The Carlovers Magazine

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• The New Generation of VW Magotan
• U.S. Auto Sales Jump 18%
• Gasoline Prices Climb to $3.97 per Gallon
• Nissan Wins $1 Billion Taxi Order from New York City
• Meritor Earnings Jump 31%
• Chrysler Gets Lower Credit Rating Than Ford, GM
• U.S. Auto Incentives Plunge to Lowest Level Since 2005
• Honda Expands Airbag Recall
• Saab Confirms Hawtai Group Partnership
• Fiat Wins Worker Concessions at Third Italian Plant

The New Generation of VW Magotan Posted: VW’s “One Country, Two Passats” policy seems to be paying off in the Chinese market, the New Midsize Sedan (NMS) has just been launched in Shanghai by Shanghai Volskwagen, but VW’s other partner in North East China, First Automobile Works are planning to launch their own European B7 Passat in stretched wheelbase form to fight [...]

U.S. Auto Sales Jump 18% Posted: Automakers sold 1.2 million cars and light trucks in the U.S. last month compared with 982,100 in April 2010, led by a 22% increase in sales of domestic-brand vehicles to 538,200 units, according to Autodata Corp. Industrywide sales set an annual sales pace of 13.2 million vehicles compared with 11.3 million [...]

Gasoline Prices Climb to $3.97 per Gallon Posted: Americans are now paying an average of $3.97 per gallon nationwide for gasoline, up 10 cents in the past week and just 14 cents shy of the record high reached in July 2008, according to the AAA Daily Fuel Gauge Report. Analysts attribute most of the gain in pump prices to [...]

Nissan Wins $1 Billion Taxi Order from New York City Posted: New York City's Taxi and Limousine Commission has awarded Nissan Motor Co. a 10-year contract worth an estimated $1 billion as exclusive supplier of the city's taxicabs. The company will begin delivering a modified version of its NV200 compact commercial van in late 2013. The van will replace the 16 models [...]

Meritor Earnings Jump 31% Posted: Meritor Inc. netted $17 million in the fiscal second quarter ended March 31, up from $13 million a year earlier as revenue jumped 37% to $1.2 billion on stronger commercial truck demand in the Americas and Europe. The company says the benefits of higher volume were partly offset by rising [...]

Chrysler Gets Lower Credit Rating Than Ford, GM Posted: Standard & Poor's and Moody's gave Chrysler Group LLC credit ratings that are four and five notches below investment grade, respectively. Rivals Ford and General Motors are rated one step higher than Chrysler by S&P and three steps higher by Moody's. Still, the ratings are Chrysler's first since it merged with [...]

U.S. Auto Incentives Plunge to Lowest Level Since 2005 Posted: Automakers spent an average of $2,120 per vehicle sold last month in the U.S. on incentives. Spending was down $250, or 11%, from March and $520, or 20%, from April 2010 to the lowest average since October 2005, according to Edmunds.com. The online auto data provider says carmakers are slashing incentive [...]

Honda Expands Airbag Recall Posted: Honda Motor Co. is recalling 833,000 vehicles to find and replace 2,430 defective driver's airbag inflators that were installed as replacement parts. The action expands a recall that began in 2008 to fix original-equipment inflators and now involves 1.7 million vehicles. The U.S. National Highway Traffic Safety Administration says the inflator [...]

Saab Confirms Hawtai Group Partnership Posted: Spyker Cars N.V.'s Saab Automobile unit confirms it is forming a venture with China's Hawtai Motor Group, pending government approvals. Hawtai will invest €120 million ($178 million) in Spyker to gain as much as 29.9% equity in the company, plus access to Saab technology, manufacturing and distribution. The Chinese SUV maker [...]

Fiat Wins Worker Concessions at Third Italian Plant Posted: Union workers at the former Bertone assembly plant in Grugliasco, Italy, have voted overwhelmingly to accept shorter breaks, restrictions on their right to strike and more work shifts in exchange for a €500 million ($741 million) investment in the plant by Fiat SpA, which bought the facility two years ago. Once [...]

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