Auto Events

MILAN (Bloomberg) -- Fiat CEO Sergio Marchionne can't stop the financial bleeding in Europe, so he's shifting the automaker's growth and profit focus to Chrysler Group in the United States.

Marchionne, who has been spearheading an industrywide effort to cut excess assembly lines in Europe, vowed to close a second Italian factory, after shuttering one last year, unless he finds a way to export cars to the United States.

"We need to coordinate the efforts; otherwise somebody is going to pay a huge price for it," Marchionne said in a conference call with analysts yesterday. "The European market is now heading for a fifth-straight year of decline; we are now seeing levels in the Italian market which has not been since 1979," he added, citing "irrefutable evidence of market decay."

For Marchionne, the potential flow of cars from Europe to North America would follow the money. Capital spending at Chrysler, which Marchionne also runs, will rise to $4 billion this year from $3.1 billion in 2011, while Fiat is reducing European investment by 500 million euros this year.

Chrysler plans to raise its full-year profit forecast after the third quarter and doesn't expect a slowdown in the second half.

"Marchionne's strategy to bet on North America as Europe stalls make sense as things stand now," Emanuele Bosio, CEO of Italian car-parts maker Sogefi, said in a phone interview. "We are bullish on North America, and we don't expect the European market to return anytime soon to pre-crisis level."

Sogefi plans to boost revenue from outside Europe to 50 percent in 2015 from 30 percent last year as it expands in North America, Bosio said.

Mazda's New Flagship Model Fully Incorporates Both SKYACTIV TECHNOLOGY and the KODO "SOUL OF MOTION" Design Theme

HIROSHIMA, Japan - Mazda Motor Corporation will hold the world premiere of the all-new Mazda6 sedan (known as Mazda Atenza in Japan), totally redesigned for the first time in five years, at the 2012 Moscow Motor Show. The Moscow Motor Show begins August 29 and runs through to September 9, 2012.

The new Mazda6 is the second of Mazda's new generation of products, which incorporate both the full range of SKYACTIV technologies and the new KODO "SOUL OF MOTION" design language. It will also be the first model equipped with Mazda's brake energy regeneration system, i ELOOP. The introduction of i-ELOOP marks stage two of Mazda's Building Block Strategy for environmental technology development. The strategy calls for thorough improvements in base automotive technologies before the step-by-step introduction of electric devices to improve fuel economy and reduce carbon emissions.

The new Mazda6 draws on the best of Mazda's technical expertise and craftsmanship across all domains, from dynamic performance and design, through to environmental performance and safety. It stands as the flagship model for a new generation of Mazda products. It features a sense of dignity, style, luxury feel and comfort expected from a vehicle in the CD segment whilst offering the pleasure of responsive and agile driving, which is at the core of the Mazda brand.

The model to be exhibited at the Moscow Motor Show is a Russian specification sedan equipped with a direct-injection SKYACTIV-G 2.0 gasoline engine and six-speed SKYACTIVDRIVE automatic transmission.

Lexus RX Hybrids to be Made in Cambridge, Ontario; 400 new jobs

Toyota Production Capacity in Canada to Climb To 500,000

CAMBRIDGE, ON - Toyota Motor Manufacturing Canada Inc. (TMMC) announced today that it will invest more than $100 million and hire approximately 400 employees to increase Lexus RX production at its Cambridge, Ontario facility. Overall Lexus RX capacity will increase by 30,000 vehicles to 104,000 units, including 15,000 RX450h vehicles, the hybrid electric version of the popular Lexus. The investment will take Toyota's annual production capacity in Canada to 500,000 units.

This is the second major investment announcement for Toyota's Canadian manufacturing operation this year.  In March, TMMC announced an investment of $80 million in its Woodstock, ON plant.  Today's announcement increases Toyota's direct job creation in Canada this year to 800 new jobs for a total of 7,300.

"For almost nine years now, Canada has had the only Lexus production outside of Japan," observed TMMC Chairman Ray Tanguay. "New jobs, along with new technology, is great news for Canada."

Toyota is targeting early 2014 for expanded Lexus production. "This is a big and ambitious project with new technology, exacting standards and tight timelines," commented TMMC President, Brian Krinock. "Our Team Members have demonstrated time and time again that they thrive on these kinds of challenges."

In 2011, the Governments of Canada and Ontario partnered with Toyota on a multi-project suite of initiatives designed to sustain and grow Toyota's manufacturing footprint in Canada and encourage the production of greener, more fuel-efficient vehicles.

"Our government's top priority is creating jobs, growth and long-term prosperity, and we are pleased to see Toyota expanding production at its Cambridge facility," said the Honourable Christian Paradis, Minister of Industry. "Canada is a great place to build vehicles, and we will continue to encourage investment by providing tax relief, eliminating tariffs on machinery and equipment, and creating an environment that promotes innovation, research and development."

Ontario's Minister of Economic Development and Innovation, Brad Duguid, commented, "Our government understands the critical role of manufacturing in the Province's development and growth. Toyota's announcement strengthens Ontario's position as North America's leading jurisdiction for automotive assembly."

Two Subaru dealers compete and raise money for Ronald McDonald Houses across Canada.

MISSISSAUGA –Subaru Canada, Inc. (SCI) is pleased to announce its participation in the Rally for the Kids Challenge at the 11th Annual Targa Newfoundland, the week-long motorsport challenge that starts September 8, 2012 in St. John’s, Newfoundland.

For the third consecutive year, Mike Davenport of Davenport Subaru in Orillia, Ontario, and Jon Howard of Capital Subaru in St. John’s, Newfoundland, will compete against each other at this year’s Targa Newfoundland. At the same time, the duo will raise money together for a great cause, the Rally for the Kids Challenge. 

Last year’s Challenge raised over $60,000 for charities in Ontario and eastern Newfoundland. This year, all proceeds will support local Ronald McDonald Houses as Davenport Subaru raises funds for RMH Toronto and Capital Subaru fundraises for RMH Newfoundland and Labrador. 

Subaru Canada is a proud supporter of Ronald McDonald House Toronto and is pleased to announce that it will match funds up to $30,000 nationally for this very worthwhile cause.

“We’re proud to donate a vehicle to RMH Toronto for out-of-town families with seriously ill children to use during their stay at the House as well as sponsor a bedroom in the House,” said Shiro Ohta, president and CEO of Subaru Canada. “But we’ve also seen that our employees from head office are eager to contribute through programs such as Home for Dinner and internal dress-down jeans days, benefitting the House. We’re thrilled to support this remarkable effort from two of our dealers and we encourage our dealer network to do the same.” 

In order to help the Rally for the Kids Challenge meet their overall goal of raising $100,000, Subaru Canada has opened up this opportunity to its dealer network nationwide. Subaru dealers will be able to make a difference in their own communities as contributions will directly support the Houses in closest proximity to their dealerships. 

Ronald McDonald Houses are a community House, each one is independently operated and relies on active contributions and support from individual donors, corporations and charitable groups in their communities. Support from events like the Rally for the Kids Challenge will help Ronald McDonald Houses provide more than 10,000 families of seriously ill children with a safe and comfortable place to stay that is just steps from the hospital where their child is undergoing life-saving medical treatment. 

“We are truly grateful to have Targa Newfoundland and Subaru Canada supporting Ronald McDonald Houses across Canada,” said Cathy Loblaw, President and CEO of Ronald McDonald House Charities Canada. “Events like Rally for the Kids Challenge will provide much needed funding to allow Ronald McDonald Houses to provide the sanctuary of home to out-of-town families of critically ill children, and help our Houses double the number of families they serve a year to 20,000.  During the most difficult time in a family’s life, the Houses help make daily life easier so that families can focus on their sick child while they receive hospital treatment.”  

The Challenge has already experienced a successful kick-off with over $50,000 currently raised. More fundraising events are planned in both regions throughout the summer as both dealers prepare to compete in the upcoming Targa motorsport event. 

Owned and operated by Newfoundland International Motorsports Limited, Targa Newfoundland is one of three internationally recognized Targa motorsports events in the world. The competition will begin and end in St. John’s, covering more than 2,000 kilometres of the challenging, twisty roads of the central and eastern portion of Newfoundland, including up to 450 kilometres of closed-road, flat-out Targa stages.