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F-Series Deals Sweetened
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Ford yesterday increased cash rebates by $500 on two of its 2004 F-Series models. Consumers who buy the F-150 regular cab pickup without rear seat or the four-door SuperCrew version will receive the additional cash through the end of August. Total cash rebates on the F-150 regular cab and SuperCrew trucks have been raised to $3,500 and $2,500, respectively.
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GM To Boost Share?
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General Motors recently reshuffled sales and marketing executives. The reason behind the changes is a strategy to reverse market share losses and deliver a consistent, cost-effective advertising message worldwide, The Detroit News reports. For the first time, an executive post has been created to find ways to grow GM market share and sales long term. John Middlebrook's new post as vice president of global sales, service and marketing was previously handled by GM Chairman and CEO Rick Wagoner. (See PG 8/16/04) more
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DCX Sells Hyundai Stake
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DaimlerChrysler raised nearly $912 million from the sale of its shares in affiliate Hyundai Motor, Reuters reports. The German-U.S.
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POWER PULSE: Crossovers Blur Car And SUV Demand
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Crossovers continue to capture more and more of the SUV market. However, market acceptance of crossovers this year has been mixed, according to Tom Libby, senior director of industry analysis for the Power Information Network (PIN), LLC. Libby offers observations about crossovers based on analysis of data collected by PIN from retailers in more than 27 major markets in the U.S. and from the J.D. Power and Associates Sales Report.SM
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• In the second quarter, more than 40% of all SUVs sold in the U.S. were crossovers—a record high. Also, two of the seven models recently introduced in the U.S. market were crossovers—the Chevrolet Equinox (built on the same platform as the Saturn Vue) and the BMW X3 (built on a modified sedan platform).
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• Since the beginning of 2004, however, the total SUV share of industry sales has been declining and, as a result, the crossover share has plateaued. The crossover share of industry was 10.2% in the fourth quarter of 2003, 10.0% in the first quarter of 2004 and 10.1% in the second quarter. more
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automaker authorized broker Goldman Sachs to sell 45.8 million global depositary receipts to financial institutions. Goldman sold shares at the discount price of $19.92 per share, according to media reports. DaimlerChrysler, which had a 10.5% stake in Hyundai, paid nearly $572 million for its total stake in Hyundai.
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Hybrids Help After Hurricane
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Some dealerships and auto auctions across central Florida have not been able to reopen due to damages as well as power and phone service outages in the wake of Hurricane
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Charley last Friday, according to Automotive News. But help may be on the way. Florida's Miami Dade County has a fleet of gasoline/electric hybrid pickups built by General Motors that are being sent to the region and may be used as mobile power generators. more
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Scion Web Marketer
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Toyota is offering consumers with computers a chance to download an Internet tool bar application that hopefully will build awareness of its Scion youth brand. more
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