generator that runs on gasoline that provides more electricity so the car can keep running. So Chevy calls it an electric car with extended range.

JW: And after spending that week with the Leaf and the Volt, what did you think?

TS: Well, they’re two totally different cars and I had two totally different experiences as you can imagine. When I got the Volt, that week that they gave it to me I actually have a vacation arranged in Pennsylvania. Well because it has the extended range I could actually take the volt to the camp sight, some 400 and some miles away. And I plugged it into my cabin, which had electricity. You know most of this was done on the gasoline but I was able to get it recharged in my cabin.

When it comes to the Leaf, it’s a different kind of vehicle, I could not have done that.

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Economy
7:06 am
Wed April 25, 2012

Carmakers In China Rev Up As Industry Shifts East

China is now the world's largest market for cars, and the Auto China 2012 car show is now taking place in Beijing. Here, the Denza electric car, a joint creation by Daimler and Chinese manufacturer BYD, is unveiled Monday.
AP

Originally published on Wed April 25, 2012 6:24 pm

The Beijing auto show runs this week in what is now the world's largest car market, and a crucial one for Detroit companies.

General Motors just announced it will open 600 more dealerships in China, where it sells more cars than it does in the U.S. Last week, Ford announced construction of its fourth Chinese assembly plant.

For longtime American auto executives in China, witnessing the shift in the global auto industry is dramatic.

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Auto/Economy
10:14 am
Tue April 24, 2012

Ford Motor Company's credit rating gets an upgrade

(file photo)
(photo by Steve Carmody/Michigan Radio)

DETROIT (AP) — Ford Motor Co. says its credit rating has been restored to investment grade by the Fitch Ratings agency.

The automaker's debt has been at junk status since 2005. The company had to mortgage its factories and other assets to borrow billions in order to stay out of bankruptcy.

Ford issued this statement:   

“We are very pleased with today’s decision by Fitch. It is an important proof point of the continued progress the Ford team is making with our One Ford plan. Moving forward, we will continue to focus on driving profitable growth for all of our stakeholders. In fact, our One Ford plan includes achieving strong investment grade ratings and maintaining investment grade throughout an economic cycle."

Company spokesman Jay Cooney says Ford's assets will be released as collateral once a second ratings agency boosts the company's credit rating.

Auto/Economy
6:28 pm
Wed March 14, 2012

Recycling a former home of Lansing's auto industry

Economic development leaders hope to turn this playground for bikers in Lansing Township back into a home for automotive manufacturing
(photo by Steve Carmody/Michigan Radio)

 Lansing area business and civic leaders say they are going to work together to market hundreds of acres of vacant industrial land.

The capital city region has more than 400 acres of land left vacant by cuts in the auto industry.

Bob Trezise is the president of the Lansing Area Economic Partnership.  He says in the past the different local governments tried to develop the old industrial land separately..

Politics
6:00 am
Tue March 6, 2012

Green Party presidential hopeful visits Michigan, touts "Green New Deal"

Presidential hopeful Jill Stein of the U.S. Green Party
JillStein.org

Michigan’s republican  primary was last week, but that doesn’t mean presidential candidates are done courting voters.

A U.S. Green Party presidential hopeful, Jill Stein met with supporters in Michigan to tout her party’s platform.

Stein talked with a small group yesterday at a Amer's deli in Ann Arbor about what she calls her “Green New Deal.”

She says the Deal focuses on living wages and green technology.

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Commentary
10:46 am
Wed February 15, 2012

Romney and the Bailout

Usually, journalists are sent press releases before political events, because the organizers want reporters to cover them. Monday, I got one about an event that was already over.

That would normally strike me as a trifle unusual, until I saw that it was from the Green Party of Michigan. They had a meeting last weekend in Bay City which they said was “charged with enthusiasm.“

What did they talk about? Well, among other things, quote “the unrest palpable among the lower echelons of society.” and the “once-dismissed voters who opted to eschew either,” major party nominee.

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Economy
7:08 am
Tue January 31, 2012

Obama plays up auto industry success story

President Obama visits the Washington Auto Show today.
Richardo Giaviti Flickr

President Barack Obama is expected to visit the Washington Auto Show on Tuesday.

Obama sometimes calls his decision to rescue General Motors and Chrysler a tough choice that saved jobs in an important industry.

The auto show will give him another forum to talk about GM and Chrysler, along with the administration's attention to manufacturers and efforts to boost fuel efficiency standards.

The president's advisers view the auto bailout as a potential point of contrast with Republican Mitt Romney, who opposed Obama's decision to pour billions of dollars into the companies.

During his State of the Union address last week, Obama said the auto industry has hired tens of thousands of workers, and he predicted the Detroit turnaround could take root elsewhere.

Auto/Economy
12:33 pm
Thu January 12, 2012

Raising average fuel economy standards

A Chevy Volt parked outside the state capitol building in Lansing
(photo by Steve Carmody/Michigan Radio)

 Environmentalists say significantly raising federal fuel economy standards will benefit Michigan’s auto industry.   

The Obama administration is considering more than doubling the current average fuel economy standard by 2025 to more than 50 miles per gallon. 

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Auto/Economy
3:20 pm
Sun November 20, 2011

Could the auto industry help revive Toledo?

Three big, new investments by automakers in one Ohio city are raising hopes for a revived economy. Chrysler and General Motors have promised to spend more than $800 million on retooling and expanding their factories in Toledo.

These moves announced in recent months will create at least 1,400 jobs and keep thousands more. Parts suppliers also are expected to add more jobs in and around Toledo.

Chrysler announced plans on Wednesday to build a new Jeep SUV at its Toledo assembly plant while adding 1,100 jobs. It also hinted that more work could be coming.

That's why Toledo Mayor Mike Bell calls the news "the equivalent of a blood transfusion for our city."

Auto/Economy
3:59 pm
Fri October 14, 2011

Obama: Free trade agreements will boost US auto industry

President Barack Obama addresses an audience of auto workers at the GM Orion Assembly Plant, as South Korean president Lee Myung-bak (wearing a Detroit Tigers baseball cap) looks on.
(photo by Steve Carmody/Michigan Radio)

 In southeast Michigan today, President Obama said free trade agreements passed this week by Congress will lead to more jobs and more economic opportunities.   

Obama and South Korean president Lee Myung-bak toured GM’s Orion assembly plant.   Obama says the new South Korea trade agreement should boost U.S. auto sales in Asia. 

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