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Automotive News
Our Automotive News coverage is updated daily with news and information from around the Internet, covering the latest developments in trucks, add-on components, racing, and the truck enthusiast lifestyle. Feel free to discuss any news in our Discussion Forum.
Wednesday, October 24, 2007
Subaru Tribeca Named Best Resale Value in Crossover Segment
Subaru Tribeca Named Best Resale Value in Crossover Segment - Subaru brand remains an industry leader in residual value according to ALG - CHERRY HILL, N.J., Oct. 24 /PRNewswire/ -- The 2008 Subaru Tribeca was named best resale value in the crossover utility vehicle segment by Automotive Lease Guide (ALG). The Subaru brand remains an industry leader in residual value, ranking fourth overall in ALG's Industry Brand Residual Value Rankings. ALG ranks brands and vehicles predicted to retain the highest percentage of their original price after a conventional three-year lease term. (Photo: http://www.newscom.com/cgi-bin/prnh/20071024/NEW161 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20050404/PHSUBARULOGO )
"We are very pleased to see that ALG has recognized the Subaru Tribeca as the best in the crossover segment for residual value," said Thomas J. Doll, executive vice president and CFO, Subaru of America, Inc. "The Subaru brand is well known for its quality, durability and overall tremendous value in the marketplace. And the Subaru Tribeca is more of what our customers love about Subaru."
The ALG residual value awards are derived after careful study of segment competition, historical vehicle performance and industry trends. According to ALG, the 2008 awards prove once again that compelling design, high quality manufacturing, disciplined pricing and volume programs are essential to achieve the highest residual value. Award winners are featured on ALG.com and other automotive publications and websites dedicated to bringing the industry's best-performing models into the public eye. Residual value is not the only feature of the Subaru Tribeca that has received acclaim. The Subaru Tribeca is a Top Safety Pick by the Insurance Institute for Highway Safety (IIHS) and the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) awarded Tribeca its 5-Star Safety Rating in both their frontal and side- impact NCAP crash tests. The Subaru Tribeca has also been recognized for its award winning interior design and is a recommended pick by leading independent consumer publications for reliability and owner satisfaction. For additional information on the Subaru Tribeca or the complete lineup of award-winning Subaru all-wheel drive vehicles visit www.media.subaru.com. About Subaru of America, Inc. Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered in Cherry Hill, N.J., the company markets and distributes Subaru Symmetrical All-Wheel Drive vehicles, parts and accessories through a network of more than 600 dealers across the United States. Subaru makes the best-selling All-Wheel Drive car sold in America based on R.L. Polk & Co. new vehicle retail registration statistics. For additional information visit www.subaru.com. Lisa Fleming
Subaru of America, Inc.
(856) 488-5093
lfleming@subaru.com Michael McHale
Subaru of America, Inc.
(856) 488-3326
mmchale@subaru.com First Call Analyst:
FCMN Contact: Photo: http://www.newscom.com/cgi-bin/prnh/20050404/PHSUBARULOGO
http://www.newscom.com/cgi-bin/prnh/20071024/NEW161
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN10
PRN Photo Desk, photodesk@prnewswire.com
Source: Subaru of America, Inc.
CONTACT: Lisa Fleming, +1-856-488-5093, lfleming@subaru.com, or Michael
McHale, +1-856-488-3326, mmchale@subaru.com, both of Subaru of America, Inc. Web site: http://www.subaru.com/
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Profile: automotive-news
posted by automotive-news # 9:49 PM
Columbus Reaches Important Understanding with Motorola for First Pilot Project
Columbus Reaches Important Understanding with Motorola for First Pilot Project LAS VEGAS, Oct. 24 /PRNewswire-FirstCall/ -- Columbus Geographic Systems (GIS) Ltd. ("Columbus") announced today they have reached an understanding with Motorola, a global leader in providing integrated communications solutions and embedded electronic solutions. A pilot project will be conducted by a subsidiary company of Motorola that operates a call center providing navigation and location-based information to drivers and hikers. This information is relayed to the end user in a number of ways, including voice message or SMS to his cellular phone, or directly to an in-car PC system. As part of the project, the call center's agents will use Columbus' system to provide real-time navigation and location-based tourist information to the end user. This solution represents a significant break-through for Motorola, and enables them to provide their users with maps and aerial photographs for off-road navigation. In addition, the user can receive a wide range of tourist information about places of entertainment, hotels, restaurants etc from approved third-party content providers. "We are very pleased that Motorola has chosen to proceed with our solution and agreed to pay for the pilot project," said Columbus CEO Tsvika Freidman. "We are confident that of the success of this pilot will open the door to further projects with Motorola and other leading global companies. We are now preparing the pricing of the project, and expect to start the pilot within the next month." About Columbus Geographic Systems Columbus Geographic Systems (GIS) Ltd. is a rising player in the field of geographic information systems (GIS) and navigation applications. The Company brings advanced software capabilities to a wide range of users and devices, previously only accessible to trained professionals on dedicated devices. Main products: - Highly-effective off road, outdoor GPS navigation tools, working on a full range of devices including Car PC, PDA, and Personal Navigation Devices (PND), with options for 3D imaging. - Innovative, affordable GIS tools easily used in a range of applications, including businesses, agriculture, surveys, and government agencies. - Aerial GIS applications for military and civilian aircraft operating in complex or threatening environments. For more information, please visit http://www.columbusgis.com/. Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward- looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-
looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments. CONTACT: Columbus Geographic Systems (GIS) Ltd.
Phone: +972 8 8601001
info@columbusgis.com First Call Analyst:
FCMN Contact:
Source: Columbus Geographic Systems (GIS) Ltd.
CONTACT: Columbus Geographic Systems (GIS) Ltd., +972 8 8601001,
info@columbusgis.com Web site: http://www.columbusgis.com/
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Profile: automotive-news
posted by automotive-news # 4:39 PM
Dollar Thrifty Automotive Group to Announce Third Quarter 2007 Financial Results
Dollar Thrifty Automotive Group to Announce Third Quarter 2007 Financial Results TULSA, Okla., Oct. 24 /PRNewswire-FirstCall/ -- Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) will announce third quarter 2007 financial results prior to market open on Wednesday, November 7, 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO) A conference call to review the Company's third quarter 2007 results will be held at 10:00 a.m. CST, on Wednesday, November 7, 2007. Gary Paxton, President and Chief Executive Officer, will lead the call. Also participating will be Steve Hildebrand, Chief Financial Officer. A live audio Web cast of the call will be available on the company's Web site, http://www.dtag.com/. Domestic participants should call 888-425-9158 and use the pass code "Dollar Thrifty." The number for international participants is 210-839-8553. Please call in approximately 10 minutes prior to the beginning of the call. A replay of the conference call will be made available one hour following the conclusion of the call. To access the domestic audio replay, call 800-945-7761. The international replay number is 203-369-3954. The audio replay of the call will be available through November 21. The replay will also be available on the investor information portion of the corporate Web site for one year. Questions regarding the conference call should be directed to Todd Dallenbach, Executive Director -- Investor Relations at (918) 669-2414. First Call Analyst:
FCMN Contact: chris.payne@dtag.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Dollar Thrifty Automotive Group, Inc.
CONTACT: Todd D. Dallenbach, Executive Director of Investor Relations of
Dollar Thrifty Automotive Group, Inc., +1-918-669-2414,
todd.dallenbach@dtag.com Web site: http://www.dtag.com/
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Profile: automotive-news
posted by automotive-news # 4:34 PM
California Residents Search for Alternative Housing in Midst of Crisis
California Residents Search for Alternative Housing in Midst of Crisis As Californians Weather Recent Fire Storms, Local Business Fills Need for Alternative Housing LOS ANGELES, Oct. 24 /PRNewswire/ -- What: More than half a million residents have been evacuated from their homes due to fire storms throughout California, filling local hotels and even stadiums. El Monte RV, one of the nation's largest motorhome rental companies headquartered in Los Angeles, is helping by providing temporary housing and is offering to donate motorhomes to relief agencies and organizations as needed on a case-by-case basis. "This is our home, and our hearts go out to people who have been affected by this terrible situation," said Joe Laing, of El Monte RV. "Our goal is to do whatever we can to help provide some relief." El Monte RV experts can provide comment and insight about how motorhomes are being used as command centers and temporary housing option for displaced residents coping with the crisis. Where: El Monte RV is based in Los Angeles and has been providing temporary housing to residents in San Diego, Los Angeles and Malibu, Calif. The company has more than 1,000 vehicles in the area and 20 locations throughout California. El Monte RV is also on stand-by to bring in vehicles from its other locations throughout the country, if necessary. Resources: El Monte RV has been providing insurance companies with command response units and filling the need for temporary offices for local businesses. Company spokesperson Joe Laing can offer insight into how Californians are dealing with the crisis, how RVs are currently being used and the possibility of increasing demand for temporary housing alternatives as the fires rage on. To coordinate interviews, contact: Joe Laing, El Monte RV, 562-404-9300 or jlaing@elmonterv.com or Jamie Godfrey, CMD for El Monte RV, 503-488-4296, jgodfrey@cmdagency.com First Call Analyst:
FCMN Contact:
Source: El Monte RV
CONTACT: Joe Laing of El Monte RV, +1-562-404-9300,
jlaing@elmonterv.com; or Jamie Godfrey of CMD, +1-503-488-4296,
jgodfrey@cmdagency.com, for El Monte RV
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Profile: automotive-news
posted by automotive-news # 4:31 PM
SpongeTech Delivery Systems Presented to a Packed ValueRich Small-Cap Financial Expo Audience in NYC
SpongeTech Delivery Systems Presented to a Packed ValueRich Small-Cap Financial Expo Audience in NYC NEW YORK, Oct. 24 /PRNewswire-FirstCall/ -- SpongeTech Delivery Systems, Inc. (BULLETIN BOARD: SPNG) announced today that it had a very successful experience at the ValueRich Investor Conference this past week in New York City with a presentation to a packed house. SpongeTech Delivery System's CFO Steven Moskowitz commented, "Our booth at the New York Value Rich Small-Cap Financial Expo was very busy this past week. From our perspective we had one of the busiest booths at the ValueRich Small- Cap and we spoke to a lot of investors and institutional money managers and broker/dealers who were very interested in our company and stock. We gave our presentation to a packed conference hall, and with all the interest and questions during the Q&A period we were allowed about double the normal presenter allotted time. We gave away a lot of product samples and we believe that we generated a lot of visibility for our company. We are certain that attending the Expo will help SpongeTech to draw more interested investors to our company and ultimately, our stock." For more information please contact Investor Relations at 1-877- SPONGE T or visit the company website at: www.spongetech.com. About SpongeTech Delivery Systems SpongeTech Delivery Systems designs, produces, markets, and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge. Each SpongeTech Delivery System sponge is fully biodegradable and is designed with their cutting-edge technology and environmentally friendly. "Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations. First Call Analyst:
FCMN Contact: wayoung55@aol.com
Source: SpongeTech Delivery Systems, Inc.
CONTACT: Investor Relations, SpongeTech Delivery Systems, Inc.,
+1-877-776-6438, info@spongetech.com Web Site: http://www.spongetech.com/
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Profile: automotive-news
posted by automotive-news # 4:25 PM
First Advantage Corporation Reports Operating Results for the Third Quarter of 2007
First Advantage Corporation Reports Operating Results for the Third Quarter of 2007 ST. PETERSBURG, Fla., Oct. 24 /PRNewswire-FirstCall/ -- First Advantage Corporation (NASDAQ:FADV), a global risk mitigation and business solutions provider, today announced operating results for the third quarter ended Sept. 30, 2007. First Advantage reported net income of $19.0 million (32 cents per diluted share) for the quarter ended Sept. 30, 2007, compared with net income of $18.6 million (32 cents per diluted share) for the quarter ended Sept. 30, 2006. The results include a pre-tax charge of $1.7 million ($1 million after tax or 2 cents per diluted share) for costs incurred in connection with continued planned operational consolidations in the Employer Services segment. Service revenue for the company was $205.3 million and $198.6 million for the quarters ended Sept. 30, 2007 and 2006, respectively. Earnings before interest, taxes, depreciation and amortization, minority interest and share-based compensation expense (adjusted EBITDA) were $48.6 million and $47.3 million for the quarters ended Sept. 30, 2007 and 2006, respectively. "We are very pleased with the results for the quarter, which underscore the diversification of our business segments," said Anand Nallathambi, president and chief executive officer. "Significant growth in our Investigative and Litigation Support Services segment, consistent results in our Multifamily Services segment and continued improvement in our Employer Services segment minimized the impact of the turmoil in the credit markets on our overall operating results. "The Employer Services segment reported solid revenue growth with improved margins, excluding the costs incurred in connection with continued planned operational consolidations, during the third quarter as a result of international operations, cross-sell initiatives, product expansion and improved operational efficiencies. "Margins were down in our Lender Services and Data Services segments from the third quarter of last year, as these businesses face challenges due to market conditions that have negatively impacted mortgage applications and lead generation services." First Advantage's third quarter 2007 results will be discussed in more detail on Wednesday, October 24, 2007, at 5:00 p.m. EDT, via teleconference and webcast. The teleconference dial-in number is 877.546.1565 within the U.S. and 212.547.0422 outside the U.S., and the passcode is "Advantage". The live audio webcast of the call will be accessible from the Investor Relations section of First Advantage's Web site at www.FADV.com. An audio replay of the teleconference call will be available through November 7, 2007, by dialing 800.253.1054 within the U.S., or 203.369.3219 outside the U.S. An audio archive of the webcast will also be available for replay on First Advantage's Web site following the call. Summary Consolidated Income Statement (Unaudited) (In thousands, except per Three Months Ended Nine Months Ended
share amounts) Sept. 30, Sept. 30,
2007 2006 2007 2006
Service revenue $205,306 $198,605 $614,546 $571,564
Reimbursed government fee
revenue 14,107 13,431 41,926 39,943
Total revenue 219,413 212,036 656,472 611,507 Cost of service revenue 56,603 62,020 178,621 177,762
Government fees paid 14,107 13,431 41,926 39,943
Total cost of sales 70,710 75,451 220,547 217,705 Gross margin 148,703 136,585 435,925 393,802 Salaries and benefits 67,865 60,414 207,685 177,794
Facilities and
telecommunications 8,670 7,625 24,812 22,205
Other operating expenses 26,754 24,799 80,544 70,850
Depreciation and amortization 10,862 9,641 32,044 28,369
Income from operations 34,552 34,106 90,840 94,584 Interest (expense) income:
Interest expense (2,946) (3,571) (9,269) (10,062)
Interest income 323 252 975 554
Interest (expense)
income, net (2,623) (3,319) (8,294) (9,508) Equity in earnings of investee 865 747 2,315 1,407 Income before income taxes and
minority interest 32,794 31,534 84,861 86,483
Provision for income taxes 13,610 12,151 35,058 36,038
Income before minority
interest 19,184 19,383 49,803 50,445
Minority interest 231 759 1,260 2,439
Net income $18,953 $18,624 $48,543 $48,006 Per share amounts:
Basic earnings per share $.32 $.32 $.83 $.84
Basic weighted-average shares
outstanding 59,064 58,096 58,799 57,282
Diluted earnings per share $.32 $.32 $.82 $.83
Diluted weighted-average
shares outstanding 59,222 58,155 59,121 58,035 EBITDA and adjusted EBITDA
calculation:
Net income $18,953 $18,624 $48,543 $48,006
Provision for income taxes 13,610 12,151 35,058 36,038
Minority interest 231 759 1,260 2,439
Interest expense 2,946 3,571 9,269 10,062
Depreciation and amortization 10,862 9,641 32,044 28,369
Earnings before interest,
taxes, depreciation and
amortization (EBITDA)* $46,602 $44,746 $126,174 $124,914
Share based compensation
expense 2,039 2,522 10,942 8,484
Adjusted EBITDA $48,641 $47,268 $137,116 $133,398 *EBITDA and adjusted EBITDA are not measures of financial performance
under generally accepted accounting principles. EBITDA and adjusted
EBITDA are used by certain investors to analyze and compare companies.
Segment Financial Information (Unaudited)
Three Months Ended Nine Months Ended
(In thousands, except Sept. 30, Sept. 30,
percentages) 2007 2006 2007 2006 Service revenue Lender Services $35,110 $44,072 $123,580 $135,023
Data Services 35,138 37,153 113,874 108,312
Dealer Services 28,720 31,993 88,364 92,790
Employer Services 59,013 53,399 171,534 139,901
Multifamily Services 19,699 18,616 56,980 54,068
Investigative & Litigation
Support Services 28,051 14,336 62,289 44,451
Corporate (425) (964) (2,075) (2,981)
Consolidated $205,306 $198,605 $614,546 $571,564 Income (Loss) from operations
Lender Services $6,660 $14,603 $31,002 $42,469
Data Services 9,230 10,283 31,946 29,185
Dealer Services 4,150 4,913 11,238 13,814
Employer Services 6,550 5,960 18,460 13,961
Multifamily Services 6,076 4,933 16,256 13,023
Investigative & Litigation
Support Services 11,056 2,666 17,672 8,822
Corporate (9,170) (9,252) (35,734) (26,690)
Consolidated $34,552 $34,106 $90,840 $94,584 Operating margin percentage
of service revenue
Lender Services 18.97 % 33.13 % 25.09 % 31.45 %
Data Services 26.27 % 27.68 % 28.05 % 26.95 %
Dealer Services 14.45 % 15.36 % 12.72 % 14.89 %
Employer Services 11.10 % 11.16 % 10.76 % 9.98 %
Multifamily Services 30.84 % 26.50 % 28.53 % 24.09 %
Investigative & Litigation
Support Services 39.41 % 18.60 % 28.37 % 19.85 %
Corporate N/A N/A N/A N/A
Consolidated 16.83 % 17.17 % 14.78 % 16.55 % About First Advantage Corporation
First Advantage Corporation (NASDAQ:FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 4,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE:FAF), a FORTUNE 500(R) company that traces its history to 1889. First American is America's largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people's lives. Additional information about the First American Family of Companies can be found at www.firstam.com. Certain statements in this press release are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company's Class A common stock; the company's ability to successfully raise capital; the company's ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company's competition; increases in the company's expenses; continued consolidation among the company's competitors and customers; unanticipated technological changes and requirements; the company's ability to identify suppliers of quality and cost-effective data; and other risks identified from time-to-time in the company's SEC filings. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward- looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Investors are advised to consult the company's filings with the SEC, including its 2006 Annual Report on Form 10-K and subsequent amendments, for a further discussion of these and other risks. Contacts:
Henri Van Parys Cindy Williams
Corporate Communications Manager Investor Relations Manager
727.214.3411, ext. 4136 727.214.3411, ext. 4160
henri.vanparys@FADV.comclwilliams@FADV.com FCMN Contact: henri.vanparys@FADV.com
Source: First Advantage Corporation
CONTACT: Henri Van Parys, Corporate Communications Manager,
+1-727-214-3411, ext. 4136, henri.vanparys@FADV.com, or Cindy Williams,
Investor Relations Manager, +1-727-214-3411, ext. 4160, clwilliams@FADV.com,
both of First Advantage Corporation Web site: http://www.fadv.com/
http://www.firstam.com/
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Profile: automotive-news
posted by automotive-news # 4:11 PM
Current Market Conditions Could Lead to Cheaper Gasoline Prices, Says Dallas Fed's Economic Letter
Current Market Conditions Could Lead to Cheaper Gasoline Prices, Says Dallas Fed's Economic Letter DALLAS, Oct. 24 /PRNewswire/ -- If current market conditions prevail, gasoline prices are set to rise over the next few months and then fall over the next three years, according to the October issue of the Federal Reserve Bank of Dallas' Economic Letter. The October Economic Letter can be found at: http://www.dallasfed.org/research/eclett/2007/el0710.html In "What's Driving Gasoline Prices?" director of energy economics and microeconomic policy Stephen P.A. Brown and economic analyst Raghav Virmani find that gasoline prices could rise by 20 cents in the next few months and then decline by about 35 cents a gallon over the next three years, with seasonal variations during each year of about 27 cents a gallon. "Household budgets won't get much relief, but continued high gasoline prices probably aren't going to be an unbearable burden for the economy as a whole," Brown and Virmani write. The authors use an econometric model incorporating crude oil prices and seasonal and nonseasonal movements in consumption, refinery production, imports and inventories to create a complete picture of gasoline pricing in the U.S. market. The model explains more than 99 percent of gasoline price levels and 56 percent of the weekly changes in gasoline prices. Brown and Virmani find that recent market conditions that have driven gasoline and oil prices in opposite directions are short lived. "Our econometric models confirm the traditional result that crude oil prices dominate movements in gasoline prices, but they also show that seasonal and nonseasonal movements in consumption, refinery production, imports and inventories influence gasoline prices in the short term," they write. The three-year outlook incorporates West Texas Intermediate crude futures prices, which call for oil to slide to $75 a barrel by the end of 2010. As with all estimates, the outlook for crude oil prices can change significantly with economic conditions or geopolitical events, the authors say. First Call Analyst:
FCMN Contact:
Source: Federal Reserve Bank of Dallas
CONTACT: James Hoard, +1-214-922-5307, james.hoard@dal.frb.org Web site: http://www.dallasfed.org/
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Profile: automotive-news
posted by automotive-news # 3:46 PM
Dover Motorsports, Inc. Declares Regular Quarterly Dividend
Dover Motorsports, Inc. Declares Regular Quarterly Dividend DOVER, Del., Oct. 24 /PRNewswire-FirstCall/ -- Dover Motorsports, Inc. (NYSE:DVD) Board of Directors today declared a quarterly cash dividend on both classes of common stock of $.015 per share. The dividend will be payable on December 10, 2007 to shareholders of record at the close of business on November 10, 2007. Dover Motorsports, Inc. is a leading promoter of motorsports events in the United States. Its motorsports subsidiaries operate four motorsports tracks in three states and promote motorsports events under the auspices of three of the premier sanctioning bodies in motorsports -- NASCAR, IRL, and NHRA. The Company owns and operates Dover International Speedway in Dover, Delaware; Gateway International Raceway near St. Louis, Missouri; Memphis Motorsports Park in Memphis, Tennessee; and Nashville Superspeedway near Nashville, Tennessee. For further information log on to http://www.dovermotorsports.com/.
First Call Analyst:
FCMN Contact: rjaksch@dovermotorsports.com
Source: Dover Motorsports, Inc.
CONTACT: Patrick J. Bagley, Sr. Vice President-Finance, Dover
Motorsports, Inc., +1-302-883-6530 Web site: http://www.dovermotorsports.com/
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Profile: automotive-news
posted by automotive-news # 3:36 PM
Bud Ekins, stuntman in 'The Great Escape'
Cleveland Plain Dealer - McQueen would hang out there and Ekins taught him about off-road racing. Ekins, his brother, David, and McQueen raced as a team in the 1964 International Six Day Trials in Germany, although McQueen crashed and Ekins broke his leg, Bloch said. Overall [read more]The Auto Chanel - The Points battle is heating up as CORR rides into Texas for the first time on October 19th and 20th. With only two race weekends left in the 2007 CORR season the pressure is on and the racing is sure to be intense at the Texas Motor Speedway. Baja [read more]San Diego Union-Tribune - Former IndyCar champion Paul Tracy finished fifth in his off-road racing debut. “I kept my nose clean and the race came to me,” said Renezeder. “I set my game plan. I'm really happy.” Rick Huseman followed his recent win at Antelope Valley [read more]San Diego Union-Tribune - Paul Tracy – winner of the 2003 Champ Car World Series tour and 30 IndyCar, CART and Champ Car races during a 17-year career – will drive a two-wheel pickup truck in his off-road racing debut. Not since Bobby Allison raced at South Bay Park [read more]PaddockTalk - Rick Huseman, driver of the Fabtech / Toyo Tires Toyota Tundra truck, won the Jason Baldwin Memorial Cup Pro 4 Qualifier this Saturday during the Championship Off Road Racing™ (CORR) weekend at Texas Motor Speedway. Driving on Toyo® Open Country M [read more]Motorsport.com - The Ermelo Toyota 400, the final round of the SA national off-road championship for motorcycle and quad competitors that will take place on 26 and 27 October, should be the highlight of the 2007 national off-road racing calendar for more than one [read more]Cycle News - Ekins helped McQueen learn off-road racing and the actor became an accomplish racer. Through his association with McQueen, Ekins began his career as a movie stuntman. In 1962, McQueen asked Ekins to come to Germany to do some stunt riding for the [read more]Who Won - TINLEY PARK, Ill. -- Lucas Oil Products and NeWave TV Productions have announced additional TV programming for the World Series of Off-Road Racing (WSORR). Already set to air Saturday, November 3 at 3 P.M. (EST) is the first of 18 episodes of WSORR [read more]San Diego Union-Tribune - Paul Tracy won't be the only “name” driver at The Quarry in Chula Vista this weekend for the final local Championship Off-Road Racing event of the season. Seven-time Supercross and motocross champion Rick Johnson of Encinitas drove to a second [read more]Forbes - Along with his wife Becca, a Champion Rock Crawling driver, the team has generated over one billion marketing impressions - and continues to be one of the leading promotional icons in off-road racing. Press Conference at Off-Road EXPO The team from [read more]PR Inside - The vehicle combines features found in high dollar off-road racing vehicles with a proven reliable 400cc engine in an economically priced package. The YamaBuggy offers a balance of performance and value in a compact two passenger design. Features [read more]MSN MoneyCentral - W.E.ROCK Event, Inc. is an off-road racing competition and event management company. It is the sanctioning body for international competition in seven countries across the world and produces the W.E.ROCK Series in the US which includes multiple [read more]
posted by automotive-news # 3:15 PM
Lithia Motors Presents a Check for Over $10,000 to the Spartan Brigade Memorial
Lithia Motors Presents a Check for Over $10,000 to the Spartan Brigade Memorial ANCHORAGE, Alaska, Oct. 24 /PRNewswire-FirstCall/ -- Five Anchorage-area Lithia Motors dealerships have raised over $10,000 for the Spartan Brigade Memorial during the three-day Lithia Military Family Appreciation Sale. The new Spartan Brigade Memorial is being built to honor Soldiers from Fort Richardson's 4th Brigade Combat Team (Airborne) who gave the ultimate sacrifice in Iraq. The Lithia Military Family Appreciation Sale was held from September 20-23 at the Sears Mall where Lithia Dodge of South Anchorage, Chevrolet of South Anchorage, Lithia Hyundai of Anchorage, Lithia Chrysler Jeep of Anchorage, and BMW of Anchorage each designated $100 from each pre-owned vehicle sold. Lithia collected $10,300 during the three-day offsite event. Media, military, community leaders and residents at-large are encouraged to attend the Friday, October 26 ceremony at 3:00 pm (Alaskan Time Zone) at Chevrolet of South Anchorage where Dave Tullos, Multi-Store Manager for Lithia dealerships in Alaska, and Troy Jarvis, General Manager of Chevrolet of South Anchorage, will present CPT Clinton Holmes with a check for $10,300. "These funds will help construct a memorial honoring the commitment and sacrifice of our servicemen and women," said Sergeant Major Mark C. Imler, (4th Brigade Combat Team, Rear Detachment Command Sergeant Major). "Great partnerships make great communities and we are extremely fortunate to have Lithia on our team." Robert Sacks, Lithia's Director of Community Relations said, "We are proud of Alaska's military personnel who put their lives on the line to protect our freedoms. Their dedication and perseverance has been a great example for the entire community and inspired Lithia Motors to help make a difference. The Spartan Brigade Memorial is a clear signal that Anchorage does not forget our fallen heroes." The Spartan Brigade Memorial will be located at the home of the 4-25th Brigade Combat Team (Airborne), Fort Richardson, Alaska. The memorial will consist of a brick walk way flanked on each side by three Alaskan Fir trees, representing the six battalions of the Spartan Brigade. The monument itself will be a black granite pyramid. One side will list the names of our fallen Spartan Heroes. The second side will be a brief history of the Spartan Brigade since its activation July 14, 2005. The final side will depict three ancient Spartan warriors standing upon a hill, guiding a single modern Spartan on their journey to the heavens. Lithia Motors, Inc. is a Fortune 700 and Russell 2000 Company. Lithia sells 30 brands of new and all brands of used vehicles at 109 stores which are located in 46 markets within 15 states. Internet sales are centralized at www.Lithia.com, or through the recently launched www.L2.com. Lithia also sells used vehicles; arranges finance, warranty, and credit insurance contracts; and provides vehicle parts, maintenance, and repair services at all of its locations. Lithia retailed 109,648 new and used vehicles and had $3.17 billion in total revenue in 2006. Lithia is publicly traded (NYSE:LAD) and is available on the web at www.Lithia.com.
First Call Analyst:
FCMN Contact:
Source: Lithia Motors, Inc.
CONTACT: Media, Robert Sacks, Lithia Motors, +1-541-770-7195,
rsacks@lithia.com, or Anne Cable, Liebler!MacDonald, +1-248-233-8059,
anne@liemac.com; or Military Contact, CPT Clinton Holmes, +1-907-350-5798,
clinton.a.holmes@us.army.mil Web site: http://www.lithia.com/
http://www.l2.com/
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Profile: automotive-news
posted by automotive-news # 3:03 PM
Automotive Lease Guide (ALG) Announces Ninth Annual Residual Value Awards for the Top Segment Leaders and Brand Residual Value Awards
Automotive Lease Guide (ALG) Announces Ninth Annual Residual Value Awards for the Top Segment Leaders and Brand Residual Value Awards SANTA BARBARA, Calif., Oct. 24 /PRNewswire/ -- Automotive Lease Guide (ALG) today announced its annual Residual Value Awards, which honor those vehicles in each automotive segment predicted to retain the highest percentage of their original price after a conventional three-year lease term. This year's awards are based on 2008 model year vehicles. For the sixth year, ALG has also included awards for the brands with the highest predicted resale values among all industry and luxury vehicles. The awards are derived after careful study of segment competition, historical vehicle performance and industry trends. Award winners are featured on ALG.com and other automotive publications and websites dedicated to bringing the industry's best-performing models into the public eye. For the fifth consecutive year, American Honda Motor Company, Inc. has won the Industry Brand Residual Value Award. Honda also received individual segment awards for the Accord in the Mid-Size Car category and the Odyssey in the Minivan category. It was the seventh consecutive win for the Odyssey. Infiniti USA won the Luxury Brand Residual Value Award for the first time -- also the first time any company other than BMW or Lexus has won the overall Luxury award. In addition, Infiniti won the Near Luxury segment award for the G35/G37. Toyota Motor Sales, USA again received the most segment Residual Value Awards, and was runner-up for the Industry Brand Award. Toyota received three segment awards, for the Avalon in the Full-Size Cars; the 4Runner in SUVs; and the Tacoma in Compact Trucks. It was the seventh consecutive win for the Tacoma and the fifth consecutive win for the 4Runner. Volkswagen of America won third place in the Industry Brand rankings and received an individual segment award for the Volkswagen EOS in the Sporty Car category. BMW won two individual awards, for the 5 Series in the Luxury Car segment and the 6 Series in the Luxury Sports Car segment. Among domestic manufacturers, the Jeep Wrangler won the segment award for Compact SUVs for the second consecutive year, and the GMC/Chevy Sierra/Silverado also won for the second year in a row, in the Full-Size Truck category. "The 2008 awards prove once again that compelling design, high quality manufacturing and disciplined pricing and volume programs are essential to achieve the highest residual value," said John Blair, Automotive Lease Guide's Chief Executive Officer. "Honda, Toyota, Lexus and BMW continue to show leadership. In addition, Infiniti should be applauded for substantially increasing their Residual Values over the past several years. They have shown steady improvement and the new G35/37 put them over the top. Residual Value continues to be the best metric for determining the health of an automotive brand, and the winners deserve a great deal of credit for their products and sales strategies." Summary of 2008 Residual Value Award Winners Brand Awards Brand
Industry Brand Residual Value Award American Honda Motor Company, Inc.
Luxury Brand Residual Value Award Infiniti, A division of Nissan
Motor Co., Ltd. Segment Awards Vehicle
Compact Car Mini Cooper
Midsize Car Honda Accord
Fullsize Car Toyota Avalon
Sporty Car Volkswagen Eos
Near Luxury Car Infiniti G35/37
Luxury Car BMW 5 Series
Luxury Sports Car BMW 6 Series
Minivan Honda Odyssey
CUV Subaru Tribeca
Luxury CUV Range Rover Range Rover Sport
Compact SUV Jeep Wrangler
SUV Toyota 4Runner
Luxury SUV Lexus GX470
Compact Truck Toyota Tacoma Pickup
Fullsize Truck GMC/Chevy Sierra/Silverado
Industry Brand Residual Value Rankings
Rank Brand
1 HONDA
2 TOYOTA
3 VOLKSWAGEN
4 SUBARU
5 NISSAN
6 MAZDA
7 SATURN
8 GMC TRUCKS
9 JEEP Only brands above the industry average were ranked. Below industry average were the following brands (listed in alphabetical order): Buick, Chevrolet, Chrysler, Dodge, Ford, GMC, Hyundai, Jeep, Kia, Mercury, Mitsubishi, Pontiac & Suzuki. Luxury Brand Residual Value Rankings Rank Brand
1 INFINITI
2 LEXUS
3 BMW
4 ACURA
5 PORSCHE
6 MERCEDES BENZ
7 LAND ROVER
8 AUDI Only brands above the luxury average were ranked. Below luxury average were the following brands (listed in alphabetical order): Cadillac, Jaguar, Lincoln, Saab & Volvo. Note: All brands with vehicles in at least three segments were included. As a result of this requirement, MINI and Scion were excluded from the above rankings. About ALG Based in Santa Barbara, California, Automotive Lease Guide (ALG) is a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" -- the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 37 years in both the U.S. and Canadian markets. ALG is a company of DealerTrack Holdings, Inc. (NASDAQ:TRAK). Please visit us at http://www.alg.com/ to learn more about the 2008 Residual Value Awards, or any of ALG's other products and services. For further information, please contact Fernando Ubeda at (805) 898-8444, or email: fubeda@alg.com Contacts:
Fernando Ubeda
(805) 898-8444
fubeda@alg.com
Source: Automotive Lease Guide (ALG)
CONTACT: Fernando Ubeda of ALG, +1-805-898-8444, fubeda@alg.com Web site: http://www.alg.com/
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Profile: automotive-news
posted by automotive-news # 3:02 PM
Ford Motor Company Names Ray Day To Lead Global Communications Team
Ford Motor Company Names Ray Day To Lead Global Communications Team DEARBORN, Mich., Oct. 24 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE:F) today announced the appointment of Ray Day as vice president of Communications. Day will lead all of the company's global external and internal communications and public relations activities, reporting to Jim Farley, the company's new group vice president of Marketing and Communications. Day succeeds Charlie Holleran, 62, who is leaving the company after more than three years of service in leading Ford's Communications team. "Ray Day is a talented, passionate and tireless communications leader. We are thrilled to have his experience and leadership as we accelerate telling the Ford story to all our stakeholders," said Alan Mulally, Ford's president and chief executive officer. "We also applaud Charlie Holleran for developing the next generation of Ford's communication leadership and for being a strong advocate of closer integration of our Marketing and Communications teams under Jim Farley." "Ford's quality and vehicles are now on par with the best of the competition, as recent third-party studies have proven. I look forward to working with Ray and our entire team in communicating those strengths to customers and introducing even more of them to the family of Ford," added Farley, who was in Dearborn this week to meet with members of the Marketing and Communications teams and the agencies who work with them. Most recently serving as executive director of Corporate Communications, Day, 41, has been spearheading Ford's communications strategy, including plans to transform the company's communications model for today's changing consumer and media landscape. Day joined Ford in 1989 and spent most of his career leading Ford's global communications and public relations activities related to the company's products, design, manufacturing, sales, marketing, brand development and corporate issues. He lived for four years in Europe -- serving as head of Ford's European Product Public Affairs in both Germany and the UK -- and started his Ford career leading the company's internal communications network. He was a newspaper reporter and editor before joining Ford. Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With about 260,000 employees and about 100 plants worldwide, the company's core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.fordvehicles.com.
First Call Analyst:
FCMN Contact:
Source: Ford Motor Company
CONTACT: Mark Truby of Ford Motor Company, +1-313-323-0539,
mtruby@ford.com Web site: http://www.ford.com/
http://www.fordvehicles.com/ NOTE TO EDITORS: Go to http://media.ford.com for news releases and high- resolution photographs. -------
Profile: automotive-news
posted by automotive-news # 2:02 PM
Chrysler LLC Launches Production of New 2008 Dodge Viper SRT10 at Conner Avenue Assembly Plant
Chrysler LLC Launches Production of New 2008 Dodge Viper SRT10 at Conner Avenue Assembly Plant - 2008 Dodge Viper SRT10 hand-built at the Conner Avenue Assembly Plant - Additional 90 horsepower on tap from all-new 600-horsepower 8.4-liter Viper SRT10 V-10 engine built at Conner Avenue Assembly AUBURN HILLS, Mich., Oct. 24 /PRNewswire/ -- Chrysler LLC today announced the manufacturing launch of the new 2008 Dodge Viper SRT10, which is being built at the company's Conner Avenue Assembly Plant in Detroit. In a time when most manufacturing plants utilize hundreds of state-of-the- art robots to assemble vehicles, a unique plant in Detroit is producing hand- built performance vehicles. At the Conner Avenue Assembly Plant, workers called "Craftspersons" hand- build the new Dodge Viper SRT10 and all-new 600-horsepower 8.4-liter SRT V-10 engine. Utilizing 26 work stations on a 705-foot-long assembly line, 48 hand- picked UAW workers assemble each vehicle. Each vehicle remains stationary for up to 49 minutes per work area as the Craftspersons make any necessary adjustments. This process eliminates traditional repair stations with all procedures verified by Craftsperson team members. Each Dodge Viper is primarily made of seven component modules (instrument panel, fuel tank, suspension corner modules, wheels and tires, cooling module, lift gate assembly and full dressed engine). With the exception of the engine, all modules are shipped to the Conner facility from other locations. Stamping, casting and welding all take place off-site with body panels arriving already painted. Normally performed only on race cars, an alignment machine sets caster and camber at normal ride height, at jounce and at rebound (upward and downward travel of suspension). Typical factory alignments set caster and camber in the normal ride height position only. The 2008 Dodge Viper SRT10 is the only U.S. production vehicle set up for such alignment at the factory. "Our assembly process is just as exceptional as the car," said Melissa Holobach, Plant Manager - Conner Avenue Assembly Plant, Sterling Heights Vehicle Test Center (SHVTC) and Pilot Operations. "The process of building these vehicles by hand has allowed us the freedom to produce race-inspired performance without the constraints of mass production," Holobach said. "Our workforce is committed to producing the best vehicles possible and it shows in their commitment to detail." The all-new 600-horsepower 8.4-liter SRT V-10 engine is built next to the vehicle on a 24-station circular line by nine Craftspersons. These nine workers assemble and certify each engine before they are installed in the chassis. Each Dodge Viper is tested in place on the assembly line utilizing special rollers. At this stage the vehicle is a rolling chassis without its body panels. During this "roll test" it is driven through all six speeds of the transmission, up to 90 mph to verify vehicle function. Since its introduction as a concept car at the 1989 North American International Auto Show in Detroit, the Dodge Viper has captured the hearts and imagination of enthusiasts around the world. The 2008 Dodge Viper SRT10 is offered in both Roadster and Coupe versions. With its dramatic styling and 600 horsepower, the 2008 Dodge Viper SRT10 is the ultimate American sports car. "The 2008 Dodge Viper continues to be an icon for not only the Dodge brand but the Company," said Frank Ewasyshyn, Executive Vice President - Manufacturing. "Compared to our other manufacturing facilities, this is a very labor-intensive plant, but to build the Dodge Viper any other way wouldn't be right. This small craft shop allows us to produce a true American legend." The next chapter of Dodge Viper continues to set the definition of extreme, yet features greater levels of refinement and finish. The new 2008 Dodge Viper SRT10 boasts more of what performance aficionados crave: more horsepower, benchmark braking, world-class ride and handling, a race-inspired interior and bold exterior styling. While every SRT vehicle offers balanced overall performance, the heart and soul of the new 2008 Dodge Viper SRT10 is its new powertrain. For 2008, SRT ups the ante with a new, 8.4-liter aluminum V-10 engine that produces an astounding 600 horsepower and 560 lb.-ft. of torque. With 600 horsepower -- 90 more than before, and 0-to-60 performance in less than four seconds, the 2008 Dodge Viper SRT10 sets a new benchmark for the ultimate American sports car. The new 2008 Dodge Viper SRT10 will arrive in Dodge showrooms in North America this fall with a new level of customization options, including five new exterior colors, four new interior color combinations and a new wheel design. Street and Racing Technology SRT creates Chrysler's boldest, most distinctive products by single- mindedly following its core vision: Deliver benchmark performance at the lowest price, and deliver it with absolute integrity and credibility. Every SRT vehicle showcases five key aspects: Exterior styling that resonates with the brand image; race-inspired interiors; world-class ride and handling characteristics across a dynamic range; benchmark braking; and standout powertrain. Detroit Community Chrysler's commitment to the City of Detroit is strong. In 2006, Chrysler generated over $960 million in annual wages, over $16 million in income taxes, and over $44 million in personal and real property taxes in the City of Detroit. Throughout Michigan, the company has 35,000 employees who generate more than $4 billion in annual wages and provide more than $258 million in taxable income to the state. Since April 2007, the company has invested $1.8 billion in Detroit-area plants in support of flexible manufacturing efforts. The company's operations in Detroit include Conner Avenue Assembly Plant, Jefferson North Assembly Plant, Mack Engine Plants I and II, Detroit Axle, Mt. Elliott Tool and Die and the Plymouth Road Office Complex. Other facilities in southeast Michigan include its global headquarters and Technology Center, Chelsea Proving Grounds, Global Engine Manufacturing Alliance (GEMA), Sterling Heights Assembly Plant, Sterling Heights Stamping Plant, Trenton Engine Plant, Warren Stamping Plant and Warren Truck Assembly Plant. First Call Analyst:
FCMN Contact:
Source: Chrysler LLC
CONTACT: Roger Benvenuti, +1-248-512-4634 (office), +1-248-841-3684
(cell), rjb2@chrysler.com, or Michele Tinson, +1-248-512-0366 (office),
+1-248-705-2456 (cell), mt19@chrysler.com, both of Chrysler LLC Web site: http://media.chrysler.com/
http://www.chrysler.com/ NOTE TO EDITORS: For more information, please visit the Chrysler media site at http://cgmedia.daimlerchrysler.com. For more information about 2007 labor negotiations, please visit http://www.chryslerlabortalks07.com. -------
Profile: automotive-news
posted by automotive-news # 1:07 PM
Infinity Property and Casualty Corporation Prepared to Handle Claims From California Wildfires
Infinity Property and Casualty Corporation Prepared to Handle Claims From California Wildfires BIRMINGHAM, Ala., Oct. 24 /PRNewswire-FirstCall/ -- Infinity Property and Casualty Corporation's claims department is prepared to assist policyholders with losses due to the wildfires spreading across Southern California. Infinity policyholders needing to report a claim or ask a question about their automobile insurance policy may call Infinity's claims department at (800) 344-1661. Infinity Property and Casualty Corporation (NASDAQ:IPCC) is a national provider of personal automobile insurance with a concentration on nonstandard auto insurance. Its products are offered through a network of approximately 14,000 independent agencies. For more information about Infinity, please visit http://www.ipacc.com/.
First Call Analyst:
FCMN Contact:
Source: Infinity Property and Casualty Corporation
CONTACT: Amy Starling, AVP, Investor Relations of Infinity Property and
Casualty Corporation, +1-205-803-8186 Web site: http://www.ipacc.com/
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Profile: automotive-news
posted by automotive-news # 1:05 PM
Valeo's Commitment Toward Enhanced Air Quality Inside the Cabin: New Fragrance Diffuser and Vitamin C Filter
Valeo's Commitment Toward Enhanced Air Quality Inside the Cabin: New Fragrance Diffuser and Vitamin C Filter TOKYO, October 24/PRNewswire-FirstCall/ -- As people spend more and more time inside their car, the need
for air purification has grown, and has become one of end-users key
expectations in today's vehicles. Focusing on this new trend, Valeo announces
the creation of a fragrance diffuser and a Vitamin C filter that complement
its existing air quality range, for increased well-being and comfort inside
the cabin. The Valeo fragrance diffuser provides a wide range of
sophisticated fragrances and creates a personalized atmosphere inside the
vehicle cabin. It is located in the air conditioning unit or as a stand alone
module in the cabin. The Vitamin C filter offers cosmetic functions for the
driver and the passengers, and acts as a skin moisturizer. These two products
are part of Valeo's Air Care range. Air quality inside the vehicle cabin can be 2 to 5 times
poorer than outside due to additional pollutants coming from raw material
emissions (plastics, textiles and foam), vehicle use (cigarettes, pets,
food..) and generation of micro-organisms in the air conditioning system and
in the cabin. To address this issue Valeo has developed new technologies to
improve filter performance. Two concrete examples are the electrostatic
filter that catches ultra-fine particles (not treated today by conventional
filters) and the anti-allergen filter composed of a natural anti-allergen
coating able to prevent allergies and asthma crisis. An innovative antiseptic
product developed by Valeo helps to eliminate bad smells coming from air
conditioning systems. In addition, air inside the cabin can be purified with
an ion generator technology, already available on some vehicles in Japan. Valeo is an independent industrial group dedicated to the
design, production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive suppliers. The
Group has 136 production sites, 68 R&D centers, 9 distribution platforms, and
employs 74,800 people in 30 countries. For all additional information, please contact: Claire Vidal Pilo, Media Relations, Tel: +33-1-40-55-21-26
claire.vidal-pilo@valeo.com Sylvie Delion, Media Relations, Tel: +33-1-40-55-20-96
sylvie.delion@valeo.com For more information about the Group and its activities,
please visit our web site http://www.valeo.com
Source: Valeo Management Services
For all additional information, please contact: Claire Vidal Pilo, Media Relations, Tel: +33-1-40-55-21-26, claire.vidal-pilo@valeo.com. Sylvie Delion, Media Relations, Tel: +33-1-40-55-20-96, sylvie.delion@valeo.com
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Profile: automotive-news
posted by automotive-news # 1:01 PM
Park4U(TM) , the Valeo Art of Parking Simplicity at the International Tokyo Motor Show
Park4U(TM) , the Valeo Art of Parking Simplicity at the International Tokyo Motor Show TOKYO, October 24/PRNewswire-FirstCall/ -- Park4U(TM), the very latest innovation available on the park
assist market, has been fitted on the Volkswagen Touran since April 2007, and
is now also fitted on the Cross Touran and the Tiguan. As well as achieving
the ongoing confidence of Volkswagen, Valeo has also announced that its
products will be fitted on five other makes of vehicles in the coming months.
Valeo's new "standard of simplicity" continues to inspire the market. In the space of a few seconds, the vehicle can be parked
without the driver even touching the steering wheel-the perfect retort to
people who say parking has to be complicated. Drivers can now focus all their
attention on the vehicle's surroundings, which is a significant point when
you consider that for example in Germany one damage claim to car insurers out
of three comes from failed parking maneuvers. This ultrasonic technology-based driving assistance system, a
world premiere, automatically steers the car into the parking slot in a few
seconds. Drivers can take their hands off the wheel, but keep their eyes on
the road as they control the braking and acceleration of the operation at any
time. The next generation of the system will allow drivers to park
in even smaller spaces (only 40cms in front and behind the car) as well as
enabling drivers to exit automatically. In the future, with the recent
acquisition of Connaught Electronics, Valeo's parking assistance systems will
provide full visibility to the driver of the vehicle's surroundings and
enable increasingly complex parking manoeuvres to be carried out in full
comfort. Valeo is an independent industrial group dedicated to the
design, production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive suppliers. The
Group has 136 production sites, 68 R&D centers, 9 distribution platforms, and
employs 74,800 people in 30 countries. For more information about the Group and its activities,
please visit our web site http://www.valeo.com
For all additional information, please contact: Claire Vidal Pilo,
Media Relations,
Tel: +33-1-40-55-21-26,
claire.vidal-pilo@valeo.com Sylvie Delion,
Media Relations,
Tel: +33-1-40-55-20-96,
sylvie.delion@valeo.com Source: Valeo Management Services Claire Vidal Pilo, Media Relations, Tel: +33-1-40-55-21-26, claire.vidal-pilo@valeo.com; Sylvie Delion, Media Relations, Tel: +33-1-40-55-20-96, sylvie.delion@valeo.com
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Profile: automotive-news
posted by automotive-news # 1:00 PM
Calls From RV Users Create Need for Heated Hose This Winter
Calls From RV Users Create Need for Heated Hose This Winter Industry's first, electric-heated water hose for RVs, boats, job site trailers, small farmers COLUMBUS, Ohio, Oct. 24 /PRNewswire/ -- After years of enthusiastic encouragement from recreation vehicle (RV) owners across North America, the Conrad Company today introduced a unique solution to combat freezing water in external supply lines. The self-monitoring, NoFreezeWaterHose is designed to keep water from freezing before it reaches the RV, thus allowing the owners to rest easy knowing their external water line is safe. The easy-to-install water hose connects like any ordinary hose and plugs into a standard 115v electrical outlet. It can also be used for job site trailers, boats, hard-to-plumb areas and small farmers. "Gone are the dangerous solutions. You'd be surprised what people try to create with a little heat tape, duct tape and a garden hose. We've seen it all," said Edward Conrad, president of The Conrad Company and the engineer behind the hose. "We created these hoses as a result of requests from RV users, then we started getting orders from other industries. And with RV use growing exponentially, there was no simple product specifically designed to eliminate this problem in cold weather," added Conrad. Customers can visit http://www.nofreezehose.com/ or call toll free at 1(888) 878-7056 for more information including hose specifications, pricing and ordering. The Conrad Company, based in Columbus, Ohio, has been serving Fortune 500 companies since 1973. The company has maintained an industry-wide reputation for being a quality manufacturer specializing in, but not limited to, heated hose assemblies and flexible heaters. Their products range from flexible tape heaters to large diameter heated and insulated piping assemblies. They serve multiple industries and more than 600 corporations worldwide. Media Contact: Ken Morris
(888) 878-7056
support@nofreezewaterhose.com First Call Analyst:
FCMN Contact:
Source: The Conrad Company
CONTACT: Ken Morris of The Conrad Company, +1-888-878-7056,
support@nofreezewaterhose.com Web site: http://www.nofreezewaterhose.com/
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Profile: automotive-news
posted by automotive-news # 1:00 PM
Valeo Driving Assistance, From Innovations to Valeo Added Applications
Valeo Driving Assistance, From Innovations to Valeo Added Applications TOKYO, October 24/PRNewswire-FirstCall/ -- Valeo's Driving Assistance Domain strategy focuses on the development of
systems that continuously monitor the vehicle's immediate external
surroundings and then inform the driver, and other road users, of all
potential unseen hazards. If necessary, the appropriate corrective action is
triggered. "Driving Assistance" technologies developed by Valeo in the
past years such as blind spot detection, lane departure warning and
semi-automatic parking have now become a reality on the road and will
continue in the future to be expanded on a wide range of vehicles as the
need for safety and comfort grows. Indeed latest studies conducted among drivers in Europe, Asia
and the United States clearly show that driver expectations for future
vehicles relate primarily to safety and in particular active safety for
collision avoidance. The studies reveal that the most important purchasing
criteria of consumers is safety, quoted by 65% of respondents, ahead of
reliability (52%) and comfort (39%). Drivers wish to be fully informed about
their environment and alerted to potential hazards so as to be able to take
appropriate decisions, e.g. whether to brake, accelerate, turn, etc. In order to proactively answer these market expectations,
Valeo is focusing on cameras, sensors and radars that provide a safety net
around the vehicle for improved driver's comfort. Using multifunction camera technology, Valeo is creating now
standards on the market for driving assistance systems, - LaneVue(TM): Lane Departure Warning System. This system
detects involuntary changes in vehicle trajectory and alerts the driver with
a sound, visual or vibratory warning signal. LaneVue(TM): already equips
Infiniti models in the USA. - BeamAtic(TM) : High beam/low beam automation. This system
enables automatic switching between high and low beams according to traffic
conditions. The next generation BeamAticplus(TM) offers progressive
automation to avoid glaring. With ultrasonic sensor-based Park4U(TM), Valeo demonstrated
its ability to offer market-driven innovations that truly improve drivers'
daily driving experience. Launched on the Volkswagen Touran, this
semi-automatic parking system is now extended to Tiguan, Cross Touran, and
soon other vehicles of the Volkswagen group. As well as achieving the ongoing
confidence of Volkswagen, Valeo has also announced that this system will be
fitted on five other makes of vehicle in the coming months. Valeo's new
"standard of simplicity" continues to inspire the market. In the future, with the recent acquisition of Connaught
Electronics, Valeo's parking assistance systems will provide full visibility
to the driver of the vehicle's surroundings and enable increasingly complex
parking manoeuvres to be carried out in full comfort. Launched on GM brands, Cadillac and Buick, as well as on the
new Jaguar XF, the radar -based blind spot detection system supplied by Valeo
Raytheon is becoming a must-have technology for safety on the road with more
than 26 vehicles planned to be equipped by 2010. This multiple-beam radar system warns the driver if there is a
vehicle present in the blind spot on either side of the vehicle. A warning
symbol appears in the rearview mirror, and this visual warning may also be
accompanied by an audible signal. Valeo is an independent industrial group dedicated to the
design, production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive suppliers. The
Group has 136 production sites, 68 R&D centers, 9 distribution platforms, and
employs 74,800 people in 30 countries. For more information about the Group and its activities, please visit our
web site http://www.valeo.com
For all additional information, please contact:
Claire Vidal Pilo,
Media Relations,
Tel: +33-1-40-55-21-26,
claire.vidal-pilo@valeo.com;
Sylvie Delion,
Media Relations,
Tel: +33-1-40-55-20-96,
sylvie.delion@valeo.com Source: Valeo Management Services For all additional information, please contact: Claire Vidal Pilo, Media Relations, Tel: +33-1-40-55-21-26, claire.vidal-pilo@valeo.com; Sylvie Delion, Media Relations, Tel: +33-1-40-55-20-96, sylvie.delion@valeo.com
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Profile: automotive-news
Green By Nature: Valeo's Eco-Friendly Technologies Exhibited at Tokyo Motor Show 2007
Green By Nature: Valeo's Eco-Friendly Technologies Exhibited at Tokyo Motor Show 2007 TOKYO, October 24/PRNewswire-FirstCall/ -- Valeo's eco-friendly technologies will be exhibited at the
Tokyo Motor Show to demonstrate that Valeo is indeed Green by Nature. Valeo
has long been dedicated to protecting the environment through eco-friendly
products and systems as well as cleaner factories and manufacturing
processes. Today, Valeo's Green by nature solutions, when combined, can
offer up to 40% fuel savings and CO2 emissions reduction: E-Valve: Electromagnetic Valve Actuation - 15-20% reduction in
CO2 emissions Valeo E-Valve technology is based on a variable valve
actuation system that replaces the conventional mechanical system for major
fuel economy, improved engine performance and easier driving. StARS Micro-Hybrid - 6-15% reduction in CO2 emissions The StARS System features the capacity to stop and then
restart the engine immediately and silently. StARS saves fuel and reduces
emissions significantly when the vehicle is stopped at red lights and in
traffic jams without disrupting the motorist's normal driving habits. This
system was first launched on the Citroën C3 and this year will be launched on
the smart fortwo mhd (micro hybrid drive). Double Dry Clutch - 4-6% reduction in CO2 emissions An alternative to hydraulic automatic transmissions, the
Double Dry Clutch transmission features one clutch for even gears and one
clutch for odd gears. This provides the comfort of an automatic transmission
and the fuel efficiency of a manual transmission. THEMIS(TM) Valve - up to 4% reduction in CO2 emissions The Themis Valve offers full coolant flow management
throughout the engine, radiator and heater and is integrated into the engine
coolant outlet. Fuel economy, reduced emissions, faster engine warm-up and
improved HVAC performance are among the numerous benefits of the THEMIS(TM)
Valve. Cooled Exhaust Gas Recirculation system - 5-7% reduction in
CO2 emissions The primary function of Cooled EGR Systems has been to reduce
the formation of nitrogen oxides in diesel engines. Recently, Cooled EGR has
been applied to gasoline en | |
