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GM recalls 1.5m cars due to fire risk
GM said it is recalling 1.5 million vehicles which have a condition in which drops of engine oil may be deposited on the exhaust manifold under hard braking. NHTSA said that this could start a small fire that could spread to a plastic spark plug wire channel and beyond, increasing the risk of an engine compartment fire. GM dealers will remove the plastic spark plug retention channel and install two new spark plug wire retainers free of charge. Models being recalled are 1997-2003 Buick Regal; 1998-2003 Chevrolet Lumina, Monte Carlo and Impala; 1998-99 Oldsmobile Intrigue; and 1997-2003 Pontiac Grand Prix.
AUS students build solar car
Eight engineering students from the American University of Sharjah GCC have completed work on the region's first student-built solar powered car. The car is the result of a collaboration between Siemens, the regional arm of the global engineering firm, Siemens AG, and the AUS College of Engineering. The vehicle, which is known as the Siemens Sunchaser, is a 1.5 horsepower car capable of moving at speeds up to 100 kilometres per hour. It harnesses its power from the sun through a series of 740 cells arranged on the body of the car in solar panels.
Aston Martin eyes growth in Middle East
Ulrich Bez, CEO of British luxury carmaker Aston Martin, told Gulf News that the auto manufacturer aims to sell 10% of its cars in the Middle East. The company sells 90% of its cars in the UK, US and Western Europe, but has been trying to diversify its sales with greater focus on China, Eastern Europe and the Middle East.
Mercedes-Benz sales rise in region
Sales of Mercedes-Benz vehicles in the Middle East and Levant have risen each month this year, reflecting growing confidence in the market, according to Frank Bernthaler, Director, Sales and Marketing, Mercedes-Benz Middle East and Levant. Deliveries in March were up 9% over the previous month, he noted. However, total Q1 sales in the region were down 23% compared to the same period in 2008.
Saudi BMW group sales up 20%
Anees Jamjoom, marketing director of Mohamed Yousuf Naghi Motors, an exclusive importer of BMW, Mini and Rolls-Royce in Saudi Arabia announced at the media launch of the Mini Cabrio in Riyadh that Naghi's Q1 sales rose by 20% in the first quarter of 2009. 'I don't say the Saudi car market is totally unaffected by the current international economic crisis but the future for Saudi automotive sector is very promising as there has been increasing demand for imported cars that offer innovative design, style and performance,' Jamjoom told the Saudi Gazette.
Daimler expects 'significant' Q1 loss
German manufacturer Daimler has said that it expects to report a 'significant loss' for Q1 and has begun companywide cost-cutting as part of a response to lowered global sales. The group plans to shave a further $2.68bn off its German labour costs this year. Daimler is also continuing talks with Cerberus Capital Management on the sale of its remaining 19.9% stake in Chrysler.
Nissan MidEast sales top 200,000
Nissan has said in a statement that it sold more than 200,000 cars in the Middle East in its April 2008-March 2009 financial year. Atsuo Kosaka, managing director of Nissan Middle East FZE, described 2008 as a 'milestone' for sales of Nissan vehicles across the region. 'Despite the current economic downturn Nissan aims to continue increasing its share of the Middle Eastern vehicle market and consolidate its position as one of the leading Japanese auto brands in the region,' Kosaka said.
UAE Toyota, Lexus sales grow
UAE Toyota and Lexus distributor Al Futtaim Motors has said that March sales rose by 46%, compared to January figures. Lexus SUV sales grew by 118% over the period.
GM makes bankruptcy preparations
General Motors is in 'intense' and 'earnest' preparations for a possible bankruptcy filing, a source familiar with the company's plans has told Reuters. GM Chief Executive Fritz Henderson has said the company prefers to restructure out of court but could go to court if needed. A plan to split the company into a new company made up of the most successful units, and an 'old company' of its less-profitable units is seen as the company's best configuration for the future, said another source familiar with the talks.
Saab expects June sell-off
Saab Automobile AB, which owner General Motors is trying to sell told a Swedish court that it has 20 interested parties and expects to be sold before the end of June. Saab had filed for bankruptcy protection in February and told the court it needed approximately $1bn in the near future in order to continue production and to be able to launch the new models it has developed. Saab did not identify any of the potential buyers.
Mini Cabrio launched in Bahrain
Euro Motors, the exclusive dealer for BMW automobiles in Bahrain announced the launch of the new Mini Cabrio. Available in two 1.6 litre model variants: The Mini Cooper S Cabrio comes with a twin turbo charged direct fuel injection petrol engine producing a maximum output of 128 kW/175 hp at an engine speed of 5,500 rpm at a top speed of 222 km/h, and the Mini Cooper Cabrio produces 88 kW/120 hp at 6,600 rpm.
Skoda Oman sales up tenfold
Sales of Skoda models in Oman have registered a tenfold increase from January to March compared to the same period in 2008. The company offers its Fabia, Roomster and Octavia models in teh Sultanate.
Abu Dhabi in Opel talks
The premiere of the German state of North Rhine-Westphalia, one of four federal states where Opel has plants in Germany, had held meetings with a high-ranking member of Abu Dhabi's ruling family about a potential investment in General Motor's cash-strapped German unit Opel, Germn daily Westdeutsche Allgemeine Zeitung reported. The paper added that further talks between the two sides have been agreed.
Audi offers leasing programme
Ali & Sons Co's Motor Division has announced a leasing programme for its Audi brands in Abu Dhabi. The scheme provides monthly rates with the option to purchase the vehicle at the end of the term or the car can be returned and a newer model leased in its place. The leasing plan is intended to access new customer base for Audi in the emirate.
Car sales in UAE fall 45%
Car sales in the UAE fell up to 45% per cent in the first two months of this year amid tightened lending for automobile loans and low consumer confidence, the head of a leading car dealership told Gulf News. Michel Ayat, chief executive officer of Arabian Automobiles Company, the Nissan, Infiniti and Renault dealer in Dubai and the Northern Emirates, said sales are unlikely to improve anytime soon if banks continue to impose strict criteria for car loans.
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