Auto Plus News

Posted Oct 28th 2008 3:33PM by Chris Shunk
Filed under: Car Buying, Hatchbacks, Volkswagen

Click above for a high-res gallery of the 2009 Volkswagen R32

The Volkswagen R32 has a die-hard following here in the States. Unfortunately for the sprightly hatchback’s groupies, you’ll have to head overseas if you want a 2009 model. Volkswagen spokesman Thomas Wegehaupt confirmed the R32’s early exit out of the U.S., which means the original 5,000-unit allotment of hot hatches will be the only current-generation R32s to make it Stateside. Part of the reason for the discontinued R32 could have something to do with next year’s arrival of the MK VI Golf Rabbit, which will be followed by a new GTI and possibly another R32.

The folks over at Kicking Tires say there are still 276 ‘08 models left in the US, so there are a few chances left to pick an R32 up. The remaining copies of the $32,995 hatch has $2,000 on the hood, too, so those last examples come at a discount. Is a 250-hp Golf with AWD worth a $31,000 entry price when the GTI is almost as fast for nearly $10,000 less? That may have something to do with the fact that we won’t have an ‘09 R32 in the first place.

Gallery: In the Autoblog Garage: 2008 VW R32

[Source: Kicking Tires]

Volkswagen announced the U.S. will no longer be receiving the hottest version of the Rabbit/Golf/GTI known as the R32. Although this car found a home with many wannabe racers, it was likely hard for Volkswagen to sell a $33,000 hatchback that didn’t look too different from the $16,000 VW Rabbit. One hope is that the the 250 hp all-wheel drive hot hatch will return to these shores when the new Golf VI comes to the US market possibly before the end of 2009.

Posted Oct 28th 2008 11:28AM by Chris Shunk
Filed under: Green, Supercars, Ferrari, Rumormill

Ferrari has promised to make its future products lighter and more mindful of the environment, and the first example of the Italian automaker’s new direction will likely be the F430 replacement. This new Ferrari, code-named F142, is rumored to arrive towards the end of 2009 or early 2010. The vehicle will start out by weighing less than the F430, even the extra lightweight Scuderia model that tips the scales at 1250 kg. The Italian exotic could share technology and styling cues with the eco-friendly Mille Chili concept (above)from a year ago, which utilized lightweight and active aerodynamics to help reduce its CO2 emissions.

The F430’s venerable 4.3L V8 is also rumored to be shrinking, but since it will still don the prancing horse, we’re pretty sure it won’t lose much in the way of power. CAR Magazine believes that Ferrari has turned to direct injection and turbocharging to make up for any loss in the new engine’s displacement. The F142 also won’t have a soft-top Spyder option, instead for a psuedo-convertible setup with hard panels. New Ferrari models don’t typically decrease in price, and with all this added technology the price of the F142 is expected to easily exceed that of the F430. Ferrari wants to reduce emissions by 40% by 2012, and with lighter materials and a smaller engine, the F142 could be the Italian supercar the Sierra Club has been waiting for.

[Source: CAR Magazine]

• SEE ALSO: Honda Buyers Guide

• SEE ALSO: ALL HONDA ARTICLES

TOKYO, JPN. October 28, 2008: Honda Motor Co., Ltd. today announced its consolidated financial results for the fiscal second quarter and the fiscal first half ended September 30, 2008.

Second Quarter Results

Honda’s consolidated net income for the fiscal second quarter ended September 30, 2008 totaled JPY 123.3 billion (USD 1,191 million), a decrease of 40.9% from the same period in 2007. Basic net income per common share for the quarter amounted to JPY 67.96 (USD 0.66), a decrease of JPY 46.98 from JPY 114.94 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated net sales and other operating revenue (herein referred to as “revenue”) for the quarter amounted to JPY 2,826.8 billion (USD 27,294 million), a decrease of 4.9% from the same period in 2007, resulting primarily from currency translation effects. Honda estimates that if calculated at the same exchange rate as the corresponding period in 2007, revenue for the quarter would have increased by approximately 1.7%.

Consolidated operating income for the quarter totaled JPY 148.8 billion (USD 1,437 million), a decrease of 48.0%, due primarily to increased SG&A expenses, the negative impact of currency effects caused by the appreciation of the Japanese yen, the negative impact of decreased revenue, model mix, etc. and increased raw material costs, despite continuing cost reduction efforts.

Consolidated income before income taxes, minority interest and equity in income of affiliates for the quarter totaled JPY 149.4 billion (USD 1,443 million), a decrease of 44.6% from the same period in 2007.

Equity in income of affiliates amounted to JPY 27.2 billion (USD 263 million) for the quarter, an increase of 4.0% from the corresponding period last year.

Business Segment

With respect to Honda’s sales for the fiscal second quarter by business segment, motorcycle unit sales totaled 2,893 thousand units, an increase of 24.0% from the same period last year. Unit sales in Japan totaled 79 thousand units, a decrease of 26.2% compared to the same period last year. Overseas unit sales was 2,814 thousand units, an increase of 26.4% from the same period in 2007, due mainly to increased unit sales in Asia and Other regions including Brazil and an increase in sales of motorcycle knocked-down parts for local production at Asian affiliates accounted for under the equity method in Indonesia and India. Revenue increased 5.1%, to JPY 401.0 billion (USD 3,873 million) from the same period last year, due mainly to increased sales in Asia and other regions including Brazil, offsetting negative currency translation effects. Operating income was JPY 46.3 billion (USD 448 million), an increase of 25.4% from the same period last year, due mainly to the positive impact of increased revenue, model mix, etc. and continuing cost reduction efforts, more than offsetting increased raw material costs.

Honda’s automobile unit sales totaled 935 thousand units, approximately the level of the same period last year. In Japan, unit sales amounted to 152 thousand units, an increase of 6.3% from the same period last year. Overseas unit sales decreased 1.4% to 783 thousand units from the corresponding period last year, due mainly to weak demand for light trucks in North America and decreased unit sales in Europe, more than offsetting an increase of unit sales in Asia and other regions including Brazil and increased sales of automobile knocked-down parts for local production at Chinese affiliates accounted for under the equity method. Revenue decreased 7.9% to JPY 2,170.6 billion (USD 20,958 million) from the same period in 2007, due mainly to the negative impact of currency translation effects and decreased overseas unit sales. Operating income decreased 62.9% to JPY 79.0 billion (USD 763 million) from the same period last year, due primarily to the negative impact of decreased revenue, model mix etc., the negative currency effects caused by the appreciation of the Japanese yen, increased SG&A expenses and increased raw material costs, more than offsetting continuing cost reduction efforts.

Revenue from customers in the financial services business increased 18.5% to JPY 158.5 billion (USD 1,531 million) from the same period in 2007, due mainly to an increase in operating lease revenues. Operating income decreased 17.1% to JPY 24.3 billion (USD 235 million) from the same period in 2007, due primarily to the increased provision related to credit losses and allowance for losses on lease residual values, and the negative currency effects caused by the appreciation of the Japanese yen, despite increased revenue.

Honda’s power product unit sales totaled 1,202 thousand units, a decrease of 4.5% from the same period in 2007. In Japan, unit sales totaled 146 thousand units, an increase of 3.5% from the same period last year. Overseas unit sales totaled 1,056 thousand units, a decrease of 5.5% from the corresponding period last year, due primarily to a decline of unit sales of general-purpose engines for OEM* production in North America and Europe. Revenue in the power product and other businesses decreased by 2.8% to JPY 96.6 billion (USD 933 million) from the same period last year, due mainly to decreased unit sales of power products. Operating income decreased JPY 7.8 billion from the same period in 2007, to record operating loss of JPY 924 million (USD 9 million). This was primarily due to increased R&D expenses of other businesses and the negative impact of decreased revenue, model mix, etc.

Geographical Information

With respect to Honda’s sales for the fiscal second quarter by geographic area, in Japan, revenue for domestic and exports sales amounted to JPY 1,193.5 billion (USD 11,524 million), down 1.8% compared to the same period last year, due primarily to decreased export sales in automobile business. Operating income totaled JPY 40.9 billion (USD 395 million), down 44.2% from the same period last year due primarily to the negative impact of the currency effects caused by the appreciation of the Japanese yen, the negative impact of decreased revenue, model mix, etc., increased raw material costs and increased depreciation expenses, more than offsetting continuing cost reduction efforts and decreased SG&A expenses.

In North America, revenue decreased by 12.0% to JPY 1,370.0 billion (USD 13,228 million) from the same period in 2007 due mainly to the negative impact of the currency translation effects, decreased revenue in automobile business and decreased unit sales in all of the business segments. Operating income decreased by 80.6% to JPY 22.5 billion (USD 217 million) from the same period last year due primarily to increased SG&A expenses, the negative impact of currency effects caused by appreciation of the Japanese yen, the negative impact of decreased revenue, model mix, etc., increased raw material costs and the increased provision related to credit losses and allowance for losses on lease residual values, more than offsetting continuing cost reduction efforts.

In Europe, revenue decreased by 10.3% to JPY 350.7 billion (USD 3,386 million), from the same period in 2007 due primarily to the negative impact of currency translation effects and decreased revenue in automobile business. Operating income decreased by 50.5% to JPY 8.3 billion (USD 80 million) from the same period last year due primarily to the negative impact of decreased revenue, model mix, etc., increased SG&A expenses and increased raw material costs, despite continuing cost reduction efforts.

In Asia, revenue increased by 8.7% to JPY 451.8 billion (USD 4,363 million) from the same period last year due to increased revenue in all business segments, offsetting the negative impact of the currency translation effects. Operating income increased by 9.6% to JPY 36.6 billion (USD 354 million) from the corresponding period last year due mainly to the positive impact of increased revenue, model mix, etc., more than offsetting the negative impact of currency effects caused by appreciation of the Japanese yen and increased SG&A expenses.

In Asia, in addition to subsidiaries, many affiliates accounted for under the equity method manufacture and sell Honda-brand products. Operating income does not include income from these affiliates. Income from these affiliates is recorded as equity in income of affiliates and reflected in net income. Accounting terms of some of the affiliates differ from the Company’s.

In other regions such as Latin America, Middle East, Africa and Oceania, revenue increased by 30.5% to JPY 349.5 billion (USD 3,375 million) compared to the same period last year, due mainly to increased revenue in all business segments. Operating income increased by 61.7% to JPY 48.7 billion (USD 471 million) from the corresponding period in 2007 due mainly to the positive impact of increased revenue, model mix, etc. and the positive currency effects caused by the depreciation of the Japanese yen, more than offsetting increased SG&A expenses.

United States dollar amounts have been translated from yen solely for the convenience of the reader at the rate of JPY 103.57 = U.S.$1, the mean of the telegraphic transfer selling exchange rate and the telegraphic transfer buying exchange rate prevailing on the Tokyo foreign exchange market on September 30, 2008.

First Half-Year Results

Honda’s consolidated net income for the fiscal first half year ended September 30, 2008 totaled JPY 302.9 billion (USD 2,925 million), a decrease of 19.1% from the same period in 2007. Basic net income per Common share for the period amounted to JPY 166.94 (USD 1.61), a decrease of JPY 39.32 from JPY 206.26 for the same period in 2007.

Consolidated revenue for the period amounted to JPY 5,694.0 billion (USD 54,978 million), a decrease of 3.5% from the same period in 2007, primarily due to currency translation effects. Honda estimates that if calculated at the same exchange rate as the same period in 2007, revenue for the quarter would have increased by approximately 4.4%.

Consolidated operating income for the period totaled JPY 370.1 billion (USD 3,574 million), a decrease of 27.1% compared to the same period in 2007. This decrease in operating income was primarily due to the negative currency effects caused by the appreciation of the Japanese yen, increased SG&A expenses and increased raw material costs, more than offsetting the positive impact of higher transaction price and continuing cost reduction efforts.

Consolidated income before income taxes, minority interest and equity in income of affiliates for the period totaled JPY 384.5 billion (USD 3,713 million), a decrease of 21.2% from the same period in 2007.

Equity in income of affiliates amounted to JPY 65.4 billion (USD 632 million) for the period, an increase of 3.5% from the same period in 2007. Equity in income of affiliates set a record high for the fiscal first half.

Business Segment

With respect to Honda’s sales for the fiscal first half by business segment, unit sales of motorcycles totaled 5,608 thousand units, an increase of 22.3% from the same period in 2007. Unit sales in Japan totaled 137 thousand units, a decrease of 28.3%. Overseas unit sales was 5,471 thousand units, an increase of 24.5%, due mainly to the increased units sales of motorcycle knocked-down parts for local production at Honda’s affiliates accounted for under the equity method in Asia. Revenue increased 5.9%, to JPY 794.1 billion (USD 7,668 million) from the same period in 2007, due mainly to increased revenue in Asia and Other Regions including Brazil, despite the negative currency translation effects. Operating income increased by 13.8 % to JPY 77.5 billion (USD 749 million) from the same period in 2007, due mainly to the positive impact of increased revenue, model mix, etc., which more than offset increased SG&A expenses and the negative currency effects caused by the appreciation of the Japanese yen.

Honda’s unit sales of automobiles was 1,897 thousand units, increased by 0.7% from the same period in 2007. In Japan, unit sales totaled 280 thousand units, approximately the same level of the same period in 2007. Overseas unit sales increased 0.8% to 1,617 thousand units, due mainly to the increased unit sales in Asia and other regions including Brazil. Revenue decreased 6.1% to JPY 4,398.6 billion (USD 42,470 million) from the same period in 2007, due to the negative impact of the currency translation effects, more than offsetting increased overseas unit sales. Operating income decreased 33.5% to JPY 240.2 billion (USD 2,320 million) from the same period in 2007, primarily due to the negative currency effects caused by the appreciation of the Japanese yen, increased SG&A expenses and increased raw material costs, which more than offset the positive impact of model mix, etc., continuing cost reduction efforts and decreased R&D expenses.

Revenue in financial services business increased 17.2% to JPY 304.3 billion (USD 2,938 million) from the same period in 2007, due mainly to the increased operating lease revenues, despite negative currency translation effects. Operating income decreased 16.4% to JPY 53.0 billion (USD 513 million) from the same period in 2007, due mainly to the increased provision related to credit losses and allowance for losses on lease residual values, which more than offset the increased revenue.

Honda’s unit sales of power products was 2,541 thousand units, down by 8.8 % from the same period in 2007. In Japan, unit sales totaled 305 thousand units, an increase of 10.5%. Overseas unit sales decreased 11.0%, to 2,236 thousand units, due mainly to the declined unit sales in North America and Europe. Revenue in power product and other businesses decreased by 5.8% to JPY 196.9 billion (USD 1,902 million) from the same period in 2007, due mainly to decreased unit sales in power product business. Operating income decreased JPY 15.6 billion from the same period in 2007, to record operating loss of JPY 715 million (USD 7 million), due mainly to the negative impact of decreased revenue, model mix, etc. and increased R&D expenses of other businesses.

Geographical Information

With respect to Honda’s sales for the fiscal first half by geographical segment, in Japan, revenue for domestic and exports sales was JPY 2,343.1 billion (USD 22,624 million), down by 2.0% compared to the same period in 2007, due primarily to decreased revenue in motorcycle and automobile businesses in Japan. Operating income was JPY 78.8 billion (USD 761 million), down by 41.2% from the same period in 2007, due primarily to the negative currency effects caused by the appreciation of the Japanese yen, decreased revenue and increased raw material costs, which more than offset continuing cost reduction efforts, decreased SG&A expenses and decreased R&D expenses.

In North America, revenue decreased by 8.8% to JPY 2,863.2 billion (USD 27,645 million) from the same period in 2007, due mainly to the negative impact of the currency translation effects and decreased revenue in automobile business. Operating income decreased by 45.0% to JPY 117.1 billion (USD 1,131 million) from the same period in 2007, mainly due to the negative currency effects, increased SG&A expenses and increased raw material costs, more than offsetting the positive impact of model mix, etc. and continuing cost reduction efforts.

In Europe, revenue decreased by 9.6% to JPY 715.2 billion (USD 6,906 million) compared to the same period in 2007, due primarily to the negative impact of the currency translation effects. Operating income decreased by 27.6% to JPY 19.5 billion (USD 189 million) from the same period in 2007, due mainly to increased SG&A expenses and the negative currency effects caused by the appreciation of the Japanese yen, more than offsetting continuing cost reduction efforts.

In Asia, revenue increased by 9.8% to JPY 888.0 billion (USD 8,575 million) from the same period in 2007, due primarily to the increased revenue in all of the business segments, which offset the negative impact of the currency translation effects. Operating income increased by 20.7% to JPY 84.9 billion (USD 820 million) from the same period in 2007, due mainly to the positive impact of increased revenue, model mix and continuing cost reduction efforts, more than offsetting the negative currency effects caused by the appreciation of the Japanese yen and increased SG&A expenses.

In other regions, revenue increased by 30.2% to JPY 643.3 billion (USD 6,212 million) compared to the same period in 2007, due mainly to the increased revenue in all of the business segments. Operating income increased by 63.9% to JPY 85.1 billion (USD 822 million) from the same period in 2007, due mainly to the positive impact of increased revenue, model mix and the positive currency effects caused by the appreciation of the Japanese yen, despite increased SG&A expenses.

Posted Oct 28th 2008 10:56AM by Dan Roth
Filed under: Car Buying, Coupes, Sports/GTs, Plants/Manufacturing, Chevrolet

Click above for high-res gallery of the 2010 Chevy Camaro

Chevrolet has reportedly taken more than 6,000 orders for its new Camaro so far, and why not? The car is great looking, excitement is high, and fuel prices have eased up a bit. You’d think that the prior spike in the cost of fuel would still be fresh on everyone’s mind, thus making the V6 a popular choice. Wrongo. While the V6 has similar lip-smackingly great styling, and won’t be a slowpoke, it seems that everyone wants that small block rhythm thumping away under the hood of their neo-ponycar. 84% of orders have been for V8-powered SS models so far, which may mean a longer wait for delivery since GM is likely building a very different ratio of V8 to V6 models. Thanks for the tip, Doug!

Gallery: 2010 Chevrolet Camaro

[Source: Camaro5]

Bond is all about the Aston Martin, and now that Ford has sold the British brand, it may be having a its own bit of regret for missing out on the promotional material. Possibly to get over its quantum of solace, the Ford Ka will be featured in the new James Bond flick, ‘Quantum of Solace’ (U.S. premiere November 14th).

Unfortunately for Ford, it isn’t Bond piloting its little car, but instead the ubiquitous feisty sidekick/sex toy. But Ford is still taking the time to do plenty of shameless promotion. The actress in the movie Olga Kurylenko is having a series of promotional programs highlighting he career so far, and Ford wants you to know because she will also be likely seen with her Ka. If you’re still interested hit the jump for the press release and more info.

General Motors announced that it has already received 6000 orders for the new 2010 Camaro. This impressive considering that first cars won’t even hit the streets until the first quarter of 2009. The large presale may make GM rethink its initial annual run of 20,000 Camaros.

From all the orders 84% are for the V8 equipped SS version. We can only hope that this interest in V8s may make Chevrolet reconsider a special run for the Camaro Z28.

The Camaro SS is equipped with a 6.2-liter V-8 making between 400 hp (automatic) and 422 hp (manual) depending on transmission. The 3.6-liter V6 engine used in the LS and LT trims is rated at 300 hp. Prices start from $22,995 MSRP for the V-6-powered LS model, and $30,995 for the V-8-powered Camaro SS.

Auto Express Car Reviews

28th October 2008

Cramming four seats into the three-metre-long iQ was a result of clever design, Toyota has said as it revealed first details of the car’s mechanicals. The gearbox differential, for example, was placed in front of the engine, not behind it – reducing the front overhang and the iQ’s length!

SCHWABACH – October 28, 2008: Hot camshafts? In the age of chip tuning, that sounds like a relic of the Eighties. Incorrectly, as there is not much extra power to be gained electronically from a naturally aspirated engine. Mechanical measures continue to be the first choice there, and more effective than ever before in combination with an adjustment of the engine management. One particularly successful example is the C 350 Limousine from Sportservice Lorinser, an almost irresistible temptation for everyone with petrol in their blood: special camshafts and a modified engine control unit kindle here far more fire than the series version of the extremely successful 3.5-litre V6. 305 HP (224 kW) instead of 272 HP (200 kW) are an end result that can be more than seen in a non-charged engine, especially since the fast Mercedes accelerates powerfully with 380 instead of 350 Nm, even at very low RPM. As a result of the tuning measure, the interval between opening the exhaust valve and closing the intake valve becomes bigger. The result is a “hot” overlap, which is where the camshaft modification gets its name from. On the other hand, the Lorinser lowering kit is responsible for the “hot” handling in the bend. An additional bonus in the driving-fun account.

Digital or analogue? Music fans may argue about this point, but not car enthusiasts.. Of course, the Lorinser sports exhaust system plays music purely mechanically, and develops such a crescendo when the accelerator pedal is pushed enthusiastically that even eardrums get goosebumps. But the optical charms of the C-Class also easily arouse the desire to own one. Is it the well-designed exhaust tailpipes integrated into the Lorinser rear apron that the sporty roof and rear spoiler soar above? The muscular side sills or the striking front apron? An abundance of details that add up to a fascinating automobile. The model RS 8 matt black 19-inch light-alloy wheels draw attention to themselves as they provide exciting contrasts in combination with the white bodywork colour. An additional stylish alternative is the silver-coloured light-alloy wheel RS 9 from the Lorinser assortment. An offer that repeatedly proves in its totality that the Winnenden customiser won’t be losing steam any time soon when it comes down to stirring up passions for automobiles.

AACHEN/INGOLSTADT – October 28, 2008: In its third appearance in the “Excellence in Production “ competition, the Toolmaking Division of AUDI AG has once again received a renowned award. Voted as “Toolmaker of the Year” in 2004 and 2006, Audi Toolmaking beat 30 other contestants to win first place in the “Internal Toolmaking over 100 Employees” category again this year.

“This award is proof that our division continues to lead the way. In addition to clear strategic alignment, our success is based on efficient processes and above all else the technical competence of our employees,” says Frank Dreves, Member of the Board of Management for Production of AUDI AG. The jury praised Audi Toolmaking’s well-conceived, future-oriented strategy and concrete long-term goals as special strengths. They also highlighted the fact that Audi is already preparing for future demographic development by implementing appropriate personnel development measures on all qualification levels.

“Above all else, this success is a product of our joint efforts,” said Michael Breme, Head of Toolmaking at the Ingolstadt site. “We have highly skilled and very flexible employees at our sites – they are the secret to the Toolmaking Division’s success.”

At present, the division has a workforce of nearly 1,700 employees: approximately 900 in Ingolstadt, 400 in Neckarsulm, 370 in Györ and 25 in Barcelona. The division generated approximately EUR 400 million in revenue in the past fiscal year.

Audi Toolmaking covers the entire metal panel production chain and has established itself as a strategic supplier. The Volkswagen Group designated Audi Toolmaking a Center of Excellence in November 1996. The Toolmaking Division functions like an independent enterprise within AUDI AG. It is success-driven and deadline-oriented.

The award is an initiative from the Laboratory for Machine Tools and Production Engineering (WZL) at RWTH Aachen, the Fraunhofer Institute for Production Technology (IPT) and the Verband Deutscher Maschinen- und Anlagenbau (VDMA), a German mechanical and plant engineering association. The nine finalists are selected based on a detailed comparison of more than 320 toolmaking and mold manufacturing companies. Eleven expert jurors from the fields of industry, politics and science choose the winner. The Excellence in Production competition was held for the fifth time this year.