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Automotive News
KLM Performance's Automotive News coverage is updated daily with news updates published as they are released to the media. These updates cover the latest developments in trucks, add-on components, racing, and the truck enthusiast lifestyle. Feel free to discuss any news releases in KLM's Discussion Forum.
Wednesday, February 6, 2008
Head to Vegas to celebrate legend's 85th birthday
Head to Vegas to celebrate legend's 85th birthdayDallas Morning News - In 1959, he won the 24 Hours of LeMans. After a heart ailment forced him to retire from racing in 1960, Mr. Shelby forged an agreement with Ford Motor Co. and founded a company that created the awe-inspiring Cobra sports car OJ and Judicial Activism: Judge Jackie Glass should be reprimanded!OpEdNews.com - Michael Morris as worked for ABC News Radio covering auto racing venues such as LeMans and SEMA. His special interests in journalism are politics with special interest in the nation’s court system, especially the Family Court System and the SPECIAL EVENT (SEVENOAKS, UK) - MOTORSPORT SAFETY FUND's 2007 CHARITY The Auto Chanel - SPECIAL EVENT (SEVENOAKS, UK) - MOTORSPORT SAFETY FUND's 2007 CHARITY SHOWCASES 1959 LEMANS WIN The Motorsport Safety Fund's 2007 charity Christmas card will warm the heart of all British motorsport fans. It features Peugeot Sebring Winter Test summaryMotorsport.com - Peugeot Sport took part in the three-day test organised by the American Le Mans Series at Sebring, Florida (Monday January 28 to Wednesday January 30), where three drivers took turns at the wheel of the 908 HDi FAP. Thanks to previous participations 2005 USATF National Club Track & Field ChampionshipsUSA Track and Field - The LeMans Track Club of New York City placed second with 195.5 points, closely followed by the Shore Athletic Club of New Jersey with 180 points. Shore AC won the men's team title with 140 points, while LeMans took the women's championship with Equal Rights: Men and Women and Reality! (Here we go!)OpEdNews.com - Michael Morris as worked for ABC News Radio covering auto racing venues such as LeMans and SEMA. His special interests in journalism are politics with special interest in the nation’s court system, especially the Family Court System and the Loomis estate gives $2.8 millionAlbany Democrat-Herald - The news surprised nonrofits and even close friends like the Lemans. “I worried about their finances. I had no idea,” said Craig Leman. “I offered to help with medical expenses.” “I think people were surprised at the size of their estate Henzler named Porsche factory driver, joins LizardsMotorsport.com - alms & lemans henzler named porsche factory driver; will drive for alms lizards wolf henzler joins porsche as works driver atlanta What will $32 Trillion Dollars buy?OpEdNews.com - Michael Morris as worked for ABC News Radio covering auto racing venues such as LeMans and SEMA. His special interests in journalism are politics with special interest in the nation’s court system, especially the Family Court System and the
posted by automotive-news # 8:15 PM
Commercial Vehicle Group Reports Fourth Quarter and Full Year 2007 Results and Revised 2008 Estimates
Commercial Vehicle Group Reports Fourth Quarter and Full Year 2007 Results and Revised 2008 Estimates NEW ALBANY, Ohio, Feb. 6 /PRNewswire-FirstCall/ -- Commercial Vehicle Group, Inc. (NASDAQ:CVGI) today reported revenues of $178.5 million for the fourth quarter ended December 31, 2007. Operating income for the fourth quarter was $4.7 million and a net loss was reported for the quarter of $3.3 million, or $0.15 per diluted share. Fully-diluted earnings per share for the fourth quarter of 2007 included a non-cash, non-operating loss on the marking- to-market of forward foreign exchange contracts of approximately $4.9 million, or $0.15 per diluted share. Excluding the impact of its mark-to-market adjustment, fully diluted earnings per share would have been approximately break-even for the quarter. Fully diluted shares outstanding for the quarter were 21.5 million. "The fourth quarter of 2007 caps the end of a difficult year for CVG," said Mervin Dunn, president and chief executive officer of Commercial Vehicle Group. "We faced multiple challenges this past year, including the expected downturn in the Class 8 market, major product mix swings, customer schedule fluctuations and the effects of certain currency exchange rate fluctuations. We also made some strategic decisions with the closure of our Seattle facility and the acquisition of three companies during the fourth quarter, all of which negatively impacted this past quarter more than we anticipated. We will continue to focus on our long-term growth strategy as well as improving our performance and integrating our acquisitions as we move into 2008," added Dunn. Revenues for the quarter compared to the prior-year period decreased by approximately $40.3 million, due primarily to the decrease in the North American Class 8 heavy truck market. Operating income decreased by approximately $13.1 million from the prior year quarter and net income decreased by approximately $14.4 million from the prior year quarter primarily as a result of the decrease in revenues as well as the negative impact of marking-to-market the Company's forward foreign exchange contracts. The Company generated approximately $3.8 million of positive cash flow during the quarter and used approximately $30.0 million of cash for its acquisition of certain assets and liabilities of PEKM Kabeltechnik s.r.o., the Fabrication Division of Gage Industries, Inc. and Short Bark Industries, LLC. Net debt (calculated as total debt less cash and cash equivalents) at the end of the quarter was approximately $149.9 million. The Company reported revenues of $696.8 million for the twelve-month period ended December 31, 2007 compared to $918.8 million in the prior-year period. Operating income for the twelve-month period was $18.8 million compared to $97.5 million last year. The net loss for the twelve-month period was $3.3 million, or $0.15 per diluted share, compared to net income of $58.1 million, or $2.69 per diluted share, in the prior twelve-month period. Fully- diluted earnings per share for the full year 2007 included a non-cash, non- operating loss on the marking-to-market of forward foreign exchange contracts of approximately $10.0 million, or $0.30 per diluted share. Excluding the impact of its mark-to-market adjustments, fully diluted earnings per share would have been approximately $0.15 for the full year 2007. Fully diluted shares outstanding for the twelve-month period ended December 31, 2007 were 21.4 million compared to 21.5 million in the prior-year period. "While 2007 presented many challenges, we believe we made great strides towards our long-term strategy and competitiveness," said Chad M. Utrup, chief financial officer of Commercial Vehicle Group. "Our fourth quarter operating results were negatively impacted by certain incremental transfer and startup costs from our Seattle facility closure, as well as the initial performance and integration of the three acquisitions we made during the quarter. We spent considerable time addressing these short-term issues during the quarter and look forward to the positive benefits from each of these actions going forward," added Utrup. The Company reported its 2008 full year estimates for revenues in the range of $762.0 to $814.0 million and operating income in the range of $17.0 to $30.0 million. Depreciation and amortization is estimated to be in the range of $21.0 million and fully diluted earnings per share are expected to be in the range of $0.10 to $0.50 based upon 21.7 million diluted shares. These estimates are based upon North American Class 8 truck production levels in the range of 175 thousand to 215 thousand units. A conference call to review fourth quarter and full year 2007 results and preview the upcoming 2008 estimates is scheduled for Thursday, February 7, 2008 at 10:00 a.m. ET. Interested participants may listen to the live conference call by dialing (647) 427-3417 and asking for the CVG fourth quarter 2007 earnings conference call. A recording of this call will be available until midnight, February 21, 2008 by dialing (402) 220-0608 and entering code 33226520. To listen to a live Webcast of the conference call, go to Commercial Vehicle Group's Website, www.cvgrp.com, click on "Investor Relations" and then the Webcast icon. The Webcast replay will be available from 12:00 p.m. ET, Thursday, February 7, 2008 until midnight, Thursday, February 21, 2008. Listening to the Webcast requires speakers and Windows Media Player. If you do not have Media Player, download the free software at www.windowsmedia.com. About Commercial Vehicle Group, Inc. Commercial Vehicle Group is a leading supplier of fully integrated system solutions for the global commercial vehicle market, including the heavy-duty truck market, the construction and agriculture market and the specialty and military transportation markets. The Company's products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry, molded products and floor systems, cab structures and components, mirrors, wiper systems, electronic wiring harness assemblies and controls and switches specifically designed for applications in commercial vehicle cabs. The Company is headquartered in New Albany, OH with operations throughout North America, Europe and Asia. Information about the Company and its products is available on the internet at www.cvgrp.com. Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. In particular, this press release may contain forward-looking statements about Company estimates for future periods with respect to revenues and earnings per share or other financial information. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to: (i) the Company's ability to develop or successfully introduce new products; (ii) risks associated with conducting business in foreign countries and currencies; (iii) general economic or business conditions affecting the markets in which the Company serves; (iv) increased competition in the heavy-duty truck market; (v) the Company's failure to complete or successfully integrate additional strategic acquisitions; (vi) the impact of changes in governmental regulations on our customers or on our business; (vii) the loss of business from a major customer or the discontinuation of particular commercial vehicle platforms; and (viii) various other risks as outlined in the Company's SEC filings. There can be no assurance that statements made in this press release relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary statements. COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts) Three Months Ended Twelve Months Ended
December 31, December 31,
2007 2006 2007 2006
(unaudited)(unaudited) (unaudited)(unaudited) REVENUES $178,501 $218,778 $696,786 $918,751 COST OF REVENUES 162,567 188,668 620,145 768,913 Gross Profit 15,934 30,110 76,641 149,838 SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES 10,664 12,257 55,493 51,950 AMORTIZATION EXPENSE 363 102 894 414 RESTRUCTURING CHARGES 253 - 1,433 - Operating Income 4,654 17,751 18,821 97,474 OTHER EXPENSE (INCOME) 4,805 (748) 9,361 (3,468) INTEREST EXPENSE 3,732 3,508 14,147 14,829 LOSS ON EARLY EXTINGUISHMENT OF
DEBT - - 149 318 (Loss) Income Before
Provision for Income Taxes (3,883) 14,991 (4,836) 85,795 (BENEFIT) PROVISION FOR INCOME
TAXES (586) 3,849 (1,585) 27,745 Net (Loss) Income $(3,297) $11,142 $(3,251) $58,050 (LOSS) EARNINGS PER COMMON SHARE:
Basic $(0.15) $0.52 $(0.15) $2.74
Diluted $(0.15) $0.51 $(0.15) $2.69 WEIGHTED AVERAGE SHARES
OUTSTANDING:
Basic 21,516 21,306 21,439 21,151
Diluted 21,516 21,660 21,439 21,545 Reconciliation to Net (Loss)
Income:
Net (Loss) Income $(3,297) $11,142 $(3,251) $58,050
Depreciation & Amortization 4,636 3,817 16,425 14,983
Interest Expense 3,732 3,508 14,147 14,829
(Benefit) Provision for Income
Taxes (586) 3,849 (1,585) 27,745
Loss on Early Extinguishment of
Debt - - 149 318
Restructuring Charges 253 - 1,433 -
Miscellaneous (Income) (114) (2) (22) (15)
Adjusted EBITDA (1) $4,624 $22,314 $27,296 $115,910 Supplemental Information:
Noncash loss (gain) on forward
exchange contracts $4,919 $(1,496) $9,967 $(4,203)
Nonrecurring provision (benefit)
for prior period debt service $- 750 $(584) 750 COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts) December 31, December 31,
2007 2006
(unaudited) (unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $9,867 $19,821
Accounts receivable, net 107,687 123,471
Inventories, net 96,385 88,723
Prepaid expenses 16,508 24,272
Deferred income taxes 10,335 8,819
Total current assets 240,782 265,106
PROPERTY, PLANT AND EQUIPMENT, net 98,258 90,388
GOODWILL 151,189 134,766
INTANGIBLE AND OTHER ASSETS, net 106,206 100,562
TOTAL ASSETS $596,435 $590,822 LIABILITIES AND STOCKHOLDERS' INVESTMENT
CURRENT LIABILITIES:
Current maturities of long-term debt $116 $2,158
Accounts payable 93,033 86,610
Accrued liabilities 33,115 40,970
Total current liabilities 126,264 129,738
LONG-TERM DEBT, net of current maturities 159,609 159,956
OTHER LONG-TERM LIABILITIES 45,227 36,223
Total liabilities 331,100 325,917
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' INVESTMENT:
Common stock, $0.01 par value per
share; 30,000,000 shares authorized;
21,536,814 and 21,368,831 shares
issued and outstanding 215 214
Treasury stock purchased from
employees; 28,153 shares (414) (115)
Additional paid-in capital 177,421 174,044
Retained earnings 88,818 92,007
Accumulated other comprehensive
income (loss) (705) (1,245)
Total stockholders' investment 265,335 264,905
TOTAL LIABILITIES AND
STOCKHOLDERS' INVESTMENT $596,435 $590,822 Footnotes to Press Release (1) Adjusted EBITDA is a non-GAAP financial measure that is reconciled to
net income, its most directly comparable GAAP measure, in the
accompanying financial tables. Adjusted EBITDA is defined as net
earnings before interest, taxes, depreciation, amortization,
gains/losses on the early extinguishment of debt, miscellaneous
income/expenses, restructuring charges and cumulative effect of
changes in accounting principle. In calculating Adjusted EBITDA, the
Company excludes the effects of gains/losses on the early
extinguishment of debt, miscellaneous income/expenses, restructuring
charges and cumulative effect of changes in accounting principles
because the Company's management believes that some of these items may
not occur in certain periods, the amounts recognized can vary
significantly from period to period and these items do not facilitate
an understanding of the Company's operating performance. The Company's
management utilizes Adjusted EBITDA, in addition to the supplemental
information, as an operating performance measure in conjunction with
GAAP measures, such as net income and gross margin calculated in
conformity with GAAP. The Company's management uses Adjusted EBITDA, in addition to the
supplemental information, as an integral part of its report and
planning processes and as one of the primary measures to, among other
things: (i) monitor and evaluate the performance of the Company's business
operations;
(ii) facilitate management's internal comparisons of the Company's
historical operating performance of its business operations;
(iii) facilitate management's external comparisons of the results of
its overall business to the historical operating performance
of other companies that may have different capital structures
and debt levels;
(iv) review and assess the operating performance of the Company's
management team and as a measure in evaluating employee
compensation and bonuses;
(v) analyze and evaluate financial and strategic planning
decisions regarding future operating investments; and
(vi) plan for and prepare future annual operating budgets and
determine appropriate levels of operating investments.
The Company's management believes that Adjusted EBITDA, in addition to
the supplemental information, is useful to investors as it provides
them with disclosures of the Company's operating results on the same
basis as that used by the Company's management. Additionally, the
Company's management believes that Adjusted EBITDA, in addition to the
supplemental information, provides useful information to investors
about the performance of the Company's overall business because the
measure eliminates the effects of certain recurring and other unusual
or infrequent charges that are not directly attributable to the
Company's underlying operating performance. Additionally, the
Company's management believes that because it has historically
provided a non-GAAP financial measure in previous filings, that
continuing to include a non-GAAP measure in its filings provides
consistency in its financial reporting and continuity to investors for
comparability purposes. Accordingly, the Company believes that the
presentation of Adjusted EBITDA, when used in conjunction with the
supplemental information and GAAP financial measures, is a useful
financial analysis tool, used by the Company's management as described
above, that can assist investors in assessing the Company's financial
condition, operating performance and underlying strength. Adjusted
EBITDA should not be considered in isolation or as a substitute for
net income prepared in conformity with GAAP. Other companies may
define Adjusted EBITDA differently. Adjusted EBITDA, as well as the
other information in this filing, should be read in conjunction with
the Company's financial statements and footnotes contained in the
documents that the Company files with the U.S. Securities and Exchange
Commission.
First Call Analyst:
FCMN Contact: sandy.cashell@cvgrp.com
Source: Commercial Vehicle Group
CONTACT: John Hyre, Investor Relations, Commercial Vehicle Group, Inc.,
+1-614-289-5157 Web site: http://www.cvgrp.com/
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Profile: automotive-news
posted by automotive-news # 8:03 PM
Digital Imaging Resources Announces Completion of Acquisition of Boomerang Systems, Inc.
Digital Imaging Resources Announces Completion of Acquisition of Boomerang Systems, Inc. MORRISTOWN, N.J., Feb. 6 /PRNewswire-FirstCall/ -- Digital Imaging Systems, Inc., ("Digital" or the "Company") (BULLETIN BOARD: DGIR) announced today that it has completed the previously announced acquisition of Boomerang Systems, Inc. Boomerang is engaged in the design, development, and initial marketing of automated racking and retrieval systems for automobile parking and automated racking and retrieval of containerized self-storage units. Digital issued as consideration for the acquisition 200,000,000 pre- reverse split shares (13,333,334 shares on a post one-for-fifteen reverse split basis) of its Common Stock. Closing of the merger was subject to (i) the completion of a private placement of 30,000,000 pre-reverse split shares (2,000,000 post-split shares) of Common Stock of Digital pursuant to a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, (the "Securities Act") resulting in net proceeds to Digital of approximately $1,500,000, (ii) the completion of a one-for-fifteen reverse stock split of Digital's outstanding shares, and (iii) completion by Digital of all filing requirements under the Securities Exchange Act of 1934, as amended, and the passage of all notice periods. This news release does not constitute an offer of any securities of Digital for sale. The securities issued in the merger transaction and sold in the private sale of Digital's shares were not registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Additional information may be obtained by contacting Maureen Cowell, Digital's Secretary, at 973-538-2247. Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995. With the exception of historical matters, the matters discussed in this press release are "forward-looking statements" as defined under the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Digital intends that the forward-looking statements herein be covered by the safe-harbor provisions for forward-looking statements contained in the Securities Exchange Act of 1934, as amended, and this statement is included for the purpose of complying with those safe-harbor provisions. Forward- looking statements include, among others, the success of the combined companies in implementing the Boomerang business plan in the future and that Boomerang will achieve material revenues. There can be no assurance that the completion of the merger transaction will result in Digital having successful business activities or that the operations of the two companies can be successfully combined and operated. There can be no assurance that the combined companies can be successfully managed after the completion of the transaction or that there will be adequate management available for that purpose. Many factors may adversely affect the future operations of Boomerang including the possibility that it will be unable to achieve material revenues, that it will be unable to market its automated systems profitably, or that other companies with significantly larger staffs, revenues and assets may not compete with Boomerang and limit the ability of Boomerang to market its systems. Important factors that could cause Digital to be unable to meet its goals and objectives are also described in Digital's periodic filings with the Securities and Exchange Commission, including Digital's annual report on Form 10-KSB and quarterly reports on Form 10-QSB. First Call Analyst:
FCMN Contact:
Source: Digital Imaging Systems, Inc.
CONTACT: Maureen Cowell, Secretary of Digital Imaging Systems, Inc.,
+1-973-538-2247
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Profile: automotive-news
posted by automotive-news # 7:40 PM
USW Applauds Preliminary Antidumping Duties Placed on Off-The-Road Tire Imports From China
USW Applauds Preliminary Antidumping Duties Placed on Off-The-Road Tire Imports From China WASHINGTON, Feb. 6 /PRNewswire-USNewswire/ -- The United Steelworkers (USW) welcomed today's preliminary decision to impose antidumping duties on new pneumatic off-the-road (OTR) tire imports from China announced by the U.S. Commerce Department. (Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO ) "Today's decision will help level the playing field for U.S. workers by requiring Chinese tire imports to be priced fairly," said USW International President Leo W. Gerard. "This case shows the importance of vigorous enforcement of our trade laws as a first line of defense against unfair trade practices that harm American industries and jobs." The Commerce Department investigated four individual Chinese producers who received rates ranging from 11 to 52 percent. Other companies receiving separate rates are subject to a margin that reflects the weighted average of these individual rates, or 25 percent. For companies not entitled to individual rates, the country wide rate of 210 percent will apply. As a result of the determination, all importers of OTR tires from China will have to post a bond or cash deposit equal to the margin amounts pending the final determination this June. The agency will now continue the proceeding by holding hearings, conducting verifications of information, and reaching a final determination by early June of this year. The International Trade Commission (ITC) will also investigate the issue of injury and reach a determination on that issue later. "The USW will continue to be actively engaged in this ongoing investigation to ensure final margins accurately reflect the full scope of dumping that is occurring," said Gerard. "We'll be pushing China and its tire producers to cooperate with the investigation and asking the Commerce Department to fully and fairly enforce the law against dumped imports." The USW estimates it represents 70 percent of the domestic OTR tire makers with workers employed at Titan production plants employing about 1,355 workers in Des Moines, Iowa; Freeport, Ill.; and Bryan, Ohio; plus a total of about 4,215 employed at tire plants of Bridgestone-Firestone in Des Moines and Bloomington, Ill.; Denman Tire in Leavittsburg, Ohio; and Goodyear Tire and Rubber in Topeka, Kan., and Buffalo. Off-the-road tires are designed for use on a broad array of agricultural, construction and industrial vehicles. Titan Tire Corporation, a U.S. producer, and the USW filed a petition in June of last year, alleging that the Chinese were dumping OTR tires and causing injury to U.S. producers and workers. Dumping is selling imported goods in the U.S. at less than fair value. If both Commerce and the ITC issue final affirmative determinations, an antidumping duty order will be issued and future imports of the tires from China will be assessed with remedial duties to compensate for the unfair pricing. Titan and USW also filed a countervailing duty petition last June, saying that Chinese OTR tires were unfairly benefiting from subsidies. Commerce issued its affirmative preliminary determination in that proceeding in December. The two proceedings will now move ahead on the same schedule. First Call Analyst:
FCMN Contact: Photo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
Source: United Steelworkers ( USW )
CONTACT: Gary Hubbard of United Steelworkers, +1-202-778-4384,
+1-202-256-8125 Web Site: http://www.steelworkers-usw.org/
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Profile: automotive-news
posted by automotive-news # 4:59 PM
Dana Appoints Robert H. Marcin Chief Administrative Officer
Dana Appoints Robert H. Marcin Chief Administrative Officer TOLEDO, Ohio, Feb. 6 /PRNewswire/ -- Dana Holding Corporation (NYSE:DAN) today announced that Robert H. Marcin has joined the company as Chief Administrative Officer. In this capacity, Marcin will take on leadership responsibility for human resources, corporate communications, government relations, and labor relations. (Logo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) "Bob brings a wealth of expertise and experience across these inter- related functions," said Dana Executive Chairman and Acting CEO John Devine. "He's a proven leader with the ideal mix of talent and experience to lead the continued development of these areas into world-class functions for Dana." Marcin comes to Dana after a successful 35-year career spanning several disciplines and industries. Most recently, he served as Senior Vice President, Human Resources and Corporate Relations for Visteon Corporation based in Van Buren Township, Mich., from which he retired in 2007. Previously, he served in a number of senior labor relations and human resources positions at Ford Motor Company's world headquarters. Marcin also spent significant time at two Ford subsidiaries, serving as Executive Vice President and Director of Human Resources at First Nationwide Financial Corporation in San Francisco, Calif., and Director of Industrial Relations for Ford Aerospace & Communications Corporation in Palo Alto, Calif. Marcin earned a Bachelor of Science degree in Management Sciences from the State University of New York and an M.B.A. from California State University. He also serves on the Karmanos Cancer Institute Board in Detroit, Mich., and is Vice Chairman of the Board of the American Society of Employers. About Dana Holding Corporation Dana is a world leader in the supply of axles; driveshafts; and structural, sealing, and thermal-management products; as well as genuine service parts. The company's customer base includes virtually every major vehicle and engine manufacturer in the global automotive, commercial vehicle, and off-highway markets, which collectively produce more than 70 million vehicles annually. Based in Toledo, Ohio, the company's continuing operations employ approximately 35,000 people in 26 countries and reported 2006 sales of $8.5 billion, with more than half of this revenue derived from outside the United States. For more information, please visit: http://www.dana.com/.
First Call Analyst:
FCMN Contact: michelle.hards@dana.com
Photo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Dana Holding Corporation
CONTACT: Chuck Hartlage of Dana Holding Corporation, +1-419-535-4728 Web site: http://www.dana.com/ Company News On-Call: http://www.prnewswire.com/comp/226839.html
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Profile: automotive-news
posted by automotive-news # 4:34 PM
NAVTEQ Reports Record Fourth Quarter and Full Year Revenue and Operating Income
NAVTEQ Reports Record Fourth Quarter and Full Year Revenue and Operating Income CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- NAVTEQ Corporation (NYSE:NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, today reported record revenue and operating income for the quarter and fiscal year ended December 31, 2007. Fourth quarter revenue rose 53% over the same period in 2006 to $276.4 million. Operating income was $83.3 million, a 33% increase over last year's fourth quarter. Net income in the quarter grew 44% over the prior year to $61.9 million. Earnings per diluted share in the quarter of $0.61 grew 36% over the same period in 2006. Full year revenue rose 47% over 2006 to $853.4 million. Full year operating income for 2007 was $226.2 million, a 47% increase over the prior year. Net income for the year grew 57% over the prior year to $173.0 million. Earnings per diluted share for the year of $1.73 grew 51% over 2006. "The fourth quarter capped a terrific year of growth and progress for NAVTEQ," said Judson Green, president and chief executive officer. "The performance of our business continued to outpace our forecasts, which enabled us to increase investment in our products and services during the year. We are excited about our prospects as we begin 2008 and we look forward to another successful year." Revenue from NAVTEQ's Europe, Middle East & Africa (EMEA) region totaled $147.1 million in the quarter, up 29% from the fourth quarter of 2006. For the full year, EMEA revenue was $472.5 million, an increase of 31% over 2006. Excluding the impact of foreign currency rate fluctuation, EMEA revenue for the fourth quarter and full year 2007 grew 17% and 22%, respectively. Revenue for the Americas region was $127.6 million in the quarter, a 92% increase over the fourth quarter of 2006. For the full year, revenue in the Americas region was $373.3 million, representing 73% growth over 2006. Asia Pacific revenue was $1.7 million in the quarter, an increase of 115% over the fourth quarter of 2006. For the full year, Asia Pacific revenue of $7.6 million grew 40% over 2006. Cash and marketable securities totaled $462.8 million at December 31, 2007. Net cash provided by operating activities for the full year was $292.9 million. Status of pending merger with Nokia NAVTEQ announced today that the pending merger with Nokia was cleared on December 6, 2007 by the Committee on Foreign Investments in the United States ("CFIUS") under the provisions of the Exon-Florio Amendment to the Defense Production Act of 1950. Completion of the merger is subject to the receipt of European regulatory approval. Nokia is expected to file its Form CO with the European Commission within the next one to two weeks. Supplementary Information In lieu of a conference call, management has provided a PowerPoint document containing supplementary information on the results, which is available in the 'News & Events' section of our IR website at investor.navteq.com. About NAVTEQ NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has over 3,300 employees located in 167 offices in 31 countries. NAVTEQ is a trademark in the U.S. and other countries. All rights reserved. This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. Such statements may include, but are not limited to, planned expenditures and expectations of future financial performance and operating results. The statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under "Item 1A. Risk Factors" in each of the Company's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document. (Logo: http://www.newscom.com/cgi-bin/prnh/20060313/NAVTEQLOGO) NAVTEQ CORPORATION
Condensed Consolidated Statements of Income
(In thousands, except per share data) Quarter Ended Year Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2006 2007 2006 2007
(Unaudited) (Unaudited) Net revenue:
Digital map licensing and
related revenues $174,610 254,692 $565,244 785,461
Advertising 260 14,626 260 49,574
Other 5,821 7,039 16,115 18,352
Total net revenue 180,691 276,357 581,619 853,387 Operating costs and expenses:
Database creation and
delivery costs 77,515 121,944 275,449 395,778
Selling, general, and
administrative expenses 40,373 71,127 152,474 231,458 Total operating costs and
expenses 117,888 193,071 427,923 627,236 Operating income 62,803 83,286 153,696 226,151 Other income 2,956 5,669 10,249 17,884 Income before income taxes 65,759 88,955 163,945 244,035 Income tax expense 22,816 27,043 54,481 71,085 Net income before cumulative
effect of change in accounting
principle 42,943 61,912 109,464 172,950 Cumulative effect of change
in accounting principle,
net of tax - - 506 - Net income $42,943 61,912 $109,970 172,950 Earnings per share of common
stock before cumulative
effect of change in
accounting principle -
Basic $0.46 0.63 $1.18 1.78
Diluted $0.45 0.61 $1.14 1.73 Cumulative effect of change in
accounting principle
per share of common stock -
Basic $- - $0.01 -
Diluted $- - $0.01 - Earnings per share of common
stock -
Basic $0.46 0.63 $1.18 1.78
Diluted $0.45 0.61 $1.15 1.73 Weighted average shares of
common stock outstanding -
Basic 93,470 98,504 93,029 97,350
Diluted 95,852 101,551 95,713 99,985 NAVTEQ CORPORATION
Condensed Consolidated Balance Sheets
(In thousands)
Dec. 31, Dec. 31,
2006 2007
Assets (Unaudited)
Current Assets:
Cash and cash equivalents $122,335 159,857
Short-term marketable securities 137,163 226,126
Accounts receivable, net 126,081 193,505
Deferred income taxes, net 9,232 39,872
Prepaid expenses and other current assets 17,744 32,752
Total current assets 412,555 652,112 Property and equipment, net 27,462 111,687
Capitalized software development
costs, net 18,844 27,084
Long-term deferred income taxes,
net 187,391 198,620
Long-term marketable securities 63,033 76,855
Goodwill and acquired intangible
assets, net 72,814 247,956
Deposits and other assets 12,602 7,503 Total assets $794,701 1,321,817 Liabilities and Stockholders' Equity Current liabilities:
Accounts payable $22,874 32,175
Accrued payroll and related liabilities 33,571 48,935
Other accrued expenses 38,439 52,362
Accrued rebates 16,909 62,279
Deferred revenue 28,618 45,582 Total current liabilities 140,411 241,333 Long-term deferred revenue 2,874 45,148
Other long-term liabilities 2,035 28,762 Total liabilities 145,320 315,243 Stockholders' equity 649,381 1,006,574 Total liabilities and stockholders'
equity $794,701 1,321,817 NAVTEQ CORPORATION
Condensed Consolidated Statements of Cash Flows
(In thousands) Year Ended
Dec. 31, Dec. 31,
2006 2007
(Unaudited) Cash flows from operating activities:
Net income $109,970 172,950
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 29,700 42,931
Deferred income taxes 15,046 10,693
Stock compensation expense 14,501 20,844
Cumulative effect of change in accounting
principle (506) -
Provision for doubtful receivables 2,548 4,312
Noncash other 1,215 344
Changes in operating assets and
liabilities, net of effects
of acquisitions (32,466) 40,872 Net cash provided by operating
activities 140,008 292,946 Cash flows from investing activities:
Acquisition of property and equipment (17,834) (74,606)
Capitalized software development costs (9,055) (20,552)
Net purchases of marketable securities (65,408) (98,372)
Payments for acquisitions, net of cash
acquired (42,216) (90,490)
Note receivable (300) - Net cash used in investing activities (134,813) (284,020) Cash flows from financing activities:
Issuance of common stock and other equity
transactions 26,256 19,579 Net cash provided by financing
activities 26,256 19,579 Effect of exchange rate changes on cash 5,814 9,017 Net increase in cash and cash
equivalents 37,265 37,522 Cash and cash equivalents at beginning of
period 85,070 122,335 Cash and cash equivalents at end of period $122,335 159,857
First Call Analyst:
FCMN Contact:
Photo: http://www.newscom.com/cgi-bin/prnh/20060313/NAVTEQLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: NAVTEQ Corporation
CONTACT: Editorial, Jennifer Schuh of NAVTEQ Corporation,
+1-312-894-3913, jennifer.schuh@navteq.com; or Bob Richter, +1-212-802-8588,
bob@richtermedia.com, for NAVTEQ Corporation; or Investor Relations, Thomas R.
Fox of NAVTEQ Corporation, +1-312-894-7500, investorrelations@navteq.com Web site: http://www.navteq.com/
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Profile: automotive-news
posted by automotive-news # 4:22 PM
Energy Conversion Devices Appoints Christopher Belden as Independent Board Member
Energy Conversion Devices Appoints Christopher Belden as Independent Board Member ROCHESTER HILLS, Mich., Feb. 6 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (NASDAQ:ENER) announced today it has appointed Christopher P. Belden to its Board of Directors, effective February 5, 2008. Mr. Belden was most recently Group Vice President of Global Operations for Applied Materials, Inc., a global leader in nanomanufacturing technology solutions for the electronics industry, where he was responsible for volume manufacturing, supply chain management, reliability, quality and worldwide facilities. "We are pleased to add Chris to our Board and look forward to the unique experience, insight and leadership he will bring," said Mark Morelli, ECD President and CEO. "His expertise will be particularly valuable in regards to our proprietary photovoltaic manufacturing equipment as we continue to expand our production capacity." Mr. Belden, 47, prior to joining Applied Materials, was Senior Vice President of Manufacturing for Motorola Semiconductor Products Sector, which became known as Freescale Semiconductor in 2004. During his 22 years with Motorola, he held positions of increasing responsibility while managing manufacturing and operations, culminating with accountability for the process technology pipeline from research to product delivery including worldwide manufacturing and supply chain operations. With the addition of Mr. Belden, ECD's Board of Directors now has eight members, seven of whom are independent directors. About Energy Conversion Devices Energy Conversion Devices, Inc. (NASDAQ:ENER) manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. Distributed globally under the UNI-SOLAR(R) brand, the company's products are ideally suited for cost-effective solar roofing solutions because they are lightweight, durable, flexible, can be integrated directly with building materials, and generate more energy in real-world conditions. ECD also pioneers other alternative technologies, including a new type of non- volatile digital memory that is significantly faster and less expensive, and is ideal for a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit www.ovonic.com.
First Call Analyst:
FCMN Contact: gkoefod@ovonic.com
Source: Energy Conversion Devices, Inc.
CONTACT: Media Relations, Mac McNeer, Sard Verbinnen & Co., +1-312-895-
4700, Investor Relations: Gerrard Lobo, The Ruth Group, +1-646-536-7006 Web site: http://www.ovonic.com/
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Profile: automotive-news
posted by automotive-news # 4:16 PM
Asbury Automotive Group Schedules Release of Fourth Quarter and 2007 Financial Results and Conference Call
Asbury Automotive Group Schedules Release of Fourth Quarter and 2007 Financial Results and Conference Call NEW YORK, Feb. 6 /PRNewswire-FirstCall/ -- Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., today announced that it will release its fourth quarter and 2007 financial results before the market opens on February 21, 2008. Senior management, including Charles R. Oglesby, President and CEO, and J. Gordon Smith, Senior Vice President and CFO, will host a conference call later that day, at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the Internet and can be accessed by logging onto www.asburyauto.com or www.ccbn.com. A replay will be available at these sites for 14 days. In addition, a live audio of the call will be accessible to the public by calling (877) 852-6573 (domestic), or (719) 325-4805 (international); no access code is necessary. Callers should dial in approximately 5-10 minutes before the call begins. A conference call replay will be available two hours following the call for seven days, and can be accessed by calling (888) 203-1112 (domestic), or (719) 457-0820 (international); access code 4911070. About Asbury Automotive Group Asbury Automotive Group, Inc. ("Asbury"), headquartered in New York City, is one of the largest automobile retailers in the U.S. Built through a combination of organic growth and a series of strategic acquisitions, Asbury currently operates 90 retail auto stores, encompassing 123 franchises for the sale and servicing of 35 different brands of American, European and Asian automobiles. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. Contact Information: Keith R. Style
V.P.-Finance and Investor Relations
(212) 885-2530
investor@asburyauto.com First Call Analyst:
FCMN Contact: robert.bralow@rfbinder.com
Source: Asbury Automotive Group, Inc.
CONTACT: Keith R. Style, V.P.-Finance and Investor Relations of Asbury
Automotive Group, Inc., +1-212-885-2530, investor@asburyauto.com Web site: http://www.asburyauto.com/
http://www.ccbn.com/
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Profile: automotive-news
posted by automotive-news # 4:13 PM
PROFNET EXPERT & DAILY TOPIC ALERTS: Government & Law
PROFNET EXPERT & DAILY TOPIC ALERTS: Government & Law
DAILY TOPIC ALERT
Regulating Global Warming from Autos (1 expert, continued) EXPERT ALERTS 1. Consumer Issues: New Freddie and Fannie Fees Compound Spending Woes
2. Law: Expansion of FMLA Puts Immediate Burden on Employer
3. Politics: 'Integrity' an Emerging Theme in Super Tuesday Results REGULATING GLOBAL WARMING FROM AUTOS ProfNet added the following item to a Topic Alert posted previously at http://media.prnewswire.com/en/jsp/latest.jsp?beat=BEAT_MEDIA&view=LATEST&reso urceid=3658441&packageid=1004072: 1. RICHARD PARLONTIERI, CEO of SPEEDEMISSIONS, a vehicle emissions testing and safety inspection company: "The California lawsuit against the EPA to tighten auto emissions standards is extremely important to our air, health and future, and should be supported vigorously. While some states have regulations, vast areas of our country have no auto or truck emissions testing. We need to follow California's lead and press the EPA for more stringent standards and also demand a standardized national, uniform program of regulations for testing vehicle emissions in every state. And, we should bring attention to the auto industry and special interest groups that are lobbying the EPA to keep the status quo. With all the concern about our environment, and the warming of our planet, you would think all states should be forced to have emission regulations, and those that already do would try to improve those standards." News Contact: John Goodman, johnlgood@aol.com Phone: +1-914-793-1277 or Cell: +1-914-841-6214 (2/4/08) EXPERT ALERTS 1. CONSUMER ISSUES: NEW FREDDIE AND FANNIE FEES COMPOUND SPENDING WOES. DAVID G. CHUNG is managing director of CREDITXPERT, the leading provider of credit optimization technology: "The new Fannie Mae and Freddie Mac adverse market delivery charges will be higher for applicants with credit scores below 680. Consumers with high credit card balances may have lowered their scores without realizing it. To protect themselves, consumers should check their scores and take action to improve their credit before applying for a mortgage." Chung can discuss how consumers can adopt better credit practices and use credit optimization technology to improve their finances in 2008. News Contact: Denise Bauwens, dbauwens@marcomexchange.com Phone +1-610-891-7560 (2/4/08) 2. LAW: EXPANSION OF FAMILY MEDICAL LEAVE ACT PUTS IMMEDIATE BURDEN ON EMPLOYER. TODD A. EWAN, Esq., partner in the labor and employment law practice group of MITTS MILAVEC, LLC: "On Monday, President Bush signed the first expansion of the Family Medical Leave Act to include employees caring for an injured service member. This expansion could prove difficult for employers to handle initially because it is effective immediately, as to the caregiver provision. Thus, if an employer has an employee who is caring for a spouse, son, daughter, parent or is the nearest blood relative of the injured service member, then the employer, as of now, has to provide that employee with up to 26 weeks of leave." News Contact: Rebecca Devine, rdevine@mavenagency.com Phone: +1-267-546-9009 (2/4/08) 3. POLITICS: 'INTEGRITY' AN EMERGING THEME IN SUPER TUESDAY RESULTS. DR. DAVID GRUDER, nonpartisan "integrity analyst" and seasoned psychologist and author/founder of INTEGRITYPLEDGE.ORG, sees a significant voting trend in yesterday's election: "I believe the 'integrity factor' is the common denominator between Obama and Huckabee and explains why both continued to gather momentum instead of fizzling out. In contrast to these two, Romney appears to not have this same degree of perception of integrity, and it's noteworthy that he did only slightly better nationwide than Huckabee, despite having a gigantic war chest compared to Huckabee's shoestring budget. McCain's strong showing would suggest the appeal of this same 'integrity factor.'" News Contact: (Ms.) Sam Jernigan, sam@marketingandpr.com Phone: +1-530-362-1339 (PST) (2/6/08) PROFNET is an exclusive service of PR Newswire. To submit query by e-mail: profnet@profnet.com To consult the ProfNet Experts Database: http://www.prnewswire.com/profnet To share a thought on the Expert and Daily Topic Alerts: profnetalerts@prnewswire.com PRNewswire -- Feb. 6
Source: ProfNet
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Profile: automotive-news
posted by automotive-news # 4:12 PM
First Advantage Corporation to Hold Fourth Quarter and Full Year 2007 Earnings Conference Call
First Advantage Corporation to Hold Fourth Quarter and Full Year 2007 Earnings Conference Call ST. PETERSBURG, Fla., Feb. 6 /PRNewswire-FirstCall/ -- First Advantage Corporation (NASDAQ:FADV), a global risk mitigation and business solutions provider, today announced that it will host a conference call on Wednesday, February 20, 2008, at 5:00 p.m. EST. The call, conducted by Anand Nallathambi, president and chief executive officer, and John Lamson, executive vice president and chief financial officer, will follow the announcement of the company's fourth quarter and full year 2007 operating results, which is scheduled for release on Wednesday, February 20, 2008, at 4:02 p.m. EST. The call, which is open to investors, members of the financial community and the media, can be accessed as follows: Via telephone:
Call toll free from within the United States by dialing 888.889.1652;
or, if calling from outside the United States, dial 210.795.9764. For
both numbers, provide the pass code Advantage when prompted. Via webcast:
Through your Internet browser, visit the Investor home page at
www.FADV.com. An audio replay of the conference call will be available through March 5, 2008, by dialing 800.294.9511 (inside the United States), or 203.369.3236 (outside the United States). An audio archive of the call and a copy of the fourth quarter and full year 2007 operating results release, including the financial information contained therein, will be available on the Investor home page of First Advantage's Web site, www.FADV.com. 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 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. First Advantage Contacts:
Henri Van Parys Cindy Williams
Corporate Communications Manager Investor Relations Manager
727.214.1072 727.214.3438
henri.vanparys@FADV.comclwilliams@FADV.com First Call Analyst:
FCMN Contact:
Source: First Advantage Corporation
CONTACT: Henri Van Parys, Corporate Communications Manager,
+1-727-214-1072, henri.vanparys@FADV.com, or Cindy Williams, Investor
Relations Manager, +1-727-214-3438, clwilliams@FADV.com, both of First
Advantage Web site: http://www.fadv.com/
http://www.firstam.com/
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Profile: automotive-news
posted by automotive-news # 4:08 PM
Hyundai i-Blue Fuel Cell Concept Makes North American Debut at Chicago Auto Show
Hyundai i-Blue Fuel Cell Concept Makes North American Debut at Chicago Auto Show Concept reveals third-generation fuel cell technology CHICAGO, Feb. 6 /PRNewswire/ -- Hyundai's new hydrogen-powered, zero-emission concept, the i-Blue Fuel Cell Electric Vehicle (FCEV), debuted in North America at the 100th edition of the Chicago Auto Show today. Developed at Hyundai's Design and Technical Center in Chiba, Japan, the i-Blue concept illustrates the design direction for a future FCEV production model. The all-new i-Blue platform features Hyundai's third-generation fuel cell technology, currently being developed at Hyundai's Eco-Technology Research Institute in Mabuk, Korea. The i-Blue demonstrates a significant step towards commercialization of Hyundai fuel cell vehicles. Unlike its predecessors which were built on production SUV platforms, the i-Blue features a new, purpose-built 2+2 crossover architecture. The i-Blue is powered by a 100 kW electric engine and fuel cell stack. Fueled with compressed hydrogen (700 bar) stored in a 115-liter tank, i-Blue is capable of running more than 370 miles per refueling and achieves a maximum speed of more than 100 miles per hour. The i-Blue's fuel cell stack is housed underfloor, not in the engine compartment as in the second-generation Tucson FCEV. This gives the car ideal 50:50 weight distribution for optimal driving and handling dynamics, as well as better air flow and cooling. Like other fuel cell vehicles, i-Blue's only emission is water vapor. The i-Blue FCEV has a dynamic and elegant exterior design, resembling TaeKuk, which is based on the philosophy of Ying and Yang, in which opposite forces are unified in perfect balance to create something new. The i-Blue's body was styled by unifying two distinct geometric forms -- the square and the circle -- thereby creating a rhombus-like shape. The character lines of the front and rear fender add chiseled detail to an otherwise rounded body sculpture. i-Blue employs the latest advancements in technology to ensure driving safety. Drivers of the i-Blue will be excited about the innovative, aircraft-like steering wheel that integrates touch-scroll control pads, enabling the driver to keep his hands on the wheel while operating the vehicle's audio-visual systems. The 3D vision heads-up display (HUD) also adds safety and convenience by providing essential information for the driver at eye level. The outside environment is constantly projected through the vehicle's full-surround camera system. Using the latest image processing techniques, the vehicle's monitoring system provides a virtual picture of the vehicle and its surroundings, including hidden obstacles the driver may not see. Many more future convenience features from Hyundai, such as side- and rear-view monitors, along with a liquid crystal display for gauges and multimedia controls are shown on the i-Blue concept vehicle as well. Hyundai Motor Company is at the forefront of advanced technology research. In September 2005, Hyundai celebrated the grand opening of its Eco-Technology Research Institute in Mabuk, Korea, which houses all R&D on environmentally friendly technologies, concentrating Hyundai's efforts to develop alternative powertrains in one state-of-the-art facility. In the United States, Hyundai has been a member of the California Fuel Cell Partnership (CaFCP) since 2000. Hyundai's first-generation Santa Fe and second-generation Tucson FCEVs have both been tested at the Partnership's facility in Sacramento, Calif. In 2004, Hyundai began a partnership with Chevron Corp. and UTC Power to initiate a 32-vehicle fleet testing program. This five-year cost-sharing program is sponsored by the United States Department of Energy. Hyundai is currently operating fleets at Hyundai America Technical Center in Chino, Calif.; California Air Resources Board in Sacramento, Calif.; AC Transit in Oakland, Calif.; Southern California Edison in Rosemead, Calif.; and the U.S. Army TACOM facility in Warren, Mich. Hyundai is working toward mass production of hydrogen-powered fuel cell vehicles in the next decade. Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 780 dealerships nationwide. First Call Analyst:
FCMN Contact:
Source: Hyundai Motor America
CONTACT: Miles Johnson, +1-714-965-3366, cell, +1-714-366-1048,
milesjohnson@hmausa.com, or Jim Trainor, +1-714-594-1629, cell,
+1-714-316-6421, jtrainor@hmausa.com, both of Hyundai Motor America Web site: http://www.hyundainews.com/
http://hyundaiusa.com/
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Profile: automotive-news
posted by automotive-news # 3:35 PM
Fuel-Efficent 2009 Hyundai Elantra Touring Arrives in United States
Fuel-Efficent 2009 Hyundai Elantra Touring Arrives in United States CHICAGO, Feb. 6 /PRNewswire/ -- Hyundai Motor America took the wraps off its Elantra Touring five-door compact at the 2008 Chicago Auto Show today. Making its United States debut, the all-new 2009 Elantra Touring is a sportier, more functional variant of Hyundai's popular Elantra sedan, and is slated to hit dealerships by the end of the year. Elantra Touring is based on the i30 CW model that was designed for the European market. "The all-new Elantra Touring is a fun-to-drive, functional five-door," said John Krafcik, vice president, product development and strategic planning, Hyundai Motor America. "Elantra Touring provides buyers a unique offering in the compact segment, raising the bar as Hyundai likes to do in value, safety and quality." The Elantra Touring, with its modern, sleek styling and fun-to-drive qualities, was developed by Hyundai in response to the growing demand for stylish and functional five-door vehicles, sales of which doubled from 2001 to 2006. Five-door vehicle sales are projected to be strong into the next decade. The Elantra Touring will also be the first five-door compact to offer standard Electronic Stability Control (ESC), in addition to a host of other class-leading safety technologies. As with all Hyundai vehicles, the Elantra Touring was designed and manufactured to meet the most stringent quality standards in the industry, exemplifying Hyundai's quality leadership position worldwide. Flowing curves and strong character lines highlight the broad stance and long wheelbase of the Elantra Touring. The clearly defined, unbroken, rising beltline unifies the vehicle's functional proportions. Up front, the pronounced dual air intakes flow smoothly into the hood and A-pillar lines. Sharp projection headlamps, fog lights and available 17-inch alloy wheels complete the modern design. The long wheelbase and generous width of the Elantra Touring, combined with Hyundai's expertise in interior packaging, have produced an interior that delivers class-leading comfort, functionality and practicality. Elantra Touring has the most interior volume (passenger volume plus cargo space) of any five-door in its class at 125.5 cubic feet. Elantra Touring's cargo capacity is 65.3 cubic feet with the rear seats folded down, more cargo space than many larger wagons and crossovers. The Elantra Touring's exterior dimensions (176.2 inches long, 69.5 inches wide and 59.8 inches high) contribute to outstanding front legroom and front and rear shoulder room. In addition, every Elantra Touring has 60/40 split folding rear seats. There is 24.3 cubic feet of luggage space with rear seats upright and 65.3 cubic feet with the rear seats folded flat. A stow-and-go removable luggage cover stores conveniently out of site under the trunk area compartment. An optional restraining net is also offered. The Elantra Touring was conceived from the beginning as a driver's car. Powered by the same fuel-efficient, 2.0-liter, in line four-cylinder found in the Elantra sedan, this sophisticated 16-valve powerplant employs Dual Overhead Camshafts (DOHC) and Continuously Variable Valve Timing (CVVT) for a very broad power band, coupled with high fuel efficiency and low emissions. Elantra Touring is certified as an Ultra Low Emission Vehicle (ULEV). An ergonomically located gear shift with a SHIFTRONIC(R) manual feature controls the Elantra Touring's four-speed automatic transmission, delivering confident mode selection and quicker, easier, more precise manual overrides. A unique-in-segment B&M Racing sport shifter delivers smooth, short-throw shift control for the standard five-speed manual transmission. A MacPherson strut front suspension and multi-link rear suspension have been fitted to perfectly complement the body structure's high rigidity. Ventilated 11.8-inch front and solid 10.3-inch rear discs with ABS and ESC provide excellent stopping power with added handling control. The Elantra Touring is the first compact five-door to offer XM Satellite Radio(R) and USB/iPod(R) auxiliary inputs as standard equipment. When an iPod or flash drive is connected through the USB port, it not only plays music through the vehicle's six-speaker, 172-watt audio system, but it also charges the iPod and allows the driver to access tracks with the steering wheel audio controls. Other standard interior features include a sunglass holder, two front and two rear cupholders, door bottle holders, dash storage, central console storage, front storage tray, front seatback pockets and a cargo area under-floor storage. In terms of passive safety, the Elantra Touring features dual front, side and curtain airbags, for a total of six protective airbags in the vehicle. The Elantra Touring also contains active front headrests, seatbelt pretensioners and seatbelt reminders. The Elantra Touring will also be the first five-door compact to offer standard ESC, in addition to a host of other class-leading safety technologies. Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 780 dealerships nationwide. Journalists are invited to visit our news media web site: http://www.hyundainews.com/ First Call Analyst:
FCMN Contact:
Source: Hyundai Motor America
CONTACT: Miles Johnson, +1-714-965-3366, cell, +1-714-336-1048,
milesjohnson@hmausa.com, or Jim Trainor, +1-714-594-1629, cell,
+1-714-316-6421, jtrainor@hmausa.com, both of Hyundai Motor America Web site: http://www.hyundainews.com/
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Profile: automotive-news
posted by automotive-news # 3:34 PM
2009 Hyundai Sonata's New Touch-Screen Display Enhances XM Radio Listening Experience
2009 Hyundai Sonata's New Touch-Screen Display Enhances XM Radio Listening Experience CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- XM, the nation's leading provider of satellite radio, announced today that 2009 Hyundai Sonata buyers will experience an enhanced XM radio listening experience through the vehicles available color, touch-screen navigation display. The Sonata's navigation display, unveiled today at the 2008 Chicago Auto Show, will make for a richer XM listening experience. (Logo: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO ) The brand-new display on the 2009 Hyundai Sonata allows listeners can use the high-resolution touch-screen display to easily scan through XM's more than 170 channels of entertainment. The display will feature sophisticated graphics, making it easy to glance at the XM channel name, song title, artist name, and category to select music, sports, talk, news, comedy or traffic and weather. "XM fans will truly appreciate the enhanced user experience through the Hyundai Sonata's new touch-screen display. Now, listening to XM Radio in the vehicle is richer and easier than ever before," said Joe Verbrugge, senior vice president, automotive partnerships and international operations, XM Satellite Radio. XM has been standard on all Sonata models since 2007. Every Hyundai equipped with XM Satellite Radio also comes with a three-month complimentary subscription. This is the first time a navigation system has been incorporated into the Sonata. The 2009 Hyundai Sonata will be on display throughout the 2008 Chicago Auto Show. About XM XM (NASDAQ:XMSR) is America's number one satellite radio. Broadcasting live daily from studios in Washington, DC, New York City, Chicago, Nashville, Toronto and Montreal, XM's 2008 lineup includes more than 170 digital channels of choice from coast to coast: commercial-free music, premier sports, news, talk radio, comedy, children's and entertainment programming; and the most advanced traffic and weather information. XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Ferrari, Subaru, Suzuki and Toyota, is available in 140 different vehicle models for 2008. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/. Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-1-07. Copies of the filing are available upon request from XM Radio's Investor Relations Department. Programming is subject to change. First Call Analyst:
FCMN Contact: david.butler@xmradio.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: XM
CONTACT: Marie Farrar of XM, +1-202-380-4151, marie.farrar@xmradio.com Web site: http://www.xmradio.com/
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Profile: automotive-news
posted by automotive-news # 3:34 PM
Hyundai Motor America Announces 2009 Sonata Pricing
Hyundai Motor America Announces 2009 Sonata Pricing CHICAGO, Feb. 6 /PRNewswire/ -- Hyundai Motor America announced pricing for the refreshed 2009 Sonata at the 2008 Chicago Auto Show today. The 2009 Sonata features an all-new interior, enhanced suspensions and revised powertrains boasting even more horsepower and improved fuel economy. The 2009 Sonata is now on sale at Hyundai dealerships. Model Engine Transmission MSRP with freight
Sonata GLS 2.4-liter I4 5-speed manual $18,795
Sonata GLS 2.4-liter I4 5-speed automatic $19,995
Sonata GLS 2.4-liter I4 PZEV 5-speed automatic $19,995
Sonata GLS 3.3-liter V6 5-speed automatic $22,245
Sonata SE 2.4-liter I4 5-speed manual $21,195
Sonata SE 3.3-liter V6 5-speed automatic $23,845
Sonata Limited 2.4-liter I4 5-speed automatic $24,645
Sonata Limited 2.4-liter I4 PZEV 5-speed automatic $24,645
Sonata Limited 3.3-liter V6 5-speed automatic $26,345
"You'd expect that all of these changes and new content would lead to startling new price points for the Sonata," said John Krafcik, vice president, Product Development and Strategic Planning, Hyundai Motor America. "But that's not Hyundai's business model. With a starting price of just $18,795, including delivery, the 2009 Sonata is very well equipped to compete with the best mid-size sedans on quality, craftsmanship, capability ... and of course, value."
The Sonata combines refined design, proven dependability, spirited performance and an extensive list of standard features to increase its appeal to a broader range of customers. For 2009, Sonata raises the bar for value and standard safety technology in the mid-size segment. Hyundai's sales leader boasts new features ranging from standard USB/iPod auxiliary inputs to available navigation and sport-tuned suspension. Combined with Sonata's continued leadership in safety -- it remains the only mid-size sedan under $20,000 with standard Electronic Stability Control (ESC) -- the 2009 American-made Sonata is the smartest choice in the competitive mid-size sedan segment. The new, second-generation Theta II 2.4-liter DOHC inline four-cylinder engine delivers more horsepower and quicker acceleration. Fuel economy numbers are 22 mpg city/32 mpg highway with the standard five-speed manual transmission or the newly available five-speed automatic transmission with SHIFTRONIC(R). The Theta II is rated at 175 horsepower and 168 lb.-ft. of torque. This high-tech, all-aluminum, 16-valve engine now features Continuously Variable Valve Timing (CVVT) on both camshafts and a Variable Induction System (VIS) for better engine breathing. Sonata's 3.3-liter V6 engine now pumps out 15 more horsepower and three more pound-feet of torque (249 horsepower @ 6,000 rpm and 229 lb.-ft. of torque at 4,500 rpm). This newly refined powerplant features all-aluminum construction, dual overhead camshafts, four valves per cylinder, CVVT on both camshafts and stiffer hydraulic engine mounts for optimum power, efficiency and refinement. A variable intake system is added for 2009, which further broadens its power curve, improving off-the-line acceleration and passing performance. New mileage figures for V6-powered Sonatas are 19 mpg city/29 mpg highway. All V6-powered Sonatas use Hyundai's five-speed SHIFTRONIC automatic transmission, which features an overdrive lock-up torque converter for improved highway fuel economy. The automatic transmission has a new reducing valve and solenoid valve for smoother shift quality while the manual transmission has been refined for more precise shifts. The pleasant surprises continue inside where Hyundai designers have thoroughly revamped the cockpit to create the ambiance of an upscale, premium sedan. The sophisticated look is achieved thanks to a completely new center console and instrument panel, which borrows design cues and rich materials from the premium Hyundai Veracruz. The Sonata continues to be classified by the Environmental Protection Agency as a Large Car, truly a "class above" Camry, Altima, Fusion and Malibu (all are categorized as mid-size cars). Music lovers will welcome the 2009 Sonata's inclusion of standard auxiliary input jacks (3.5 mm mini-jack and USB input) to accommodate and charge audio devices such as iPods(R). Other refinements include dual-zone climate controls for the driver and front-seat passenger and two-stage front seat warmers. A new factory-installed touch screen navigation system is now available as well. The design team added a more refined touch to Sonata's exterior design, with new bumpers, lamps, wheels and grille creating a more elegant, dynamic and taut stance. The unibody design crafted of high-tensile steel features a concave hood design, distinctive rear-door cut lines, strong Z-lined body-to-bumper interfaces and four-barrel jeweled projector lens headlights. New chrome bodyside and bumper moldings match the chrome grille and chrome-accented exterior door handles on Limited models. On the safety side, 2009 Sonata's front collision performance has been improved by tweaking the design of the engine subframe. Every Sonata also has lifesaving ESC as standard equipment along with six standard airbags. The braking technology package includes four-wheel disc brakes and an Anti-Lock Braking System (ABS) that includes Brake Assist and Electronic Brake-force Distribution (EBD). Hyundai Motor America, headquartered in Fountain Valley, Calif. is a subsidiary of Hyundai Motor Company of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 780 Hyundai dealerships nationwide. Journalists are invited to visit our news media website: http://www.hyundainews.com/.
First Call Analyst:
FCMN Contact:
Source: Hyundai Motor America
CONTACT: Miles Johnson, +1-714-965-3366, cell, +1-714-366-1048,
milesjohnson@hmausa.com, or Jim Trainor, +1-714-594-1629, cell,
+1-714-316-6421, jtrainor@hmausa.com, both of Hyundai Motor America Web site: http://www.hyundainews.com/
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Profile: automotive-news
posted by automotive-news # 3:33 PM
Infinity Property and Casualty Corporation to Present at the Merrill Lynch Insurance Investor Conference
Infinity Property and Casualty Corporation to Present at the Merrill Lynch Insurance Investor Conference BIRMINGHAM, Ala., Feb. 6 /PRNewswire-FirstCall/ -- Infinity Property and Casualty Corporation (NASDAQ:IPCC), today announced Mr. James R. Gober, Chairman, President and CEO will speak at the Merrill Lynch Insurance Investor Conference in New York on Tuesday, February 12, 2008 at 2:50 p.m. (ET). A live webcast will be available at http://ir.ipacc.com/ . A replay of the webcast will be available until Tuesday, February 26, 2008. Infinity Property and Casualty Corporation 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: amy.jordan@ipacc.com
Source: Infinity Property and Casualty Corporation
CONTACT: Amy Jordan, AVP, Investor Relations of Infinity Property and
Casualty Corporation, +1-205-803-8186 Web site: http://www.ipacc.com/
http://ir.ipacc.com/
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Profile: automotive-news
posted by automotive-news # 2:17 PM
Photos: Suzuki Debuts All-New Equator Midsize Pickup Truck at 2008 Chicago Auto Show
Photos: Suzuki Debuts All-New Equator Midsize Pickup Truck at 2008 Chicago Auto Show - 2009 Suzuki Equator makes global debut in Windy City - Striking activity-oriented Equator concept trucks communicate 'Way of Life' brand spirit - New pickup adds automotive offering for cross-divisional Suzuki product aficionados CHICAGO, Feb. 6 /PRNewswire/ -- To bolster its versatile and dynamic product line, enhance the company's bold and adventurous brand identity and further expand the growing line of products marketed by approximately 500 Suzuki dealers nationwide, American Suzuki Motor Corp. debuts its all-new 2009 Equator midsize pickup truck at this year's Chicago Auto Show. The introduction of the Equator marks Suzuki's first entry into the midsize pickup truck market and expands the company's offering of activity-oriented cars and trucks. (Logo: http://www.newscom.com/cgi-bin/prnh/20060829/LATU016LOGO-c) To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/suzuki/31731/ Leveraging Suzuki's credibility as a maker of lifestyle-oriented, fun-to-use products, the Equator offers the perfect blend of style, utility and off-road capability that truck buyers -- many of whom are current Suzuki motorcycle, ATV and marine product owners, loyalists and ambassadors -- demand and enjoy. Developed as a joint effort with Nissan North America, Inc., and based on the Nissan Frontier, the 2009 Equator will be available in both Extended Cab and Crew Cab body styles and rear-wheel and four-wheel-drive configurations. The all-new 2009 Suzuki Equator pickup truck is scheduled to go on sale in the United States in the fourth quarter of 2008. Pricing has not yet been announced. "Since Suzuki has continued to strengthen its brand equity among outdoor enthusiasts, we thought now was the right time to produce a vehicle that meets the additional needs many of these people have," said Mark Harano, president American Suzuki Automotive Operations. "Truck buyers are a particularly good fit for Suzuki since they're likely to participate in motorcycle riding, power boating and other lifestyle-oriented activities that fit with our brand identity and our product portfolio. The Equator provides Suzuki with an opportunity to build an authentic connection with a group of consumers who are familiar with our brand and, in many circumstances, own other Suzuki products." To introduce the Equator, Suzuki is unveiling three separate representations of the truck during its Chicago Auto Show press conference. The three concepts, coined the RMZ-4 for off-road enthusiasts, Quad for outdoor adventurers and Quay for boating and watersports aficionados, showcase Suzuki's diverse brand spirit, while illustrating the capability and flexibility of the all-new Suzuki Equator. In addition to Chicago's global reveal of the all-new Equator, Suzuki will showcase the SXForce, a sportbike-inspired concept reinforcing the link between the company's rich motorcycle heritage and versatile line of fun-to-drive automobiles, as well as a range of outdoor and performance-oriented motorcycles and ATVs, including the KingQuad 450, LT-R450 QuadRacer and all-new Hayabusa sportbike, to name a few. 2009 Suzuki Equator Performance and Functionality
Built at Nissan's manufacturing facility in Smyrna, Tenn., the 2009 Equator features a fuel efficient 2.5-liter DOHC inline four with 152 horsepower and 171 lb.-ft. of torque or an optional 4.0-liter, V6 DOHC engine producing a class-leading 261 hp with 281 lb.-ft. of torque. Designed for outstanding performance and durability, the Equator's V6 engine incorporates an aluminum block with cast iron cylinder liners, forged steel crankshaft, microfinished crankshaft and camshafts, Teflon(R)-coated pistons, variable valve timing and a silent two-stage timing chain.
The Equator is matched to either a five-speed electronically controlled automatic transmission (I4 and V6) or five-speed manual transmission (I4), and offers an available shift-on-the-fly four-wheel-drive system with an electronically controlled part-time two-speed transfer case. For enhanced off-road capability, the rugged Equator offers a comprehensive off-road traction system, including four-wheel limited slip, electronic locking rear differential, Vehicle Dynamic Control (VDC), hill descent control and hill start assist. The Equator's strong, fully boxed frame anchors a long 125.9-inch wheelbase (Extended Cab or Crew Cab/regular bed), enhancing driver and passenger comfort and stability, while its overall length of 205.5 inches (Extended Cab or Crew Cab/regular bed) provides the perfect balance of utility, maneuverability and composure for a midsize pickup truck. The 2009 Equator features an all-steel double-wishbone front suspension and solid axle rear suspension with overslung leaf springs and a long suspension stroke for optimized off-road dynamics. Maximum towing capacity is rated at 6,500 pounds. EPA fuel economy estimates are still preliminary. Other Equator powertrain components include engine-speed-sensitive power-assisted rack-and-pinion steering for responsiveness and good on-center feel and standard four-wheel disc brakes with Anti-lock Braking System (ABS) and Electronic Brake Force Distribution (EBD). Equator also features a variety of available wheel and tire packages, including 16-inch off-road style wheels with rugged 265/75R16 tires and 17-inch wheels with 265/65R17 tires. Styling and Utility The all-new Equator features a contemporary exterior design with a number of unique Suzuki elements, including hood, front fenders, grille, bumpers, front fascia and tailgate. Both Equator Extended Cab and Crew Cab models offer an available high-utility bed that includes a factory-applied spray-on bedliner and an extensive tie-down system with adjustable tracks, providing ultimate cargo hauling flexibility through the use of five special "C" cross-section rails mounted in the bed (two channels in the bed floor and one each on the bed side rails and the bed header panel). Removable utility cleats slide into the channels, providing a wide range of attachment points for securing cargo -- including Suzuki motorcycles or ATVs. Suzuki also will offer specialized bed accessories that make loading, securing and transporting a motorcycle or ATV easier than in many competitive trucks. To further satisfy the needs of active lifestyles, Suzuki will offer its customers a full range of more traditional accessories for use with the channel system, including bed dividers, sliding cargo trays and modular storage units. Crew Cab models will offer an available roof rack. Interior The Suzuki Equator offers the driver and up to four passengers a functional interior that combines versatility, cargo utility, comfort and convenience. Both Extended Cab and Crew Cab body styles feature flip-up rear seats, a fold-flat front passenger seat and removable storage boxes tucked beneath the rear seats to provide additional cargo capacity. The Equator offers additional convenience features such as a dual glove box with lock, damper and lamp, center console storage and one-liter bottle storage integrated into the front doors. A host of cupholders and power points are standard throughout the truck. Equator Crew Cab also will offer available leather-appointed seats, including a power-adjustable driver's seat, heated seats, heated mirrors and a factory-installed moonroof. Additional available interior amenities include a Bluetooth- hands-free phone system, Rockford Fosgate-powered audio system with six-disc in-dash CD audio system, optional satellite radio and MP3 capability and MP3 player aux-in jack. Safety and Packages The all-new Equator includes a comprehensive list of standard safety equipment, including zone body construction with front and rear crumple zones, dual-stage front supplemental air bags with seat belt sensors and a front occupant classification sensor, three-point front seat belts with pretensioners and load limiters and Tire Pressure Monitoring System. To make the safety story even stronger, the Equator comes equipped with supplemental front seat side-impact air bags and supplemental curtain air bags for side impact and rollover protection for front and rear outboard passengers. Additionally, Extended Cab and Crew Cab models provide three-point seat belts for all rear seat occupants, including the center position for the Crew Cab. The LATCH (Lower Anchors and Tethers for CHildren) child seat anchor system is provided in the rear seat of the Crew Cab model. Equator RMZ-4, Quay and Quad Concept Vehicles Designed to match Suzuki's performance-oriented motocross motorcycles, the RMZ-4 concept offers rugged off-road performance in a Crew Cab. This Equator-based concept, built by the Carlab of Orange, Calif., features a number of exterior modifications, including a bed extender provided by Amp Research, an eye-catching graphic treatment, 18-inch black chrome wheels and specialty Luzlab headlights. The truck's striking exterior is matched by an equally stunning sound system that includes an Alpine HD-Radio unit connected to Rockford Fosgate amp and speaker components. Another Carlab creation to debut in Chicago, the Quay concept is built to suit recreational boating and watersports lifestyles, with a customized paint job that reflects the look of Suzuki's line of marine engines. With an Extended Cab, long bed and hefty towing capabilities, the truck also is equipped with a state-of-the-art Visteon nav-control head unit that provides satellite radio, MP3 and navigation capabilities, in addition to Rockford Fosgate amp and speaker components. The Quay also sports special 20-inch wheels and a matching locking hard tonneau cover. Built to resemble the Suzuki QuadRunner ATV, and to accommodate a recreational outdoor lifestyle, the Quad concept was developed by Torrance, Calif.-based Andry Specialty Vehicles and comes outfitted with a Crew Cab and military "look and feel." In addition to a custom paint job and a two-and-a-half inch front end lift, the exterior of the truck has been modified with a set of 500 series fog lamps, a safari-style front bumper, front skid plate and tubular rocker guards. To enhance the vehicle's overall appearance and performance, the Quad is equipped with Yokohama Geolander tires that ride on 17-inch custom aluminum wheels and features Rockford Fosgate amp and speaker components. 2008 Suzuki Auto Product Line Suzuki's full line of 2008 vehicles include the stylish four-door SX4 Sport, bold and functional five-door SX4 Crossover, versatile XL7 midsize SUV, rugged Grand Vitara compact SUV, the Forenza sedan and Forenza Wagon, and the Reno. Every vehicle in the line provides Suzuki's standout virtues of toughness, leading-edge style and high-end features at very competitive prices. All 2008 Suzuki automobiles are backed by America's #1 Warranty: a 100,000-mile/seven-year, fully transferable, zero-deductible powertrain limited warranty. About Suzuki The Brea, Calif.-based Automotive Operations of American Suzuki Motor Corporation was founded in 1985 by parent company Suzuki Motor Corporation (SMC) and currently markets its vehicles in the United States through a network of approximately 500 automotive dealerships in 49 states. Based in Hamamatsu, Japan, SMC is a diversified worldwide automobile, motorcycle and outboard motor manufacturer with sales of more than two million new automobiles annually. Founded in 1909 and incorporated in 1920, SMC has operations in 187 countries. For more information, visit http://www.media.suzukiauto.com/.
First Call Analyst:
FCMN Contact:
Photo: http://www.newscom.com/cgi-bin/prnh/20060829/LATU016LOGO-c
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: American Suzuki Motor Corporation
CONTACT: David Boldt of American Suzuki, +1-714-996-7040, ext. 2464,
autopr@suz.com; or Andrew Nicolai of PainePR, +1-949-809-6786,
anicolai@Painepr.com for American Suzuki Web site: http://www.suzuki.com/
http://www.media.suzukiauto.com/
http://www.prnewswire.com/mnr/suzuki/31731
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Profile: automotive-news
posted by automotive-news # 1:35 PM
MultiVu Video Feed: World Premier of the 2008 Dodge Challenger SRT8 at the Chicago Auto Show
MultiVu Video Feed: World Premier of the 2008 Dodge Challenger SRT8 at the Chicago Auto Show
SATELLITE FEEDS:
Wednesday, February 6th, 2008
3:30 PM - 3:45 PM ET
Galaxy 26
Transponder 7
C-Band
Downlink Freq: 3840 Vertical Wednesday, February 6th, 2008
6:30 PM - 6:45 PM ET
Galaxy 26
Transponder 7
C-Band
Downlink Freq: 3840 Vertical Thursday, February 7th, 2008
3:00 AM - 3:15 AM ET
Galaxy 26
Transponder 7
C-Band
Downlink Freq: 3840 Vertical NEWS: HIGHLY ANTICIPATED MUSCLE CAR FROM DODGE MAKES ITS
WORLD DEBUT AT CHICAGO AUTO SHOW FORMAT: Soundbites and B-roll STORY SUMMARY:
The return of a true "Pony Car" - after a 34 year absence, the historic
Dodge Challenger is re-born for the 21st century. The 2008 Dodge
Challenger SRT8 makes its world debut on February 6th at the Chicago Auto
Show. Originally built in 1970, the Challenger was a high performance, high
power head turner that earned its place in the automotive history books.
The 2008 version is the fourth and final installation of the LX-platform
that birthed the 300C, Magnum, and Charger. Power comes from the same 6.1
liter Hemi V8 found across the SRT range. That means 425 hp and 420 lb-ft
of torque shuttled through a six-speed automatic transmission. Overall, exterior design cues remain faithful to the concept car
originally unveiled at the 2006 Detroit Auto Show and draw on the rich
heritage of the original Challenger but feature contemporary styles and
new technology. SOUNDBITES:
-- Kipp Owen, Director of Street Racing Technology, Chrysler LLC B-ROLL INCLUDES: ***running footage of the new Dodge Challenger*** VIDEO PROVIDED BY: Chrysler LLC FOR TECHNICAL INFORMATION OR HARD COPY, PLEASE CALL:
MultiVu Media Relations, 800-653-5313 EXT. 3
PRNewswire -- Feb. 6
First Call Analyst:
FCMN Contact:
Source: Chrysler LLC
Web site: http://www.multivu.com/
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Profile: automotive-news
posted by automotive-news # 1:34 PM
The Ultimate Modern American Muscle Coupe
The Ultimate Modern American Muscle Coupe All-New 2008 Dodge Challenger SRT8(R) - Iconic Dodge muscle car returns after a 35-year absence - Design stays true to Challenger heritage while delivering a host of modern amenities and "race inspired, street legal" SRT DNA - Powered by a 6.1-liter HEMI(R) V-8 engine that produces 425 horsepower and 420 lb.-ft. of torque - Each 2008 Dodge Challenger SRT8 features limited-edition, numbered dash plaque CHICAGO, Feb. 6 /PRNewswire/ -- The return of the iconic Dodge Challenger brings what pony car fanatics crave: ground shaking performance, unmistakable design cues reminiscent of the original Challenger, world-class ride and handling characteristics and benchmark braking. On top of that it features a wide variety of modern amenities and technology designed to delight a new generation of driving enthusiasts. "The all-new Dodge Challenger SRT8 is engineered to give customers everything they want in a modern muscle machine," said Mike Accavitti, Director -- Dodge Brand and SRT Global Marketing, Chrysler LLC. "The new version of Dodge's American classic boasts tire-smoking performance and head- turning design while offering a wide array of state-of-the-art technology, such as GPS navigation, 'Keyless Go' entry, a MyGIG(TM) infotainment system and UConnect hands-free communication." Developed by Chrysler's in-house performance engineering organization, the 2008 Dodge Challenger SRT8 was engineered with a focus on the five pillars of every SRT vehicle: bold exterior design that resonates with the brand image, a race-inspired interior, world-class ride and handling across a dynamic range, a standout powertrain and benchmark braking. Dodge will offer the limited-edition 2008 Dodge Challenger SRT8 in three colors: HEMI(R) Orange, Bright Silver Metallic and Brilliant Black Crystal Pearl Coat. Each two-door, rear-wheel-drive coupe will be produced with a numbered dash plaque, carbon fiberlike hood stripes and will be powered by SRT's 6.1-liter HEMI V-8 engine that boasts 425 horsepower and 420 lb.-ft. of torque. With a U.S. Manufacturer's Suggested Retail Price (MSRP) of $37,995 (including $675 destination), the all-new 2008 Dodge Challenger SRT8 arrives in Dodge showrooms this spring. The 2008 Dodge Challenger SRT8 vehicles will be manufactured at Chrysler's Brampton, Ontario, Canada assembly plant. Performance targets for the all-new 2008 Dodge Challenger SRT8 include a 0-60 mph time in the low 5-second range, 0-100-0 mph in less than 17 seconds, a 1/4-mile elapsed time of less than 14 seconds, 60-0 mph braking distance of approximately 100 feet, and a skid pad performance of 0.88 g. First Call Analyst:
FCMN Contact:
Source: Chrysler LLC
CONTACT: Kathy Graham, +1-248-512-2942 (office), +1-248-705-1502 (cell),
kad@chrysler.com, or Todd Goyer, +1-248-512-0041 (office),
+1-248-761-0805 (cell), trg32@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://www.media.chrysler.com.
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Profile: automotive-news
posted by automotive-news # 1:05 PM
Archetype Joint LLC Hires Loerch as Executive Vice President
Archetype Joint LLC Hires Loerch as Executive Vice President ORION, Mich., Feb. 6 /PRNewswire/ -- Archetype Joint LLC announced today it has hired Nancy A. Loerch as executive vice president, according to president David D. Archer. Loerch will be responsible for developing the company's business opportunities in the automotive, defense, aerospace, truck and heavy equipment industries. "Nancy's expertise and first-hand experience in developing an organization from the ground up will be a critical factor in Archetype Joint's success in its quickly expanding presence in the joint design, testing and validation arena," said Archer. Prior to joining Archetype Joint, Loerch worked at Munro & Associates, a Lean Design(R) engineering firm, with companies such as Boeing, Raytheon Missile Systems, General Motors, Ford and Chrysler. During her 20 years with Munro, she held positions of increasing responsibility as she helped the company develop and grow, ultimately serving as executive vice president. Before joining Munro & Associates, Loerch was employed by the Society of Manufacturing Engineers (SME). She holds a Bachelor of Applied Science degree from Central Michigan University and is a past president of the Marketing and Sales Executives of Detroit (MSED). Archetype Joint LLC, based in Orion, Mich., offers manufacturers a full range of independent, specialized testing and consulting services related to joint design, testing and validation. It is the first company of its kind to receive accreditation by the American Association for Laboratory Accreditation (A2LA) for meeting ISO/IEC 17025, the international quality standard for laboratories. The company was founded in 2005 by David D. Archer, a 25-year design and manufacturing engineering and Design for Assembly (DFA) expert. Its mission is to help manufacturers reduced the estimated 70 percent of warranty costs and 20 percent of product recalls that are related to fasteners and joint design. For more information on Archetype Joint -- which is located at 140 Engelwood Drive, Suite D, Orion, Mich., 48359 -- visit the company's website at www.archetypejoint.com or call 248-377-1147. First Call Analyst:
FCMN Contact:
Source: Archetype Joint LLC
CONTACT: Dave Archer of Archetype Joint LLC, +1-248-377-1147; Jim
Bianchi of Bianchi PR, +1-248-269-1122, for Archetype Joint LLC Web site: http://www.archetypejoint.com/ NOTE TO EDITORS: For an electronic image of Loerch, please contact Jim Bianchi at jbianchi@bianchipr.com. Loerch is a native of, and currently resides in, Lake Orion, Mich. -------
Profile: automotive-news
posted by automotive-news # 1:00 PM
ITW Announces Plans to Webcast February 12 Presentation for Lehman Brothers Industrial Select Conference
ITW Announces Plans to Webcast February 12 Presentation for Lehman Brothers Industrial Select Conference GLENVIEW, Ill., Feb. 6 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. (NYSE:ITW) today announced plans to webcast its presentation at the 25th Annual Lehman Brothers Industrial Select Conference in Miami Beach. The presentation will take place Tuesday, February 12 from 8:50 am to 9:35 am ET. The URL for the presentation is: http://cc.talkpoint.com/LEHM002/021108a_jw/default.asp?entity=IllinoisTool The presentation will be delivered by David Speer, Chairman and Chief Executive Officer. With $16.2 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people. First Call Analyst:
FCMN Contact:
Source: Illinois Tool Works Inc.
CONTACT: Karen Biesiada of Illinois Tool Works Inc., +1-847-657-4062,
kbiesiada@itw.com Web site: http://www.itw.com/
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Profile: automotive-news
Gramercy Insurance Company Launches Trucking Liability Program
Gramercy Insurance Company Launches Trucking Liability Program ATLANTA and DALLAS, Feb. 6 /PRNewswire/ -- Gramercy Insurance Company (GIC), a leading global property and casualty insurer, today announced the expansion of its Commercial Auto division with the addition of truck liability insurance. GIC now provides a single source solution for those customers seeking physical damage, cargo and liability coverage. GIC has named a select group of agents to its Founders' Circle and launched the program in a ceremony with the founders Circle agents in Dallas. Adding this program keeps GIC aligned with its strategic vision to offer a full commercial auto suite of risk solutions to a niche market. "We believe there is a need for this type of program so that the small to medium transportation companies are able to compete with the confidence they are adequately insured," states Antonio Barner, Gramercy's vice president of operations. "We have spent a lot of time researching and qualifying agents with niche expertise in the trucking industry. We have aligned our Founders' Circle with qualifying producers who are committed to serving an underserved market and most importantly, experts and specialists in the trucking industry," Mike Darrah, GIC's transportation manager says. AmWINS Transportation, formerly Seaboard Underwriters, acts as the program's managing general agency for underwriting and policy issuance within guidelines developed and controlled by Gramercy. National Transportation Adjusters, Inc (NTA) serves as the third party claims administrator. NTA is recognized as one of the country's leading TPAs serving the trucking industry. The whole program is reinsured by GMAC RE, a long time partner of GIC. Keith Dunlap, president of NTA, Inc. says, "On behalf of the staff at NTA, Inc., we are exceptionally proud and excited to be chosen to represent the interests of Gramercy Insurance Company and their transportation clientele. The insurance program that Gramercy has produced is truly outstanding and the selected agencies allowed to participate in the program will no doubt come to embrace it as a unique and innovative approach to the underwriting of the motor carrier risk. As Gramercy's claims partner, NTA, Inc. looks forward to playing a key role in the growth and success of this new transportation program." "We at AmWINS Transportation Underwriters, Inc. are proud and excited to be chosen to administer the Gramercy Auto Liability Program. We have had the opportunity to meet and spend time with the Gramercy Founders Circle agents and are impressed with their knowledge and professionalism and are looking forward to developing a solid book of profitable business with them," says Joe Hutelmyer, president of AmWINS. GIC's trucking liability program is ideal for small to medium trucking companies with units from one to 100. GIC's primary focus is long haul trucking operations with an unlimited radius (in excess of 200 - 300 miles) using dry and refrigerated vans, flat bed, non-hazardous bulk tankers and containerized freight. About AmWINS Trasportation AmWINS Transportation, Inc., with offices in Burlington, North Carolina, Zionsville, Indiana and San Diego, California, is a wholly owned subsidiary of AmWINS Group, Inc., a wholesale distributor of specialty insurance products dedicated to serving retail agents throughout the United States by providing property and casualty, group life and health, and program administration services. The company, celebrating it's 51st year as a trucking specialist MGA/MGU has administered trucking programs for many insurance carriers dating back to 1957 with a staff of underwriting specialist averaging better than 20+ years experience. Based in Charlotte, NC, the company operates through more than 35 offices across the United States and handles premium placements in excess of $3.3 billion dollars annually. Visit www.amwins.com. About National Transportation Adjusters (NTA) For over the last 20 plus years, NTA professionals have been employed at insurance companies, managing general agencies, law firms, third party administrators and insurance adjusting firms. They have been owners, officers and co-founders of corporations. These individuals recognized a need for a transportation specific third party claims administrator dedicated to putting the client and their insureds first. The key staff of NTA, Inc., formerly National Transportation Adjusters, Inc., has been meeting this need since 1991. For more information, visit www.nta-inc.com. About GMAC RE GMAC RE is the managing agent writing on behalf of Motors Insurance Corporation (MIC), the leading company within GMACI Group. All MIC's treaty and facultative reinsurance is underwritten by GMAC RE, which acts as the sole reinsurance specialist in the GMACI Group. Treaty and facultative business is produced both through brokers and on a direct basis. GMAC Insurance (GMACI) is a business unit that is 100% owned by GMAC LLC. GMACI is comprised of Motors Insurance Corporation (MIC), the lead insurance company, and its 15 wholly owned domestic property/casualty companies. About Gramercy Insurance Company Founded in 1979, Gramercy Insurance operates from dual offices in Dallas, Texas and Norcross, Georgia. GIC underwrites Truck Liability, Truck Physical Damage, Motor Cargo, Contractors Equipment, and Builder's Risk across the southern US, and beyond. Gramercy also insures and reinsures Contractual Liability Policies for Extended Service Contracts and is rated B+ by A.M. Best. For more information, go to www.gic.com. Contact:
Katie Bush
For Gramercy Insurance Company
D: 404.812.0369
M: 404.386.5330
katie@katiebush.com First Call Analyst:
FCMN Contact:
Source: Gramercy Insurance Company
CONTACT: Katie Bush for Gramercy Insurance Company, +1-404-812-0369,
+1-404-386-5330 (cell), katie@katiebush.com Web site: http://www.gic.com/
http://www.nta-inc.com/
http://www.amwins.com/
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Profile: automotive-news
2009 Nissan GT-R Supercar Pre-Orders Now Being Taken at 691 'GT-R Certified' Dealers Nationwide
2009 Nissan GT-R Supercar Pre-Orders Now Being Taken at 691 'GT-R Certified' Dealers Nationwide CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- Nissan (NASDAQ:NSANY) today announced that the all-new Nissan GT-R supercar is now available for pre- ordering at 691 officially certified Nissan dealers across the United States. The 2009 Nissan GT-R, equipped with a 480-horsepower, twin-turbo 3.8-liter V6 engine and advanced 6-speed dual clutch automatic transmission, has a Manufacturer's Suggested Retail Price (MSRP) of $69,850 for the GT-R and $71,900 for the GT-R Premium model (exclusive if Destination & Handling). Customer deliveries of the new GT-R are scheduled to begin in June 2008. (Photo: http://www.newscom.com/cgi-bin/prnh/20080206/CLW085 ) Nissan dealers have attained "GT-R Certification" status by meeting a number of strict sales, service and facilities commitments, including dedicating a master technician to GT-R service, special training for service managers and technicians, and designating dealer principals, executive managers and general managers as the primary communicators/negotiators in sales transactions. A listing of GT-R Certified Nissan dealers is available to consumers on nissanusa.com. "A supercar as special as the new Nissan GT-R -- and its owners -- requires a truly exceptional level of care and handling," said Al Castignetti, vice president and general manager, Nissan Division, Nissan North America, Inc. "These Certified GT-R dealers are making a substantial investment in their showrooms, service tools and technician training -- helping ensure that the purchase and ownership of the new GT-R will be an exciting experience for our customers, every step of the way." About the 2009 Nissan GT-R The all-new 2009 Nissan GT-R, the fifth-generation of the legendary Nissan supercar, is a multi-dimensional performance machine that lives up to the concept of "the ultimate supercar that can be driven by anyone, anytime, anywhere." It features an all-new 3.8-liter twin turbo V6 producing 480 horsepower and 430 lb-ft of torque (estimated), backed by an all-new, paddle-shifted, GR6-type dual clutch rear transaxle. The new Nissan GT-R is built on an exclusive, all-new Premium Midship platform. This new platform enables the use of a world's first independent rear transaxle ATTESA E-TS all-wheel drive system, which places the transmission, transfer case and final drive at the rear of the vehicle, optimizing weight distribution and maximizing handling capability. The Nissan GT-R's functional styling utilizes advanced aerodynamics, evoking the lines of a well-trained athlete. GT-R's hybrid body construction combines steel, carbon fiber and die-cast aluminum, and features a low coefficient of drag of 0.27, while achieving high front and rear downforce. GT-R's four-passenger cabin features a sloping "aero blade canopy" roofline and curved C-pillar "sword edge," as well as GT-R's hallmark four-ring taillights, functional rear carbon fiber underbody diffuser, rear spoiler and large, integrated quad exhaust tips. GT-R's interior balances functionality with a sense of ease and comfort. It features sculpted performance bucket seats for an optimal driving position, a cockpit-style instrument panel with a large center-mounted tachometer and multi-function display - which includes mechanical and driving information, as well as an on-board driving recorder. Customers can learn more about the 2009 Nissan GT-R through gtrnissan.com. First Call Analyst:
FCMN Contact: Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080206/CLW085
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Nissan North America, Inc.
CONTACT: Darryll Harrison Jr., Nissan Product Public Relations,
+1-615-725-5644, or John Schilling, Nissan Product Public Relations,
+1-615-725-5264 Web site: http://www.gtrnissan.com/
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Profile: automotive-news
All-New 2009 Traverse is First Chevrolet Vehicle To Offer Award-Winning XM NavTraffic Service
All-New 2009 Traverse is First Chevrolet Vehicle To Offer Award-Winning XM NavTraffic Service XM's real-time traffic navigation service is unveiled as 2009 Traverse feature at the 2008 Chicago Auto Show CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- XM (NASDAQ:XMSR) announced that the all-new 2009 Chevrolet Traverse, unveiled today at the 2008 Chicago Auto Show, will be the first Chevrolet vehicle to offer XM NavTraffic as a factory- installed feature. XM NavTraffic, XM's real-time traffic information service, will be available on Traverse vehicles equipped with navigation. (Logo: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO ) XM Radio, which offers more than 170 channels of commercial-free music, sports, talk, news and entertainment, will be standard on the 2009 Traverse. "XM is pleased with Chevy's commitment to providing the best in entertainment and technology by making XM NavTraffic and XM Radio available on the 2009 Traverse," said Joe Verbrugge, senior vice president, automotive partnerships and international operations, XM Satellite Radio. "2009 Chevy Traverse customers will benefit from the experience of real-time traffic data and more than 170 channels of entertainment." "XM NavTraffic is certain to save drivers of the all-new Chevy Traverse precious time and money," said Ed Peper, general manager, Chevrolet. "We think we have a great-looking family vehicle with lots of utility in the Traverse, and NavTraffic just adds to that." Now available in 80 major U.S. markets, XM NavTraffic feeds data on incidents, such as accidents and road construction, directly to a vehicle's GPS navigation system via XM's nationwide satellite broadcast system. The driver is alerted to these incidents through the vehicle's navigation screen, allowing him or her to route around a jam before getting caught in traffic. XM NavTraffic also provides information on traffic flow where available. This allows users to view a color-coded overlay that indicates the average speed of travel along the driver's planned route. XM NavTraffic, powered by NAVTEQ Corporation, is the nation's leading real- time traffic service that offers the most comprehensive information and coast- to-coast updates every minute, ensuring that the driver has the latest and most detailed information at his or her fingertips. XM NavTraffic is already a standard, factory-installed feature on the Cadillac CTS and Cadillac CTS-V. The Traverse is on display this week at the 2008 Chicago Auto Show in the Chevy display. The XM Infotainment Vehicle will also demonstrate XM Radio and XM NavTraffic, along with its next-generation technologies for the vehicle, during press days, February 6-7, in the XM booth. For more information and photography on the 2009 Chevrolet Traverse, please visit http://www.media.gm.com/. About XM XM (NASDAQ:XMSR) is America's number one satellite radio company. Broadcasting live daily from studios in Washington, DC, New York City, Chicago, Nashville, Toronto and Montreal, XM's 2008 lineup includes more than 170 digital channels of choice from coast to coast: commercial-free music, premier sports, news, talk radio, comedy, children's and entertainment programming; and the most advanced traffic and weather information. XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Subaru, Suzuki and Toyota is available in 140 different vehicle models for 2008. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/. Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-1-07. Copies of the filing are available upon request from XM Radio's Investor Relations Department. Programming is subject to change. FCMN Contact: Marie.farrar@xmradio.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: XM
CONTACT: Marie Farrar of XM, +1-202-380-4151, marie.farrar@xmradio.com Web site: http://www.xmradio.com/
http://www.chicagoautoshow.com/
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Profile: automotive-news
SmartEdge by GMAC Adds Insurance to Curriculum
SmartEdge by GMAC Adds Insurance to Curriculum Free financial literacy program expands scope with tips on insurance SAN FRANCISCO, Feb. 6 /PRNewswire/ -- GMAC Financial Services is expanding the focus of its free financial literacy program, SmartEdge by GMAC, to include consumer-friendly tips on insurance-related products and services. The new component adds to its existing automotive and mortgage financing lessons. The curriculum will be available on the SmartEdge Web site in April, and the first public event, featuring the insurance component, is scheduled for May 14. Now in its fourth year, SmartEdge is an educational campaign designed to unlock the mysteries of personal credit, increase awareness and understanding of financing, and help consumers with important financial decisions. Topics include whether to buy or lease a vehicle, how to finance a new home and what to consider when buying home or automotive insurance. "SmartEdge has always been a fantastic tool for consumers to educate themselves about personal credit, and soon they also will use it to better understand how to address their personal insurance needs," said Deborah Pfliegel, vice president of Corporate Alignment for GMAC Insurance. "Whether it's homeowners insurance, vehicle service contracts or other automotive insurance products, SmartEdge will break down these insurance offerings into easy-to-understand information." SmartEdge focuses on teaching consumers how to establish good credit, manage a budget and evaluate financing and insurance options. The program and consumer tips are free with absolutely no strings attached. "Buying a vehicle, a home or seeking the security of insurance are big financial decisions and not always well understood. That's why GMAC created SmartEdge and continues to develop the program," said Don Ferguson, director of Minority Dealer Development, Relationship Marketing and Diversity. "SmartEdge is an education tool that brings information to consumers in a more fresh and engaging way, giving people the flexibility to learn at their own pace." Consumers can access current SmartEdge program information at its newly redesigned Web site at www.SmartEdgebyGMAC.com, via seminars and by attending one of the in-person events conducted by GMAC in local communities. In 2007, GMAC held more than 2,300 events and activities nationwide. In addition to the hundreds of events and seminars conducted around the country, GMAC has also established the SmartEdge Book Allowance scholarship program. Through this program, GMAC collaborates with non-profit organizations to identify book-award recipients to help offset the costs of textbooks for post-high school education. GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC is passionate in its support of efforts that strengthen communities, focusing on housing and human services, financial literacy, education, youth development and the arts. For more information, go to www.gmacfs.com.
First Call Analyst:
FCMN Contact:
Source: GMAC Financial Services
CONTACT: Sarah Comstock, +1-313-656-6954, +1-313-815-3577, mobile,
sarah.n.comstock@gmacfs.com, or Mike Stoller, +1-313-656-6971,
+1-313-720-8036, mobile, michael.r.stoller@gmacfs.com, both of GMAC
Communications Web site: http://www.smartedgebygmac.com/
http://www.gmacfs.com/
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Profile: automotive-news
Acura and XM Announce Acura RL to Offer XM NavWeather
Acura and XM Announce Acura RL to Offer XM NavWeather Ground-Breaking, Real-Time, Weather Tracking Service for GPS Navigation Unveiled in 2009 Acura RL at 2008 Chicago Auto Show CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- Acura and XM (NASDAQ:XMSR) announced today that the 2009 Acura RL will offer XM NavWeather(TM) featuring Threat Matrix(TM) technology as a part of its AcuraLink(R) service. The new Acura RL was unveiled today at the 2008 Chicago Auto Show and will be on display in the Acura booth. Acura is XM's first automotive partner to debut the XM NavWeather service. (Photo: http://www.newscom.com/cgi-bin/prnh/20080206/NEW003 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO )
2009 Acura RL drivers will be able to experience real-time, personalized weather tracking service directly through the in-dash navigation system. XM NavWeather utilizes exclusive "Threat Matrix" technology to track and provide drivers immediate alerts on developing weather threats, such as hail, floods, tornado and storm warnings. To help inform RL drivers of weather conditions at a glance, the easily understood icons are integrated into the luxury sedan's large map display.
XM NavWeather transmits detailed nationwide weather information for more than 20 different weather conditions, scaled and customized for the driver's specific route and displayed on the vehicle's navigation screen. XM NavWeather also provides multi-day forecasts based on weather monitoring stations across the U.S. XM NavWeather was developed with Baron Services and utilizes Baron's exclusive Threat Matrix technology. Baron Services is also XM's weather partner for its award-winning XM WX Satellite Weather, a trusted information source for professional pilots and mariners. XM NavWeather builds upon the success of this professional grade service by providing a "driver friendly" interpretation of the dynamic weather data direct to the vehicle's navigation screen. "Acura was the first automotive partner to debut our award-winning real- time XM NavTraffic service, which makes it fitting that they are first to offer XM NavWeather," said Steve Cook, executive vice president, Automotive, XM Satellite Radio. "Drivers will soon find the convenience of both services impossible to live without." "Acura is a leader in developing the latest in customer relevant technologies that advance the driving experience," said Dick Colliver, executive vice president, Acura sales. "The real-time weather system featured on the new 2009 Acura RL further connects the driver to the world around them, allowing them to get where they need to go more quickly, safely and efficiently." "Drivers don't have time to scrutinize every bit of weather data, so we've done all the analysis before it reaches their vehicles," said Robert O. Baron, President and CEO of Baron Services. "This streamlined, driver-centric philosophy helps drivers stay informed about perilous road and weather conditions, while being able to focus on safely reaching their destinations." XM NavTraffic, powered by NAVTEQ Traffic, is the nation's leading real- time traffic service that offers the most comprehensive information and coast- to-coast updates every minute, ensuring that the driver has the latest and most detailed information at his or her fingertips. XM NavTraffic is now available in 80 major North American markets. In addition to the Acura RL display, the XM NavWeather service will be demonstrated in the XM Infotainment Vehicle during press days, February 6-7. The Infotainment Vehicle is designed to illustrate how XM's next-generation technology can be implemented by its automotive partners. About XM XM is America's number one satellite radio company. Broadcasting live daily from studios in Washington, DC, New York City, Chicago, Nashville, Toronto and Montreal, XM's 2008 lineup includes more than 170 digital channels of choice from coast to coast: commercial-free music, premier sports, news, talk radio, comedy, children's and entertainment programming; and the most advanced traffic and weather information. XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Ferrari, Subaru, Suzuki and Toyota, is available in 140 different vehicle models for 2008. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/. About Acura Acura offers a full line of technologically advanced performance luxury vehicles through a network of 268 dealers within the United States. The 2008 Acura lineup features five distinctive models including the RL luxury performance sedan, the TL performance luxury sedan, the TSX sports sedan, the turbocharged RDX luxury crossover SUV and the award-winning MDX luxury sport utility vehicle. About Baron Services Baron Services is a pioneer in sophisticated weather analysis and technology and a globally recognized industry leader in delivering technology for the communication of significant weather events. It offers a wide range of weather solutions and owns numerous weather technology patents. The company delivers cutting-edge radar systems, advanced forecast modeling, mobile weather analysis and localized weather displays. Operating primarily from Huntsville, Alabama, with offices in Oklahoma, North Carolina and Florida, Baron Services includes five specialized divisions that continue to advance the weather industry by providing systems engineered to save both lives and property. The company has, to date, installed all broadcast dual-polarimetric radars in the world. Threat Matrix is a trademark of Baron Services, Inc. Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-1-07. Copies of the filing are available upon request from XM Radio's Investor Relations Department. Programming is subject to change. First Call Analyst:
FCMN Contact: david.butler@xmradio.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080206/NEW003
NewsCom: http://www.newscom.com/cgi-bin/prnh/20070313/XMLOGO
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN5
PRN Photo Desk, photodesk@prnewswire.com
Source: XM; Acura
CONTACT: Marie Farrar of XM, +1-202-380-4151, marie.farrar@xmradio.com;
or Jessica Fini of Acura, +1-310-783-3396, Jessica_Fini@ahm.acura.com Web site: http://www.xmradio.com/
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Profile: automotive-news
Commercial Vehicle Group to Present at BB&T's Annual Transportation Services Conference
Commercial Vehicle Group to Present at BB&T's Annual Transportation Services Conference NEW ALBANY, Ohio, Feb. 6 /PRNewswire-FirstCall/ -- Commercial Vehicle Group, Inc. (NASDAQ:CVGI), a leading supplier of fully integrated system solutions for the global commercial vehicle market, today announced that Mervin Dunn, president and chief executive officer, and Chad M. Utrup, chief financial officer, will participate in the BB&T 23rd Annual Transportation Services Conference being held in Coral Gables, FL on February 14, 2008, at 10:30 a.m. ET. To listen to a live Web cast of the company's presentation, go to Commercial Vehicle Group's Website, www.cvgrp.com, click on "Investor Relations" and then the Web cast icon. The Web cast replay will be available until February 28, 2008. Listening to the Web cast requires speakers and Windows Media Player. If you do not have Media Player, download the free software at www.windowsmedia.com. About Commercial Vehicle Group, Inc. Commercial Vehicle Group is a leading supplier of fully integrated system solutions for the global commercial vehicle market, including the heavy-duty truck market, the construction and agriculture market and the specialty and military transportation markets. The Company's products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry, molded products and floor systems, cab structures and components, mirrors, wiper systems, electronic wiring harness assemblies and controls and switches specifically designed for applications in commercial vehicle cabs. CVG is headquartered in New Albany, OH with operations throughout North America, Europe and Asia. Information about CVG and its products is available on the internet at www.cvgrp.com.
First Call Analyst:
FCMN Contact: sandy.cashell@cvgrp.com
Source: Commercial Vehicle Group, Inc.
CONTACT: John Hyre, Investor Relations of Commercial Vehicle Group,
+1-614-289-5157, john.hyre@cvgrp.com Web site: http://www.cvgrp.com/
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Profile: automotive-news
Redesigned 2009 Acura RL Debuts at Chicago Auto Show
Redesigned 2009 Acura RL Debuts at Chicago Auto Show Bold Styling, Larger Engine, and Improved Handling Help RL Raise the Luxury Performance Bar CHICAGO, Feb. 6 /PRNewswire/ -- The redesigned 2009 Acura RL luxury sedan made its world debut today at the Chicago Auto Show. Featuring bold, sleek exterior styling, an upgraded interior, advanced technologies and powerful new engine, the RL once again pushes the limits of performance, style, and luxury. The 2009 RL will go on-sale this spring at Acura dealerships nationwide. The 2009 RL furthers cutting edge technology with the addition of new high-tech items including AcuraLink(R) weather, AcuraLink(R) Traffic Rerouting(TM), XM(R) Note, Active Sound Control, and Bluetooth(R) Audio to an already robust list of features found on the previous RL. To enhance handling, new chassis technology abounds in the drivetrain in the form of an improved Super Handling All-Wheel Drive(TM) system, a revised steering system, upgraded coil springs, better performing shock absorbers, larger rear stabilizer bar, and more aggressive wheels and tires. Performance improves with the RL thanks to a new, larger 3.7-liter V-6 that incorporates the first ever SOHC use of VTEC(R) valvetrain actuation for both the intake and exhaust valves. "RL represents the very best we have to offer in terms of engineering, technology, performance, luxury and safety", said Dick Colliver, executive vice president, sales. "It's designed for a new generation of performance-luxury buyers looking to travel more quickly, more efficiently and more connected to the world around them." For 2009, the RL will be offered in three different trim levels including RL, RL with Technology Package and RL with Technology Package Plus CMBS(TM). All RL's receive a potent new 3.7-liter V-6 engine, Super Handling All-Wheel Drive(TM), a Bose(R) Surround Sound audio system, Bluetooth(R) HandsFreeLink(R) connectivity and a GPS-based solar-sensing climate control system. The Technology Package includes the satellite-linked Acura Navigation System with Voice Activation(TM) with rearview camera, AcuraLink(R) Real-time traffic, AcuraLink(R) weather, Traffic Rerouting(TM), a rear view back-up camera, Active Front Lighting System (AFS), ventilated front seats, and a wood/leather steering wheel and shift knob. The top RL package is the Technology Package with CMBS(TM) which also includes Acura's acclaimed Collision Mitigation Braking System(TM) (CMBS(TM)), Adaptive Cruise Control (ACC), and genuine wood instrument panel trim. Powertrain The innovation built into the new RL begins with the most powerful engine ever offered in an Acura sedan. An all-new 3.7-liter V-6 engine develops 300 horsepower and 271 lb-ft of torque thanks to an innovative new VTEC(TM) valvetrain system for both the intake and exhaust valves, a higher compression ratio, along with a special dual-stage magnesium intake manifold that enables the intake to function as a single- or dual-plenum manifold design based on engine operating parameters. In addition to developing improved power and torque, the RL engine meets tough CARB ULEV-2 emission standards and delivers good fuel economy. The RL's engine bay appears more upscale thanks to a new surround panel assembly that reduces visual distractions and focuses attention directly on the all-new 3.7-liter V-6 engine. To handle the higher power of the 3.7-liter engine, a new version of the Sequential SportShift 5-speed automatic transmission is fitted to the 2009 RL. Featuring new "smart" F1(R)-style steering wheel mounted paddle shifters and a new straight-gate console mounted gear selector, the RL driver now has more gear control than ever before. The RL's acclaimed Super Handling All-Wheel Drive(TM) (SH-AWD(TM)) system returns for 2009, but is now quicker responding and better performing. There are numerous traction advantages of all-wheel drive, yet SH-AWD(TM) does a key function that is not available with traditional AWD systems -- SH-AWD(TM) utilizes torque vectoring to increase the rotation speed of an outside rear wheel during aggressive cornering to help the car turn more effectively while under power. This "yaw" function reduces the cornering load on the front tires to minimize understeer, to improve handling balance, and to escalate total cornering grip. Body and Chassis To further enhance handling and ride comfort, the new RL retains a fully independent suspension system with front double-wishbone and rear multi-link architecture. For 2009 the RL features higher rate coil springs, larger diameter stabilizer bars, stiffer subframe mount bushings and improved design steering rack components. To further improve handling and looks, new 18-inch diameter 7-spoke aluminum wheels are matched with more aggressive tires (replacing the previous 17-inch wheel/tire offering). Exterior/Interior The 2009 RL's new exterior styling is not only more aggressive, but delivers excellent aerodynamics and reduced rear lift at higher speeds. The RL's more athletic style foreshadows the power concealed by the new power plenum front grille and blow-formed aluminum hood. The RL's shape is taut and athletic, and its acceleration and cornering performance allow it to challenge the most capable German and Japanese sports sedans. Comfort, quietness and ride quality are also on a par with performance sedan competitors. For 2009, eight exterior colors are available-5 of which are new-including a new pearl pigment process that improves luster and shine. Inside, the 2009 RL features a more elegantly styled interior that includes more room for rear seat passengers, easier-to-use front seat belts, door-mounted pull pockets, softer arm rests, redesigned vents, larger/clearer lettering for HVAC controls, and easier actuation of climate control functions. A revised steering wheel with available genuine wood trim (included with the CMBS package) and metal-look accents is now fitted to the RL along with a matching wood-trimmed transmission shift knob. Complementing the steering wheel are upgraded gauges that incorporate brushed metal accents for enhanced appearance. For 2009, additional insulation, a more high-tech design of Acura's acoustic glass windshield, and a new Active Sound Control (ASC) noise abatement system team to further reduce the RL's already quiet cabin. The RL's perforated leather front seats now incorporate six levels of heated/cooled ventilation. Moreover, just like the driver's seat, the passenger front seat now has 10-way power adjustability. For 2009, the center panel controls are now more intuitive and are surrounded by a new background color along with improved quality wood patterned panels. These interior upgrades are complimented by advanced electronics that include a satellite-linked Acura Navigation System with Voice Activation(TM) along with the innovative AcuraLink(R) satellite communication system with Real-time traffic, AcuraLink(R) Traffic Rerouting(TM) and (new for 2009) AcuraLink(R) weather. The RL is the first vehicle on the market to feature in-dash integrated, continually updated real-time weather information in a single-screen format. The spectacular Acura/Bose(R) 10-speaker Sound System with DVD-Audio returns but is now upgraded to include Bluetooth(R) Audio, even richer audio sound, XM(R) Note, improved button legibility, and a USB connectivity port. Safety The 2009 RL retains Acura's extremely rigid Advanced Compatibility Engineering(TM) (ACE(TM)) body structure that features extensive use of high- tensile steel and lightweight aluminum components to take vehicle construction beyond conventional safety protocols while keeping overall vehicle weight in check. The ACE(TM) structure's front-mounted polygonal main frame is designed to help prevent cabin deformation by distributing frontal impact forces through multiple load bearing pathways-and away from the passenger compartment. For 2009, to enhance safety a new Active Head Restraint System is built into the front seats to help improve neck and head protection in the event in a rear impact collision. To further aid in safety, the RL includes as standard a passenger seatbelt reminder, Tire Pressure Monitoring System (TPMS) and six airbags. These advances team to make the 2009 RL the strongest, most powerful, best handling, safest and most luxurious sedan Acura has ever built. The RL earned 5-star ratings (the best possible) for frontal and side crash tests, and for rollover resistance, from the National Highway Traffic Safety Administration (NHTSA). The RL is the fourth vehicle in the history of the program to earn the top rating of "5-star" in all three test categories. Government star ratings are part of the National Highway Traffic Safety Administration's (NHTSA) New Car Assessment Program (http://www.safercar.gov/). In addition, the Insurance Institute for Highway Safety (IIHS) awarded the RL its top rating of GOOD in Side Impact Collision Evaluation (SICE) along with a GOOD rating for IIHS' frontal offset crash test. With a new Active Head Restraint System for front seat passengers, the 2009 RL is anticipated to receive a GOOD rating in IIHS rear crash protection evaluation. Acura Acura offers a full line of technologically advanced performance luxury vehicles through a network of 268 dealers within the United States. The 2008 Acura lineup features five distinctive models including the RL luxury performance sedan, the TL performance luxury sedan, the TSX sports sedan, the turbocharged RDX luxury crossover SUV and the award-winning MDX luxury sport utility vehicle. For additional information about Acura vehicles, please visit http://www.acura.com/. For media inquiries, please visit http://www.acuranews.com/. *Based on preliminary 2009 EPA mileage estimates determined during
internal testing that reflects new EPA fuel economy methods beginning
with 2008 models. Use for comparison purposes only. Do not compare to
models before 2008. Your actual mileage will vary depending on how you
drive and maintain your vehicle.
First Call Analyst:
FCMN Contact:
Source: American Honda Motor Co.
CONTACT: Mike Spencer, +1-310-783-3165, or Jessica Fini,
+1-310-783-3396, or Detroit, Chuck Schifsky, +1-313-202-3150, or New York,
Chris Naughton, +1-212-355-9191, or Atlanta, Sara Pines, +1-678-339-1385, all
of American Honda Motor Co. Web site: http://www.honda.com/
http://www.acura.com/
http://www.acuranews.com/
http://www.safercar.gov/
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Profile: automotive-news
MultiVu Video Feed: MotorWeek to Announce 2008 'Best of the Year' Drivers' Choice Award Winner
MultiVu Video Feed: MotorWeek to Announce 2008 'Best of the Year' Drivers' Choice Award Winner NEW YORK, Feb. 6 /PRNewswire/ --
SATELLITE FEEDS: Wednesday, February 6th, 2008 Thursday, February 7th, 2008
1:00 PM - 1:15 PM ET 10:00 AM - 10:15 AM ET
Galaxy 26 Galaxy 26
Transponder 11 Transponder 11
C-band C-band
Downlink Freq: 3920 Vertical Downlink Freq: 3920 Vertical NEWS: Consumer-Driven Awards Also Recognize "The Best" In Popular Vehicle Segments FORMAT: Soundbites and B-roll. STORY SUMMARY:
Consumers are demanding vehicles that fit their lifestyles and personalities, but don't strain their wallets or the environment. With the consumer in mind, MotorWeek will officially announce the winner of its 2008 "Best of the Year" Drivers' Choice Award during the Chicago Auto Show Wednesday, February 6th.
MotorWeek's Drivers' Choice Awards have been presented since 1983, and are among the auto industry's most prestigious awards. Unique for their consumer focus, the awards are based on performance, price and practicality. MotorWeek test-drives 150 new cars, trucks and SUVs each year. From Best Convertible to Best Crossover, this year's winners reflect the best models in 14 categories of popular vehicle segments, with one rising above the rest to win the coveted "Best of the Year" award. MotorWeek, the original television automotive magazine series, is one of the nation's leading sources for automotive industry news, new car information and driving entertainment. The award-winning series is hosted by John Davis and is seen nationwide on PBS, SPEED and V-me. For the complete press release, visit www.motorweek.org. SOUNDBITES:
-- John Davis, MotorWeek Host
-- Winning Auto Manufacturer B-ROLL INCLUDES:
**Presentation of Award ** "Best of the Year" winner -- driving, interior & exterior shots of vehicle**
Full Screen Graphics of Drivers' Choice Award winners in 14 categories VIDEO PROVIDED BY: MotorWeek
Source: MotorWeek
CONTACT: For Technical Information or Hard Copy, please call Miriam
DePalmer, +1-410-581-4033 Web site: http://www.motorweek.org/
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Profile: automotive-news
KISS Auction LLC Announces Launch of New Online Auto Auction Site for the Motor City and State of Michigan
KISS Auction LLC Announces Launch of New Online Auto Auction Site for the Motor City and State of Michigan New Site to Build Robust Online Community by Simplifying Automotive Buying and Selling for Dealers while Leveraging Internet Technology DETROIT, Feb. 6 /PRNewswire/ -- Larry White, 20+ year veteran of the Michigan automotive industry and Jeff Stanislow, Southeast Michigan-based innovator in Internet marketing, today announced the launch of KISSAutoAuction.com, a new online portal designed to enable the purchasing and selling of used automobiles by the Michigan automotive dealer community. The Website, based on the premise to Keep It Simple, Sir! on behalf of its clients, will host the first Internet site specifically dedicated to serving the used automobile industry in Michigan. The password-protected, secure Website will allow dealers to browse and bid for specific models as well as present their stock for other dealers to consider for purchase. The Website allows for the transactions of all brands and models. Industry veteran Larry White knew there was a better way to secure and sell vehicles than the traditional auction, which required a great deal of time, travel and valuable time away from the marketplace. "An auction pricing model guarantees the best value for the purchaser, and by allowing the seller to set a minimum bid, ensures they are satisfied as well. All at a fraction of the costs compared to traditional block auctions," said White. "The dealer community values honesty, integrity and fairness, all qualities that will be evident to users of KISSAutoAuction.com." As an established Internet marketer, Jeff Stanislow knew the Internet was the ideal medium to market vehicles in an efficient, user friendly and cost effective fashion. "We are leveraging technology to provide the best business value attainable for our clients," said Stanislow, co-founder of the site. "Not only will tools such as RSS feeds and text messaging make commerce quicker and simpler, but our network of partners such as 5/3rd Bank, Motor City Interactive, Automotive Inspection Services and many others will create an environment that is unique and unrivalled in the used automobile space." In addition to providing an efficient method for dealer transactions, KISS Auto Auction is partnering with a local charity to make it simple for dealers to donate vehicles. Stanislow stated, "This is another first in the industry, assisting dealers to move retired inventory to those in need which helps build strong communities." The March 21st launch celebration at the Rock Financial Showplace in Novi will be an invitation-only Las Vegas-style night hosted by Motor City favorite, former Detroit Piston Rick Mahorn. Other celebrities will be on hand to join in the celebration as well, including the KISS Girls. KISS Auto Auction will also announce its inaugural awards program which will honor individuals for outstanding achievement in the used automobile industry in Michigan. Please join us in celebrating the launch of KISS Auction. See www.KISSAutoAuction.com for more details. About KISS Auto Auction KISS Auto Auction is the first company to present a comprehensive, online marketing solution for used automobile dealers. Using a simple commerce model with proven Internet technology solutions, KISS Auction creates a virtual community that delivers unparalleled opportunities for both buyer and seller. Through a full complement of online resources and integrated marketing solutions, KISSAutoAuction.com offers the most efficient and cost effective marketplace for used vehicles. Contact: Patrick@KISSAutoAuction.com
1-877-364-KISS
734.255.6466 cell
First Call Analyst:
FCMN Contact:
Source: KISS Auction LLC
CONTACT: Patrick McLaughlin, +1-877-364-KISS, +1-734-255-6466 (cell),
Patrick@KISSAutoAuction.com, for KISS Auction LLC Web site: http://www.kissautoauction.com/
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Profile: automotive-news
Phire Branding Company Named Marketing and Branding Partner for Saleen
Phire Branding Company Named Marketing and Branding Partner for Saleen ANN ARBOR, Mich., Feb. 6 /PRNewswire/ -- Phire Branding Company, a full- service design, advertising, and brand consultancy firm headquartered in Ann Arbor, has been named Marketing and Branding Partner by Saleen. Phire Branding first began working with Saleen in late 2007. Headquartered in Troy, MI, Saleen creates high performance vehicles meant for an exclusive few. The vehicles are a perfect mix of power and craftsmanship, and the brand enjoys a loyal following in the world of automobile enthusiasts. As Marketing and Branding Partner, Phire Branding Company has first conducted extensive discovery and positioning work. This phase included a brand audit, both internal and external surveys, as well as the gathering of industry information and a competitive analysis, setting a strong new foundation for the Saleen brand. Based on their findings, Phire Branding will conceptualize and create dynamic marketing materials ranging from traditional to interactive in order to best capture this new positioning. Specific initiatives included brand positioning, corporate ID materials, communications plan, and brand core creation. Following the initial branding, Phire will also be responsible for complete website development and implementation, online and print ad campaign, and internal documents. "We are truly excited about working with Saleen." said Jim Hume, Phire Principal. "They create works of art for the road, and we are responsible for bringing the passion of the company to the forefront in an aggressive and highly-designed manner. Saleen is making changes for the better, and we want the materials to reflect their enthusiasm." "Phire Branding is one of the best collection of creative minds I have encountered," stated Marques McCammon, General Manager for Saleen Automotive Division. "They really immerse themselves in your brand and your buyer and as such, their results are generally spot on." About Phire Branding Company Through myriad capabilities, Phire Branding Company creates breakthrough solutions to plan, position/reposition, execute, and nurture strong brands for a wide range of clients. Their website is www.phirebranding.com. About Saleen Saleen Inc, celebrates its twenty-fifth anniversary in 2008-09. With roots in racing, its vehicles go well beyond the expected, providing a unique style and unmatched power to car enthusiasts and dreamers alike. Vehicles include the H302 Supercharged, the S331 Sport Truck, S281 Supercharged, and the S302 Extreme. First Call Analyst:
FCMN Contact:
Source: Phire Branding Company
CONTACT: Lindsay Brown of Phire Branding Company, +1-734-332-4200 x221,
Lindsay@PhireBranding.com Web site: http://www.phirebranding.com/
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Profile: automotive-news
CVS Samaritan Van Program Celebrates 30 Years of Helping Motorists on the Nation's Highways
CVS Samaritan Van Program Celebrates 30 Years of Helping Motorists on the Nation's Highways - The program, sponsored by CVS/pharmacy, provides free roadside assistance in 9 major markets - WOONSOCKET, R.I., Feb. 6 /PRNewswire/ -- If you have ever been stuck on the side of the road with a flat tire, a dead battery, or other vehicular emergency, you are probably familiar with the feeling of relief that comes when help arrives. For the last 30 years, the CVS Samaritan Van program has provided that help and relief to more than a million drivers in need of roadside assistance. CVS/pharmacy, the retail division of CVS Caremark, launched its CVS Samaritan Van program in Rhode Island 30 years ago on February 6, 1978, the same day that the "Blizzard of '78" struck the Northeast. The single vehicle and its driver immediately began to provide assistance to motorists who became stranded by the sudden storm. Thirty years later, a fleet of CVS Samaritan Vans, patrolling highways around nine major U.S. cities, have traveled more than 10 million "help miles" and assisted more than a million people. The distinctive white vans with the red "CVS/Samaritan" logo have become a familiar site to commuters in Boston, Charlotte, Chicago, Cincinnati, Cleveland, Detroit, Indianapolis, Providence, and Washington, D.C. "By working in cooperation with local transportation departments, metro traffic centers, law enforcement and other emergency responders, our highly trained CVS Samaritan Van drivers provide welcome roadside assistance and support," said Eileen Howard Dunn, Senior Vice President of Corporate Communications and Community Relations at CVS Caremark. "By helping to keep people safe on our nation's highways, the CVS Samaritan Van program is part of our company's Vision to strive to improve the quality of human life." CVS Samaritan Van drivers, who are ASE-certified in motor vehicle repair and are also licensed EMTs, are capable of making numerous on-site repairs, administering medical help, or using their communications equipment to summon police, rescue vehicles or tow trucks. All repairs, supplies and aid they provide are free-of-charge. Public response to the CVS Samaritan Van program is overwhelming. More than 7,000 "thank you" letters and emails are received every year from people who have been assisted by the program. Sample comments from motorists assisted by CVS Samaritan Vans: "I just wanted to send you a note to express my sincere gratitude for helping my husband who was stranded in the middle of the highway. I was terrified that he would get hit by another car while sitting there. I have seen the CVS vans on the highway in the past so I did a search on the internet and found the number. I spoke to Paul who was extremely polite and helpful. Within 10 minutes Tim Sullivan reached my husband, helped him out and he was on his way again. If that wasn't impressive enough, Paul called me back to update me! This is quality service that you just don't get anymore and it was free which I didn't know. One thing is for sure, I have always used CVS for my pharmacy needs but now I won't go to another pharmacy for anything ever!" "Thank you for being there just when we needed you. Your service is invaluable to stranded people. Without you, we would have had to wait 45 minutes in rush-hour traffic for assistance, which would have been very scary." "Ernest (driver) was a lifesaver. I had a flat tire and my lug wrench kept slipping on the lug nut. Ernest had the correct tool and I was on my way. He saved me from calling a tow truck. Thanks!" "I was stranded with a flat during rush hour and had been waiting an hour for my roadside assistance plan to show up. Then John came along and was so polite. I'll never forget this helpfulness that day. This program is amazing. Thank you!" Over the course of 30 years, the CVS Samaritan Van program has received numerous awards and recognition, including Traffic Safety Awards form the National Safety Council and the Massachusetts Safety Council; the Outstanding Service Award from the American Red Cross; the Innovative Highway Finance Award for Partnerships from the U.S. Department of Transportation and the Federal Highway Authority; the Distinguished Contribution Award from the National Association of Counties; the Governor's Award for Traffic Safety from the State of New York; and Certificates of Appreciation from the State Police in Connecticut, Massachusetts, New York and Rhode Island. The CVS Samaritan Van program currently operates in the following locations: -- Boston, MA -- Rt. 128 from Rt. 37 to Rt. 2; I-93 from Rt. 128 to I-90
-- Charlotte, NC -- I-77 from the SC State Line to I-85 & I-85 to Sugar
Creek Road
-- Chicago, IL -- I-290/Rt. 53 from Lake Cook Road to I-294 interchange
-- Cincinnati, OH/Northern Kentucky -- I-275,Winton Rd. to Montgomery Rd.;
I-71 & I-75 from KY state line to I-275, I-71/75 from OH state line to
Florence KY, I-471 from OH state line to I-275, & I-275 Kellogg Avenue
to Dixie Highway
-- Cleveland, OH -- I-71, Snow Rd. to I-90 E; 25th St. to Marginal Rd.
-- Detroit, MI -- I-75 Rochester Road to I-94; I-696 from Rt.10 to I-94
-- Indianapolis, IN -- I-465 to Keystone Avenue & I-70 Keystone Avenue to
I-465
-- Providence, RI -- I-95 from MA state line to Rt. 117; I-195 to MA state
line
-- Washington, D.C. - I-395 from I-95 in VA to I-295 in D.C. The CVS Samaritan Van program is operated on behalf of CVS/pharmacy by Samaritania, Inc., located in Franklin, Massachusetts. About CVS/pharmacy CVS/pharmacy, the retail division of CVS Caremark Corporation (NYSE:CVS), is America's largest retail pharmacy with more than 6,200 retail locations. CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at http://www.cvs.com/pressroom, as well as http://investor.cvs.com/. CONTACT: Mike DeAngelis
CVS/pharmacy
401-770-2645
First Call Analyst:
FCMN Contact:
Source: CVS/pharmacy
CONTACT: Mike DeAngelis of CVS/pharmacy, +1-401-770-2645 Web site: http://www.cvs.com/
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Profile: automotive-news
posted by automotive-news # 9:39 AM
Toyota 1/X Concept Makes North American Debut at 2008 Chicago Auto Show
Toyota 1/X Concept Makes North American Debut at 2008 Chicago Auto Show CHICAGO, Feb. 6 /PRNewswire/ -- The Toyota 1/X concept vehicle made its North American debut today at the 2008 Chicago Auto Show. Developed by Toyota Motor Corporation, the Toyota 1/X compact hybrid offers a glimpse into the next era of automotive technological design. The Toyota 1/X redefines from its very roots the idea of what it means to be environmentally considerate. Pronounced 1/Xth, the name is derived from its vehicle mass, fuel consumption and emissions output, each totaling a fraction of that of other vehicles in its class. The 1/X features an aerodynamic ultra-lightweight design that maintains the interior space of the Toyota Prius hybrid and is approximately one-third the weight of the Prius. Its low 926-pound curb weight is partially achieved through the use of a light but very strong carbon fiber reinforced plastic (CFRP) throughout the body frame. The aerodynamic shape of the 1/X and unique cabin design result in smaller pillars, allowing passengers more visibility and helping to create a greater sense of openness and freedom with its outer surroundings for driver and passengers. The CFRP material is lighter and stronger than traditional metals, creating a shock-absorbing like structure with cross-sections that help absorb energy during an impact. The 1/X roof is produced from a bio-plastic made from environmentally-responsible material derived from kenaf and ramie plants. The result is a roof that improves heat insulation, emits less carbon dioxide, increases the amount of light entering the cabin, and reducing noise. On the inside, the 1/X employs four ultra-lightweight seats made of polyester fiber that is knitted three-dimensionally for added comfort. The material functions like a spring or damper that helps create a cushion-like feel for all occupants. The ultra-lightweight stature of the 1/X also helps contribute to a fuel efficiency target that would double that of the Prius and allow the 1/X to operate with an ultra-small hybrid powertrain located under the rear seat. The system combines a home rechargeable plug-in hybrid unit with a small 500cc 0.5-liter flexible-fuel engine that is 1/4th of the total weight of the Prius powertrain. The hybrid plug-in concept is designed to accommodate a lithium-ion battery that would be rechargeable at home. The result is a vehicle with the possibility of traveling over 600 miles on a small four-gallon tank of fuel and achieving the acceleration performance that is equivalent to the Prius. In consideration of pedestrians and oncoming traffic, the 1/X is equipped with non-glare headlights. The front of the 1/X is dominated by an LED lighting system that sweeps under and across its large front windshield. The LED system helps eliminate glare emanating from the headlights. At sunset, the entire surface of the LED system softly illuminates the entire front surface. With the headlights on, the LED system surrounds the headlights with a soft light, helping to prevent glare from striking oncoming cars and nearby pedestrians. The light weight of the Toyota 1/X allowed designers to equip the vehicle with smaller and thinner wheels that help reduce splashing while driving in wet conditions. The tires are designed with central grooves that further help prevent water from splashing in the direction of pedestrians. The 1/X concept is one more example of Toyota's commitment to designing clean, safe and innovative vehicles. The Toyota 1/X concept made its world debut at the 2007 Tokyo Motor Show. TOYOTA 1/X CONCEPT AND PRIUS SPECIFICATION COMPARISON 1/X Concept Prius
Exterior Dimensions (inches)
Total Length 153.5 175.0
Total Width 63.8 67.9
Total Height 55.5 58.1
Wheelbase 102.4 106.3 Weights and Capacities
Curb Weight (lbs) 926 2,890
Seating Capacity 4 5 Powertrain
Gas Engine 0.5 liter 500 cc 1.5 liter 1,497 cc
Hybrid Battery Type Lithium ion Nickel Metal Hydride (Logo: http://www.newscom.com/cgi-bin/prnh/20030501/TOYLOGO )
First Call Analyst:
FCMN Contact:
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030501/TOYLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Toyota Motor Sales, USA, Inc.
CONTACT: Sam Butto of Toyota Division Communications, +1-310-468-7728 Web site: http://www.toyota.com/
http://pressroom.toyota.com/ NOTE TO EDITORS: Photography to accompany this story is available and can be retrieved in digital form by media without charge at http://pressroom.toyota.com. -------
Profile: automotive-news
posted by automotive-news # 9:36 AM
Lexus Introduces Pebble Beach(R) Collection RX 350 and ES 350 at Chicago Auto Show
Lexus Introduces Pebble Beach(R) Collection RX 350 and ES 350 at Chicago Auto Show Luxury utility vehicle and luxury sedan receive exclusive package for the first time TORRANCE, Calif., Feb. 6 /PRNewswire/ -- Lexus today introduced the Lexus Pebble Beach Collection of vehicles at the Chicago Auto Show. The RX 350 luxury utility vehicle and ES 350 luxury sedan will receive Pebble Beach Edition packages for the first time, extending a relationship with Pebble Beach Company that began in 2003 and has since produced an SC 430 Pebble Beach special edition luxury hardtop convertible every year. The goal of the Pebble Beach Collection is to evoke the feeling of exclusivity that comes with an excursion to the Pebble Beach Resorts. Both the RX and ES Pebble Beach Editions will feature signature colors, popular options and unique badging. Additionally, Pebble Beach Edition owners will have the opportunity to customize their ownership experience by selecting from one of three distinctive merchandise packages: Callaway Golf Experience, Travel Package or Epicurean Encounter. Production of the Pebble Beach Collection RX and ES is limited to 6,000 vehicles each and will be available beginning in mid-February for the RX and mid-March for the ES models. In addition, a sixth version of the successful SC 430 Pebble Beach Edition model will be introduced this summer. To culminate the collection, an LS 600h L Pebble Beach Edition will debut this fall and will include a luxury travel experience to the world-famous Pebble Beach Resorts. RX 350 Pebble Beach(R) Edition The RX 350 Pebble Beach Edition will be available in three colors: Classic Silver Metallic, Obsidian Black and Truffle Mica. Truffle Mica is available on the RX only with this special edition package. The RX will feature new and unique design 18-inch wheels and chrome grille, a color-keyed rear spoiler and a special interior trim combination. Customized floormats, featuring Pebble Beach Company's signature The Lone Cypress(TM) logo, are included. On the exterior of the RX, Pebble Beach Edition badging will be on the front fenders. The RX 350 Pebble Beach Edition is offered in both front-wheel and all-wheel drive and marks the first Lexus special edition model built in North America at Toyota Motor Manufacturing Canada. The Manufacturer's Suggested Retail Price (MSRP) of the RX Pebble Beach Edition package is $3,880. The base MSRP of the front-wheel drive RX 350 is $37,500 and $38,900 for the all-wheel drive model. ES Pebble Beach(R) Edition The sleek ES 350 Pebble Beach Edition is available in the exclusive Truffle Mica color, as well as Tungsten Pearl Silver and Obsidian Black. The 7-spoke 17-inch wheels come with an exclusive liquid graphite finish while the interior of the ES features semi-aniline leather and a wood and leather steering wheel. The ES Pebble Beach Edition also features The Lone Cypress(TM) logoed floormats and special Pebble Beach Edition badging on the front fenders. Lexus Personalization Program Owners of an RX or ES Pebble Beach Edition can customize their ownership experience with the Lexus Personalization Program. Three distinct categories of packages are designed to invoke the unparalleled feel of the world-famous Pebble Beach Resorts: The Callaway Golf Experience, Travel Sets, and Epicurean Encounter. Owners can select from item(s) in one of the packages. The Callaway Golf(R) Experience Four exclusive packages are designed to improve the look and performance of one's golf game. One dozen personalized Callaway Golf Tour ix Golf Balls can be combined with a Callaway Golf Ft-I driver or Callaway Golf Hyper X driver and one X Hybrid. Three Callaway Golf X-Forged wedges and one Odyssey White Hot XG 2-Ball putter are matched to one dozen personalized Callaway Golf Tour ix Golf Balls. One case (12 dozen) of personalized Callaway Golf Tour ix Golf Balls is also available. Travel Package Pebble Beach Edition owners can carry style and refinement from their vehicle into a luxury hotel with one of three luxury luggage packages. A cafe- colored three-piece leather luggage set includes two cabin duffels, one carriage duffel, and personalized embossed luggage tags. Two pairs of Callaway Golf Eyewear complement the café-colored leather briefcase or the cafe-colored leather tote bag. Epicurean Encounter Those owners interested in improving their culinary skills can choose the Epicurean Encounter. They can select a six-piece Viking(R) Santoku Cutlery Set including 10-slot maple knife block or a four-piece Viking Cookware set. Both come with a Viking Cooking School $200 gift card redeemable for cooking classes or merchandise online at vikingrange.com. The package also offers the option of a cafe-colored leather wine tote and a diverse selection of wines from member wineries of the highly regarded Napa Valley Vintners. About Lexus Lexus has become synonymous with luxury since its introduction in 1989. By offering some of the finest quality luxury vehicles and providing benchmark customer service, Lexus has remained the top-selling luxury nameplate in the United States for eight years in a row. Lexus and its 223 dealers have repeatedly achieved high honors for both the products they sell and the customer service they provide. About Pebble Beach Company Headquartered on California's scenic Monterey Peninsula, Pebble Beach Company owns and operates the world-famous Pebble Beach Resorts, including The Lodge at Pebble Beach, The Inn at Spanish Bay and Casa Palmero. The company also operates four renowned golf courses including Pebble Beach Golf Links, site of the 2010 U.S. Open, marking the fifth playing at Pebble Beach. The company annually hosts premier events such as the Pebble Beach Concours d'Elegance, and the AT&T Pebble Beach National Pro-Am. Pebble Beach(R), Pebble Beach Resorts(R) and The Lone Cypress(TM) are trademarks of Pebble Beach Company. First Call Analyst:
FCMN Contact:
Source: Lexus
CONTACT: Nancy Hubbell, +1-310-468-7633, or Greg Thome, +1-714-381-7666,
or Craig Taguchi, +1-949-322-3422, all of Lexus Communications Web site: http://www.lexus.com/
http://www.pressroom.lexus.com/ NOTE TO EDITORS: Electronic images of the 2008 LS 600h L are available online via the Wieck Photo Database (972/392-0888) or via the Lexus news media Web site (http://www.pressroom.lexus.com). -------
Profile: automotive-news
posted by automotive-news # 9:30 AM
Visteon to Release Fourth-Quarter and Full-Year 2007 Financial Results Feb. 14
Visteon to Release Fourth-Quarter and Full-Year 2007 Financial Results Feb. 14 VAN BUREN TOWNSHIP, Mich., Feb. 6, 2008 /PRNewswire-FirstCall/ -- Visteon Corporation (NYSE:VC), one of the world's leading suppliers of automotive components and integrated systems, will release its fourth-quarter and full- year 2007 financial results at 7 a.m. EST on Thursday, Feb. 14, via PR Newswire. At 9 a.m. EST, a conference call is scheduled to discuss the results in further detail, as well as other related matters. (Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) For whom: Security analysts, fund managers and media representatives
What: Visteon's fourth-quarter and full-year 2007 financial results
conference call
When: 9 a.m. EST, Thursday, Feb. 14, 2008
Dial-in numbers: U.S./Canada: 888-452-7086; International: 706-643-3752
(Call in approximately 10 minutes prior to the start of the conference.) Those in the United States interested in hearing a replay of the conference should call 800-642-1687; international callers should dial 706-645-9291. The pass code to access the replay is 33644929 (domestic and international). The replay will be available for one week. Visteon will provide a broadcast of the quarterly meeting for the general public via a live audio webcast. The conference call, along with the financial results release, presentation material and other supplemental information, can be accessed through Visteon's Web site at www.visteon.com. Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 26 countries and employs approximately 43,000 people. Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO
PRN Photo Desk, photodesk@prnewswire.com
Source: Visteon Corporation
CONTACT: Media, Jim Fisher, +1-734-710-5557, jfishe89@visteon.com; or
Investors, Derek Fiebig, +1-734-710-5800, dfiebig@visteon.com, both of Visteon
Corporation Web site: http://www.visteon.com/ NOTE TO EDITORS: Visteon news releases, photographs and product specification details are available at www.visteon.com
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Profile: automotive-news
posted by automotive-news # 9:26 AM
SPEED to Air Taupo 1000 Special
SPEED to Air Taupo 1000 SpecialPaddockTalk - Necessary, 36, had no previous off-road racing experience when he turned his daily driver FJ Cruiser into a race truck for his inaugural run in the Baja 1000. Said Necessary: “ … this isn’t just all fun and games, by any means. It’s affecting Danger Is Part of Race’s AllureNew York Times - If it’s offshore powerboat racing, or if it’s off-road racing, or owning a Nascar team, or whatever it may be. Successful businessmen love motorsports as well. “I think it’s just cool that he likes it this much and that he wants to participate Axle Fuel Energy Drink Recently LaunchedFood Ingredients First - Keeping with the popularity of energy drinks, AXLE FUEL Energy Drink www.axlefuel.com was recently launched to target the high octane motor sport and racing fans from, NASCAR, Formula One, stock cars, rally racing, sports car racing, off-road racing Bully Dog is an Official Performance Product of Championship Off Road Who Won - NEWPORT BEACH, Calif. -- Championship Off Road Racing is pleased to announce that Bully Dog Technologies, home of high quality performance products and electronics, is an Official Performance Product of Championship Off Road Racing. “Bully Dog is DOUBLE FUSION TO PROVIDE ADVERTISING TECH AND SALES SOLUTIONS FOR MCV - Project Torque is a massively-multiplayer online game that features traditional circuit racing, street racing, rally racing and off-road racing in a variety of modes including“Amateur Versus”,“Pro Versus”,“Challenger,”“Thunder Alley Laughlin: Riviera Racing summaryMotorsport.com - first race of the season slots Riviera Racing a mere fourteen points out of the lead heading to the SCORE San Felipe 250, where Mark Post has claimed the prestigious overall victory a record three times while spanning two decades of off road racing. Steve Ballard: Champ Car & NASCAR Q&AIndianapolis Star - Indianapolis Star beat reporter Steve Ballard is ready to answer your questions about the Champ Car and NASCAR. Answers to selected questions will appear each week on IndyStar.com. Send your questions by filling out the form below. Question: How does Dakar Rally Should Be Run, Nascar Driver Robby Gordon SaysBloomberg - The vehicles constructed for the race can't be used in U.S. off-road racing, although Gordon may be able to use them for Dakar next year if the race is run. The 39-year-old Californian won the sixth stage of the rally last year and took the first and U.S. racers concerned about problems in BajaSan Diego Union-Tribune - But what happened around the event has created concern for the future of the greatest, most challenging event in off-road racing. At least five people, including Olivenhain's Fred Reva, were killed in highway accidents away from the course that OFF-ROAD - Campbell To Head Off-Road Race TeamCycle News - American Honda Motor Company is pleased to announce that for 2008 its off-road racing effort will take place through the support of a new independent off-road racing team, Johnny Campbell Racing (JCR). Ten time and current Baja 1000 Overall Champion Baldwin Racing Joins Forces with Bully Dog TechnologiesWho Won - NEWPORT BEACH, Calif. -- Today, Baldwin Racing is pleased to announce that Bully Dog Technologies has joined Baldwin Racing with their sponsorship of Josh Baldwin. Baldwin drives both the #86 Championship Off Road Racing Pro 4 and #86 SCORE Trophy
posted by automotive-news # 9:15 AM
RouteOne and MenuVantage to Streamline The F&I Process
RouteOne and MenuVantage to Streamline The F&I Process FARMINGTON HILLS, Mich., Feb. 6 /PRNewswire/ -- RouteOne LLC announced today integration with MenuVantage that will allow all 22,000 RouteOne dealers nationwide free access to MenuVantage's Provider Exchange Network (PEN), which streamlines the F&I process by providing direct integration to more than 50 providers. PEN enables member dealers to reduce errors and improve Customer Satisfaction Index (CSI) ranking by electronically rating products, dynamically printing documents with electronic signatures, and electronically submitting registrations to providers, all at no cost to the dealership. Dealers can click on RouteOne's new "F&I Exchange" tab to access the MenuVantage PEN home page. Existing MenuVantage customers may log in to PEN with their ID and password, and new users may enroll through the web site. "Our integration with best in class providers such as MenuVantage promotes our open integration strategy, which is a key tenet of our dealer support model," said Mike Jurecki, RouteOne CEO. "RouteOne continues to offer dealers the solutions they need to streamline their sales processes and drive efficiencies. Now dealers can access MenuVantage's Provider Exchange Network through the RouteOne platform." Commenting on the new alliance, Phillip Battista, MenuVantage Co-CEO stated: "We are very excited to join with RouteOne to offer our network to all RouteOne dealerships at no cost. Our network gives dealers the real-time ability to integrate seamlessly with their chosen service providers all at the click of a button. It is a well-known fact that 30% of all service contracts that are registered nationally are found to have errors and our electronic processing fixes this very issue while improving overall CSI." In addition to providing access to both captive and non-captive finance sources through a single portal, RouteOne offers a wide variety of tools to assist the dealer in managing their day-to-day business, such as a detailed reporting suite, DSP integration, and credit bureau access, all within a single desktop application. RouteOne's open integration business model allows the dealer to integrate with their choice of a wide variety of best-in-class providers, including Dealer Management Systems, CRM systems, F& I modules, and menu providers. More information can be found at www.routeone.com. ABOUT ROUTEONE Established in April, 2002, RouteOne LLC is a joint venture formed by Chrysler Financial, Ford Motor Credit Company, GMAC, and Toyota Financial Services to deliver vastly improved efficiencies in the credit application process for automobile dealers, their customers and participating finance institutions. The joint venture is developing a web-based system that will enable dealers and all their finance sources, including banks and other financial institutions, to manage the credit application and consumer financing process online. More information is available at http://www.routeone.com/. ABOUT MENUVANTAGE MenuVantage, based in Orlando, Florida, provides automotive dealers with best in class F&I tools to ensure compliance and increased per unit profit. The MenuVantage system offers F&I departments the most advanced technology available on the market today to increase F&I sales. It is also capable of the electronic submission of warranty and F&I products to providers, real time service contract rating, and the electronic contracting and signature. Founded in 2003, MenuVantage has enjoyed tremendous growth and currently services more than 8,000 users at automotive dealerships in all 50 states nationwide and Canada, processing more than 100,000 deals per month. MenuVantage has developed a system that not only assists dealers in the F&I office, but also providers with contract administration making the system a truly end-to-end business solution. Over 50 providers currently enjoy the benefits of the MenuVantage platform including , Service Payment Plan (SPP), A.U.L Corporation, LOTS, Cal-Tex Protective Coatings, SouthwestRe, CNA National, EasyCare, GE, American Financial Automotive Services, and Safeguard. MenuVantage can be reached on the web at http://www.menuvantage.com/. CONTACT: Suzi Straffon
RouteOne LLC
248.862.7074
First Call Analyst:
FCMN Contact:
Source: RouteOne LLC
CONTACT: Suzi Straffon of RouteOne LLC, +1-248-862-7074 Web site: http://www.routeone.com/
http://www.menuvantage.com/
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Profile: automotive-news
posted by automotive-news # 9:12 AM
MBtech at the Hybrid Conference in California
MBtech at the Hybrid Conference in California The development service provider MBtech also offers special services and expertise to the US market for developing, integrating and testing hybrid engines. TROY, Mich., Feb. 6 /PRNewswire/ -- The US market's demand for hybrid vehicles has continuously increased in recent years. The US manufacturers are expected to launch additional hybrid models. Ever increasing numbers of external service providers are being contracted to develop, adapt and test these vehicles, which possess both a combustion engine and an electric motor. Against this background the MBtech Group, a globally active engineering and consulting company, is attending the hybrid conference in San Diego, California in the middle of February. On the 13th and 14th of February 2008 development engineers will gather in San Diego for the "Hybrid Vehicle Technologies 2008 Symposium". At this event organized by the US branch of the SAE, engineers from the automotive manufacturers located in the USA have the opportunity to obtain detailed information about issues surrounding the development of hybrid vehicles. MBtech will be present at this event with its own exhibition stand. "We want to draw attention to our competencies and experience in hybrid vehicle development and also present ourselves to all of the automobile manufacturers active in the US market as a possible partner for hybrid development," explained Wolfram Motz, Head of Marketing for the MBtech Group. MBtech offers manufacturers support with hybrid issues throughout the entire the product creation process -- from the development to the integration and adaptation as well as testing. In concrete terms this covers the development of engine control units, designing the hybrid-specific energy management and re-designing the powertrain along with adaptation applications for the chassis and peripheral equipment depending on the company strategy. In addition MBtech also provides construction and testing services for prototypes and pre-series vehicles. MBtech also performs tests for the US market at its own proving ground in Laredo, Texas.
Source: MB-technology NA LLC
CONTACT: Dr. Knut Konzelmann, President of MB-technology NA LLC,
+1-248-312-0277, or Fax: +1-248-312-0279 Web site: http://www.daimler.com/
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Profile: automotive-news
posted by automotive-news # 8:58 AM
John McCain on Alternative Fuels, Global Warming & Nuclear Energy
John McCain on Alternative Fuels, Global Warming & Nuclear Energy Exclusive Video Coverage of John McCain's Position on Top Environmental Issues LOUISVILLE, Ky., Feb. 6 /PRNewswire-USNewswire/ -- TACH AUTO CENTRAL -- Before Senator John McCain formally announced his intention to run for the office of President of the United States, he gave a keynote speech at the Clean Air Conference in which he set forth his position on some of the most important issues facing America and the world. McCain's frank, straight- forward comments are especially insightful and revealing considering his status as the Republican Party's front-running candidate. The Auto Channel is making the entire video of the speech publicly available for the first time, anywhere. Beginning Wednesday morning, February 6th, at 6AM EST, the video can be watched on TheAutoChannel.com (http://theautochannel.com/). Senator McCain's 25-minute speech covers the use of ethanol and electric- powered vehicles, America's need to get out from under the thumb of "foreign- oil," environmental dangers such as global warming and the case for why nuclear energy power generation is a must. Several of McCain's positions are in stark contrast to those expressed by the current Bush Administration. To watch the complete video visit http://www.theautochannel.com/. As with all content on The Auto Channel, access to this video is completely FREE. ABOUT THE AUTO CHANNEL The Auto Channel is the Internet's most complete and comprehensive automotive information resource. TheAutoChannel.com (http://theautochannel.com/) features one million pages of content that includes thousands of new vehicle reviews, the largest auto-related video library, more than one dozen searchable databases, complete new & used vehicle pricing and statistics, news, motor sports, and Press Pass Coverage of all major auto shows. The Auto Channel, TACH, and Press Pass Coverage are trademarks owned by The Auto Channel, LLC, all rights reserved. For additional information contact Paula Petty at 502-992-0200 or info@theautochannel.com This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.
First Call Analyst:
FCMN Contact:
Source: The Auto Channel
CONTACT: Paula Petty of The Auto Channel, +1-502-992-0200,
info@theautochannel.com Web site: http://theautochannel.com/
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Profile: automotive-news
posted by automotive-news # 8:56 AM
World's Longest Transoceanic Bridge Coated With Huntsman Hardener
World's Longest Transoceanic Bridge Coated With Huntsman Hardener Sprayable, High-Adhesion Primer and Mid-Coat on China's Hangzhou Bay Bridge Cures Rapidly In Seawater THE WOODLANDS, Tex., Feb. 6 /PRNewswire-FirstCall/ -- Huntsman Corporation (NYSE:HUN) today announced that its Aradur(R) 450 hardener has been selected for use in another of the world's most challenging coatings applications: to coat the concrete piers on the longest transoceanic bridge in the world. To coat the bridge, which crosses Hangzhou Bay, lying between Shanghai and Ningbo, China, contractors required a sprayable material that could cure rapidly under salt water and provide long-term protection to the sub-sea structures for the 36km wide, six-lane structure. Designed for a service life of 100 years, the bridge was built to withstand exposure to strong multi-directional tidal currents moving at speeds of up to 30 km (18 miles) per hour, waves up to 8 meters (26 feet) in height, typhoons, and earthquakes measuring up to seven on the Richter scale. When it opens to the public in June 2008, the ocean-crossing Hangzhou Bay Bridge will accommodate up to 50,000 vehicles each day, traveling at up to 100km/hour. The new roadway will cut travel time between Shanghai and Ningbo in half, from four hours to two. Engineers who specified the pier coating materials selected Aradur(R) 450 hardener from Huntsman Advanced Materials for this demanding bridge project after testing a number of different products. The Aradur(R) hardener, combined with a Huntsman accelerator, satisfied the stringent reliability requirements for the concrete piers, which are installed in difficult sub-surface sea-bed soils. The Huntsman hardener has a fast dust dry speed to meet on-schedule project completion, yet still provides outstanding adhesion to wet concrete pier surfaces and cures under sea water. "We are proud to be part of this outstanding engineering project," said Andre Genton, VP Global Operating Officer, Huntsman Advanced Materials, "and to be working in close partnership with the Hangzhou Bay Bridge Project Team. At Huntsman, we are known for our pioneering, innovative specialty materials, and working on the Hangzhou Bridge project has allowed us once more to show how our solutions-providing approach can meet even the toughest engineering and environmental challenges. We look forward to seeing the bridge in full operation later this year." About Huntsman: Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 13,000 employees and operates from multiple locations worldwide. The Company had 2006 revenues of over $13 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com. Forward Looking Statements: Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. In addition, the completion of any transactions described in this release is subject to a number of uncertainties and closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company's expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws. First Call Analyst:
FCMN Contact:
Source: Huntsman Corporation
CONTACT: Media, Guy Wolff, +41-61-966-4146, or Investor Relations, John
Heskett, +1-801-584-5768, both for Huntsman Corporation Web site: http://www.huntsman.com/ NOTE TO EDITORS: For press pictures only please contact: Gill Houghton|Kate Hogg, Tel +44 1908 306 500, Fax +44 1908 306 505, Email: press@tregartha-dinnie.co.uk, Tregartha Dinnie Ltd., Chancery House 199 Silbury Boulevard, Central Milton Keynes, MK9 1JL, England -------
Profile: automotive-news
posted by automotive-news # 8:45 AM
AutoRevenue to Integrate with AutoAlert
AutoRevenue to Integrate with AutoAlert Combined product will effortlessly earn dealerships more money LEE, Mass., Feb. 6 /PRNewswire/ -- @utoRevenue(TM), the automotive industry's leading multi-channel communications company and a division of Dominion Enterprises, and AutoAlert(TM), an automotive sales and marketing company, announced today that the two are integrating their products to offer automobile dealers a seamless way of alerting their customers about rebates or special financing. "By combining our two products, we can take information from a dealership's customer records and send their customers alerts -- by email, voice message and direct mail -- about newly available rebates or special financing," said John M. Miller, general manager of @utoRevenue. "The number one goal of @utoRevenue is to protect client data. @utoRevenue(TM) has implemented a number of policies that are used to safeguard customer data in accordance with the Graham-Leach-Bliley (GLB) Act. This policy, as with the policies it references, is intended to be an evolving document that encompasses @utoRevenue's entire data management infrastructure. It recognizes the possible risks and the corresponding safeguard actions taken to either eliminate or minimize the risks," said Miller. "This integration means that all customers eligible for newly available financing will have their financial information on their vehicles recalculated, and will be notified of the opportunity to get into brand new vehicles, for less or close to the same price as they are currently paying," explained Boyd H. Warner, president and CEO of AutoAlert. @utoRevenue's email, voice messaging and direct mail messaging products also can legally protect the dealership by communicating prepared messages that are compliant with existing laws. Available for the first time Feb. 9 at the NADA Convention in San Francisco, the @utoRevenue/AutoAlert combined product, called appropriately @utoAlert, is designed to drive the perfect customer into a dealership. "Early termination lease and finance customers mean better trades and solid profits," Miller said. "Now, instead of hoping your sales team will contact each customer about new financing opportunities, @utoRevenue and AutoAlert can drive the traffic through dealership doors by hitting the customer in three different mediums in a short period of time with the proper information, causing the customer to take the initiative to 'Come on Down,'" said Miller. @utoRevenue and AutoAlert's products work perfectly together, according to Jeff Cotton, AutoAlert's Executive Vice President, Director of Sales: "John Miller and I have known each other for almost 20 years, and never have we found two products that work so well together." The General Manager of the nation's largest Mercedes-Benz dealership, Garth Blumenthal, agrees. "In November, using AutoAlert combined with @utoRevenue's services, we generated over 40 new car sales and took in 40 early lease returns," he said. "Not only did we average $3,000 per car, we brought in better pre-owned inventory than we could get anywhere." About @utoRevenue: (http://www.autorevenue.com/) @utoRevenue(TM), a division of Dominion Enterprises, is based in Lee, Mass. Founder and General Manager John M. Miller has over 24 years experience in the auto industry as an executive for COIN Financial Systems, Ultimate Prospecting Systems, Reynolds and Reynolds and KeyTrak. @utoRevenue offers a complete line of marketing services including email, email collection, direct mail, voice messaging, e- newsletters, and online real time appointment scheduling. @utoRevenue products include @utoEmail(TM), @utoMatch(TM), @utoDirect(TM), @utoVoice(TM), @utoEnews(TM), and @utoScheduler(TM). About Dominion Enterprises: Dominion Enterprises, Norfolk, Va., is a leading marketing services company serving employment, automotive, real estate, marine, recreation and industrial markets. The company has more than 500 magazine titles, over 40 market-leading Web sites, and operates a variety of Web and technology businesses. The company has annualized revenue of more than $946 million and has more than 6,000 employees nationwide. For more information, visit http://www.dominionenterprises.com/. For more information, contact Katrina Slosek, katrina@autorevenue.com, 866.628.6245. This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/.
First Call Analyst:
FCMN Contact:
Source: @utoRevenue
CONTACT: Katrina Slosek of @utoRevenue, +1-866-628-6245,
katrina@autorevenue.com Web site: http://www.autorevenue.com/
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Profile: automotive-news
posted by automotive-news # 8:30 AM
VP Gables, LLC Takes Legal Action Against the Cobalt Group, Inc.
VP Gables, LLC Takes Legal Action Against the Cobalt Group, Inc. CORAL GABLES, Fla., Feb. 6 /PRNewswire/ -- VP Gables, LLC (formerly known as VinPlus, LLC), a previous provider of data management solutions, today announced that it has filed a complaint against The Cobalt Group, Inc., a provider of automotive marketing services headquartered in Seattle, Washington. VP Gables is seeking damages from Cobalt based on allegations that Cobalt violated obligations to VP Gables under the terms of a non- disclosure agreement, and made wrongful use of VP Gables' propriety information. Specific counts against Cobalt include: breach of contract; the misappropriation of VP Gables' trade secrets in violation of the Florida Uniform Trade Secrets Act; tortious interference with business relations; and violation of the Florida Deceptive and Unfair Trade Practices Act. The complaint was filed in the United States District Court in the Southern District of Florida. About VP Gables, LLC Headquartered in Coral Gables, FL, VP Gables, LLC (f/k/a VinPlus, LLC) was a provider of data management solutions and services to the automotive sector including OEMs; Dealers; and other companies in the automotive retail and supply chain. Its state-of-the-art platform DataWare(TM) extracted data from the dealers' management systems and distributed that data in a consistent and secure manner to its clients. VP Gables LLC sold all of its assets, including DataWare(TM), in May 2007 to the Netlink Software Group headquartered in Southfield, MI. First Call Analyst:
FCMN Contact:
Source: VP Gables, LLC
CONTACT: Christy Cartaya of VP Gables, LLC, +1-305-662-7152 ext 104
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Profile: automotive-news
posted by automotive-news # 8:21 AM
Republic Creates Cold-Finished Bar Products Division; Names Mike Eberth General Manager
Republic Creates Cold-Finished Bar Products Division; Names Mike Eberth General Manager Republic's vision is to expand value-added processing capabilities and services. FAIRLAWN, Ohio, Feb. 6 /PRNewswire/ -- Republic Engineered Products, Inc., North America's largest producer of special bar quality (SBQ) steel, today announced the creation of its new Cold-Finished Bar Products Division. The company named Michael Eberth as the division's general manager. Eberth will oversee Republic's cold-finished bar operations and sales of cold- finished bar products. "While we have always had the capability and capacity to manufacture cold- finished bar products, we saw a significant opportunity for additional growth in this product line," said Jaime Vigil, Republic's president and chief executive officer. "The creation of our new Cold-Finished Bar Products Division and the hiring of Mike Eberth to head the division are two very important steps toward our goal of becoming the preferred partner for companies seeking cold-finished bar products." Republic manufactures cold-finished bar at its Gary, Ind.; Hamilton, Ont.; and Massillon, Ohio, operations, which together now make up the new division. Republic's cold-finished bar is shipped primarily to the steel distribution, automotive, off-highway and aircraft industries. Republic manufactures cold-finished carbon and alloy bar products in rounds (0.25" to 6"), hexagons (0.25" to 3"); squares (0.25" to 3.5") and flats (0.25" to 4" thickness and 1" to 6" width). The company also offers cold-finished bar in a variety of special finishes, grades and qualities, and performs various thermal treatments and other value-added processes to the product. "Mike will work closely with Republic's executive staff to establish clear direction for this business unit," Vigil said. "He will assess new opportunities in this market as well as current and future capabilities and equipment needs. I have complete confidence that we have the product expertise and people necessary to make our new Cold-Finished Bar Division a tremendous success." Eberth has an extensive previous history with Republic and understands the company's processes and its customers. He started his career with LTV Steel as a sales representative in Detroit. He then led account development for LTV's Bar Division in Philadelphia, which ultimately became part of Republic. In 1990, Eberth moved back to Detroit, where he worked with key customers in the automotive industry as well as larger screw machine shops and automotive transplants. He was later promoted to district sales manager for Republic's Specialty Steels Division in Chicago. In 1998, Eberth transitioned to Republic Technologies International as a regional manager for cold-finished bars. After leaving Republic in 2005, he joined Outokumpu Stainless Bar as commercial manager, where he continued to serve many of Republic's top cold-finished customers. Eberth rejoined Republic in January 2008. Republic Engineered Products, Inc., is North America's leading supplier of special bar quality (SBQ) steel, a highly engineered product used in axles, drive trains, suspensions and other critical components of automobiles, off- highway vehicles and industrial equipment. With headquarters in Fairlawn, Ohio, the company operates steelmaking centers in Canton and Lorain, Ohio, and value-added rolling and finishing facilities in Canton, Lorain and Massillon, Ohio; Lackawanna, N.Y.; Gary, Ind.; and Hamilton, Ontario. Republic employs approximately 2,500 people. First Call Analyst:
FCMN Contact:
Source: Republic Engineered Products, Inc.
CONTACT: Ken Braun of Republic Engineered Products, Inc.,
+1-330-670-3007, kbraun@republicengineered.com; or Jim Cyphert of Innis
Maggiore, +1-330-702-0490, jim@innismaggiore.com, for Republic Engineered
Products, Inc.
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Profile: automotive-news
posted by automotive-news # 8:08 AM
Johnson Controls Announces Webcast of Automotive Analyst Conference Presentation
Johnson Controls Announces Webcast of Automotive Analyst Conference Presentation MILWAUKEE, Feb. 6 /PRNewswire/ -- Johnson Controls will webcast its management presentation at the Lehman Brothers Industrial Select Conference in Miami, Florida on Wednesday, February 13, 2008. The webcast begins at 2:45 p.m. Eastern time. (Logo: http://www.newscom.com/cgi-bin/prnh/20070930/AQSU001LOGO) To access the listen-only audio webcast, visit the Johnson Controls Web site at http://www.johnsoncontrols.com/ and click on the webcast link. A replay of the webcast will be available on the Johnson Controls Web site for 90 days following the conference. Johnson Controls (NYSE:JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/.
First Call Analyst:
FCMN Contact:
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070930/AQSU001LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Johnson Controls
CONTACT: Glen Ponczak of Johnson Controls, +1-414-524-2375 Web site: http://www.johnsoncontrols.com/ Company News On-Call: http://www.prnewswire.com/comp/473547.html
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Profile: automotive-news
posted by automotive-news # 8:06 AM
Solera Holdings, Inc. Reports Second Quarter Fiscal Year 2008 Results
Solera Holdings, Inc. Reports Second Quarter Fiscal Year 2008 Results Second Quarter Revenue of $132.1 Million, up 13.6%; Second Quarter EPS of $0.17, up $0.73; Company Raising Guidance SAN DIEGO, Feb. 6 /PRNewswire-FirstCall/ -- Solera Holdings, Inc. (NYSE:SLH), the leading global provider of software and services for the automobile insurance claims processing industry, today reported results for the second quarter of fiscal year 2008, the three months ended December 31, 2007. Results for Second Quarter Fiscal Year 2008: GAAP Results -- Revenue for the second quarter ended December 31, 2007 was $132.1
million, a 13.6% increase over the prior year second quarter revenue
of $116.2 million;
-- GAAP net income allocable to common stockholders for the second
quarter ended December 31, 2007 was $11.0 million, a $27.3 million
improvement over the prior year second quarter net loss allocable to
common stockholders of $16.3 million;
-- GAAP diluted net income per share for the second quarter ended
December 31, 2007 was $0.17, a $0.73 per share improvement over the
prior year second quarter diluted net loss per share of $0.56.
Non-GAAP Results
-- Adjusted EBITDA for the second quarter ended December 31, 2007 was
$45.1 million, a 30.9% increase over the prior year second quarter
Adjusted EBITDA of $34.4 million;
-- Adjusted Net Income for the second quarter ended December 31, 2007
was $18.7 million, a 184.1% increase over the prior year second
quarter Adjusted Net Income of $6.6 million;
-- Adjusted Net Income per diluted share (or cash earnings per diluted
share) for the second quarter ended December 31, 2007 was $0.29, a
28.4% increase over the prior year second quarter Adjusted Net
Income per diluted share of $0.23.
"Our strong second quarter results were driven by our continued focus on delivering value to our customers," said Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. "We continued to make substantial investments in product development, customer support and sales and marketing, while also improving operating efficiencies. Additionally, we continued our expansion efforts outside the United States, with over 70% of our revenues during the second quarter coming from outside the United States."
Business Statistics
-- EMEA revenue for the second quarter of fiscal year 2008 was $80.9
million, an 18.0% increase over the second quarter of fiscal year 2007
revenue of $68.5 million;
-- Americas revenue for the second quarter of fiscal year 2008 was $51.2
million, a 7.4% increase over the second quarter of fiscal year 2007
revenue of $47.7 million;
-- Revenue from insurance company customers for the second quarter of
fiscal year 2008 was $54.0 million, a 13.0% increase over the $47.8
million in revenue from insurance company customers in the second
quarter of fiscal year 2007;
-- Revenue from collision repair facility customers for the second quarter
of fiscal year 2008 was $49.9 million, a 17.7% increase over the $42.3
million in revenue from collision repair facility customers in the
second quarter of fiscal year 2007;
-- Revenue from independent assessor customers for the second quarter of
fiscal year 2008 was $13.9 million, a 17.0% increase over the $11.9
million in revenue from independent assessor customers in the second
quarter of fiscal year 2007;
-- Revenue from automotive recycling and other customers for the second
quarter of fiscal year 2008 was $14.3 million, a 0.9% increase over the
$14.2 million in revenue from automotive recycling and other customers
in the second quarter of fiscal year 2007.
Outlook
Based upon the second quarter results for the period ended December 31, 2007 outlined above -- we are updating our previously released outlook for our full fiscal year ending June 30, 2008 as follows:
Previous FY08 Outlook Updated FY08 Outlook
Revenues $505 -- $510 million $515 -- $520 million
Net Income $10 -- $15 million $15 -- $20 million
Adjusted Net Income $65 -- $70 million $68 -- $72 million
Adjusted EBITDA $158 -- $162 million $166 -- $170 million The FY08 outlook above assumes constant exchange rates from those currently prevailing and no acquisitions. Earnings Conference Call We will host our second quarter fiscal year 2008 earnings call today at 8:30 a.m. (Eastern Time) -- February 6, 2008. The conference call will be webcast live on the Internet and can be accessed by visiting: www.solerainc.com. A replay will be available on the Solera website until midnight on February 20, 2008. A live audio broadcast of the call will be accessible to the public by calling (888) 713-4213 or for international callers, (617) 213-4865; please enter the following access code when prompted: 23589567. Callers should dial in approximately ten minutes before the call begins. SOLERA HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE QUARTERS ENDED DECEMBER 31, 2007 AND 2006
AND FOR THE SIX MONTHS ENDED DECEMBER 31, 2007 AND 2006
(In thousands, except per share/unit amounts)
(Unaudited) Quarter Ended Six Months Ended
December 31, December 31,
2007 2006 2007 2006 Revenues $132,089 $116,237 $256,271 $227,719 Cost of revenues:
Operating expenses 32,987 34,824 65,327 67,534
Systems development and
programming costs 16,577 15,757 32,550 31,933
Total cost of revenues (excluding
depreciation and amortization) 49,564 50,581 97,877 99,467 Selling, general and
administrative expenses 37,525 32,976 71,067 63,866
Depreciation and amortization 23,447 25,879 45,853 51,055
Restructuring charges 43 (21) 1,666 874
Interest expense 11,721 18,559 22,882 36,416
Other (income) expense - net (4,610) (2,077) (5,765) 2,263
68,126 75,316 135,703 154,474
Income (loss) before provision for
income taxes and minority interests 14,399 (9,660) 22,691 (26,222)
Income tax provision 2,065 1,875 4,942 2,118
Minority interest in net income
of consolidated subsidiaries 1,325 442 2,886 1,527
Net income (loss) 11,009 (11,977) 14,863 (29,867)
Dividends and redeemable
preferred unit accretion - 4,276 - 8,467
Net income (loss) allocable to
common stockholders/unitholders $11,009 $(16,253) $14,863 $(38,334)
Net income (loss) allocable to
common stockholders/unitholders
per share/unit:
Basic $0.17 $(0.56) $0.24 $(1.32)
Diluted $0.17 $(0.56) $0.23 $(1.32)
Weighted average shares/units used
in the calculation of net income
(loss) per share/unit allocable to
common stockholders/unitholders:
Basic 63,468 29,172 63,145 29,105
Diluted 64,551 29,172 64,497 29,105 Non-GAAP Financial Measures
We use a number of non-GAAP financial measures that are not intended to be used in lieu of GAAP presentations, but are provided because management believes that they provide additional information with respect to the performance of our fundamental business activities and are also frequently used by securities analysts, investors and other interested parties to facilitate the evaluation of our business on a comparable basis to other companies. The three primary non-GAAP financial measures that we use are Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share. We believe that Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per diluted share are useful to investors in providing information regarding our operating results and our continuing operations. We rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our Company and our management team in connection with our executive compensation and bonus plans. Adjusted EBITDA also allows us to compare our current operating results with corresponding prior periods as well as to the operating results of other companies in our industry. We present Adjusted Net Income and Adjusted Net Income per diluted share because we believe both of these measures provide useful information regarding our operating results in addition to our GAAP measures. We believe that Adjusted Net Income and Adjusted Net Income per diluted share provide investors with valuable insight into our profitability exclusive of unusual adjustments, and provide further insight into the cash impact resulting from the different treatments of goodwill for financial reporting and tax purposes.
Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per diluted share have limitations as analytical tools, and you should not consider them in isolation or as a substitute for net income, earnings per share and other consolidated income statement data prepared in accordance with accounting principles generally accepted in the United States. Because of these limitations, Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share should not be considered as a replacement for net income. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share as supplemental information. -- Adjusted EBITDA is a non-GAAP financial measure that represents GAAP
net earnings (loss) allocable to common stockholders/unitholders,
excluding interest, taxes, depreciation and amortization, stock-based
compensation, restructuring charges, other (income) expense - net, and
acquisition-related costs. Acquisition-related costs consist of
transaction costs, retention-related compensation costs, legal and
professional fees, severance costs and other transition costs
associated with our acquisition of the Claims Services Group from ADP
in April 2006. A reconciliation of our Adjusted EBITDA to GAAP net
earnings (loss) allocable to common stockholders/unitholders, the most
directly comparable GAAP measure, is provided in the attached table. Three Months Ended Six Months Ended
December 31, December 31,
2007 2006 2007 2006
Reconciliation to Adjusted EBITDA
Net earnings (loss) $11,009 $(11,977) $14,863 $(29,867)
Add: Income tax provision 2,065 1,875 4,942 2,118
Net earnings (loss) before income
tax 13,074 (10,102) 19,805 (27,749)
Add: Depreciation and amortization 23,447 25,879 45,853 51,055
Add: Interest expense 11,721 18,559 22,882 36,416
Add: Stock-based compensation
expense 1,039 153 1,641 344
Add: Restructuring charges 43 (21) 1,666 874
Add: Other (income) expense - net (4,610) (2,077) (5,765) 2,263
Add: Acquisition related costs 339 2,026 390 2,913
Adjusted EBITDA $45,053 $34,417 $86,472 $66,116 -- Adjusted Net Income is a non-GAAP financial measure that represents
GAAP net earnings (loss) allocable to common stockholders/unitholders,
plus the following items: provision for income taxes, amortization of
acquisition-related intangibles, stock-based compensation expense,
restructuring charges, other (income) expense -- net, and acquisition-
related costs. Acquisition-related costs consist of transaction costs,
retention-related compensation costs, legal and professional fees,
severance costs and other transition costs associated with our
acquisition of the Claims Services Group from ADP in April 2006. From
this figure, we then subtract a provision for income taxes at a rate of
33% to arrive at Adjusted Net Income. We use a tax rate of 33% in
order to approximate our long-term effective corporate tax rate, which
includes certain benefits from net operating loss carryforwards,
deductible goodwill and intangibles amortization for tax purposes. A
reconciliation of our Adjusted Net Income to GAAP net earnings (loss)
allocable to common stockholders/unitholders, the most directly
comparable GAAP measure, is provided in the attached table. -- Adjusted Net Income per diluted share (or cash earnings per diluted
share) is a non-GAAP financial measure that represents Adjusted Net
Income (as defined above) divided by the number of diluted shares
outstanding for the period. A reconciliation of our Adjusted Net
Income per diluted share (or cash earnings per diluted share) to GAAP
net earnings (loss) per share, the most directly comparable GAAP
measure, is provided in the attached table. Three Months Ended Six Months Ended
December 31, December 31,
2007 2006 2007 2006
Reconciliation to Adjusted
Net Income
Net earnings (loss) $11,009 $(11,977) $14,863 $(29,867)
Add: Income tax provision 2,065 1,875 4,942 2,118
Net earnings (loss) before
income tax 13,074 (10,102) 19,805 (27,749)
Add: Amortization of acquisition
related intangibles 17,973 19,827 35,285 39,614
Add: Stock-based compensation
expense 1,039 153 1,641 344
Add: Restructuring charges 43 (21) 1,666 874
Add: Other (income) expense - net (4,610) (2,077) (5,765) 2,263
Add: Acquisition related costs 339 2,026 390 2,913
Adjusted earnings (loss) before
income tax provision 27,858 9,806 53,022 18,259
Less: Assumed provision for
income taxes at 33% rate (9,193) (3,236) (17,497) (6,025)
Adjusted net income $18,665 $6,570 $35,525 $12,234 Adjusted net income per
share/unit
Basic $0.29 $0.23 $0.56 $0.42
Diluted $0.29 $0.23 $0.55 $0.42 Weighted average shares/units
used in the calculation of
adjusted net income per
share/unit
Basic 63,468 29,172 63,145 29,105
Diluted 64,551 29,172 64,497 29,105 SOLERA HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2007 AND JUNE 30, 2007
(In thousands, except share/unit amounts)
(Unaudited) December 31, June 30,
2007 2007 Assets
Current Assets:
Cash and cash equivalents $107,800 $89,868
Accounts receivable, net 80,872 85,543
Other receivables 10,394 9,297
Other current assets 13,693 16,901
Deferred income tax assets 3,329 3,248
Total current assets 216,088 204,857 Property and equipment, net 51,109 51,485
Other Assets 15,098 11,625
Long-term deferred income tax assets 23,711 23,835
Goodwill 614,339 569,165
Intangible assets, net 348,183 362,986
Total assets $1,268,528 $1,223,953 Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable $18,799 $25,571
Accrued expenses and other current
liabilities 81,965 89,240
Income taxes payable 7,727 13,995
Deferred income tax liabilities 743 1,076
Current portion of long-term debt 6,416 14,140
Total current liabilities 115,650 144,022 Long-term debt 619,674 599,128
Other liabilities 37,046 25,378
Long-term deferred income tax
liabilities 41,877 42,922
Total liabilities $814,247 $811,450 Minority interests in consolidated
subsidiaries 12,897 11,229 Stockholders' equity:
Common Shares, $0.01 par value,
150,000,000 units authorized;
64,732,323 and 64,813,563 issued and
outstanding, as of September 30,
2007 and June 30, 2007, respectively 507,588 505,939
Accumulated deficit (95,892) (111,687)
Accumulated other comprehensive
income 29,688 7,022
Total stockholders' equity 441,384 401,274
Total liabilities and stockholders'
equity $1,268,528 $1,223,953 SOLERA HOLDINGS, INC. AND SUBSIDIARIES
SELECTED STATEMENT OF CASH FLOWS INFORMATION
FOR THE SIX MONTHS ENDED DECEMBER 31, 2007 and 2006
(In thousands)
(Unaudited) Six Months Ended December 31,
2007 2006
Net cash provided by operating activities $47,945 $22,003
Net cash (used) in investing activities (10,118) (29,689)
Net cash (used) provided in financing
activities (24,791) 4,579
Effect of exchange rate changes 4,896 1,268
Net change in cash and cash equivalents 17,932 (1,839)
Cash and cash equivalents, beginning of
period 89,868 88,826 Cash and cash equivalents, end of period $107,800 $86,987 Supplemental Cash Flow Information:
Cash paid for interest $21,912 $27,639
Supplemental Disclosure of Non-cash
Investing and Finance Activities:
Capital assets financed $2,812 $6,926 Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about business outlook for fiscal year 2008, our business strategy, and statements about historical results or performance that may suggest trends for our business. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our reliance on a limited number of customers for a substantial portion of our revenues; unpredictability and volatility of our operating results, which includes the volatility associated with foreign currency exchange risks; effects of competition on our software and service pricing and our business; effects of changes in or violations by us or our customers of government regulations; time and expenses associated with customers switching from competitive software and services to our software and services; rapid technology changes in our industry; costs and possible future losses or impairments relating to our 2006 acquisition of the Claims Services Group from Automatic Data Processing, Inc.; our reliance on third-party information for our software and services; effects of system failures or security breaches on our business and reputation; country-specific risks associated with operating in multiple countries; risks associated with any future acquisitions, joint ventures or similar transactions; our ability to obtain additional financing as necessary to support our operations; use of cash to service our debt; effects on our business of restrictive covenants in our debt facility; and any material adverse impact of current or future litigation on our results or business. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Annual Report on Form 10-K for the Year Ended June 30, 2007 filed with the Securities and Exchange Commission on September 17, 2007. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
About Solera Solera is the leading global provider of software and services for the automobile insurance claims processing industry. Solera is active in 51 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, Sidexa in France, ABZ in the Netherlands, Hollander serving the North American recycling market, and IMS providing medical review services. For more information, please refer to the Company's website at www.solerainc.com. Contacts:
Investor Relations
Kamal Hamid
Solera Holdings, Inc.
858-946-1676
kamal.hamid@audatex.com Media Relations
Kendra DeWitt
Solera Holdings, Inc.
858-946-1453
kendra.dewitt@audatex.com First Call Analyst:
FCMN Contact:
Source: Solera Holdings, Inc.
CONTACT: Investor Relations: Kamal Hamid, +1-858-946-1676,
kamal.hamid@audatex.com, or Media Relations: Kendra DeWitt, +1-858-946-1453,
kendra.dewitt@audatex.com, both of Solera Holdings, Inc. Web site: http://www.solerainc.com/
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Profile: automotive-news
posted by automotive-news # 7:13 AM
Daimler Financial Services Americas Teams with Liberty Mutual to Offer Comprehensive Insurance Coverage to Drivers of the Brand New smart fortwo
Daimler Financial Services Americas Teams with Liberty Mutual to Offer Comprehensive Insurance Coverage to Drivers of the Brand New smart fortwo FARMINGTON HILLS, Mich., Feb. 6 /PRNewswire/ -- Daimler Financial Services Americas is supporting the retail sales launch of the smart fortwo in the United States with a comprehensive package of finance and insurance products for consumers and dealers. (Photo: http://www.newscom.com/cgi-bin/prnh/20080206/CLW027 ) Daimler Financial is providing inventory financing for smart USA Distributor LLC, wholesale financing for dealer inventories, retail financing for smart fortwo owners and has teamed up with Liberty Mutual Insurance Company to create a smart USA-branded retail insurance program that is licensed in all 50 states. "Our Daimler Insurance team, working with Liberty Mutual, has created a personal auto insurance plan for smart fortwo drivers that can save customers hundreds of dollars a year on their car insurance," said Klaus Entenmann, President and CEO of Daimler Financial Services Americas. "Our retail and insurance packages offered by smart center dealers will allow smart fortwo owners to take advantage of one-stop shopping to quickly get rolling in this amazing vehicle." The highlights of this personal auto insurance plan for smart fortwo drivers is called: "Insurance foryou" and features: -- 12-month guaranteed rate
-- Genuine smart fortwo replacement parts
-- New vehicle replacement coverage in the first year of ownership and
within 15,000 miles
-- 24-hour roadside assistance anywhere in the U.S. and Canada
-- towing to your nearest smart dealer or qualified repair facility
-- 24-hour claims service, seven days a week
"smart USA is excited to partner with two fantastic companies who pride themselves on outstanding customer service. Both Daimler Financial Services and Liberty Mutual have a long history of success in the United States," said David Schembri, President, smart USA.
This consumer car insurance program is innovative in the captive financing market as all customer touch points are being used to promote the program including Finance & Insurance Manager referral, website enrollment, finance billing inserts, and cross-selling by Liberty Mutual field agents and call center agents. "Our research has shown that well-known major insurers may not have been fully prepared to quote on a brand new vehicle that is creating a brand new segment in the U.S. market," said Anamika Singhal, General Manager, Daimler Insurance Americas. "With Liberty Mutual as a partner on Insurance foryou, the program enables smart fortwo owners to obtain a highly competitive quote along with a special discount which helps get vehicles on the road, especially for those thousands of customers who made advanced reservations on the purchase of the smart fortwo months ago." About Daimler Financial Services Americas (DCFS USA LLC) Daimler Financial Services Americas (DCFS USA LLC) provides brand-specific financing for Mercedes-Benz automotive dealers' inventories and their retail customers, and conducts business in the United States luxury car market as Mercedes-Benz Financial. In the U.S. trucking industry, Daimler Financial Services Americas conducts business as Daimler Truck Financial and finances Daimler commercial vehicle products such as Freightliner, Sterling and Western Star for dealers and their customers in the fleet, vocational, municipal and owner/operator segments. Daimler Financial Services Americas serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,600 employees. Daimler Financial Services Americas is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which operates in nearly 40 countries with an employee base of close to 6,800. Daimler Financial Services is one of the leading financial services organizations worldwide. For more information about Daimler Financial Services Americas, visit www.daimler-financialservices.com/na About smart USA and smart fortwo smart USA Distributor LLC, headquartered in Bloomfield Hills, Michigan, is the exclusive distributor of the smart fortwo(R) in the United States and Puerto Rico and is a wholly-owned subsidiary of Penske Automotive Group, Inc. The smart fortwo is manufactured by Mercedes-Benz Cars and is a Daimler brand. This technologically advanced vehicle achieves 40 plus mpg on the highway and is an ultra-low emissions vehicle, as certified by the State of California Air Resources Board. The vehicle is 8.8 feet long, 5.1 feet tall and 5.1 feet wide and comes equipped with many functional and safety features found in most luxury models. smart is currently sold in 36 other countries, and more than 850,000 smart fortwos have been sold since 1998. For more information about smart USA or the smart fortwo, visit www.smartusa.com.
Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20080206/CLW027
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Daimler Financial Services Americas
CONTACT: Jack Ferry of Daimler Financial Services Americas, Office
+1-248-991-6610, Cell +1-248-761-3233, john.r.ferry@daimler.com; or Ken
Kettenbeil of smart USA Distributor LLC, Office +1-248-648-2582,
kkettenbeil@smartusa.com Web site: http://www.daimlerchryslerfinancialservices.com/na
http://www.smartusa.com/
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Profile: automotive-news
posted by automotive-news # 7:08 AM
Garmin Delivers Navigation for Ford Commercial Vehicles
Garmin Delivers Navigation for Ford Commercial Vehicles OLATHE, Kan., Feb. 6 /PRNewswire-FirstCall/ -- Garmin International Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), today announced that its navigation technology will be available in Ford's new 2009 F-150, F-Series Super Duty pickups, and commercial E-Series vans, designed to make business owners more productive and successful. The relationship was announced today at the 2008 Chicago Auto Show. (Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO) Garmin will provide the navigation component for Ford Work Solutions, a collection of affordable technologies -- including four industry-first features -- that will provide Ford customers connectivity, flexibility and security to better run key aspects of their business -- from their Ford Truck, even on the job site. Garmin's navigation offers the same easy-to-use "Where to?" and "View map" touchscreen interface found on its traditional navigation devices. Users can quickly search and route to addresses or nearly six million points of interest like restaurants, hotels, attractions, gas stations and more -- and then receive turn-by-turn, voice-prompted directions to their destination. If drivers miss a turn, the system automatically recalculates the route. An integrated in-dash computer provides full high-speed internet access, which enables users to access powerful Garmin Online services. This real-time internet data service offers time-saving information like traffic conditions, weather, and nearby fuel prices. Garmin also provides a customized database of Ford dealerships and Quick Lane Tire & Auto Centers. The in-dash computer system also allows users to print invoices, check inventories and access documents stored on their home or office computer networks -- right on the job site. Ford Work Solutions will be available this fall on the 2009 F-150, F-Series Super Duty pickups, and E-Series vans. Transit Connect vans join Ford truck's commercial vehicle lineup with this technology in mid-2009. About Garmin Garmin International, Inc. is a member of the Garmin Ltd. (NASDAQ:GRMN) group of companies which designs, manufactures, markets, and sells navigation, communication and information devices and applications -- most of which are enabled by GPS technology. Garmin is a leader in consumer and general aviation navigation and its products serve the automotive/mobile, outdoor/fitness, marine, and aviation markets. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved. Notice on forward-looking statements: This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company's future product introductions are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2006 filed by Garmin with the Securities and Exchange Commission (Commission file number 000-31983). A copy of Garmin's Form 10-K can be downloaded at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. First Call Analyst:
FCMN Contact: ted.gartner@garmin.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Garmin Ltd.
CONTACT: Ted Gartner of Garmin International Inc., +1-913-397-8200,
media.relations@garmin.com Web site: http://www.garmin.com/
-------
Profile: automotive-news
posted by automotive-news # 7:07 AM
Monaco Coach Corporation Reports Fourth Quarter and 2007 Fiscal Year-End Profits
Monaco Coach Corporation Reports Fourth Quarter and 2007 Fiscal Year-End Profits COBURG, Ore., Feb. 6 /PRNewswire-FirstCall/ -- Monaco Coach Corporation (NYSE:MNC), one of the nation's leading manufacturers of recreational vehicles, today announced results for the fourth quarter and fiscal year ended December 29, 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/19991018/MONACO) Revenues for the fourth quarter of 2007 were $292.1 million, or 2.4% lower than the $299.2 million in revenues for the fourth quarter of 2006. Gross profit for the period was $32.1 million, up 18.6% from $27.1 million a year ago. The Company reported operating income of $4.5 million for the quarter compared to an operating loss of $512 thousand for the fourth quarter of 2006. The Company reported net income of $2.7 million, reversing a net loss of $562 thousand for the fourth quarter of 2006. Earnings were $0.09 per diluted share for the fourth quarter of 2007 versus a loss of $0.02 per diluted share for the fourth quarter of 2006. For the fiscal year ended December 29, 2007, Monaco Coach reported revenues of $1.3 billion, level with fiscal year 2006 revenues. Gross profit for the year was $140.9 million, up 13.1% compared to $124.5 million for 2006. Operating income for the year was $23.4 million, compared to $3.8 million for 2006. Net income for 2007 was $12.3 million, compared to $1.0 million earned in 2006. Earnings per share for the fiscal year were $0.41 per diluted share compared to $0.03 per diluted share for 2006. Kay Toolson, Chairman and Chief Executive Officer of Monaco Coach Corporation, stated, "We are very pleased with our 2007 results. The steps we have taken over the last 18 months to make the Company more efficient have significantly increased our profitability. We are committed to maintaining production levels that will produce optimal inventory levels for our dealer partners and the Company." "Our Motorized RV Segment continues its strong momentum both in the marketplace and profitability. Our diesel Class A market share improved by over 10% through November, and our gasoline market share is also beginning to improve. We feel the Fed's recent interest rate cuts should help the RV market in the second half of 2008. We believe that while some RV buyers may delay their purchasing decisions when times are uncertain, they rarely leave the RV lifestyle and can be expected to return to purchase a new RV when their confidence is restored," said Toolson. "The changes we made throughout our manufacturing processes, including increasing efficiencies at our sub-assembly plants, and reconfiguring and consolidating production lines, have led to better gross margins," said John Nepute, President of Monaco Coach Corporation. "Our industry-leading dealer initiative, Franchise for the Future, has aided us in increasing market share in a down market. The Company will continue to implement our proven strategy of matching our production level with wholesale and retail demand to manage the need for incentives to move products to our dealer partners." Fourth quarter 2007 selling, general, and administrative expenses of $27.6 million were similar to those in the fourth quarter of 2006. At year-end the Company reported finished goods inventory of $33.2 million versus $26.1 million at the end of the third quarter of 2007, a cash balance of $6.3 million and a zero balance on its line of credit. Following the Board of Directors' authorization in December to repurchase up to $30.0 million of its common stock, the Company, subsequent to year-end, purchased 313 thousand shares in the open market for approximately $2.8 million. Motorized Recreational Vehicle Segment The Motorized RV Segment reported net sales of $244.3 million for the fourth quarter of 2007, an increase of 1.4% compared to $240.9 million for the fourth quarter of 2006. Total units shipped for the quarter were 1,408, an increase of 1.1% compared to the same period in 2006. Gross profit was $28.5 million, or 11.7% of net sales, for the fourth quarter of 2007, compared to $19.7 million, or 8.2% of net sales, for the fourth quarter of 2006. This resulted in a significant improvement in the segment's operating income from a loss of $31 thousand in the fourth quarter of 2006 to operating income of $8.3 million in the fourth quarter of 2007. "The increase in gross profit and profitability was the result of better absorption of indirect costs and material savings," Nepute noted. "Internal retail reporting, however, has indicated retail sales slowed in January 2008. Although this has tempered our outlook for this segment in the near term, we remain encouraged by our dealers' positive acceptance of our models shown at the November 2007 Louisville RV Show, and anticipate that our motorized RV market share will continue to increase in 2008." Net sales for the Motorized RV Segment for 2007 were $998.4 million, a 6.0% increase over net sales of $941.7 million for 2006. Gross profit for 2007 was $110.6 million, or 11.1% of net sales, compared to $72.5 million, or 7.7% of net sales, for 2006. Operating income for 2007 was $24.7 million, compared to an operating loss of $6.2 million for 2006. There were 5,856 units sold in 2007, compared to 5,756 in 2006. Towable Recreational Vehicle Segment The Towable RV Segment reported net sales of $46.7 million for the fourth quarter of 2007, a 7.0% decrease compared to $50.3 million for the fourth quarter of 2006. Gross profit for the segment was $3.0 million, or 6.4% of net sales, compared to a gross profit of $2.2 million, or 4.4% of net sales, for the fourth quarter of 2006. Operating loss for the fourth quarter of 2007 was $2.5 million, compared to an operating loss of $2.9 million for the fourth quarter of 2006. Fourth quarter 2007 towable units sold were 2,837, up 6.1% compared to 2,673 for the fourth quarter of 2006 and included 773 specialty trailers sold in the fourth quarter of 2007 and 613 in the fourth quarter of 2006. "The Towable RV Segment's improvement in gross margin for the fourth quarter of 2007 was the result of material and other direct cost savings," said Nepute. "Increased selling, general, and administrative expenses relating to higher payroll costs and marketing expenses in the segment offset these savings. Depressed operating results in the fourth quarter is a typical seasonal pattern for the segment; however, the towable market remains extremely competitive." Net sales for the Towable RV Segment for 2007 were $261.4 million, compared to net sales of $324.3 million for 2006, which included $26.8 million of FEMA emergency living units. Gross profit for 2007 was $22.7 million, or 8.7% of net sales, compared to $31.5 million, or 9.7% of net sales, for 2006. The Company reported an operating loss of $904 thousand in 2007 versus operating income of $1.4 million for 2006. There were 16,276 units sold in 2007, which included 4,166 specialty trailers, compared to 19,307 units in 2006, which included 4,304 specialty trailers and 2,019 FEMA units. Motorhome Resorts Segment Net sales for the Motorhome Resorts Segment for the fourth quarter of 2007 were $1.2 million, compared to $8.0 million for the fourth quarter of 2006. Gross profit for the Motorhome Resorts Segment was $631 thousand for the fourth quarter of 2007, compared to $5.1 million for the fourth quarter of 2006. The Company reported a $1.2 million operating loss for the fourth quarter of 2007, compared to operating income of $2.4 million for the fourth quarter of 2006. "Decreased sales traffic combined with declining inventory at the resorts have slowed sales substantially," said Nepute. "Activity has picked up modestly in the first quarter of 2008, and we anticipate selling the remaining 62 lots at Indio, California and Las Vegas in 2008. The resort in Naples, Florida is moving forward toward completion and should have lots available for sale in the second quarter of 2008. Construction on our La Quinta, California motorhome resort has been delayed due to longer than expected timelines for certain regulatory and permitting requirements. We now expect to have lots available for sale by the end of the fourth quarter of 2008." Net sales for the Motorhome Resorts Segment for 2007 were $12.3 million, compared to sales of $32.0 million for 2006. Gross profit for this segment was $7.5 million for 2007, compared to $20.5 million for 2006. For 2007 the segment reported an operating loss of $405 thousand, compared to $8.6 million in operating income for 2006. 2008 Business Outlook Marty Daley, Monaco Coach Corporation Vice President and Chief Financial Officer, stated, "We are still comfortable that if the RV market is flat in 2008, which would likely require a rebound in consumer confidence, we would be able to achieve previously stated guidance. The soft retail environment that we are seeing so far in the first quarter could lead to a declining overall market. However, given our internal improvements and anticipated gains in market share, we believe the Company's results would be similar to 2007 if RV markets were down approximately 10%. We are committed to implementing additional cost saving initiatives and modifying production run rates in 2008, as we have done over the past 18 months." Conference Call to be Held Monaco Coach Corporation will conduct a conference call in conjunction with this news release at 2:00 p.m. Eastern Time on Wednesday, February 6, 2008. Members of the news media, investors, and the general public are invited to access a live broadcast of the conference call via the Investor Relations page of the Company's website at http://www.monaco-online.com/. The conference call will be archived and available for replay for the next 90 days. About Monaco Coach Corporation Monaco Coach Corporation, a leading national manufacturer of motorized and towable recreational vehicles, is ranked as the number one producer of diesel-powered motorhomes. Dedicated to quality and service, Monaco Coach is a leader in innovative RVs designed to meet the needs of a broad range of customers with varied interests and offers products that appeal to RVers across generations. Headquartered in Coburg, Oregon, with substantial manufacturing facilities in Indiana, Monaco Coach employs approximately 5,000 people. The Company offers a variety of RVs, from entry-level priced towables to custom-made luxury models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie, R-Vision and Dodge brand names. The Company maintains RV service centers in Harrisburg, Oregon, Elkhart, Indiana and Wildwood, Florida and operates motorhome-only resorts in California, Florida and Nevada. Monaco Coach Corporation trades on the New York Stock Exchange under the symbol "MNC," and the Company is included in the S&P Small-Cap 600 stock index. For additional information about Monaco Coach Corporation, please visit http://www.monaco-online.com/ or http://www.trail-lite.com/. The statements above regarding the Company's expectation for increased motorized RV market share in 2008, gains in towable market share, RV markets' reaction to interest rate cuts by the Federal Reserve Board, anticipated sales of lots at existing resort locations and availability for sale of lots at our new locations and the statements made under the 2008 Business Outlook are forward-looking statements subject to various risks and uncertainties that could cause actual results to differ materially from these statements, including unforeseen declines in the wholesale and retail markets for recreational vehicles, consumers' preference for certain models and resort lots, unforeseen regulatory impediments in resort lot development, failure to realize RV market improvement as a result of interest rate cuts, a decline in consumer confidence, an increase in interest rates affecting retail and wholesale financing, an increase in price or availability of fuel, and a downturn in the equity markets. Please refer to the Company's SEC reports for additional risks and uncertainties, including but not limited to the most recent Form 10-Q, the annual report on Form 10-K for 2006, and the 2006 Annual Report to Shareholders for additional factors. These filings can be accessed over the Internet at http://www.sec.gov/. CONTACT:
Craig Wanichek
Director of Investor Relations
Monaco Coach Corporation
(541) 681-8029
craig.wanichek@monacocoach.com (Tables to follow) MONACO COACH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited: dollars in thousands) December 30, December 29,
2006 2007
ASSETS
Current assets:
Cash $4,984 $6,282
Trade receivables, net 81,588 88,170
Inventories, net 155,871 158,236
Resort lot inventory 7,997 8,838
Prepaid expenses 5,624 5,142
Income taxes receivable 6,901 0
Deferred income taxes 38,038 37,608
Total current assets 301,003 304,276 Property, plant, and equipment, net 153,895 144,291
Land held for development 16,300 24,321
Investment in joint venture 0 4,059
Debt issuance costs net of accumulated
amortization of $912 and $1,098, respectively 540 498
Goodwill 86,412 86,323 Total assets $558,150 $563,768 LIABILITIES
Current liabilities:
Book overdraft $16,626 $1,601
Current portion of long-term debt 5,714 5,714
Line of credit 2,036 0
Income taxes payable 0 3,413
Accounts payable 72,591 82,833
Product liability reserve 15,764 14,625
Product warranty reserve 33,804 35,171
Accrued expenses and other liabilities 44,364 48,609
Discontinued operations 298 0
Total current liabilities 191,197 191,966 Long-term debt, less current portion 29,071 23,357
Deferred income taxes 21,678 21,506
Deferred revenue 883 683
Total liabilities 242,829 237,512
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value; 1,934,783
shares authorized, no shares outstanding
Common stock, $.01 par value; 50,000,000
shares authorized, 29,769,356 and 29,989,534
issued and outstanding, respectively 298 300
Additional paid-in capital 63,722 69,514
Retained earnings 251,301 256,442
Total stockholders' equity 315,321 326,256
Total liabilities and stockholders' equity $558,150 $563,768 MONACO COACH CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited: dollars in thousands, except share and per share data) Quarter Ended Year Ended
December 30, December 29, December 30, December 29,
2006 2007 2006 2007 Net sales $299,163 $292,146 $1,297,986 $1,272,130
Cost of sales 272,092 260,051 1,173,443 1,131,262
Gross profit 27,071 32,095 124,543 140,868 Selling, general, and
administrative expenses 27,583 27,574 120,465 117,459
Plant relocation costs 0 0 269 0
Operating income (loss) (512) 4,521 3,809 23,409 Other income, net 108 68 615 851
Interest expense (932) (753) (4,430) (3,496)
Gain (loss) from investment
in joint venture 0 653 0 (614) Income (loss) before
income taxes,
continuing operations (1,336) 4,489 (6) 20,150 Provision for (benefit
from) income taxes,
continuing operations (649) 1,807 (992) 7,824 Income (loss) from
continuing operations (687) 2,682 986 12,326 Income from discontinued
operations, net of tax
provision 125 0 18 0 Net income (loss) $(562) $2,682 $1,004 $12,326 Earnings (loss) per
common share:
Basic from continuing
operations $(0.02) $0.09 $0.03 $0.41
Basic from
discontinued operations 0.00 0.00 0.00 0.00
Basic $(0.02) $0.09 $0.03 $0.41 Diluted from continuing
operations $(0.02) $0.09 $0.03 $0.41
Diluted from
discontinued operations 0.00 0.00 0.00 0.00
Diluted $(0.02) $0.09 $0.03 $0.41 Weighted-average common
shares outstanding:
Basic 29,760,969 29,987,563 29,712,957 29,931,730
Diluted 30,018,115 30,246,248 29,902,830 30,346,917 MONACO COACH CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited: dollars in thousands) Year Ended
December 30, December 29,
2006 2007
Increase (Decrease) in Cash: Cash flows from operating activities:
Net income $1,004 $12,326
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Loss on sale of assets 14 58
Depreciation and amortization 14,177 14,132
Deferred income taxes (1,900) 347
Stock-based compensation expense 2,759 4,011
Net losses in equity investment 0 614
Changes in working capital accounts:
Trade receivables, net 21,078 (6,582)
Inventories 27,421 (6,425)
Resort lot inventory 1,138 (841)
Prepaid expenses (1,270) 479
Land held for development (16,300) (8,022)
Accounts payable (5,708) 10,242
Product liability reserve (3,762) (1,139)
Product warranty reserve 902 1,093
Income taxes payable (6,664) 10,314
Accrued expenses and other liabilities 7,224 4,374
Deferred revenue 883 (200)
Discontinued operations 4,271 (18)
Net cash provided by operating
activities 45,267 34,763 Cash flows from investing activities:
Additions to property, plant, and
equipment (9,324) (5,279)
Investment in joint venture 0 (366)
Proceeds from sale of assets 215 644
Net cash used in investing activities (9,109) (5,001) Cash flows from financing activities:
Book overdraft 2,076 (15,025)
Payments on lines of credit, net (22,964) (2,036)
Payments on long-term notes payable (5,715) (5,714)
Debt issuance costs (79) (278)
Dividends paid (7,134) (7,194)
Issuance of common stock 1,799 1,508
Tax benefit of stock-based award activity 161 275
Discontinued operations 96 0
Net cash used in financing activities (31,760) (28,464) Net change in cash 4,398 1,298
Cash at beginning of period 586 4,984 Cash at end of period $4,984 $6,282 Monaco Coach Corporation
Segment Reporting
(Unaudited: dollars in thousands) Results of Consolidated Operations Quarter Ended Quarter Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $299,163 100.00% $292,146 100.00%
Cost of sales 272,092 90.95% 260,051 89.01%
Gross profit 27,071 9.05% 32,095 10.99% Selling, general, and
administrative expenses 27,583 9.22% 27,574 9.44% Plant relocation costs - 0.00% - 0.00% Operating income (loss) (512) -0.17% 4,521 1.55% Other income and interest expense 824 0.28% 32 0.01%
Income (loss) before
income taxes (1,336) -0.45% 4,489 1.54% Income taxes (649) -0.22% 1,807 0.62% Income (loss) from
continuing operations (687) -0.23% 2,682 0.92%
Income from discontinued operations,
net of tax provision 125 0.04% - 0.00%
Net income (loss) $(562) -0.19% $2,682 0.92% Depreciation and amortization $3,596 $3,519
Capital expenditures 1,865 1,085
Raw materials inventory
WIP inventory
Finished goods inventory Year Ended Year Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $1,297,986 100.00% $1,272,130 100.00%
Cost of sales 1,173,443 90.40% 1,131,262 88.93%
Gross profit 124,543 9.60% 140,868 11.07% Selling, general, and
administrative expenses 120,465 9.28% 117,459 9.23% Plant relocation costs 269 0.02% - 0.00% Operating income (loss) 3,809 0.29% 23,409 1.84% Other income and interest expense 3,815 0.29% 3,259 0.26%
Income (loss) before income taxes (6) 0.00% 20,150 1.58% Income taxes (992) -0.08% 7,824 0.62% Income (loss) from
continuing operations 986 0.08% 12,326 0.97%
Income from discontinued operations,
net of tax provision 18 0.00% - 0.00%
Net income (loss) $1,004 0.08% $12,326 0.97% Depreciation and amortization $14,177 $14,132
Capital expenditures 9,324 5,279
Raw materials inventory 73,624 70,235
WIP inventory 55,474 54,760
Finished goods inventory 26,773 33,241 Motorized Recreational Vehicle Segment Quarter Ended Quarter Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $240,929 100.00% $244,256 100.00%
Cost of sales 221,200 91.81% 215,801 88.35%
Gross profit 19,729 8.19% 28,455 11.65% Selling, general, and administrative
expenses and corporate overhead 19,760 8.20% 20,140 8.25%
Plant relocation costs - 0.00% - 0.00%
Operating income (loss) $(31) -0.01% $8,315 3.40% Units Sold
Class A Diesel 1,086 1,007
Class A Gas 155 261
Class C 151 140
Total 1,392 1,408 Average Gross Wholesale Price
Class A Diesel $203 $212
Class A Gas 81 82
Class C 53 56 Internal Retail Registrations
Class A Diesel 1,038 888
Class A Gas 243 210
Class C 113 124
Total 1,394 1,222 Additional Information*
Backlog units
Backlog value
Dealer inventory (units)
Number of production lines
Capacity utilization
Number of independent
distribution points Year Ended Year Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $941,657 100.00% $998,448 100.00%
Cost of sales 869,110 92.30% 887,830 88.92%
Gross profit 72,547 7.70% 110,618 11.08% Selling, general, and administrative
expenses and corporate overhead 78,478 8.33% 85,900 8.60%
Plant relocation costs 269 0.03% - 0.00%
Operating income (loss) $(6,200) -0.66% $24,718 2.48% Units Sold
Class A Diesel 4,297 4,295
Class A Gas 925 928
Class C 534 633
Total 5,756 5,856 Average Gross Wholesale Price
Class A Diesel $196 $205
Class A Gas 84 80
Class C 52 54 Internal Retail Registrations
Class A Diesel 4,164 4,388
Class A Gas 1,154 977
Class C 367 476
Total 5,685 5,841 Additional Information*
Backlog units 674
Backlog value 91,571
Dealer inventory (units) 3,436
Number of production lines 5
Capacity utilization 66%
Number of independent
distribution points 286 * As of 12/29/2007 Towable Recreational Vehicle Segment Quarter Ended Quarter Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $50,250 100.00% $46,723 100.00%
Cost of sales 48,037 95.60% 43,714 93.56%
Gross profit 2,213 4.40% 3,009 6.44% Selling, general, and administrative
expenses and corporate overhead 5,107 10.16% 5,558 11.90%
Operating income (loss) $(2,894) -5.76% $(2,549) -5.46% Units Sold
Travel trailer and fifth-wheel 2,060 2,064
Specialty trailer 613 773
Total 2,673 2,837 Average Gross Wholesale Price
Travel trailer and fifth-wheel 24 21
Specialty trailer 10 11 Internal Retail Registrations
Travel trailer and fifth-wheel 1,870 1,671 Additional Information: Travel
Trailer and Fifth-Wheel*
Backlog units
Backlog value
Number of production lines
Capacity utilization
Number of independent
brand distribution points Year Ended Year Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $324,342 100.00% $261,391 100.00%
Cost of sales 292,876 90.30% 238,684 91.31%
Gross profit 31,466 9.70% 22,707 8.69% Selling, general, and administrative
expenses and corporate overhead 30,060 9.27% 23,611 9.03%
Operating income (loss) $1,406 0.43% $(904) -0.35% Units Sold
Travel trailer and fifth-wheel 15,003 12,110
Specialty trailer 4,304 4,166
Total 19,307 16,276 Average Gross Wholesale Price
Travel trailer and fifth-wheel 20 20
Specialty trailer 9 10 Internal Retail Registrations
Travel trailer and fifth-wheel 11,759 11,999 Additional Information: Travel
Trailer and Fifth-Wheel*
Backlog units 1,290
Backlog value 27,288
Number of production lines 7
Capacity utilization 57%
Number of independent
brand distribution points 668 * As of 12/29/2007 Motorhome Resorts Segment Quarter Ended Quarter Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $7,984 100.00% $1,167 100.00%
Cost of sales 2,855 35.76% 536 45.93%
Gross profit 5,129 64.24% 631 54.07% Selling, general, and administrative
expenses and corporate overhead 2,716 34.02% 1,876 160.75%
Operating income (loss) $2,413 30.22% $(1,245) -106.68% Lots sold in period 36 6
Unsold developed lots
Project-to-date lots sold
Lots with deposits Year Ended Year Ended
December December
30, % of 29, % of
2006 Sales 2007 Sales Net sales $31,987 100.00% $12,291 100.00%
Cost of sales 11,457 35.82% 4,748 38.63%
Gross profit 20,530 64.18% 7,543 61.37% Selling, general, and administrative
expenses and corporate overhead 11,927 37.29% 7,948 64.67%
Operating income (loss) $8,603 26.90% $(405) -3.30% Lots sold in period 153 56
Unsold developed lots 118 62
Project-to-date lots sold 689 745
Lots with deposits 27 11 Resort Locations:
Las Vegas, NV
Total lots in resort are 407, all of which have been developed. Indio, CA
Total lots in resort are 400, all of which have been developed. La Quinta, CA
Total expected lots in resort are 400, some of which will be available to
sell fourth quarter of 2008. Naples, FL
Total expected lots in resort are 198, some of which will be available to
sell second quarter of 2008.
First Call Analyst:
FCMN Contact: Shirley@ctapr.com
Photo: http://www.newscom.com/cgi-bin/prnh/19991018/MONACO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Monaco Coach Corporation
CONTACT: Craig Wanichek, Director of Investor Relations of Monaco Coach
Corporation, +1-541-681-8029, craig.wanichek@monacocoach.com Web site: http://www.monaco-online.com/
http://www.trail-lite.com/
-------
Profile: automotive-news
posted by automotive-news # 6:08 AM
Bentley Motors Chooses e:CLS for its After Sales Information Management
Bentley Motors Chooses e:CLS for its After Sales Information Management GÜTERSLOH, Germany, February 6/PRNewswire/ -- - empolis and arvato services Continue to Affirm Their Leadership in the
Automotive Market Bentley Motors, the prestige automaker that is part of the VW
group, today announced that the empolis Content Lifecycle Suite (e:CLS) has
been selected as the platform for the new Bentley authoring environment,
called Bentley Authoring System (BAS). BAS will be used to manage all technical information that
Bentley distribute to their 155 worldwide dealers, including training
information and service information. Bentley selected e:CLS after a 10 month evaluation period of
12 different Component Content Management Systems. e:CLS was selected due to
the high level of out-of-the-box functionality, which will enable a very
short roll-out time and enable Bentley to get return on their investment
quicker. Mike Morris, Head of After Sales for Bentley, said "We chose
e:CLS because it fits right into our existing IT landscape, enabling us to
get up and running with the system very quickly. At the same time, e:CLS also
offers us the chance to scale up and out in terms of additional content sets
and departments inside of Bentley over the coming years as more and more of
our content moves to XML." empolis' sister company, arvato services, are responsible for
implementing the BAS system at Bentley, and integrating BAS with the existing
after sales systems within the VW group. Ulli Kreidner, Department Head at arvato services, said
"arvato services are pleased to have been selected to implement the BAS
system at Bentley. arvato services are a key supplier of IT skills to VW, and
the BAS project will strengthen the VW and arvato relationship further." About empolis empolis - The Information Logistics Company - a subsidiary of
arvato AG, offers enterprise content and knowledge management solutions for
company-wide information logistics and for improving business processes. As a
full service supplier, empolis delivers everything from consulting, design
and creation to implementation of solutions - from a single source. About arvato services arvato services, a subsidiary of arvato AG, is the leading
service provider for every aspect of effective solutions in the fields of
Customer Communication and Supply Chain Management in Europe and non-European
markets. arvato services offers one-stop shopping concepts to its customers
for CRM-/SCM-Consulting, Customer Loyalty, Data Management, Lettershop,
Customer Service, Logistics and Finance, supported by IT-solutions. More than
28,000 arvato services employees serve the customers of their customers
worldwide. About Bentley Motors With its combination of modern technology, craftsmanship and
bespoke capabilities, Bentley occupies a leading position in the luxury
vehicle market, worldwide. Bentley is a prominent British vehicle
manufacturer, with all of its production based at its factory in Crewe,
England, where it employs a workforce of 3800 and a 500-strong engineering
team. With 2007 retail sales of 10,014 units worldwide, Bentley has
just completed the best year in its history. A major component of this is its
export business, with overseas income in excess of GBP745 million. Bentley
has strengthened its presence around the world, in both emerging and
established markets Overall volume grew by 7%, with increases in almost all
major markets: +7% in the UK, +4% in North America, +7% in Europe, +18% in
the Asia Pacific region, and +93% in China alone.
For more information:
arvato AG Public Relations
Tel: +49(0)5241-80-3408
Fax: +49(0)5241-80-3315 Source: empolis arvato For more information: arvato AG Public Relations, Tel: +49(0)5241-80-3408, Fax: +49(0)5241-80-3315
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Profile: automotive-news
posted by automotive-news # 3:02 AM
Purpose-Built: Ford Transit Connect Delivers Unique Compact Versatility for American Business
Purpose-Built: Ford Transit Connect Delivers Unique Compact Versatility for American Business - Purpose-built for small business owners, the Ford Transit Connect is a versatile compact van that offers a fuel-efficient alternative to full- size commercial vans. - Transit Connect, debuting at the Chicago Auto Show, is another example of how Ford is leveraging its global product lineup. Transit Connect is designed, engineered and manufactured by Ford of Europe. It was named International Van of the Year when launched in 2003. - Ford is the Commercial Vehicle leader in the U.S. with 40 percent share of the total commercial vehicle market and has been the full-size van leader with the Ford E-Series for 29-years running. Transit Connect further builds Ford's strong commercial vehicle portfolio. CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- Ford (NYSE:F) is tapping its global product strengths to mobilize and connect small business owners in North America with the European-engineered Ford Transit Connect. Introduced today at the Chicago Auto Show, Transit Connect is designed to bring American small business owners a new vehicle choice that offers improved fuel economy, bigger load capacity and better cargo accessibility than today's commercial vehicle offerings. "Ford Transit Connect is built on a dedicated, commercial vehicle platform to meet the rigors business use demands. This workhorse is like nothing available today in the American market," said Derrick Kuzak, Ford group vice president of Global Product Development. "The Transit Connect provides another example of Ford's commitment to deliver 100 percent new or upgraded products that people truly want and value by the end of 2010," he said. With its standard, 2.0-liter, four-cylinder engine and automatic transmission, Transit Connect delivers fuel economy estimated at 19 mpg city and 24 mpg highway. Transit Connect will be a truly white-space product for North America. Its closest competitors are cargo vans offered by Chevrolet and Dodge. Transit Connect will provide a significant city fuel economy advantage, while offering more cargo space. Both are increasingly important to small business owners in today's changing marketplace. "More than ever before, consumers are making the bulk of their purchases from the Internet and smaller, specialty businesses, which is increasing the volume of small package deliveries," said Kuzak. "Transit Connect is ideally suited to meet those delivery needs because of its flexible package, compact size and fuel-efficient powertrain. It will make the delivery process for small business owners easier and more affordable." Global Product Innovation Designed, engineered and manufactured by Ford of Europe to beat tough, medium commercial vehicle standards, Transit Connect has been a sales success for Ford across the Atlantic and is an ideal option for small business owners in North America. "Ford is intensifying its efforts to leverage the best of our Ford product portfolio around the world," Kuzak said. "In Europe, this tough small van has carved out a niche for itself, building on the strength of the Transit name -- which is synonymous with commercial vehicle leadership in Europe. Transit Connect can make a real difference to customers here." Transit Connect was named International Van of the Year by an independent panel of leading commercial vehicle journalists representing 19 European countries when first launched in 2003. Editors credited Ford for listening to the wants and demands of customers, both large and small and heralded the "long list of clever and practical solutions in the areas of handling, accessibility, security and safety" that Ford Transit Connect introduced. Car+Van+Truck = Transit Connect Complementing its truck toughness, Transit Connect handles and performs like a car and offers car-like fuel economy, interior comforts and safety features. "It drives like a car, works like a van and is engineered to be as tough as a truck," said Rob Stevens, Chief Engineer of Ford Transit Connect in the U.S. This compact van was built around the following key attributes: -- Class-leading cargo area functionality and versatility
-- High levels of durability through the use of thick, high-strength steel
and a reinforced body shell with partial double skin sides and twin
side crossmembers
-- Responsive and fuel-efficient powertrain
-- High levels of security and safety, with a rigid body structure, side
impact protection, dual front air bags and an array of security
features, including a lockable hood
-- Low cost of ownership, from lower fuel costs to powertrain durability
Opening with Versatility
Transit Connect has cargo doors on both sides and at the rear -- dual sliding side doors and 180-degree-opening rear doors -- that make accessing its generous cargo area convenient. Its front doors have large openings, making getting in and out of the vehicle easy -- an important design feature for delivery people.
For its size and urban maneuverability, the Transit Connect cargo capacity is a massive 143 cubic feet. It can accommodate loads up to 6.5 ft. in length and 4.7 ft. in width. "Transit Connect can swallow far more cargo than its users might think," said Len Deluca, Director of Ford Commercial Trucks. "Its versatile cargo area gives Transit Connect an unequivocal advantage, accommodating for large, flat-sided loads and providing a totally flat load floor," he said. Straight and square side walls of the Transit Connect also mean business on the outside. They provide a clean surface and perfect positioning for commercial branding logos and messages. Inside, storage systems can make Transit Connect ideal for specific businesses. For the Chicago show, Ford kitted out Transit Connects highlighting three local businesses -- including a catering and event planning company, a wine wholesaler and home technology integration firm -- as well as a five-member Chicago blues band. The Windy City is a fitting place to debut the versatile Transit Connect. Its maneuverability makes it ideal for urban use, where streets are congested and parking space for delivery or service vehicles is limited. Its tight turning radius makes Transit Connect as nimble as a compact car. And its height makes it ideal for tight parking garages with limited-height clearances -- Transit Connect gets in and out of garages with as little as 6 ft. 8 in. clearance. Established Credentials Transit Connect is part of a family of Transit commercial vehicles offered across Europe. Since the introduction of the Transit Connect, Ford's share of the European light and medium duty commercial vehicle market has doubled to 34 percent. In record-setting 2007, Ford sold 109,900 Transit Connects and 224,915 Transits in Europe. For more than 40 years, the Transit brand has synonymous with commercial vehicle excellence, a success which continues to grow. In 2007, Ford achieved an all-time record European commercial vehicle retail volume across its 19- market region, including individual model volume records for Transit Connect and the Ford Transit medium commercial van. More than 5 million Transit units have been manufactured since 1965. Thanks largely to E-Series, Ford is the reigning Commercial Vehicle leader in the U.S. with 40 percent share of the total commercial vehicle market and has been the full-size van leader with E-Series for 29 years running. Transit Connect is manufactured in Kocaeli, Turkey, at Ford's most advanced light commercial vehicle assembly plant. It will be available in select North American markets in mid-2009. First Call Analyst:
FCMN Contact:
Source: Ford Motor Company
CONTACT: Becky Sanch, +1-313-594-4410, bsanch@ford.com, or Said Deep,
+1-313-594-0942, sdeep@ford.com, both of Ford Motor Company Web site: http://www.ford.com/ NOTE TO EDITORS: Go to http://media.ford.com for news releases and high- resolution photographs. -------
Profile: automotive-news
Ford Work Solutions: Expanding the Capability and Productivity of America's Favorite Trucks
Ford Work Solutions: Expanding the Capability and Productivity of America's Favorite Trucks - Ford Work Solutions is a collection of affordable technologies - including four industry-first features - that will provide Ford customers connectivity, flexibility and security to better run key aspects of their business - from their Ford Truck, even on the job site. - Ford Work Solutions will be available this fall on the 2009 F-150, F-Series Super Duty, and E-Series vans. Transit Connect vans join Ford truck's commercial vehicle lineup with this technology in mid-2009. CHICAGO, Feb. 6 /PRNewswire-FirstCall/ -- Ford (NYSE:F) is further expanding its 'smart' features for truck customers, announcing today a collection of industry-exclusive technologies for F-Series trucks and commercial E-Series vans that will help make business owners more productive and successful. Ford Work Solutions delivers four innovative features: -- An in-dash computer developed with Magneti Marelli and powered by
Microsoft Auto that provides full high-speed Internet access via the
Sprint Mobile Broadband Network and navigation by Garmin. It's the
first broadband-capable in-dash computer in production. This system
allows customers to print invoices, check inventories and access
documents stored on their home or office computer networks - right on
the job site. -- Tool Link, a Radio-Frequency Identification (RFID) asset tracking
system developed in partnership with DEWALT, the industry leader in
professional power tools, and ThingMagic, the industry expert on
embedded RFID technology. This enables customers to maintain a
detailed real-time inventory of the tools or equipment stored in the
pickup box. -- Crew Chief, a fleet telematics and diagnostics system, which allows
small fleet owners to efficiently manage their vehicles, quickly
dispatch workers to job sites and keep detailed vehicle maintenance
records. -- Cable Lock security system developed in partnership with Master
Lock(R), the industry-leading lock manufacturer, to discourage theft of
expensive tools too large to fit in the cab. "Our truck customers are smart - and they work hard," said Mark Fields, Ford's president of The Americas. "Ford Work Solutions provides truck customers new technologies and tools to help them work even smarter and further boost their productivity." F-Series has been the best-selling truck in America for 31 years. Two out of every five commercial trucks sold in the U.S. wears a Ford oval. For years, truck capability has been measured in maximum towing and payload ratings. The new 2009 Ford F-150 builds on that kind of industry- leading capability, offering the most 'smart' features that make towing and hauling more flexible, easier and safer. Ford Work Solutions adds still another dimension of capability for commercial truck owners. "Ford Work Solutions takes productivity to a new level by bringing the office to the job site in an integrated, seamless way that only Ford could deliver - with a strong network of industry-leading partners like DEWALT, Microsoft, Garmin, Master Lock(R), Magneti Marelli and Sprint," said John Felice, general marketing manager, Ford Division. Ford Work Solutions features were developed through hands-on research with contractors and skilled tradespeople in multiple markets around the U.S. All four Ford Work Solutions will be available this fall on the new 2009 Ford F-150 XL, STX, XLT and FX4 trucks; F-Series Super Duty XL, XLT and FX4 trucks; and all 2009 E-Series vans. Transit Connect vans join the lineup in mid-2009. In time, several of the features will be available for dealer installation to upgrade Ford Trucks already in service. Online On the Job Site Ford is delivering fully integrated mobile office functionality into F-Series trucks on the job site - an industry first. An in-dash computer, developed with Magneti Marelli, transforms the new 2009 F-150 or F-Series Super Duty into true mobile offices, capable of linking into the business owner's main office computer network or a home computer via a cellular broadband connection. Users can access existing files on an office computer miles from the job site, open a word processing document, a spread sheet or their business accounting program, make updates and print them in the truck on an available Ford-certified, on-board, Bluetooth-enabled, battery-powered inkjet printer. Powered by Microsoft Auto, the system provides high-speed Internet access via the Sprint Mobile Broadband Network. It works with Bluetooth-enabled mobile phones, offering hands-free calling with push-to-talk voice recognition, access to user phonebooks and the ability to receive text messages. The in-dash computer also includes navigation by Garmin, which comes standard with features like re-routing due to construction or traffic congestion and points of interest including local gas stations and their fuel prices, restaurants, Ford dealerships and Quick Lane Tire & Auto Centers. The computer is integrated into the vehicle's center stack, filling the same space normally occupied by the standard radio. It is equipped with a 6.5-inch, high-resolution touch screen, two gigabytes of memory, a secure digital slot for additional memory, a USB port and includes a wireless keyboard and mouse. A stylus, stored next to the CD slot, is included for use on the touch screen. The computer is 'Built Ford Tough' - designed and tested to the same stringent standards as the other parts on the truck. Tracking Tools Ford F-Series trucks offer customers the most flexible, most accessible pickup boxes in the industry, thanks to class-leading hauling capability, industry-exclusive features like tailgate and box side steps - as well as a unique technology like Ford Work Solutions Tool Link. Developed with DEWALT and ThingMagic, Tool Link offers owners the capability to mark and scan high-value tools, safety equipment, material inventories and other important assets using RFID tags. When the vehicle is running, a pair of RFID antennas, mounted in corrosion- and impact-resistant housings on the inside of the pickup box, scan the box for the items on a pre-programmed inventory list. The data is transmitted to a reader mounted inside the cab and displayed on the in-dash computer screen, alerting the driver if any inventoried tools are not loaded on the truck. "Tool Link increases productivity and saves money," said William Frykman, Ford Work Solutions product and business development manager. "It helps contractors and tradespeople guarantee they show up at the job site with the right tools for each job- and that they don't leave equipment behind." Tool Link comes pre-loaded with several standard tool lists that are easily edited to reflect specific types of jobs. The system uses industry standard second-generation RFID tags that can be fastened to tools or other items and can read and catalogue hundreds of tools or assets in just seconds. Manage the Crew Fleet owners and managers often need to dispatch vehicles quickly for service calls. Ford Work Solutions Crew Chief provides them a telematics and diagnostics system that delivers real-time vehicle location and maintenance tracking, allowing them to quickly respond to calls and optimally deploy their fleets. The data is linked to a web-based application, which can be used by a fleet administrator in an office or anywhere there is Internet access - including a Ford Work Solutions in-dash computer. As an added benefit, Crew Chief interfaces with the vehicle's electrical architecture and can monitor numerous diagnostic functions, including tire pressure or check engine light codes. It also can be programmed to identify user-set alerts, such as unauthorized use of a vehicle or excessive idling. The system will also provide fuel calculations and fuel tax reporting, helping fleet managers and business owners manage costs more effectively. Master Lock Keeps Cargo Secure "Secure, lockable storage is important for all customers," said Frykman. "That's why we worked with Master Lock to deliver the Cable Lock, a convenient way to secure items such as toolboxes, air compressors, generators or large power tools that may need to be in the pickup box when the vehicle is parked." The strong, eight-foot, 10 millimeter steel cable is wrapped in a protective plastic sheathing and is easily woven around toolbox handles or through and around items and then locked to the truck with a cuff-style clasp. The clasp can be attached to any of the items in the box, any of the tie-down cleats, or simply clamped back onto the cable itself. The self-retractable cable is stored in a corrosion- and impact-resistant housing mounted to the inside wall at the rear of the pickup box. The unit is spring-loaded and uses a friction mechanism that will gently retract the cable when not in use. Cable Lock is easily installed on virtually any Ford pickup truck.
Source: Ford Motor Company
CONTACT: Becky Sanch, +1-313-594-4410, bsanch@ford.com, or Alan Hall,
+1-313-594-3744, ahall32@ford.com, both of Ford Motor Company Web site: http://www.ford.com/ NOTE TO EDITORS: Go to http://media.ford.com for news releases and high-resolution photographs. -------
Profile: automotive-news
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