Automobile industry
Kia Motors and Ford Motor Credit Company have announced a joint venture to establish a finance company in South Korea. The new company, Kia Ford Credit Finance Company, has received preliminary approval from the Korean Ministry of Finance and Economy. Scheduled to begin operations in January 1996, the joint venture
Automobile industry
Chrysler Corporation has announced that eight of its nine U.S. assembly plants and all three Canadian assembly plants will operate during the week of September 5. The Labor Day holiday on September 4 will see all plants closed, but production will resume at varying shift lengths and frequencies at
Automobile industry
The Ford Montreux Detroit Jazz Festival held in 1995 was a dynamic event that brought together music, fashion, and community in the city of Detroit. The festival featured a lineup of talented jazz musicians, including the New Graystone Jazz Orchestra, led by Dr. Thomas "Beans" Bowles. The orchestra
Automobile industry
Coopers & Lybrand Consulting, a leading professional services firm, has signed a significant memorandum of understanding with Samsung Motors, a unit of the Samsung Business Group of South Korea. The agreement aims to help Samsung enter the auto manufacturing industry by 1998, with projected revenues exceeding $50 million over several
Automobile industry
General Motors Corp. has unveiled a voluntary program designed to simplify the trading process for its stockholders who hold fewer than 100 shares of its common stock. The "odd-lot reduction" program allows these investors to either sell their shares or purchase enough shares to reach exactly 100 shares
Automobile industry
Victoria's automotive sector has notched up some significant victories, but its future remains precarious as it fights for a place in the world car industry. The recent commitments by Ford and Toyota to maintain manufacturing in Victoria are a welcome boost, but the industry's ability to
Automobile industry
General Motors, a leading American multinational corporation, has announced the appointment of Robert E. Anderson as the new plant manager of its Ste-Therese, Quebec, Canada assembly plant, effective October 1, 1995. Anderson will oversee the production of the Chevrolet Camaro and Pontiac Firebird models at the facility. Anderson brings a
Automobile industry
Michelin, a leading tire manufacturer, is teaming up with General Motors to introduce a new program that will streamline tire warranty processing and enhance service for vehicle owners. The program, which includes Michelin, Uniroyal, and BFGoodrich tire brands, will provide General Motors vehicle owners with comprehensive tire warranty coverage under
Automobile industry
Duff & Phelps Credit Rating Co. has reaffirmed its senior debt rating of Electronic Data Systems Corporation (EDS) at A+ (Single-A-Plus) and its commercial paper rating at D-1. The company has also reaffirmed the debt ratings of General Motors Corp. (GM) and its General Motors Acceptance Corp. (GMAC) financial subsidiary
Automobile industry
The joint venture between Holden and Toyota, which shared car designs, engineering, and marketing, is set to come to an end as both companies seek to implement globalization strategies. The move is seen as a strategic decision by both motor manufacturers to integrate their subsidiaries more fully into global operations.
Automobile industry
Chrysler Corporation has made a bold move, announcing its return to NASCAR after a 24-year hiatus. The company will provide factory support to teams participating in the NASCAR SuperTruck series, starting immediately. This support involves contingency payments for podium finishes, as well as engineering development of engines and body aerodynamics.
Automobile industry
General Motors' corporate culture can be summarized as a tale of two cousins - the optimistic Ford Motor Company and the Chrysler Corporation. While Ford and Chrysler have been predicting robust sales this spring, General Motors, widely teased for its relatively gloomy outlook last year, has taken a more
