News Archives

Archives (15 August 2006)

Lookers to buy ten dealerships from H R Owen plc
Lookers plc has announced a conditional agreement to acquire ten franchised dealerships from H R Owen plc, comprising two Chrysler Jeep sites at Hatfield and Romford, two Lexus sites at Hatfield and Brighton, two Land Rover sites at Acton and South Kensington, and four Mercedes-Benz sites at Brighton (includes Smart), Eastbourne, Gatwick and Redhill.

Completion is expected to take place by the end of August 2006 and is subject to approval by the shareholders of H R Owen and receipt by Lookers of landlords' consent to the assignment of the leaseholds of the properties.

The acquisition price, payable in cash, will be £5.0 million in goodwill and about £8.1 million of fixed assets, together with an amount equal to the net book value of stocks at completion.

The acquisition is expected to add approximately £175 million to Lookers' annual turnover. In the year ended 31 December 2005 the businesses concerned generated operating profit of approximately £1.8million. The gross assets to be acquired relating to the businesses were worth £34.6million at 31 December 2005.

Lookers' bought six Ford Premier Automotive Group ('PAG') dealerships from H R Owen in February this year, and it says the new acquisitions significantly improve its mix of prestige brands, including the addition of Mercedes-Benz to Lookers' franchise portfolio.

Source : http://www.autoindustry.co.uk (8/14/2006)

ThyssenKrupp reports highest quarterly profit in since merger
In the third quarter of fiscal year 2005/06, ThyssenKrupp achieved its highest-ever quarterly income before taxes, of €806 million (fiscal year 2004/2005: €577 million). Order intake from continuing operations reached €12.4 billion, 18% higher than the same quarter a year earlier. Sales from continuing operations improved by 8% to €12.1 billion. Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG said: "We expect the generally positive business performance to continue in the further course of the year. For fiscal year 2005/2006 we plan sales of €46 billion."

Source : http://www.autoindustry.co.uk (8/14/2006)

Coast Distribution System Increases Quarterly Cash Dividend to $0.07 Per Share and Declares Third Quarter 2006 Cash Dividend
MORGAN HILL, Calif., PRNewswire-FirstCall/ -- The Coast Distribution System, Inc. , one of North America's largest suppliers of aftermarket replacement parts, accessories and supplies for the recreational vehicle (RV) and marine industries, today announced that its Board of Directors has approved an increase in the Company's regular quarterly cash dividend to $0.07 per share, or $0.28 per year. At the same time, the Board of Directors declared the cash dividend for its third fiscal quarter of 2006, in the amount of $0.07 per share in cash, which will be paid on September 8, 2006 to all stockholders of record as of August 24, 2006.

"The increase in the quarterly cash dividend reflects our continued financial strength and increased earnings, our optimism about Coast's future financial performance and our desire to reward our stockholders for their loyalty and support," stated Thomas R. McGuire, Chairman and CEO of Coast. "As a Company, we are committed to maximizing the value of our stockholders' investment in Coast."

The Company also announced that, at the 2006 Annual Meeting held on August 10, 2006, the Company's stockholders re-elected Thomas R. McGuire and Ben A. Frydman to serve as the Company's Class III Directors for a term of three years, and approved the Stockholders Rights Plan that was adopted by the Board of Directors in February 2006, which means that the Stockholders Rights Plan will continue in effect for the remainder of its three year term ending on February 15, 2009.

Source : http://www.automotive.com (8/14/2006)

Who Would You Give a Volvo To?
IRVINE, Calif., PRNewswire/ -- Who would you give a Volvo to? A 73-year-old Alabama florist serving as a volunteer first-responder? A Wyoming woman devoting a decade to protecting nearby critical habitat from unnecessary development? A 14-year-old Michigan boy managing a clothing drive for needy kids in his school?

These are just a few of the top heroes nominated over the past five years for the Volvo for life Awards -- an annual, nationwide search for real-life heroes across America. This year, in honor of the 5th anniversary of these awards, Volvo has selected the top five heroes from every state -- and published all 250 of their stories online at www.volvoforlifeawards.com.

Now, for the first time in history, Volvo is inviting America itself to serve as one of the Volvo for life Awards judges. From today through February 4, 2007, the American public can visit the Web site, read as many stories as they like, and vote for their favorite heroes online. This democratic vote will decide the finalists in the 5th Anniversary Awards in the categories of Safety, Quality of Life and Environment.

The finalists' nominations will then be narrowed down to three winners by a panel of distinguished judges -- including Hank Aaron, Sen. Bill Bradley, Caroline Kennedy, Maya Lin, Paul Newman, Dr. Sally Ride, Val Kilmer, Eunice Kennedy Shriver and previous Volvo for life Awards top winners. Winners receive a $50,000 charitable contribution from Volvo; finalists receive a $25,000 contribution.

On April 4, 2007, Volvo will fly the winning heroes to New York, where they will be honored at the 5th Anniversary Awards Gala by Volvo and members of the celebrity judging panel. At the climax of the ceremony, Volvo will reveal which of the three top heroes is also the winner of the Grand Award of a Volvo for life -- a lease on a new Volvo every three years for the rest of their lives.

"Over the past five years the Volvo for life Awards has received more than 15,000 hero nominations," said Anne Belec, president and chief executive officer of Volvo Cars of North America. "All of these heroes demonstrate incredible conscience, care and character. We felt the proper way to mark the fifth year of the Volvo for life Awards would be to highlight the top five heroes from every state in America. Having the public help us select the winning heroes is a truly exciting -- and democratic -- addition to this year's program. We look forward to discovering just who 'America's greatest hometown hero' will be."

Source : http://www.automotive.com (8/14/2006)

M&M allots 34,310 shares against FCCB conversion
Mahindra & Mahindra has has allotted 34,310 ordinary shares upon the exercise of conversion option by the bondholder of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 34,310 ordinary shares shall rank pari passu in all respects with the existing ordinary shares of the company.

M&M has posted a profit after tax of Rs 2041.77 million for the quarter ended June 30, 2006 as compared to Rs 1452.63 million for the quarter ended June 30, 2005. This represents a healthy rise of 40.55% in its net profits in the most recent quarter.

Total income (net of excise) has increased by 24.53% to Rs 22,816.92 million for the quarter ended June 30, 2006, from Rs 18,322.3 million for the quarter ended June 30, 2005.

Source : myiris.com (8/14/2006)

Suzuki to launch hot Swift
Suzuki is to launch a hot version of its Swift supermini.

The Swift Sport will go on sale in mid-October, and will be launched at the Paris Motor Show, which begins at the end of September.

Few details have been released, but the car is already on sale in Japan. It's powered by a 125bhp 1.6-litre 16-valve VVT (variable valve timing) engine, and European cars will feature 16-inch alloy wheels, sports seats and twin exhausts.

Expect a 0-62mph time of around 9sec, with a top speed of 125mph.

Suzuki is also planning a new Alto city car to sit beneath the Swift and Splash. It is scheduled for an on-sale date of the end of 2007. A concept version of the car is tipped to make an appearance at the Geneva Motor Show next spring.

• Suzuki has also released pictures of a concept car for an all-new car, similar to the Honda Jazz.

Splash is a multi-purpose vehicle seating up to five people, and has a new 1.2-litre petrol engine linked to a four-speed automatic gearbox.

Source : http://www.whatcar.com (8/14/2006)

Bank Holiday drivers take the strain
Are we nearly there yet? Ah, the joys of travelling on a Bank Holiday: the sun, the sea, the stress...

The August Bank Holiday escape is one of the most stressful times for a driver, according to research by safety management specialist Peak Performance.

The study has revealed five different types of driver and also a plan to help avoid stress.

There's the lone driver, who is used to driving on his or her own and is suddenly faced with a car full of family members, which leads to reduced tolerance behind the wheel.

The tireless drivers puts themselves and their passengers at risk by trying not to stop or have a break, while company car drivers often risk breakdowns by not making simple checks before setting off.

A leisure driver fails to adjust their thinking to cope with the rigours of longer holiday drives, while the 'please yourself' driver who is used to doing what they like suddenly comes into conflict with the opinions of others' in the car.

Peak Performance says the simple ways to avoid stress is to plan your journey, including regular breaks, to check the car over before you leave, and to provide entertainment for passengers, especially children.

The report also recommends allowing plenty of time for your journey and to avoid driving at night or in the early hours of the morning when your body is at its least alert.

Source : http://www.topgear.com (8/14/2006)

Suzuki set for Paris splash
Suzuki will be strutting its stuff on the catwalk of the Paris motor show in September.

The Japanese firm has two cars to wow the crowds with the arrival of the Swift Sport and a concept car called 'Splash'.

The Swift Sport is based on the three-door model and will go on sale in October, although we'll have to wait until the Paris show for prices.

Under the bonnet sits a 1.6-litre engine with 125bhp, which takes the Swift Sport from 0-62mph in 8.8 seconds and on to 124mph.

The Splash is based on the Swift's platform but is set to use four-wheel drive to provide another model in Suzuki's 4x4 line-up.

A tall body provides plenty of cabin space in the Splash, and Suzuki hopes to see how broad an appeal this type of vehicle has.

A new 1.2-litre petrol engine nestles up front and is attached to a four-speed automatic gearbox.

Source : http://www.topgear.com (8/14/2006)

Motorcar Parts of America, Inc. Announces Increased Credit Facility
LOS ANGELES, RNewswire-FirstCall/ -- Motorcar Parts of America, Inc. ("MPA") , a leading remanufacturer of alternators and starters for the automotive aftermarket, announced today that its credit facility with Union Bank of California, N.A. increased from $25.0 million to $35.0 million. The new agreement also increased the minimum fixed charge coverage ratio, increased the maximum leverage ratio and increased the amount of allowable capital expenditures. The facility expires on October 1, 2008.

"MPA has gained market share and expanded our business, requiring additional working capital. Together with our bank, we work to ensure that we have sufficient liquidity to meet our anticipated needs," said Selwyn Joffe, Chairman, President and CEO of MPA.

Source : http://www.automotive.com (8/14/2006)

Tata Motors to raise Rs 30 bn via FCCBs
Leading automobile manufacturer Tata Motors has announced its plans to raise Rs 30 billion from the international or domestic market, reports Financial Express.

The money would be raised through the issue of foreign currency convertible bonds (FCCBs), equity shares, debentures or other securities to domestic or foreign institutions, non-resident Indians, corporate bodies, mutual funds or banks.

A borrowing limit of Rs 75 billion was also approved by the shareholders at the company`s AGM.

Meanwhile, another Tata Group company Tata Steel, which has entered into organised retailing by starting a pilot project called steeljunction, is currently working on a business plan to develop retailing and expand it to other cities.

Tata Steel chief (retail initiatives) Sumit Ray said that the company would take a view on the retail business after one year of operations of the pilot project.

Source : myiris.com (8/14/2006)

Audi Announces U.S. Pricing For 2007 A4 And S4 Cabriolet Models
Audi of America, Inc. today announced pricing for their new 2007 A4 and S4 Cabriolet models. The turbocharged four-cylinder A4 2.0 T Cabriolet starts at $39,100 for FrontTrak models and $41,200 for quattro models. The V6 equipped A4 3.2 Cabriolet starts at $46,950, and the S4 Cabriolet is priced at $55,700 for manual transmission cars and $56,900 for Tiptronic equipped cars. Destination is $720 and is not included in the base price. The 2007 Cabriolets will arrive at showrooms in early September.

For 2007, the A4 and S4 Cabriolet models receive bold new styling that brings them in line with the current Audi design cues. Most noticeable is the signature Audi single-frame grille. 2007 A4 Cabriolet models also receive new engine and drivetrain combinations. The 200 hp 2.0 T models have a turbocharged four-cylinder FSI direct injection engine. The A4 2.0 T Cabriolet can be equipped with either a Multitronic continuously variable transmission and FrontTrak, or with a six-speed Tiptronic automatic transmission and quattro all-wheel drive.

A4 3.2 Cabriolets are equipped with a 255 hp V6 FSI direct injection engine. A six-speed Tiptronic automatic transmission and quattro all-wheel drive are standard. S4 models have Audi's lauded 4.2-liter V8 engine making 340 hp, and can be mated to a six-speed manual or Tiptronic automatic transmission. Both versions come with quattro all-wheel drive. All three engines are recent winners of the Ward's Ten Best Engines award.

A4 Cabriolet models have a completely revised suspension system that uses components from the sporty S4 and luxurious A6 model lines. Steering components are now shared with the S4 models, and the brake systems have been revised. Everything that makes the A4 stop, go, and turn and been redesigned, and helps the 2007 A4 Cabriolet to have a smoother ride, yet provide for crisper handling.

Source : Motor Trend (8/15/2006)

ThyssenKrupp to sell North American body and chassis business
ThyssenKrupp Steel AG and ThyssenKrupp Stainless AG issued a news release on 11 August confirming a plan to jointly build a new plant in the USA with a project development budget of US$50 million, and outlining the planned restructuring of the group's automotive activities.

The North American body and chassis businesses (which have sales of around €1 billion and 4,000 employees) are to be sold. Discussions are currently underway with potential buyers. As part of the reorganisation, the ThyssenKrupp Automotive and ThyssenKrupp Technologies segments are to be merged effective from 1 October 01, 2006, subject to the approval of the responsible boards. As a result, the ThyssenKrupp Group will then be organized into five segments - Steel, Stainless, Technologies, Elevator and Services.

As part of the merger of ThyssenKrupp Automotive and ThyssenKrupp Technologies, their head offices will also be combined in Essen. Discussions will be held with the relevant bodies about the consequences for the employees concerned, especially those from the Bochum location, with the objective of avoiding redundancies.

Dr. Wolfram Mörsdorf, member of the Executive Board of ThyssenKrupp AG and currently responsible for the Automotive segment, will in the future assume responsibility for the Mechanical Components business of the Technologies segment. To this end, he is to be appointed Vice Chairman of the Executive Board of ThyssenKrupp Technologies AG. His seat on the Executive Board of ThyssenKrupp AG remains unaffected by this. Dr. Olaf Berlien will remain Executive Board Chairman of ThyssenKrupp Technologies AG.

- Central to the plans for ThyssenKrupp's US greenfield steel plant project is the construction of a hot strip mill which will be used primarily to process slabs from a new CSA steel mill in Brazil. The new plant will also feature cold rolling and hot-dip coating capacities for high-quality end products of flat carbon steel. ThyssenKrupp Steel's investment in the plant, which will have an annual capacity of 4.5 million metric tons of end products, is estimated at €1.8 billion.

Three potential locations have now been identified in the south-eastern US states of Alabama, Arkansas and Louisiana.

In the next few days, ThyssenKrupp's Executive Board will continue negotiations on the acquisition of the Canadian steel producer Dofasco. In January 2006, ThyssenKrupp signed an agreement with Mittal Steel Company N.V. under which Mittal Steel undertook to sell Dofasco to ThyssenKrupp AG in the even of a takeover of Arcelor.

Source : http://www.autoindustry.co.uk (8/14/2006)

Children have a bigger say in car buying decisions - Experian/Future Foundation survey
Children as young as eight now influence families' car buying choices, according to Experian, quoting consumer research conducted by Future Foundation, an Experian company, which identified four key factors that determine car purchases:

The family influence

There are now few households where men alone have the sole task of deciding what car is to be purchased. Women now have a bigger influence and children over the age of eight are also consulted more for their opinion, which was never the case in the past.

The lifestyle factor

In addition, lifestyles have changed significantly over the years. With an increase in divorce, second marriages and single parents, lifestyles are more volatile and can no longer be pigeonholed into simply age groups, as was previously the case. Despite this, many motor retailers still target potential customers by categorising them in this way.

Wealth

Wealth is another key factor, with consumers more affluent than ever before. Average incomes are now 50% higher than it was 15 years ago. Yet, according to Future Foundation's research, despite having more money consumers are more focused than ever before on price - expecting higher standards and greater value for money. With average income expected to increase by 50% over the next 15 years, the industry can expect consumer demands to intensify.

The perception of cars has also changed. In the past, cars were considered a luxury commodity, only bought by those who could afford them. However, almost anyone can buy a car these days and with more and more people owning cars, they are no longer classed as luxury items.

The Internet

The Internet is now at the heart of the car purchasing decision. While less than 2% of consumers have bought a car online, over 60% of car buyers compare cars online before parting with their cash.

Rob Whalley, Managing Director of Experian's Automotive division, said: "The trends highlighted by Future Foundation show why there is a real need for motor retailers to become more adept at running targeted marketing campaigns. Instead of simply categorising people by age, dealers need to understand more about who and where their potential customers are, not only in terms of looking for new prospects, but also by looking internally to their existing customer base. Ongoing data cleansing programmes should be employed to ensure data is up-to-date, so money isn't wasted on mailing unprofitable or non-existent customers."

Source : http://www.autoindustry.co.uk (8/14/2006)

Fin O'Neill To Be CEO of Reynolds and Reynolds Following Merger With UCS
DAYTON, Ohio, PRNewswire-FirstCall/ -- The Reynolds and Reynolds Company and Universal Computer Systems, Inc. (UCS), today announced that Fin O'Neill will be Reynolds' chief executive officer following its merger with UCS.

"There is no question as to who will be the boss: our customers," O'Neill said. "I am eager to show Reynolds' customers that Reynolds will continue to be Reynolds. I am delighted to lead the combined company and to continue to deliver on the Reynolds brand promise of having a singular Focus on customer needs.

"Reynolds will continue to give its customers choices. No one will be forced to change systems. We'll offer the choice of the UCS POWER(R) software and the Reynolds ERA(R) software as part of the core REYNOLDSYSTEM(TM).

"As the two companies come together, there will be no disruption of service. Customers have my word that their investments will be protected, regardless of their platform. Both the ERA and POWER systems will be sold, installed, supported and enhanced for decades to come for the hundreds of thousands of dealership employees who rely on them," O'Neill said.

Reynolds and UCS announced a definitive agreement August 8 to merge their two organizations to create the world's pre-eminent dealer services company. The transaction is subject to approval by Reynolds shareholders and regulatory clearances.

The combined company will continue to be named The Reynolds and Reynolds Company, with the products and services of both Reynolds and UCS marketed under the Reynolds brand. The UCS brand will be discontinued. Reynolds will continue to have headquarters and principal operations in Dayton, Ohio.

Reynolds expects to schedule a special meeting of its shareholders during the fourth quarter of calendar year 2006 to vote on the transaction.

Source : http://www.automotive.com (8/14/2006)

cord sales and net income results for the quarter ended June 30, 2006. The Company also raised guidance for the full year of 2006.
Second Quarter Results

Net sales in the second quarter of 2006 were $77.7 million, an increase of 39.6% over the prior year second quarter net sales of $55.7 million. Gross sales of satellite radio products were $41.3 million, an increase of 162.3% over the prior year second quarter. Gross sales of security and entertainment products in the second quarter of 2006 were $38.0 million, compared with $41.1 million in the prior year second quarter.

Net income for the second quarter of 2006 increased 82.9% to $3.1 million, or $0.12 per diluted share, compared with pro forma net income available to common shareholders of $1.7 million, or $0.09 per diluted share in the prior year period. Net income for the second quarter of 2006 increased 175.0% over GAAP net income available to common shareholders of $1.1 million, or $0.06 per diluted share in the prior year period. The second quarter 2005 GAAP net income available to common shareholders included $0.2 million of management fees to a related party, $0.4 million of IPO related costs, and their related tax effects.

"We are pleased with our second quarter sales and earnings performance," commented James E. Minarik, Directed's President and Chief Executive Officer. "Our SIRIUS satellite radio products continued to experience outstanding growth, and our security and entertainment sales were essentially in line with our internal expectations, except for slightly lower than expected sales in our security products and a more significant decline in our mobile video sales which decreased from the prior year due to industry-wide softness in this category."

"Looking forward, we remain confident in achieving our full year 2006 security and entertainment sales plan due to the full roll-out of our remote start value program (RSVP), our new Spread Spectrum Technology security and convenience products, as well as the continued rollout of Best Buy's Magnolia stores in the back half of the year," stated Mr. Minarik. "Combined with the new Sirius satellite radio products scheduled to launch later this summer, we anticipate a record 2006."

Year-to-Date Results

Net sales for the first six months of 2006 were $152.0 million, an increase of 41.1% over the first six months of 2005 net sales of $107.7 million. Gross sales of satellite radio products were $77.5 million, an increase of 169.5% over the first six months of 2005. Gross sales of security and entertainment products for the first six months of 2006 were $77.2 million, compared with $81.7 million in the same period of the prior year.

Pro forma net income for the first six months of 2006 increased 107.0% to $6.6 million, or $0.26 per diluted share, compared with pro forma net income available to common shareholders of $3.2 million, or $0.17 per diluted share in the prior year period. GAAP net income for the first six months of 2006 increased 179.2% to $7.1 million, or $0.27 per diluted share, compared with GAAP net income available to common shareholders of $2.5 million, or $0.14 per diluted share, in the prior year period. The first six months of 2006 GAAP net income includes a one-time income tax benefit related to the revaluation of deferred tax assets and liabilities of $0.4 million. The first six months 2005 GAAP net income available to common shareholders included $0.4 million of management fees to a related party, $0.4 million of IPO costs, and the related tax effects.

Gross Profit and Operating Margins

For the second quarter of 2006, gross profit increased to $20.7 million, compared with $19.4 million in the prior year period. Gross margin for the second quarter of 2006 declined to 26.6% from 34.9% for the prior year period, due to the significant sales increase of satellite radio products, which have lower margins compared to security and entertainment products, which retained historical gross margin levels. For the first six months of 2006, gross profit increased 14.2% to $43.4 million, compared with $38.0 million in the prior year period.

For the second quarter of 2006, EBITDA (earnings before interest, taxes, depreciation and amortization) increased 12.3% to $9.8 million, or 12.6% of net sales, from $8.7 million, or 15.7% of net sales, in the prior year second quarter. Excluding the adjustments in the prior year period, second quarter of 2005 pro forma EBITDA was $9.3 million. For the first six months of 2006, EBITDA increased 16.9% to $20.4 million, or 13.4% of net sales, from $17.4 million, or 16.2% of net sales, in the prior year period. Excluding the adjustments in the prior year period, first half of 2005 pro forma EBITDA was $18.2 million.

Balance Sheet and Cash Flows

The Company had $15.6 million in cash as of June 30, 2006, and generated $14.4 million of cash provided by operating activities in the first half of 2006, compared to $6.6 million of cash used in operating activities in the prior year period. After repaying $6.1 million of debt during the first six months of 2006, the Company had total debt of $165.8 million as of June 30, 2006, resulting in total debt to proforma EBITDA, on a trailing twelve-month basis, of 2.8x, an improvement from 3.1x as of December 31, 2005.

"For the first half of 2006, we are very pleased with our cash flow from operations of $14.4 million, which is an increase of $21.0 million from the prior year period," stated John D. Morberg, Directed's Chief Financial Officer. "Directed has very favorable cash flow characteristics including minimal capital expenditures, a favorable cash tax shield, and a significant portion of customers who pay on a COD basis. These factors provide us with significant financial flexibility to continue to deliver strong growth, make opportunistic acquisitions, and pay down debt."

FCC Update

As previously announced, on June 30, 2006, the Company received a letter from the Federal Communications Commission (FCC) stating that two SIRIUS receivers with FM transmitters distributed by the Company, the SIRIUS ST2 and SIRIUS S50-C, were not in compliance with certain FCC frequency or emission limits. The Company has responded to the FCC's letter and provided the information requested.

"We are very pleased to announce that the FCC has now approved the modifications made to the SIRIUS ST2 (Starmate Replay) and has determined that it is now in compliance with FCC frequency and emission limits. Accordingly, we will recommence shipping the SIRIUS ST2 this week," stated Mr. Minarik. "We also continue to ship the new SIRIUS Sportster 4 (SP4TK1), and have ramped up production to meet the strong demand for this new model."

"We continue to cooperate with SIRIUS, our manufacturers and the FCC in their review of the SIRIUS S50, and we expect that any issues with this model will be resolved in the very near future," continued Mr. Minarik. "We also remain on target to have available to consumers by the end of the summer, the new live personal satellite radio, SIRIUS Stiletto (SL100)."

Outlook for 2006

The Company's guidance philosophy is to provide annual sales and earnings forecasts at the beginning of the year, and update its progress towards the achievement of this outlook during each quarter. The Company does not provide specific quarterly sales and earnings forecasts, which is consistent with the Company's Focus on long-term sales and earnings growth generation.

For the second time this year, the Company is raising its 2006 annual sales expectations and currently expects net sales to increase 25% to 30%, up from a previously forecasted low 20% range over 2005. The Company currently believes that it will achieve gross sales growth in security and entertainment products, in the mid-single digit range, and gross sales growth in satellite radio products in excess of 50%.

The Company is raising its 2006 annual net earnings per diluted share expectations from a range of $1.00 -- $1.03 to a range of $1.01 -- $1.04, excluding the one-time income tax benefit in the first quarter of 2006. Reflected in this revised guidance are one-time legal fees expected to total approximately $1.0 million, net of tax effects, or $0.04 per diluted share, that the Company expects to incur during the last half of 2006, in defense of previously disclosed patent litigation. This guidance also reflects annual general and administrative expenses associated with being a public company of approximately $3.0 million, or $0.07 per diluted share, which were not incurred in 2005, as well as the Company's current expectations regarding shipment of FCC-compliant satellite radio products.

Conference Call and Webcast

Directed Electronics will host a conference call and webcast to discuss its financial results today, August 14th, at 5:00 p.m. EDT. This call will be webcast live on the Investor Relations section of the Company's website at www.directed.com and will be archived and available for replay approximately three hours after the live event. The audio replay will be available until midnight, August 28, 2006. The Company's financial results are also available online at www.directed.com.

Source : http://www.automotive.com (8/14/2006)

Standard Aero Holdings, Inc. Report of Second Quarter Results
SAN ANTONIO, PRNewswire/ -- Standard Aero Holdings, Inc. (Standard Aero) today announced its summary financial results for the second quarter ended June 30, 2006.

"We are very satisfied with our second quarter results including a 17% increase in revenues over the same period last year," stated David Shaw, CEO of Standard Aero Holdings Inc. "We are also pleased to have reached an agreement with Kelly Aviation Center, L.P. to be the T56 depot maintenance provider for the full term of the Propulsion Business Area (PBA) contract with the U.S. Air Force. As we have since 1998, we remain committed to supporting Kelly Aviation Center as our important and valued customer."

Commenting on recent contract awards, Mr. Shaw stated, "We continue to add to our order book in our other engines lines, having recently been awarded a contract by Sikorsky Support Services Inc. to provide engine MRO for the U.S. Navy's T-34 and T-44 trainer aircraft. In addition, GoJet Airlines exercised options on 5 additional CRJ-700 aircraft which will add an additional 10 engines to our exclusive CF34 MRO contract and continue the growth in our CF34 regional jet engine backlog."

Revenues for the three months ended June 30, 2006 were $200.4 million, an increase of $28.6 million or 17% compared to the three months ended June 30, 2005. This increase was primarily attributable to an increase in revenue in our Aviation MRO segment due to higher sales to our turbofan customers and increased revenues on our T56 military contracts. Revenue in our Enterprise Services business, increased $8.8 million reflecting revenues under our subcontract agreements with Battelle to provide redesign services to the United States Air Force at Tinker Air Force Base in Oklahoma City, Oklahoma and Hill Air Force Base in Ogden, Utah.

Income from operations was $17.4 million for the three months ended June 30, 2006 compared to income from operations of $11.9 million for the three months ended June 30, 2005. Net income for the three months ended June 30, 2006 was $7.2 million as compared to $3.1 million for the three months ended June 30, 2005. Adjusted EBITDA, as defined by our senior secured credit agreement, was $25.7 million for the three months ended June 30, 2006, an increase of 33% compared to Adjusted EBITDA of $19.3 million for the three months ended June 30, 2005.

Revenues for the six months ended June 30, 2006 were $386.2 million, an increase of $27.0 million or 8% compared to the six months ended June 30, 2005. This increase was primarily due to a $16.9 million increase in revenues in our Enterprise Services business.

Income from operations for the six months ended June 30, 2006 increased by $2.1 million or 7% to $32.5 million compared to $30.4 million for the six months ended June 30, 2005. The increase in income from operations was primarily due to gross profit on higher Enterprise Service revenues. Net income for the six months ended June 30, 2006 increased to $11.0 million from $9.7 million for the six months ended June 30, 2005. Adjusted EBITDA was $48.0 million for the six months ended June 30, 2006, an increase of 7% compared to Adjusted EBITDA of $45.0 million for the six months ended June 30, 2005.

At June 30, 2006, total indebtedness was $461.6 million and cash on hand was $7.0 million. Net capital expenditures during the six months ended June 30, 2006 were $8.6 million, compared to $10.4 million during the six months ended June 30, 2005.

Adjusted EBITDA

Information concerning Adjusted EBITDA has been included because Standard Aero uses this measure to evaluate its compliance with covenants under its senior secured credit agreement. Standard Aero also believes that Adjusted EBITDA provides useful information regarding its ability to service and incur debt. Adjusted EBITDA is not a recognized term under generally accepted accounting principles (GAAP), and should not be considered in isolation or as an alternative to net income, net cash provided by operating activities or other measures prepared in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be an indicator of free cash flow available for management's discretionary use, as it does not consider certain cash requirements such as capital expenditures, tax payments and debt service requirements. Adjusted EBITDA is not necessarily comparable to similarly titled measures reported by other companies. A reconciliation of Adjusted EBITDA to net income is provided below.

Recent Developments

On July 11, 2006, we reached agreement with KAC regarding the terms of the subcontract under which we provide MRO services for U.S. Government T56 engines managed by the U.S. Air Force. Standard Aero will remain KAC's T56 depot maintenance provider for the full term of the Propulsion Business Area (PBA) contract with the U.S. Air Force. The subcontract, which was due to expire in February 2007, has been extended until February 2010. Based upon government option award to KAC, the contract will be extended for additional years, up to 2014, as the prime contract is extended. Standard Aero employees will continue to overhaul T56 engines in San Antonio, Texas and Winnipeg, Canada. The T56 engine is used on the C-130 Hercules, P-3 Orion, and C-2 Greyhound aircraft.

Additionally, Standard Aero has become a Rolls-Royce Authorized Military Overhaul Facility, with Rolls-Royce technical support on T56 engine maintenance. This business integrates the maintenance, repair and overhaul (MRO) experience of Standard Aero with the technical expertise of Rolls-Royce, the original equipment manufacturer (OEM) for the T56.

Second Quarter 2006 Conference Call

Standard Aero Holdings, Inc will hold its second quarter 2006 conference call on Wednesday, August 16, 2006 at 2:00 pm (New York City time). Call in details are as follows: 1-877-317-8409 reservation number 21301765.

A replay of the call will be available from 4:00 pm (New York City time) on August 16, 2006 until 23:59 pm (New York City time) on August 23, 2006 by calling 1-800-633-8284, reservation number 21301765.

Source : http://www.automotive.com (8/14/2006)

DuPont Automotive OEM Coatings Revenue to Nearly Triple in Brazil
SAO PAULO, Brazil, PRNewswire-FirstCall/ -- DuPont will triple its automotive coatings revenue in Brazil by year end 2006, compared to a 2002 baseline. Beyond regional auto production increases, the growth is largely due to aggressive streamlining, the application of Six Sigma methodology and implementation of a new strategic marketing plan.

"With Brazilian auto production averaging 13 percent annual growth, we took decisive action to meet the demands of our region's fastest growing auto manufacturers," said Antonio Carlos Oliveira, South American business director for DuPont Automotive Systems.

Since consolidating its previous coatings joint Venture operations in Brazil into a 100 percent DuPont-owned business, the business has moved swiftly to streamline coatings manufacturing and harmonize global technology for greater productivity and customer satisfaction. DuPont also engaged the sales and marketing organization to anticipate the needs of some of the region's fastest growing automakers such as Audi, Fiat, Ford, Toyota, Volkswagen and Volvo.

"The basis for this business success is a workforce that is committed to using Six Sigma methodology to differentiate products, services and work processes in the eyes of our customers," said Oliveira. "We've set realistic, clear goals and priorities to intensively link our business plans and critical operating tasks so we can improve our competitive position in the demanding automotive OEM marketplace."

The business has more than 20 active Six Sigma projects to implement new technology and improved application productivity at 11 auto manufacturers that are expanding production in Brazil. Included are advancements in "cost per unit" (CPU) methods of getting paid for reducing paint application waste and improving vehicle finish quality in a number of dimensions -- all in collaboration with auto assembly plant management and workers.

"Tying Six Sigma methodology to CPU can be a much better way to get paid for products and services than simply charging our customers for paint by the liter," Oliveira said. "Through effective CPU negotiations, DuPont and its customers share in the benefits of collaboration."

DuPont Automotive Systems' coatings business had a strong first half of 2006 throughout the South American Region. Oliveira said growth in South America is by no means confined to the Brazilian economy. Argentina and the Andean Region show continued strength in car sales, and DuPont is especially well positioned to participate in that growth.

DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.

The DuPont Oval Logo, DuPont(TM), and The miracles of science(TM) are registered trademarks or trademarks of DuPont or its affiliates.

Source : http://www.automotive.com (8/14/2006)

Maxwell Technologies and Alcoa AFL Automotive Sign Memorandum of Understanding to Develop Cold Start System for Commercial Vehicles
SAN DIEGO and DETROIT, PRNewswire-FirstCall/ -- Alcoa AFL Automotive and Maxwell Technologies announced today that they have signed a memorandum of understanding to collaborate on the development of a cold start system for the commercial transportation market. The companies will incorporate Maxwell's BOOSTCAP(R) ultracapacitors with AFL's power management system to develop an efficient engine starting system.

"This phase will Focus on the meshing of Alcoa's and Maxwell's technologies to produce the cold start system, with a goal of producing a system ready for testing and evaluation by truck OEMs by the end of the first quarter, 2007," said Allen Zwierzchowski, President, Worldwide Components AFL Automotive.

"AFL and Maxwell have been interacting technically for some time, and we have identified cold starting for commercial trucks as a significant market opportunity that the companies have agreed to address through a formal collaboration," said Dr. Richard Balanson, Maxwell's president and chief executive officer.

"AFL is a highly respected Tier 1 supplier to the automotive and commercial vehicle industries. Their electronic systems design expertise, manufacturing resources and strong worldwide contacts with auto and truck OEMs complement Maxwell's capabilities as a leading provider of energy storage and power delivery solutions," Balanson continued.

Helps save fuel and emissions; reduces costs to fleet owners

Increasing environmental regulations preclude the ability of operators to allow their trucks to run all night. More than 20 states have enacted or are proposing regulations that prohibit running diesel truck engines overnight to power so-called "hotel loads" -- heating, cooling, entertainment and other driver comfort feature. Running those loads on battery power all night can leave the batteries with insufficient power to start the vehicle in the morning, especially in cold weather. "With the AFL-Maxwell cold starting system, the ultracapacitor pack would provide what amounts to an on-board jump-start capability," Zwierzchowski explained.

"In addition, fleet owners incur significant costs due to vehicle downtime and jump-starting stranded trucks. Incorporating ultracapacitors to relieve batteries of demanding short-duration, high-current loads, such as cold starting, will improve overall system performance and reliability, extend battery life, and reduce battery maintenance and replacement costs," Zwierzchowski said.

Source : http://www.automotive.com (8/14/2006)

Cheever Takes on Silverstone Ghosts and Wins!
LONDON, /PRNewswire/ -- One of the most iconic names in motor racing, Eddie Cheever won yesterday the 2006 GP Masters of Great Britain, Sunday 13th August 2006 at Silverstone, UK. With race track and ambient temperature of 17 degrees, wet tarmac, 650 horsepower and no traction control, yesterday's GP Masters race was always going to be a stormer, and it delivered in spades.

The lead changed seven times during the 26 lap race, with pole sitter Christian Danner surrendering his position to Stefan Johansson at the start. The lead was then seized by Eddie Cheever. Cheever and Eric Van de Poele had an exceptional battle for supremacy, but the conditions would get the better of Eric, and he dropped back after a couple of thrilling 360s. Cheever's race craft was faultless throughout, giving the 48 year-old American his first GP Masters victory.

Winner Eddie Cheever said: "I kept looking in my mirrors thinking 'I know Nigel Mansell's going to be up here any minute', but then I saw him sat in the garage on one of the big TV screens and thought 'Okay, I have a crack at this today'! It was very slippery and busy at the start. I was lucky that Warwick and Danner both spun out in front of me, and then had a really exhilarating race with Eric Van de Poele where we swapped the lead several times. I have also always loved driving at Silverstone, ever since I first came here as a 17 year-old, and hope to be back soon."

Born in Arizona, Cheever moved to Italy with his parents when he was six years old. As a teenager, he became a skilled go-kart racer. He eventually progressed through various forms of European road racing to the pinnacle of motorsports - Formula One.

After 132 races in Formula One - the most by any American driver in the history of F1 - Cheever returned to the U.S. and in 1998, realized his dream with an emotional victory in the Indy 500, becoming one of the few people to win the race as a driver and car owner. His name and likeness are forever a part of racing history.

Source : http://www.automotive.com (8/14/2006)

Award-Winning Auto Designer Chip Foose joins MotorCity Casino Expansion Design Team
DETROIT, PRNewswire/ -- Chip Foose, the renowned designer behind some of the most famous vehicles of the past decade and the star of the popular TLC series "Overhaulin'," has joined MotorCity Casino's (MCC) expansion project as a design consultant. Foose will bring his award-winning design talent to Detroit to help make the permanent MCC a unique and cutting- edge entertainment, conference and resort venue.

During his relatively short career, Foose has created a Legacy of design accomplishments that are well beyond his years. Foose has built award-winning hot rods and has introduced some of the most revered vehicle and product designs of the last decade, including signature street rods, customs, studio vehicles and show cars for such films as "RoboCop," "Blade Runner" and "Gone in 60 Seconds." He has won numerous awards for his designs including three of the last four Rittler Awards, the most prestigious all-around honor in hot- rodding. He is also a seven-time winner of the Good Guys Street Rod of the Year Award. In 2005, Foose was inducted into the San Francisco Rod and Custom Motorcycle Hall of Fame.

"We are thrilled that Foose has agreed to partner with MCC on our expansion project," said Gregg Solomon, chief executive officer, MCC. "His auto design roots bring an energetic and distinctive artistic perspective to the project that will illustrate America's -- and specifically Detroit's -- infatuation with the automobile."

As evidenced by his numerous awards and distinctions, Foose has consistently defied design norms. His role in the design of the MotorCity Casino and hotel will continue this tradition. "The expanded MotorCity Casino property will definitely offer 'must see' design elements for all visitors to the area," said Rhonda Cohen, chief operating officer, MCC. "Our goal is to effectively capture the very best of Detroit's automotive history, coupled with a vision of the best that is yet to be realized."

MCC opened in December 1999 and is owned and operated by Detroit Entertainment, L.L.C. MCC broke ground for a permanent casino at its current downtown Detroit site in November 2005. MCC's temporary facility offers two main floors of gaming, a third floor non-smoking gaming area, a high-limit area on the fourth floor and Detroit's only AAA Four Diamond Award restaurant, Iridescence. MCC provides patrons two live entertainment venues, four unique restaurants and parking for 3,500 automobiles in this exciting and sophisticated entertainment experience. The new 17-story, 400 room hotel tower and parking structure are expected to be completed in 2007.

Source : http://www.automotive.com (8/14/2006)

Mercedes-Benz CL-Class Protects
The anticipatory Pre-Safe protection system is included in the standard safety equipment for the new CL-Class, which makes its market debut in the autumn of 2006. This award-winning technology goes into action if an accident is imminent and protects the occupants of the new luxury coupe against the effects of an impending collision. Available as an option is the Pre-Safe brake, an additional new feature that automatically slows the CL-Class down when the risk of an accident is recognised. No comparable safety technology is found in any other car in this vehicle class.

With Pre-Safe, Mercedes-Benz ushered in a new era of passenger car safety. For the first time, this system is able to create a synergy between active and passive safety: on the basis of sensor information from active handling safety systems, which register the danger of a skid or very heavy braking within milliseconds, Pre-Safe uses the time between detection of a potential accident and activation of the protective systems in the vehicle interior. During this interval, Pre-Safe prepares the occupants for the impending collision as a precaution.

2006 Mercedes Benz Cl Class Pre Safe Manual

In other words, Pre-Safe gives the car reflexes. When danger is detected, the new CL-Class responds as reflexively as a living being and activates the appropriate protective measures to avoid the risk of injuries or reduce their severity. This Mercedes invention is in line with the findings of accident researchers, which show that more than two-thirds of all serious accidents are preceded by critical driving maneuvers that allow an impending collision to be predicted in advance.

In the new CL-Class, Pre-Safe uses this advance accident detection phase, which can have a duration of several seconds in some cases, to:

• move the front passenger seat to a more favorable position with respect to height and fore-and-aft adjustment, as well as cushion and backrest angle, during emergency braking, so that the seat belt and airbag are able to work most effectively during an impact, and to inflate the air chambers in the dynamic multi-contour seats (optional) to support the driver and front passenger and press them more firmly into their seats.

• additionally close the front side windows and sliding sunroof if the car starts to skid, so that the occupants are not thrown out and the windowbags have better support during a side impact or rollover.

2006 Mercedes Benz Cl Class Pre Safe Manual

Automatic partial braking when a collision is imminent The newly developed Pre-Safe brake system improves this preventative occupant protection even further. This unique system automatically brakes the CL-Class before an impending accident and operates in tandem with the Brake Assist PLUS (BAS PLUS) system introduced last year, which warns the driver of an imminent rear-end collision with visual and audible signals and automatically calculates the required braking pressure to prevent an accident. This braking-power support is available as soon as the brake pedal is operated.

Source : Motor Trend (8/14/2006)

Delphi labour contract hearing postponed to 17 August
Delphi Corp. announced at the end of last week that the contested hearing on its Section 1113 and 1114 motion to annul its labour contracts would not resume last Friday, August 11 as previously scheduled. Instead, Delphi requested a short-term extension of the postponement of the hearing until August 17, 2006.

The request was made following a chambers conference conducted by the Bankruptcy Court on August 9 and meetings between Delphi and its major stakeholders held over the last several days. The additional adjournment was intended to facilitate continuing discussions with the UAW, IUE-CWA, USW and other unions as well as discussions with General Motors, Delphi's statutory committees appointed in the Chapter 11 cases, and other major stakeholders regarding Delphi's restructuring plan.

It was reported by the Detroit News that Margaret Miller, the wife of Delphi Chairman and Chief Executive Robert S. (Steve) Miller, died early on Friday 1 August, the day the hearing had been scheduled, following diagnosis of a brain tumour last May.

The United Auto Workers responded to the postponement of the hearing by issuing a news release saying the talks it had recently held with Delphi management were "at best disappointing". The release continued: "Delphi's negotiators would not enter into any discussion which might be viewed in court as a departure from their November proposal. The discussions we did have centered on the future plant "footprint" at Delphi and product portfolio as well as an analysis of the effects of the attrition program on Delphi's labour costs.

"The results of the Special Attrition Program at Delphi were final June 30. Almost 85 percent of those eligible, (12,503 of 14,733) selected an option from the programme. Without any changes in our labour agreement, this is a dramatic acceleration of the blending in of the second tier agreed to in 2004.

"In the eyes of the UAW, this altered the economic landscape of the discussions. An analysis by Lazard confirmed that to be true. Delphi, however, has not changed the basic proposal offered last November with regard to any long-term commitment to jobs in this country. While the UAW and GM have made significant efforts to resolve the issues, Delphi has continued to insist that workers and communities must suffer while their executives reap bonuses and GM pays the bills."

Source : http://www.autoindustry.co.uk (8/14/2006)

Suzuki to make a Splash in Paris
Suzuki's exhibit at the 2006 Paris Motor Show will include the Swift Sport.

Based on the 3-door Swift, the flagship model of the new Swift range, the European specification Swift Sport, will have its launch at the Show (September 28 to October 15) before sales start in the autumn.

Sales of the Japanese specification Swift Sport started late last year [2005] and the company says that its performance and design have been well accepted there since its launch.

Suzuki will also exhibit project 'Splash', which is a 'clinic model' for another all-new vehicle which will follow the Swift, Grand Vitara, and SX4 onto the market.

Based on the concept of a car that will appeal to many different markets and market sectors Splash is a multipurpose vehicle intended to deliver satisfaction to a very wide spectrum of customers regardless of their lifestyle, age, and gender and with diverse requirements for their personal transportation.

Source : http://www.newcarnet.co.uk (8/14/2006)

Peugeot 908 RC at the Paris Show
Peugeot's latest concept car is to debut at the Paris Motor Show in September.

The 908 RC owes its name to its engine - the Peugeot V12 HDi DPFS, which will power the racing version of the 908 in 2007. The abbreviation "RC", used to designate sports models in the Peugeot range in mainland Europe.

Peugeot tells us that the original idea was to create a limousine with an imposing style that offered its four occupants a new driving sensation. The final design, however, is said to be an uncompromising car that combines dynamic performance, comfort, luxury and environmental protection.

The 908 RC is powered by Peugeot's V12 HDi DPFS (diesel particulate filter system) diesel engine, designed to take part in the "Le Mans Race Series" programme in 2007. The engine has a capacity of 5.5-litres and offers a maximum power output greater than 700bhp and an exceptional torque in excess of 1200Nm.

The 908 RC has a compact design, with the engine mounted behind passengers. Similarly, the compact 6-speed electronically-controlled sequential gearbox has been specially adapted to withstand the torque, and is located under the engine.

The design of the 908 RC creates a low-lying exterior body with a tapered design at the front of the vehicle. Sitting on large diameter 20 spoke alloy wheels (20'' at the front, 21'' at the rear); the overall effect is that of a big cat.

Peugeot says that the 908 RC is a luxurious touring interpretation of the racing car of the future, and that it creates the spirit of the "gentleman driver".

Source : http://www.newcarnet.co.uk (8/14/2006)

new Mini
You have to wonder if the designers at Mini just thought they'd have a bit of a rest.

After all, they'd penned the hugely successful BMW Mini that's gone on to sell more than 800,000 units around the world, come up with quicker versions, a convertible, and even knocked out a couple of decent concept models.

Hell, they even managed to come up with a British small car the Americans like. Why not have a well-earned break?

Then the call comes from Germany. 'When will we see the new car?' says the Munich-accented voice at the other end of the phone.

Panic stations. They need to show something to the high-ups and fast, so why not keep the cutesy looks of the original and tell them it's a bit bigger? Just park it a bit closer to the front of the stage.

We don't know if that's what really happened, but the result is that the all-new Mini goes on sale in November this year.

The new car has had every exterior panel remodelled, yet it looks almost identical to the original 2001 car, other than the headlights are rounder and are no longer fixed to the bonnet but mounted on the wing underneath.

The Mini Cooper is 60mm longer than before, and the Cooper S an extra 1mm longer than this.

The extra length is to help the new Mini meet tougher crash test requirements, while the S model's bonnet curves up more to cover the engine's turbocharger.

There's still that wheel-at-each-corner poise to the new car, and the window line sits 18mm higher than before to give an even more at-the-ready appearance.

Smoother upper body styling has reduced the new Mini's aerodynamic drag factor (down from the old car's 0.35 to 0.33), helped along by a new spoiler at the rear of the roof.

The other clue to the new Mini is the rear lights are now a little larger.

But to really spot the new car, you will need to look inside and see the more marked differences compared with its predecessor.

The speedo is still mounted in the centre of the dashboard but can now include a screen for entertainment and navigation functions.

The centre console beneath the speedo is slimmer to free up more space in the footwells, but the toggle switches of the original remain.

There are also more toggle switches up in the ceiling to control the interior lights' colour, which can be varied in five shades from orange to blue.

Another new control is the ignition does away with a key and replaces it with a BMW 3-Series-style plipper that's inserted into a slot in the dash before pressing the start/stop button.

Mini tells us the new car has more rear seat space to answer criticisms of the previous model, but we'll have to wait until we can clamber in there to confirm this.

From November, UK buyers will be offered the Cooper and Cooper S models.

The Cooper uses a 120bhp 1.6-litre engine that serves up 0-62mph in 9.1 seconds and a top speed of 125mph.

The S uses a turbocharger to release 175bhp from the 1.6-litre engine, doing away with the original Cooper S's supercharger.

With only a fraction more power than its predecessor, the new S model is a whisker quicker all-round, with 0-62mph in 7.1 seconds and a top speed of 140mph.

Perhaps as impressive as the performance is the fuel economy - the Cooper S is capable of 40.9mpg on the combined cycle, which is very respectable for a hot hatch and more than 8mpg better than the previous S.

Both of the Cooper models remain front-wheel drive and will be offered with a six-speed manual gearbox as standard or an optional six-speed auto with steering wheel-mounted paddle shift.

The Cooper S will ride on firmer suspension to the Cooper, and both cars can be upgraded with a Sports Suspension option that stiffens the springs, shock absorbers and anti-roll bars.

The Mini Cooper will start at £12,995, which is £500 more than the outgoing model, and comes with 15in alloy wheels and run-flat tyres as standard.

The Cooper S gains 16in alloys and electronic stability control for its £15,995 asking price.

The £11,595 Mini One will follow the Cooper models in early 2007 and use a 1.4-litre engine.

The diesel model will arrive at the same time as the One, so it looks like those designers will be kept busy for a while yet.

Source : http://www.topgear.com (8/14/2006)

Keystone Automotive Operations, Inc. to Release Second Quarter 2006 Financial Results
EXETER, Pa., PRNewswire/ -- Keystone Automotive Operations, Inc., the largest marketer and distributor of automotive parts and accessories in the specialty automotive aftermarket, today announced that it will be releasing financial statements for the second quarter ended July 1, 2006 on Tuesday, August 15, 2006. The release of financial statements will be followed by a live conference call on Friday, August 18, 2006 at 10:00 a.m. EDT to discuss the results.

Conference Call Details

Keystone Automotive Operations, Inc. will hold a live conference call to discuss second quarter ended July 1, 2006 financial results on August 18, 2006 at 10:00 a.m. EDT. To participate, please dial in to the conference call at 866-600-0797 access code 4522693. The conference call topic is Keystone Automotive Operations, Inc. Earnings Conference Call.

A telephone replay of the call will be available from 12:00 p.m. EDT on August 18, until 11:59 p.m. EDT on August 25. The replay of the call may be accessed by dialing 800-642-1687, access code 4522693.

Source : http://www.automotive.com (8/14/2006)

UGS Helps Mazda Improve Production Efficiency with Its Tecnomatix Digital Manufacturing Solution
PLANO, Texas and TOKYO, PRNewswire/ -- UGS Corp., a leading global provider of product lifecycle management (PLM) software and services, today announced that the company helped Mazda Motor Corporation (Mazda) achieve significant improvements of production efficiency at its Hofu Plant with UGS' Tecnomatix(TM) digital manufacturing solution.

Manufacturing simulation and planning, part of the Tecnomatix digital manufacturing portfolio, have been leveraged in the manufacturing technology area and was expanded to the manufacturing site for the first time. UGS' Tecnomatix solution helped Mazda link production control systems with production management resulting in optimized performance. The Tecnomatix deployment contributed to Mazda's achievements of reduction in inventory, reductions in labor costs, enhanced safe workplace practices and more reliable production instructions.

"We are pleased to see one of the leaders in the industry achieve success with UGS' Tecnomatix solutions," said Haruyoshi Iida, senior vice president, Japan Operations, UGS. "Their success reinforces the importance of Digital Manufacturing as core to a company's overall PLM strategy. We look forward to an ongoing partnership with Mazda to help them achieve their goals."

Source : http://www.automotive.com (8/14/2006)

Johnson Controls-Saft Joint Venture Targets Development of Advanced, Lithium-Ion Batteries for Hybrid-Electric Vehicles
MILWAUKEE RNewswire/ -- Johnson Controls-Saft Advanced Power Solutions (JCS) has been awarded a 24-month contract to develop advanced, lithium-ion (Li-Ion) batteries for hybrid-electric vehicles (HEVs) by the United States Advanced Battery Consortium (USABC). In the project, 50% financed by USABC, engineers and scientists at JCS will enhance lithium-ion battery technology for near-future HEVs. They will Focus on accelerating Li- ION technology development by improving battery power in low temperatures, and creating solutions that reduce battery system costs.

The USABC, an industry group, pursues research and development on advanced energy systems to boost the range and performance of future electric and hybrid electric vehicles. Members of the USABC include the United States Department of Energy along with DaimlerChrysler, Ford and General Motors.

"We are extremely gratified to receive this technology-development contract," said Johnson Controls' Vice President and General Manager of the company's hybrid battery business, Alan Mumby, who also leads the JCS joint Venture. "The project reinforces our commitment to creating advanced-chemistry battery systems for tomorrow's HEVs, and delivering sustained market and technology leadership. Our priorities are to work on cell performance, systems development and cost reduction for lithium-ion technology."

JCS and the United States Department of Energy are funding the project, and USABC is providing program support. JCS will supply cell modules that can be tested for abuse tolerance, pulse power, calendar life, and cycle life. A major goal is to meet the FreedomCAR USABC battery-performance requirements. FreedomCAR is an industry government research initiative that targets the development of technologies for boosting fuel economy and reducing emissions of U.S. passenger vehicles.

The JCS advanced battery hybrid systems team, located at the company's headquarters in Milwaukee, Wisconsin, will direct the technology development program. Cell development efforts will be supported by JCS facilities in the United States and Europe.

In 2004, the USABC granted Johnson Controls an 18-month contract supporting the development of advanced, lithium-ion battery technology. That same year Saft was awarded a contract with the USABC of a similar nature. This new contract awarded to the joint Venture is a culmination of the development work by both companies to drive the technology to commercial viability.

The Johnson Controls-Saft joint Venture was officially launched in January 2006.

Source : http://www.automotive.com (8/14/2006)

Motorcar Parts of America, Inc. Announces First Quarter of Fiscal 2007 Results
LOS ANGELES, PRNewswire-FirstCall/ -- Motorcar Parts of America, Inc. ("MPA") , a leading remanufacturer of alternators and starters for the automotive aftermarket, announced today financial results for it's first quarter fiscal 2007 ended June 30, 2006.

Net sales for the quarter ending June 30, 2006 were $27.2 million, up 27.5% from $21.4 million in the same quarter last year. Gross profit and gross margin were $7.0 million and 25.9%, respectively, as compared to $3.4 million and 15.9%, respectively, in the first quarter of fiscal 2006. Sales and gross profit in last year's comparable period were negatively impacted by marketing allowances of $5.7 million compared to $4.5 million for the quarter ended June 30, 2006.

Operating income for the first quarter of fiscal 2007 was $2.7 million, compared to an operating loss of $1.8 million in the same quarter of the prior year. Operating expenses declined 15.3% in the quarter, principally due to lower general and administrative expenses. The prior year period includes the impact of outside professional and consulting fees related to the SEC's review and the subsequent restatement of the company's financial statements. These expenses declined significantly in the first quarter of fiscal 2007. This decline was partially offset by higher sales, marketing and research and development costs incurred in connection with new business awarded, sales efforts in the professional installer marketplace, the company's initial recognition of equity-based compensation expense as well as the company's commitment to value-added customer service. Interest expense increased in the first quarter of fiscal 2007 due to greater utilization of the line of credit and increases in interest rates. Net income in the first quarter of fiscal 2007 was $1.1 million, or $0.13 per diluted share, compared to a net loss of $1.4 million, or $(0.17) per diluted share in the first quarter of fiscal 2006.

Selwyn Joffe, MPA's Chairman, President and CEO, said, "This was a solid quarter for MPA. We delivered 13.8% growth in our top line and improved the gross margin by 100 basis points, after adjusting for front loaded marketing allowances in the first quarter of last year. This increase in gross margin reflects well on the progress of our offshore initiatives. Production at our offshore facilities accounted for almost 60% of total production during the quarter, and we are on track to produce 95% of our total production needs outside the U.S. by the end of the current fiscal year."

Financial Condition

As of June 30, 2006, the company had cash and equivalents of $97,000, working capital of $46.2 million and total assets of $110.9 million. Debt and capital lease obligations totaled $20.9 million and shareholders' equity was $52.8 million. Cash used in operations was $7.1 million in the first quarter of fiscal 2007, compared to $4.0 million in the same period last year. In August 2006, the company increased its credit facility to $35.0 million from $25.0 million.

Mervyn J. McCulloch, MPA's Chief Financial Officer, commented, "During the first quarter, we issued the final credit under our pay-on scan arrangement with our largest customer, which had a negative impact on our operating cash flow. Although our working capital requirements remain high, we believe our recently expanded credit agreement will provide us with sufficient liquidity to meet our currently anticipated needs."

Business Outlook

"Despite some industry softness in sales during the first quarter of fiscal 2007, we are off to a great start, with solid revenue growth and profitability. We continue to execute our strategies, and the results are encouraging. Not only have we continued to improve our cost structure, but our commitment to quality and excellent customer service allowed us to gain valuable new customers. Going forward, we expect continued revenue growth from our existing customers and expect to see additional revenue contributions from our new customer agreements sometime in the second quarter. As we continue to transition production to our offshore facilities, we expect our production costs to continue to decline, but we expect to experience some additional cost inefficiencies until our Torrance production and related support operations are fully relocated. MPA is on the right path, and we are beginning to see the strength of our business model and strategic initiatives," said Mr. Joffe.

Conference Call

MPA will host a conference call at 1:00 p.m. PT (4:00 p.m. ET) on Monday, August 14, 2006 to discuss results for the first quarter of fiscal 2007 ended June 30, 2006. Joining Selwyn Joffe, Chairman, President and CEO of MPA, will be Mervyn McCulloch, Chief Financial Officer. To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (800) 399-7496. International callers should dial (706) 634-6508. There is no pass code required for this call. If you are unable to participate in the call at this time, a replay will be available Monday, August 14 at 2:00 p.m. PT (5:00 p.m. ET), through Monday, August 21 at 9:00 p.m. PT (midnight ET). To access the replay dial (800) 642- 1687 and enter the conference ID number 4266072. This conference call will be broadcast live over the Internet and can be accessed by all interested parties on the MPA website at www.motorcarparts.com. To listen to the live call, please go to the MPA website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on MPA's website for 90 days.

Source : http://www.automotive.com (8/14/2006)

Cooper-Standard Automotive Announces Second Quarter 2006 Results
NOVI, Mich RNewswire/ -- Cooper-Standard Holdings Inc., the parent of Cooper-Standard Automotive Inc., today announced its second quarter 2006 financial results. Results for the period reflect the first full quarter results in our consolidated numbers of ITT Industries' automotive Fluid Handling Systems (FHS) division. The Company reported sales of $592.5 million and net income of $20.1 million. The Company is a leading global manufacturer of body sealing, fluid handling, and noise, vibration, and harshness (NVH) control parts for the automotive industry.

Sales in the second quarter 2006 were 21 percent higher than the same period in 2005, and year to date sales were 18 percent higher than the previous year, with both increases primarily due to the inclusion of FHS sales. Net income was $20.1 million, up $12.4 million from 2005, which was attributable to operational performance in addition to the inclusion of FHS. Year to date net income was $25.5 million, up $18.3 million over 2005. Second quarter 2006 interest expense was $22.6 million compared to 2005 interest expense of $16.5 million due to the incremental new debt associated with the acquisition and slightly higher interest rates.

"The second quarter continued to build upon the success of the first quarter," said Jim McElya, president and CEO. "Cooper-Standard delivered a $21.2 million quarterly improvement in Adjusted EBITDA, our fourth straight quarter of year over year improvement. Choosing the right acquisition, and then successfully integrating it, is a core competency of ours, and we are very pleased with the pace of bringing FHS into the fold. In spite of challenging conditions within the industry we are confident the company is poised for future growth."

Highlights of the Second Quarter 2006

Significant number of product launches: Cooper-Standard successfully launched products for the following vehicles during the second quarter of 2006:

*Alfa Romeo (Spider)
*DaimlerChrysler (Chrysler Pacifica, Jeep Compass, and ercedes M-Class)
*Ford (Ford Mustang, Land Rover Sport, and Volvo S80)
*General Motors (Chevrolet Avalanche and Saturn Aura)
*Nissan (Nissan Versa/Tiida and Kangoo)
*PSA (C-4 MPV, Expert, Jumpy, and Scudo)

NISCO Joint Venture launch:

*Acura RDX

Incremental new business awards: During the second quarter of 2006 the Company was awarded incremental annualized net new business of over $64.7 million, of which 40 percent was from customers other than the traditional "Big Three," bringing the year to date total net new business to $94.3 million.

Awards and recognitions: In recognition of excellence in various aspects of its operations, Cooper-Standard received the following industry awards:

*Global Six Sigma Summit Award for "Best Achievement for Design For Six Sigma"
*Nissan's Quality Master Certificate and Zero Defect Certificate (Torreon, Mexico facility)
*Automotive Component Holdings-Supplier Advanced Quality Planning Team-Winner's Circle status
*Techpoint's Advanced Manufacturing Mira Award-Finalist

NISCO Joint Venture award:
*Ford's Silver World Excellence Award

Adjusted EBITDA Reconciliation

EBITDA during the second quarter of 2006 increased $25.6 million to $79.2 million, and for the six months ended June 30th EBITDA increased $45.0 million to $139.8 million, compared to the same periods in 2005. After accounting for adjustments relating to restructuring, inventory fair value write up, and foreign exchange, Adjusted EBITDA for the second quarter in 2006 increased $21.2 million to $77.7 million, and for the six months ended June 30, 2006 rose $32.7 million to $142.7 million, compared to the same periods in 2005.

Source : http://www.automotive.com (8/14/2006)

Hallmark Financial Services, Inc. Second Quarter 2006 Earnings Results
FORT WORTH, Texas, /PRNewswire-FirstCall/ -- Hallmark Financial Services, Inc. today reported operating results for the second quarter of fiscal 2006. During the three months ended June 30, 2006, total revenues of the Company were $47.2 million, representing a 165.3% increase over the $17.8 million in total revenues for the second quarter of 2005. During the six months ended June 30, 2006, total revenues of the Company were $91.7 million, representing a 160.3% increase over the $35.2 million in total revenues for the first half of 2005. The increases in total revenues for the three and six months ended June 30, 2006 were primarily attributable to the acquisitions of new operating units in the first quarter of 2006 and the retention of business that was previously retained by third parties.

The Company reported a net loss of $2.8 million and $0.4 million for the three and six months ended June 30, 2006, respectively, compared to net income of $2.0 million and $3.8 million in the same periods in the prior year. On a diluted per share basis, net loss was $0.18 and $0.03 for the three and six months ended June 30, 2006, respectively, compared to net income per diluted share of $0.20 and $0.44 for the same periods in 2005.

During the three and six months ended June 30, 2006, the Company recorded $8.5 million and $9.6 million, respectively, of interest expense from amortization attributable to the deemed discount on convertible promissory notes issued in January, 2006. The principal and accrued interest on the convertible notes was converted to approximately 3.3 million shares of common stock during the second quarter of 2006 and the balance of the deemed discount is now fully amortized. In the absence of this non-cash expense, net income for the three and six months ended June 30, 2006 would have been $2.5 million and $5.7 million, respectively, representing a 25.7% and 47.9% increase over the $2.0 million and $3.8 million in net income for the similar periods of 2005.

"I am pleased by the significant growth in our revenues and the robust increases in our operating results for the second quarter and year to date," stated Mark E. Schwarz, Executive Chairman. "I believe that we are well positioned for continued success in our specialty and niche property and casualty insurance markets," Mr. Schwarz continued.

"We are now reaping the benefits of the strategic plans we began implementing last year," stated Mark J. Morrison, President and Chief Executive Officer. "Our successful 2005 capital plan paved the way for the accretive acquisitions and increased retention of profitable business which are now fueling our success. We look forward to retaining additional premium as we continue to integrate these acquisitions into our operations," Mr. Morrison concluded.

Source : http://www.automotive.com (8/14/2006)

Ford Fusion Life in Drive Awarded to Boston's Brandy Cruthird
BOSTON, PRNewswire/ -- Ford Fusion presented its Life in Drive award to Brandy Cruthird, president and CEO of Body By Brandy Fitness Center and Day Spa, at the grand opening of the Fusion Studio D at Natick Mall. At each stop of the Fusion Studio D tour, Ford will be awarding a "Life in D" award to a deserving female who combines talent with that little something extra that allows them to break free from convention to enjoy life with style and attitude.

Cruthird has helped to put the lives of others in drive by opening up the first fitness center in her community. She has been on a mission for the past decade to make the community she loves a healthier one. She has conducted numerous fitness demonstrations nationally and locally, including the YWCA's Breast Cancer Awareness Day, the African American Women on Tour Convention, and Dimock Health Center's Body & Soul Wellness Connection.

The award was presented to Cruthird by Steve Grant, Regional Sales Manager, Ford Lincoln Mercury.

Her annual community event, the "Everybody Walk Your Body Fitness Walk and Health Fair," began in 1997 in collaboration with Mayor Thomas Menino, and with the Boston Parks and Recreation Department. This event has contributed to the motivation of thousands to become physically in shape.

In 2006, Ford is taking Fusion Studio D, a lifestyle experience center where visitors can put their "Life in Drive" through an array of complimentary services from makeovers to fitness training and a health information center to various entertainment offerings. Fusion Studio D also helps raise awareness for the Race for the Cure which benefits the Susan G. Komen Foundation. The Boston race is slated for September 10, 2006.

Additional cities for Fusion Studio D include Chicago, Miami and Cleveland.

Source : http://www.automotive.com (8/14/2006)

Hickok Incorporated Reports Third Quarter and Nine Month Results
CLEVELAND, RNewswire-FirstCall/ -- Hickok Incorporated , a Cleveland based supplier of products and services for automotive, locomotive, and aircraft industries, today reported results for the third quarter and nine months ended June 30, 2006.

For the quarter ended June 30, 2006, the Company recorded net income of $293,975 or 24 cents per share, compared with a net loss of $342,537 or 28 cents per share, in the same period a year ago. Sales in the third quarter were $4,221,159, up 53% from $2,761,122 a year ago.

In the first nine months, the Company reported net income of $292,506 or 24 cents per share, compared with a net loss of $1,081,905 or 89 cents per share, in the same period a year ago. Sales were $10,537,784, up 37%, compared to $7,668,094 a year ago.

Robert L. Bauman, President and CEO, said that the improved operating results were a result of higher sales of automotive diagnostic equipment. The increase was primarily the result of initial shipments of a large order for a proprietary diagnostic product to the dealership network of a major vehicle OEM. He also stated that the remaining backlog relating to the order would increase revenues and operating results in the fourth quarter significantly. He further stated, the Company is optimistic that the product would find application in other OEMs and markets. He cautioned that while the Company's other businesses continue to show some improvement the Company continues to rely on large orders to provide positive operating results. He then went on to say that the Company continues to invest in a large emissions program with the State of California that could contribute significantly to fiscal 2007 revenues and operating results.

Backlog at June 30, 2006 was $4,746,000 an increase of 454% from the backlog of $1,046,000 a year earlier. The increase was due primarily to increased orders in automotive diagnostic products of $3,562,000, specifically, $3,857,000 for large OEM customers, offset in part by decreases of approximately $31,000 for non-emission aftermarket products, $148,000 for emission products and $116,000 for fastening products. Also contributing to the increase was $132,000 for indicators and gauges. The Company estimates that approximately 95% of the current backlog will be shipped in the last quarter of fiscal 2006.

The Company's financial position remains strong, with current assets of $9,227,149 that are 3.4 times current liabilities, and no long-term debt. Working capital at June 30, 2006 totaled $6,546,727 and shareholder's equity was $8,726,277 or $7.20 per share.

Hickok provides products and services primarily for automotive, locomotive, and aircraft industries. Offerings include the development, manufacture and marketing of electronic and non-electronic automotive diagnostic products used for repair, emission testing, and nut-running electronic controls used in manufacturing processes. The Company also develops and manufactures indicating instruments for aircraft, locomotive and general industrial applications.

Certain statements in this news release, including discussions of management's expectations for fiscal 2006, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those anticipated as a result of risks and uncertainties which include, but are not limited to, Hickok's ability to effectively develop and market new products serving customers in the automotive aftermarket, overall market and industry conditions, the Company's ability to capitalize on market opportunities as well as the risks described from time to time in Hickok's reports as filed with the Securities and Exchange Commission.

Source : http://www.automotive.com (8/14/2006)

MSX International reports $3.0m net profit in second quarter
MSX International, Inc., the provider of technical business services to the automotive sector which has UK offices in Essex, posted net income of $3.0 million for the quarter ended 2 July 2006. For the first six months of fiscal 2006 the company recorded net income of $3.7 million.

Net sales from continuing operations totalling $87.2 million for the second quarter of fiscal 2006 compared to $104.6 million for the second quarter of fiscal 2005. Sales from continuing operations for the first six months of 2006 totalled $175.8 million compared to $205.7 million in 2005. The reduction in sales primarily related to MSXI's Human Capital Services business. A significant portion of this decline was due to the exit of substantially all staffing programmes delivered to a 'major automotive supplier' that entered bankruptcy during 2005. In addition, revenues in all segments reflect additional spending reductions due to continued cost reduction initiatives by customers.

Gross profit from continuing operations declined during both the second quarter and first six months of 2006 due to lower sales volumes compared to 2005.

Income from continuing operations before interest and income taxes was $8.3 million for the second quarter, compared to $9.1 million in the comparable period of fiscal 2005. Interest expense in the second quarter of fiscal 2006 totalled $7.3 million, a $1.7 million decline from the comparable period of 2005, primarily the result of foreign exchange rate movements. Compared to 2005, such exchange movements had a favourable impact on the recorded value of fixed-rate, US dollar-denominated debt issued by the company's UK subsidiary. After an income tax provision of $1.8 million the company posted a net loss from continuing operations of $0.8 million.

MSX International posted net income of $3.0 million in the second quarter, including $3.8 million of income from discontinued operations, net of taxes.

Source : http://www.autoindustry.co.uk (8/14/2006)

Lookers increases dealerships
The franchise dealer group Lookers has acquired 10 Mercedes showrooms - and has also agreed to buy a further two Chrysler-Jeep dealers, two Lexus dealers and two Land Rover dealers.

The acquisition gives Lookers over 100 showrooms and is following a trend in the car retail market. In March, the Pendragon group bought over the Reg Vardy dealer chain, a move which made Pendragon the largest dealer chain in the country.

The merging of dealer chains has led to concern about new car prices. Prices could rise due to a lack of competition from multiple companies.

Professor Garel Rhys, director of the Centre for Automotive Industry Research at Cardiff Business School, told whatcar.com: 'In the future, car sales could be controlled by a handful of big companies, rather than the current proliferation of small organisations.

'In the short term, consumers may get a better deal, as companies fight for market share, but in the long term the biggest players could control prices and charge buyers more.'

Source : http://www.whatcar.com (8/14/2006)

Cee'd sown for Kia success
Kia's new small family car will be called Cee'd and will go on sale at the end of the year.

Pronounced 'seed', the Ford Focus-sized car takes its name from the concept vehicle that was seen at this year's Geneva Motor Show.

The production version, built in Slovakia, will be launched at the Paris show at the end of September, before heading to showrooms by December.

Kia has yet to confirm prices for the Cee'd, but expect it to undercut rivals such as the Peugeot 307 and the Toyota Corolla - both of which have list prices of just under £12,000 for cars powered by 1.4 petrol engines.

Kia says the name Cee'd is unconventional. 'The CE symbolises that this model in made in the European Community,' said Senior Vice President Jean-Charles Lievens. 'The ED indicates this car is a European design created with European customers in mind.'

Source : http://www.whatcar.com (8/14/2006)

Autoweb on Globalization: Competing, Surviving in a Flat World
ROCHESTER HILLS, Mich., PRNewswire/ -- The world is "flat" -- meaning that anyone, anywhere can perform a job for another company located halfway around the globe, says Stephen Koons, vice president of strategic business development for Autoweb.

The rise of the "flat world" or globalization, however, has brought about tumult as consumers pressure companies to bring competitive products to market faster and at reduced costs. Some see globalization as a threat as jobs are outsourced, but others see opportunities to increase revenues and recruit talented partners or suppliers.

To effectively survive and compete in the flat world, companies need to take advantage of new communications technologies and seek international collaboration, Koons notes. Autoweb is a global provider of engineering data management and exchange services and offers Web-based communications tools -- such as Workwise CX -- so firms can safely and securely communicate information across the world.

"The rise of China and India as developing economic powers and the high availability of information has created this so-called flat world," Koons says. "Access to the world's diverse and rich human resource pool has its benefits, but there are constraints of time and space that are forcing manufacturers to find ways to more effectively communicate and collaborate on projects."

The Internet offers companies the opportunity to be a truly global 24/7/365 (24 hours a day, 7 days a week, 365 days a year) operation. Yet, teams working on a complex project could be spread across wide geographic locations while also using disparate computer systems. Many small-to-mid-size firms often feel that they cannot afford the exorbitant costs of buying the appropriate software and hardware to make this system work, but Autoweb provides Workwise CX -- a hosted, Web-based solution so its customers can avoid financial headaches.

"The whole reason an organization invests in hardware and software is to get usable, actionable information; a process called the 'value stack,'" Koons says. "Months and sometimes years go by before some of these solutions are fully implemented, resulting in thousands of hours of lost productivity. A hosted, Web-based solution allows companies to bypass the implementation period and start working almost immediately."

By using hosted, Web-based solutions, such as Autoweb's Workwise CX, small, mid-size and large companies can quickly take advantage of the computer tools that multinational corporations have used for years to reduce costs and increase efficiencies.

For example, three competing automotive manufacturers recently began collaborating on a hybrid-electric vehicle project that involves more than 1,000 people spread over 11 global locations. The companies needed a common system where every hybrid team member could store and retrieve data, with secure access regardless of what time zone they were in or what computer system they were using.

After evaluating and rejecting traditional hardware and software solutions, the hybrid team turned to Autoweb's Workwise CX because it offered

a single tool for critical project functions such as calendaring, conferencing, document management and more.

"Autoweb is able to meet the three auto companies' stringent data security requirements," Koons says. "While this hybrid vehicle project just recently began, more than half of the project members are trained and are using Workwise CX.

"The project partners expect significant travel cost savings and anticipate a 15 percent reduction in their overall product-development time."

Autoweb's Workwise CX is a "federated space" that allows users to collaborate regardless of where they are located. They can create "virtual rooms" for specific business functions.

Based on UGS Teamcenter Community(TM), Workwise CX is available to users on a project-by-project basis in a secure, traceable environment. Product features include an on-demand data exchange that can move large engineering files quickly and securely.

"Through the 'access-from-anywhere' business model, Autoweb has helped thousands of companies achieve savings while avoiding the high costs of additional hardware, software and human resources," Koons adds.

Source : http://www.automotive.com (8/14/2006)

New BMW Kids Bike Puts A Spin On Biking Adventures
Playgrounds across the country will be buzzing with the news - The BMW Kids' Bike has a new, sleek look but the same impeccable quality and safety standards as its predecessor. Featuring an easy-to-install pedal system and adjustable seat, the Kids' Bike is designed to grow along with children from the initial stages of learning how to ride, to big kid pedaling. Using their feet first, children will develop a sense of balance early on without training wheels. Children can practice steering and hand-braking skills on the push-bike until they are ready for pedal-powered biking adventures.

The push-bike can easily be converted into a regular children's bicycle by fitting the solid plastic pedals with reflectors and chain. In BMW's trademark design and innovative style, the Kids' Bike comes in a striking blue and gray color and features a resilient bike frame and ergonomically shaped seat saddle and handle bars providing both comfort and safety.

Bmw Kids Bike Side View

Kids have plenty of places to stash treats accumulated on bike rides including the zippered crossbar bag perfectly fitted into the space between the bicycle frame, and a handlebar bag integrated into the detachable handlebar padding. Bag materials made out of sturdy synthetic materials with simple assembly required.

The BMW Kids' Bike retails for $300 and is intended for children ages two-and-a-half to six years old. It weighs 13 pounds without and 18 pounds with pedals. The maximum weight load for the Bike is 110 pounds. The frame ranges from 15 to 18 inches.

Source : Motor Trend (8/15/2006)

Hornish Reclaims IRL Points Lead With Kentucky Win
Indianapolis 500 champion Sam Hornish, Jr., took the lead from Scott Dixon with four laps to go and went on to win the Meijer Indy 300 Sunday at Kentucky Speedway, moving back into the front spot in the series driver points battle.

Hornish, a two-time IRL champion and all-time winningest driver of the series, won for the second time at the 1.5-mile Kentucky track. He beat Dixon by 0.5866 of a second and moved from an eight-point deficit to a seven-point advantage over his Marlboro Team Penske teammate Helio Castroneves, who finished 3rd after starting from the pole.

It was the fourth win of the season for Hornish, the 18th of his IRL career and his second at Kentucky Speedway.

Reigning IRL champion Dan Wheldon led the most laps (five times for 66 laps) but skidded through his pit stall late in the race and lost ground that he could not make up. He finished 4th, with Tony Kanaan 5th.

Interest in the race was stimulated by the return of Sarah Fisher, who was a popular competitor in IRL from 1999-2004, long before Danica Patrick came along. Fisher was the first woman to win the pole for an IRL race when she set fast time at Kentucky in 2002. She also has the highest finish for a woman in an IRL event, 2nd at Homestead, Florida, in 2001. Patrick's best finish so far is 4th.

Sunday's race, in a Dreyer & Reinbold entry, was Fisher's first IRL start since she finished 21st in the 2004 Indy 500.

The two women lined up side by side in the sixth row. Patrick finished 8th, while Fisher ended up 12th.

OTHER RACING: In NASCAR's second trip to a road course, Kevin Harvick battled past Tony Stewart and won the AMD at the Glen at Watkins Glen, New York; A.J. Allmendinger won the Denver Grand Prix, his fourth victory of the Champ Car season; Brandon Bernstein, Tommy Johnson, Jr. (Funny Car) and Dave Connolly (Pro Stock) were winners in the Lucas Oil NHRA Nationals at Brainerd, Minnesota; and Sebastien Loeb equaled Carlos Sainz's World Rally Championship mark of 26 victories by winning the OMV ADAC Rallye Deutschland near Trier in the Mosel region of Germany. It was the second race in as many weeks for the WRC, which had been idle for nearly two months for its usual summer break. Also, in preliminary events at Watkins Glen, pole starter Kurt Busch won a ferocious duel with Robby Gordon to take the Busch Series Zippo 200 on Saturday, and Scott Pruett and Luis Diaz won the Rolex Sports Car Series Crown Royal 200 Friday.

NEXT WEEK: The NASCAR Nextel Cup circuit moves to Michigan International Speedway for the GFS Marketplace 400; the NHRA PowerAde Drag Racing Series is in Memphis for the O'Reilly Mid-South Nationals; and the FIA World Rally Championship is in Scandinavia for the Neste Rally Finland.

Source : http://www.edmunds.com (8/14/2006)

New Mini Shows Its Face
The next-generation Mini is about to take its first bow. Just-released images and details indicate that BMW has poured increased levels of mechanical sophistication and complex construction techniques into the familiar and well-loved skin of the little hatchback.

The new Mini is pictured here officially for the first time, ahead of a public debut at the Paris Motor Show in late September. The images show that the new three-door hatchback holds firm to the retro-inspired appearance and two-box silhouette of its predecessor. However, the car has grown 2.4 inches in length, thanks to a newly designed front end with a longer overhang and a redesigned hood. Both changes are aimed at meeting tough new European pedestrian-safety regulations - and improving the Mini's Euro NCAP rating in the face of improved small-car competition.

At the heart of the new Mini is an all-new DOHC 16-valve 1.6-liter four-cylinder engine. It was developed as part of a joint venture between BMW and PSA Peugeot-Citroën. There will be two versions: A normally aspirated unit in the Cooper develops 120 horsepower at 6000 rpm and 118 pound-feet of torque at 4250 rpm, and a more performance-oriented unit in the Cooper S boasts both direct injection and a twin-scroll turbocharger, producing 175 hp at 5500 rpm and 177 lb-ft of torque at just 1600 rpm.

Both engines are claimed to provide better fuel economy than the old Mini's Brazil-sourced 1.6-liter four-cylinder Tritec engine, which kicked out 115 hp in the Cooper and 170 hp in the Cooper S. Standing-start acceleration is also said to have improved, despite increases in curb weight. Buyers can choose between a standard six-speed manual gearbox (previously only available on the Cooper S) and an optional six-speed automatic, which gets remote shift paddles and a sport mode to shorten up the shift times.

BMW promises the new Mini will be every bit as engaging to drive as its predecessor while introducing greater levels of ride comfort and improved refinement on the road. Underpinning the compact hatchback is a heavily reworked MacPherson-strut front suspension with greater wheel travel and altered geometry. The rear multilink arrangement is similar in design to the outgoing model, but many components are now made from aluminum instead of steel in a move that is claimed to reduce weight and sharpen responses. The steering has also been revised; a new electric-hydraulic system replaces the earlier Mini's fully hydraulic system.

In keeping with its premium positioning, the new Mini's safety kit is comprehensive. It includes six airbags and standard ABS, EBD (electric brake differential) and CBC (cornering brake control) on all models. The Cooper S also adds ASC+T traction control and dynamic stability control. The DSC system incorporates a new hill-holder function in which the brakes are activated on steep inclines to prevent the car from rolling backward.

In a bid to further extend the Mini's appeal, BMW plans to launch a new entry-level model early next year that will have a 75-hp 1.4-liter four-cylinder engine in place of today's 90-hp 1.6-liter unit. Also under development at the German carmaker's headquarters in Munich is a more practical long-wheelbase version of the Mini, as previewed by the Traveller concept first wheeled out at the Frankfurt Motor Show last year.

Source : http://www.edmunds.com (8/14/2006)

Goodyear Wrangler Goes 'Pro' With New Heavy-Duty Tire for Working Pickup Trucks
AKRON, Ohio, PRNewswire/ -- The Goodyear Tire & Rubber Company today introduced the latest addition to its premium Wrangler(R) lineup of tires -- the Wrangler featuring SilentArmor Technology Pro-Grade. Sporting a new tread compound, the enhanced toughness and treadwear capability of the new Wrangler Pro-Grade tires is for contractors, landscapers, boaters, horse enthusiasts or any other professional or private pickup truck owner who regularly hauls or tows heavy loads.

According to the latest available government reports, there are more than 39 million registered pickup trucks on the road in the United States(1). Whether hauling a heavy load to a construction site, pulling a trailer loaded with landscaping equipment or towing a boat, American workers and consumers are relying more and more on three-quarter and one-ton pickup trucks to deliver the power and versatility they require. In fact, according to statistics from Power Information Network, a division of J.D. Power and Associates, sales of heavy-duty pickups as a percentage of overall pickup truck sales have increased steadily each year for the past three years from 25.3% in 2003 to 31.9% in 2005.

"Three-quarter and one-ton pickups generate more torque than full-size, half-ton trucks, and that extra torque can contribute to faster tread wear, especially on vehicles that are frequently loaded or towing," said Todd Hershberger, Goodyear general marketing manager for light-truck and SUV tires. "The new Wrangler SilentArmor Pro-Grade helps provide a tough tread for those who use their trucks in heavy-duty, high-torque applications -- all the while delivering the comfortable and quiet ride they expect from Wrangler with SilentArmor Technology."

The Wrangler SilentArmor Pro-Grade is a perfect complement to the American work truck. Rugged toughness under constant heavy use is a focal point of this product. A new, chip- and chunk-resistant tread compound enhances tread wear in heavy loading and towing applications. Two high-tensile steel belts and a layer made with DuPont(TM) KEVLAR(R) (two layers of KEVLAR in Load Range E sizes) help absorb road noise and provide a smooth and quiet ride. The tire also features an enhanced Rim Lock, offering a more stable bead area to reduce rim slip for minimal balancing throughout the life of the tire and a Rugged Rim Guard, which helps protect expensive wheels from accidental curb damage.

The Wrangler SilentArmor Pro-Grade also features a rugged tread pattern for a consistent tread contact patch at a variety of load and speed conditions, to maximize traction in all conditions, and enhance tread life and resistance to uneven wear. Unique traction ridges are also used within the tread of the tire for enhanced traction in wet or muddy conditions, and the tire bears the industry's mountain-snowflake symbol, certifying it for "severe snow" usage.

Goodyear's exclusive Durawall(TM) rubber compound, borrowed from Goodyear's tire for severe off-road use, the Wrangler MT/R, reinforces the sidewall to help resist punctures and cuts; it also appears in the tread region on the Wrangler Pro-Grade to enhance resistance to rock drilling in the tread grooves.

The Wrangler SilentArmor Pro-Grade carries a consumer-friendly after-sale package to extend the feeling of confidence in the product. The "Wrangler Utility Package" offers:

- 50,000-mile treadlife limited warranty
- 30-day no obligation trial period
- Nationwide warranty service
- Online product registration
- Off-road assistance

The Pro-Grade icon, with the Goodyear wingfoot design between 'Pro' and 'Grade', appears on the tire's sidewall to call out the professional grade performance consumers can expect from this tire.

Wrangler SilentArmor Pro-Grade fits the most popular 'working trucks' on the road, including some of the best-selling heavy-duty and super-duty trucks today, such as Ford F-250 and F-350, Chevy and GMC 2500 and 3500 models, and Dodge 2500 and 3500. Pro-Grade expands the availability of Goodyear's popular SilentArmor Technology, currently available in 33 sizes covering P-metric, LT- metric and high flotation applications for 15-18 inch rims, with 14 select LT sizes with load ranges D and E and rim diameters ranging from 16-20 inches. This 47-size lineup will continue to grow, with seven more sizes scheduled to be added in 2007.

Source : http://www.automotive.com (8/14/2006)

Intermet Names Bill Whalen as CFO
TROY, Mich., PRNewswire/ -- Intermet Corporation, one of the world's leading manufacturers of cast-metal automotive components, today announced that William H. Whalen has joined Intermet as Vice President of Finance and Chief Financial Officer. In this position, Whalen will assume responsibility for all financial operations of the company.

Whalen replaces Bob Belts, who has served Intermet in this position since August of 2002. Belts announced earlier this year that he would be leaving Intermet, but agreed to stay on until a replacement was named and responsibilities transitioned.

Whalen brings 25 years of diversified and international manufacturing and financial background to Intermet, including 15 years in the Tier-1 automotive supply industry. He most recently led the Finance organization for Magna International's Intier Automotive Interiors operations in North America and Asia. Before Magna, he held key financial leadership positions with United Technologies Corporation and Ernst & Young. Whalen also brings to Intermet a history of successful implementation of "best-in-class" financial processes and procedures.

Whalen has an MBA from the University of Virginia, and is both a Certified Public Accountant and Certified Management Accountant.

Intermet Corporation is a leading manufacturer of cast-metal components for the automotive, commercial-vehicle and industrial markets. With approximately 5,000 employees worldwide and over 700,000 tons of annual casting capacity, the company is organized into five distinct manufacturing groups: Die Casting, Domestic Ferrous, Missouri Die Casting, PCPC and Europe.

Source : http://www.automotive.com (8/14/2006)

WyoTech Fremont to Host Open House on August 19
FREMONT, Calif., PRNewswire-FirstCall/ -- WyoTech Fremont is hosting an open house at its new, state-of-the-art facility for motorcycle technology training -- the only program of its kind in California. The event will be held on Saturday, August 19, 2006 from 10 a.m. to 4 p.m. at the WyoTech campus at 200 Whitney Place in Fremont.

The motorcycle technology programs provide students with the technical skills to diagnose, service and repair a wide variety of motorcycles including Harley Davidsons, Asian bikes (Honda, Kawasaki, Suzuki and Yamaha) and European bikes (BMW, Ducati and Triumph). All of the motorcycle technology programs offered by WyoTech are accredited by the Accrediting Commission of Career Schools and Colleges of Technology (ACCSCT).

The new 30,000 square foot motorcycle training facility houses nine classrooms, two labs, 48 lifts, two dynomometers or dynos (machines for testing speed, horsepower and torque) and 14,000 square feet of motorcycle shop space.

"Our new motorcycle technology programs, combined with the new training facility, are designed to prepare students for a successful career as a motorcycle technician," said WyoTech Fremont President Mark Millen. "We believe strong demand exists for motorcycle technicians and are excited about adding these new programs to our existing technical and trade offerings."

The open house will feature a motorcycle stunt show, campus tours, instructor demonstrations and refreshments. Numerous cars and motorcycles will be on display, including "SpeedAir" the 1957 Chevy featured on the popular television program "Overhaulin" on TLC (The Learning Channel).

Source : http://www.automotive.com (8/14/2006)

Thrifty Car Rental Offers 'Double Credits' for Blue Chip Rewards Rentals Through Nov. 15
TULSA, Okla., PRNewswire-FirstCall/ -- Thrifty Car Rental, a subsidiary of Dollar Thrifty Automotive Group, Inc. , has Blue Chip Rewards members seeing double. From Aug. 15, 2006 through Nov. 15, 2006, Thrifty will treat members of the Blue Chip Rewards program to "double credits" when they book their reservation on www.THRIFTY.com . The "double credits" offer is available on rentals that take place from Aug. 15, 2006 through November 15, 2006.

Blue Chip Reward members earn free days on qualifying rentals at participating Thrifty locations in the U.S. and Canada. Members are awarded one free day when a member earns 16 credits. Ordinarily, members earn one credit for each rental day based on a 24-hour rental day starting at the time of rental. During the promotional period, they will earn two credits for each rental day.

Blue Chip Rewards is an enhancement to the company's Blue Chip Express Rental Program(R) promising expedited service, and is available to members who elect to sign up for the program. Members will have to choose whether they earn Blue Chip Rewards credits or frequent flyer miles/points when they rent, but not both. Those choosing to earn frequent flyer miles/points must provide their frequent flyer number on the enrollment form or at the time of rental. Members may change their Reward selection at any time by modifying their profile on www.THRIFTY.com , or by calling Blue Chip Member Services.

To sign up, new customers may visit www.THRIFTY.com or call Blue Chip Member Services at 1-888-400-8877; current Blue Chip members can update their profile using the same contact information. Credits may be tracked online at www.THRIFTY.com .

Free days are redeemable in the U.S. and Canada and apply to time and mileage only. Free day certificates are available for use on rentals of compact through full size cars and minivans. Blue Chip Rewards credits are valid for one year from the date of issue. To sign up, visit www.THRIFTY.com or call Blue Chip Member Services at 1-888-400-8877.

To book a reservation with Thrifty, visit www.THRIFTY.com , call 1-800-THRIFTY in the U.S. and Canada, or consult your professional travel agent.

Thrifty Car Rental is a subsidiary of Dollar Thrifty Automotive Group, Inc., a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Together with its corporately-owned locations and those of its franchise owners, the Thrifty Car Rental brand serves value-conscious travelers from more than 1,100 locations in 64 countries.

Source : http://www.automotive.com (8/14/2006)

ProQuest Business Solutions Enters Agreement to Acquire Dealer Computer Services, Inc. Electronic Parts Catalog (CPD) Business
RICHFIELD, Ohio, PRNewswire-FirstCall/ -- ProQuest Business Solutions Inc., a subsidiary of ProQuest Company , has entered into a definitive agreement to acquire the CPD electronic parts catalog business of Dealer Computer Services, Inc. (DCS). This acquisition is expected to close shortly after receiving regulatory and other approvals.

Once regulatory approval is received, ProQuest Business Solutions will update the CPD product used by Ford and Lincoln-Mercury dealers with the latest vehicle and parts information and all licensed CPD dealers will be contacted directly by representatives of ProQuest Business Solutions.

"We are extremely pleased to be able to provide Ford and Lincoln-Mercury dealers with data updates for their Ford CPD electronic parts catalog. We intend to regularly update and fully support the CPD product with the same rigor and world-class service our customers have come to expect from us," said Andy Wyszkowski, president of ProQuest Business Solutions. The acquisition will immediately transfer over 2,000 Ford and Lincoln-Mercury CPD customers to ProQuest Business Solutions.

ProQuest Business Solutions is the original developer and a global leader of electronic parts catalogs, which are used by over 33,000 dealerships worldwide. ProQuest products transform complex technical data, like parts catalogs and service manuals, into easily accessed electronic information for the world's automotive manufacturers and their dealer networks. ProQuest also provides business-to-business information and retail performance measurement services. For more information on ProQuest Business Solutions, call 888.543.0894 or visit proquestautomotive.com.

Source : http://www.automotive.com (8/14/2006)

Geely, Other Chinese Automakers' U.S. Hopes Hit Roadblocks
SCOTTSDALE, Ariz., PRNewswire-FirstCall/ -- eDirectGlass, the worldwide leading provider of Internet based AGRR point-of-sale and mobile technologies, a wholly owned subsidiary of AMJ Logistics, Inc., today announced free website and e-mail hosting for any automotive glass repair or replacement shop located in the USA or Canada.

"The Internet is a very important marketing tool in today's fast paced economy. As more consumers turn to the Internet to have their vehicles serviced and schedule related appointments, it is important that AGRR shops take full advantage of the Internet now," said Gary Hart, president and CEO of eDirectGlass. "Most shop owners and managers are too busy to research and maintain their company's Internet presence. eDirectGlass will assist these companies in the setup, construction and content of their website; in addition to the free hosting. A big part of a shop's website is the ability for consumers to schedule repair or replacement jobs at their convenience. eDirectGlass is not only the first company to make this offer but also the only one with the technology to allow the appointment to go directly in to the shop's eDirectGlass TSM Gold online point-of-sale account," continued Hart.

Shops do not need to be eDirectGlass TSM subscribers to take advantage of this offer; however, to maximize the benefits of consumer scheduling and online job quotes, it would be in the best interest of the shop to maintain a free eDirectGlass TSM Gold account. The eDirectGlass TSM Gold account consists of:

*Assignments and Scheduling including Lynx Electronic Assignments/Authorization
*FREE EDI (electronic network invoicing)
*VIN Decoding
*Accounts Receivable
*Inventory Management
*Document & Image Management
*CRM & Agent Management
*Reports
*And MORE including working from anywhere at anytime!

The eDirectGlass Internet hosting system also works in conjunction with the Independent Glass Associations Internet marketing program, Jobs4You. "Jobs4You allows shops to capture market share and distribute it back to the industry in a way which respects consumer choice and puts control of price in the hands of each individual shop," says Dave Zoldowski, president of the IGA.

By making point-of-sale and Internet technology available broadly and freely, eDirectGlass is providing users the opportunity to experience benefits they did not or could not realize with their current systems. These systems have done nothing innovative to lend the change necessary for shops to compete in the marketplace. These disparate systems have fragmented the supply chain and have made it impossible for vendors and shops to conduct business on a one-to-one basis.

eDirectGlass website and e-mail hosting is immediately available at no charge by visiting webhost.edirectglass.com or contacting the eDirectGlass sales department at 480-993-0915.

Source : http://www.automotive.com (8/14/2006)

AIAG and Omnex Announce Global Partnership
DETROIT, PRNewswire/ -- The Automotive Industry Action Group (AIAG) and Omnex Inc. announced the formation of a global training and consulting partnership between the two companies to offer Lean/Six Sigma education and training in Asia. As part of the agreement, Omnex will deliver AIAG-accredited training programs in China, India, Thailand and the Asian market.

AIAG was formed by representatives from Ford Motor Co., General Motors Corp. and Chrysler Corp. in 1982 and now has thousands of members around the world from the automotive industry.

Omnex began its Asian Operations in 1995. Now with six fully functional offices in the Asian region, and having served more than 6,000 Asian clients, Omnex has earned a solid reputation throughout Asia as a provider of automotive consulting solutions and Lean/Six Sigma. Currently, Omnex has more than 125 employees in Asia with plans to increase to about 175 people by year's end.

Dr. Yilong Chen, general director of Asia Pacific affairs and chief representative in China said, "AIAG looks forward to the opportunity to partner with Omnex in both North America and Asia. We share a common vision to provide consistent state-of-the-art quality education and training that support the emerging needs of our growing membership worldwide."

Omnex' vice president, Arun Kumar, expressed his company's excitement: "AIAG has been at the forefront of automotive industry improvement for years, and we are proud to provide accredited training programs, including the AIAG Lean/Six Sigma training in Asia. We also believe that our expertise and our existing infrastructure in India and Asia uniquely suit AIAG's desire to provide services and rapidly expand in the automotive industry."

Now, in Asia, companies can look forward to world-class quality training to Lean/Six Sigma that is accepted by a global body like AIAG. More information on Lean/Six Sigma training offerings will be shared with AIAG members in the coming months.

Source : http://www.automotive.com (8/14/2006)

Sleek new concept from Peugeot
Peugeot will show off a new 908 RC concept limousine at the Paris Motor Show in September.

The sleek-looking car uses a 700bhp 5.5-litre V12 diesel, an engine designed to take part in the 2007 Le Mans Series Race. It's enough to power the car to over 186mph, and features dual particulate filters to remove harmful particles from the exhaust.

To cope with the enormous 885lb ft of pull the engine develops, a unique six-speed sequential gearbox has been designed - and unusually, it sits under the engine.

By positioning the engine and gearbox in such a way, Peugeot claims it has freed up more room in the passenger cabin.

The cabin has a huge front windscreen that allows a completely unimpeded view. The windscreen stretches behind the driver's head, until the glazed roof begins.

Inside, there are four individual seats, dark oak trim, grey leather upholstery, and a posh Bell and Ross clock.

All the car's functions, including the radio, MP3 player, satellite-navigation, and four-zone air-conditioning, are controlled from a large touch-screen, which Peugeot calls Man-machine Interface (MMI). Rear passengers can also access the MMI, because a screen is also positioned on the centre console between the seats.

The Paris Motor Show runs from September 28 to October 15.

Source : http://www.whatcar.com (8/14/2006)

How to... change a wheel
Changing a wheel isn't difficult and can get you on your way quicker than calling breakdown services

In the next instalment of whatcar.com's video features, we show you how to change a wheel. It may seem easier to call your breakdown service when you have a puncture, but do it yourself and you could be on your way in a fraction of the time.

Source : http://www.whatcar.com (8/14/2006)

MX-5 Roadster Coupe prices revealed
Mazda has lifted the lid on prices for its MX-5 Roadster Coupe.

The range will start at £18,210 for the 124bhp 1.8i model.

All Roadster Coupes will come with climate control and the Option Pack from the soft-top model as standard.

That means every Roadster Coupe will have 16in alloy wheels, and a leather-covered steering wheel, gear lever and handbrake.

Buyers can also opt for the 158bhp 2.0-litre engine with either five- or six-speed gearboxes.

Mazda reckons the folding hard top is the fastest-acting roof in the world, taking just 12 seconds to stow away or fold back up.

The new roof does not affect the boot space of the MX-5, and the Roadster Coupe has the same 150-litre capacity as the soft-top model.

Mazda says performance is also unchanged from the soft-top's, because the metal roof adds only 37kg to the weight of the MX-5.

You can pre-order a Roadster Coupe now, and deliveries begin in November.

Source : http://www.topgear.com (8/14/2006)

Gentex Increases Quarterly Cash Dividend Rate and Board Authorizes Additional Share Repurchase
ZEELAND, Mich RNewswire-FirstCall/ -- Gentex Corporation , the Zeeland, Michigan-based manufacturer of automatic-dimming automotive rearview mirrors and commercial fire protection products, today announced that its Board of Directors approved a six percent increase in its quarterly cash dividend rate from $0.09 to $0.095 (9 1/2 cents) per share. The Board subsequently declared a quarterly cash dividend of $0.095 per share that will be payable October 20, 2006, to shareholders of record of the common stock at the close of business on October 6, 2006. The ex-dividend date is October 4, 2006. Due to the required period of time for the settlement of stock trades, this means that a holder must have purchased shares of Gentex common stock on or before October 3, 2006, in order to receive this cash dividend.

In addition to the dividend rate increase, the Company's Board of Directors also approved the repurchase of up to an additional eight million shares of the Company's stock under its existing share repurchase plan. The Company now has a share repurchase plan in place with authorization to repurchase up to 24 million shares of the Company's stock. Under the plan, the Company may, from time to time, purchase additional shares of its common stock based on a number of factors, including market conditions, the market price for the Company's common stock, anti-dilutive effect on earnings, available cash and other factors as the Company deems appropriate. As of the end of the second quarter of 2006, including the prior share repurchases in 2003, 2005 and 2006, the Company had repurchased approximately 12,331,000 shares, leaving up to approximately 11,669,000 shares authorized to be repurchased under the plan.

"The additional share repurchase authorization reflects our belief in the long-term growth prospects for Gentex, and we believe that the cash dividend remains an appropriate way to return cash to the Company's shareholders given the current U.S. tax laws," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer.

Source : http://www.automotive.com (8/14/2006)

Innovative Products Help Suppliers Position Themselves in the Competitive Original Equipment Brake Systems Market
PALO ALTO, Calif., /PRNewswire/ -- Disc brakes were the last major innovation to take hold in foundation brakes. Now, suppliers of brake systems are developing electrically actuated calipers to replace hydraulic units. Although implementation in production vehicles is believed to be years away, emerging brake-related technologies such as electric brakes, emergency brake assist and electronic brake force distribution offer a range of benefits. Innovative technologies such as these enable suppliers to compete in this challenging market.

New analysis from Frost & Sullivan's Automotive & Transportation Group (http://www.transportation.frost.com ) finds that the North American OE Brake Systems Markets earned revenues of $11.74 billion in 2005 and projects this to reach $12.57 billion in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants an overview of the North American OE Brake Systems Markets, then send an e-mail to Tolu Babalola, Corporate Communications, at tolu.babalola@frost.com , with your full name, company name, title, telephone number, fax number and e-mail address. The brochure will be e-mailed to you upon receipt of this information.

"Foundation brake systems are used one per vehicle, meaning that the demand exactly matches vehicle production. However, electronic brake control systems are optional. Stability control systems are a major advance over antilock brake systems, and this expects to expand demand for electronic brake control systems," observes Frost & Sullivan Senior Industry Analyst Joerg Dittmer. "Additionally, stability control systems are more expensive than antilock brake systems, which also boosts revenues as the market transitions to them."

Although antilock brake systems enhance drivers' control over their vehicles on test tracks, in an actual on-the-road experience, they have done little or nothing to reduce accident rates. However, several studies of stability control systems have found that they do reduce accident rates in real-world driving.

Suppliers to vehicle makers face many challenges, which combine to pressure their profitability. Against a backdrop of continual pressure for lower prices from vehicle makers, suppliers must contend with rising materials prices, uncertain volumes and demands from vehicle makers that they take on more research, development, testing and validation work. With safety-related technologies, there is the additional challenge that systems must be 100 percent reliable right from the start.

"A number of major suppliers in the auto industry, caught between declining prices for their products and rising prices for their inputs, have been driven to declare bankruptcy. The largest of these is Delphi Corp., which supplies brake systems along with numerous other products," states Dittmer.

From procurement to manufacturing to inventory management, market participants are responding by maximizing efficiency in all aspects of their operations. Some specific steps they are taking are just-in-time purchasing to reduce raw materials inventories, faster throughput to reduce work-in- progress inventories and just-in-time production to reduce finished goods inventories. Automation can reduce labor costs and scrap rates, as well as increase quality. Finally, shifting production of basic, labor-intensive products abroad can reduce labor costs as well.

North American OE Brake Systems Markets is part of the 9813 North American Advanced Automotive Technologies subscription. This subscription includes research in the following markets: suspension systems and modules, in-vehicle network technologies and protocols, and vision systems. All research included in subscriptions provides detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with Frost & Sullivan analysts are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1,000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.

Source : http://www.automotive.com (8/14/2006)

CSM Automotive Production Barometer (APB) - August 2006
DETROIT, RNewswire/ -- CSM Worldwide, the leading provider of market intelligence and forecasting to the automotive industry, announces the August 2006 CSM Automotive Production Barometer(TM). Released in advance of existing sources of information, this service provides an accurate record of light vehicle production for the previous month to assist automotive economists and financial analysts in their ongoing industry evaluations.

The CSM Automotive Production Barometer for August 2006 and release schedule is currently available via the CSM Worldwide website: www.csmauto.com/auto-production-barometer .

Each year, July marks an unusual month for light vehicle production as the traditional two-week summer shutdown period typically results in the lowest production volume of the year. U.S. light vehicle production continued its slide, declining 9.20% in July versus a year ago to a seasonally adjusted 10.39M units. Total U.S. car production dropped 10.50% over last year with light truck output down 8.50% from last year's levels. Actual unit production in the United States totaled over 530,000 units in July, an 8.10% decline from July last year. North American production inched up 0.30% over last July to a seasonally adjusted 15.17M units. Year to date, production continues to outpace last year at 15.80M units, 2.10% above last year's pace through the first half of the year.

For the New Six North American manufacturers, year-to-date production is up slightly by 0.30% from year-ago levels and accounts for 94.1% of total North American output. Year-to-date production in North America is up for most manufacturers, with the exception of Ford Motor Co. and Nissan, down 2.90% and 4.60% respectively. Ford Motor Co. and Nissan continue to be points of weakness and are expected to remain in the negative for the remainder of the year. Amid an environment of increasing uncertainty and volatility, the rest of 2006 is now expected to be weaker than previously expected.

"There are a number of pessimistic scenarios that were previously outside the baseline forecast for 2006 that are being integrated for the remainder of the year," said CSM Worldwide Market Analyst Joe Langley.

Under this revised outlook, General Motors Corp. is expected to see any expected gains washed away as production of full-size pickups transition to the new GMT900 models. Ford Motor Co. will experience even wider losses for the year, and Nissan will recover slightly from current levels with the launch of several new high-volume vehicles. Amid rising and volatile fuel prices and escalating concern surrounding global events, consumers may stay on the sidelines for an extended period. Overall, the market will likely experience an accelerated shift between the types of vehicles that are purchased and produced rather than an outright decline.

Most vulnerable to these market-climate changes are mid- and full-size trucks. With already high inventory levels, manufacturers plan to implement downtime and stem overtime at plants for the remainder of the year. Highly correlated with economic activity, full-size pickups are expected to take a slight hit based on a slowdown in new-housing starts. Consumers' realigned fuel-pricing expectations are a consideration for these vehicles, as well as in the SUV market. The traditional mid-size SUV market is at even greater

Risk than the full-size market due to a more price sensitive buyer demographic

Source : http://www.automotive.com (8/14/2006)

AT&T Wins Global Networking Contract From TRW Automotive
LIVONIA, Mich., PRNewswire-FirstCall/ -- AT&T Inc. today announced a two-year, multimillion-dollar contract with TRW Automotive Holdings Corp. , one of the world's largest automotive equipment suppliers.

Under the terms of the agreement, AT&T will provide an Internet Protocol Virtual Private Network (IP VPN) solution, integrating 170 TRW locations in 25 countries across five continents. The VPN solution supports TRW's day-to-day operations and provides peak efficiency, reliability and security for all of its voice and data communications around the world.

TRW, a global leader in automotive safety systems, is one of the world's top producers of automotive braking, steering and suspension systems as well as a leading supplier of occupant safety systems for inflatable restraints, seat belts and steering wheels. With more than 63,000 employees, the company supplies more than 40 major vehicle manufacturers and holds leading positions in all of its primary product categories.

"AT&T's global reach, superior technology and competitive pricing were the three ingredients we were looking for," said Joe Drouin, chief information officer for TRW.

The new network runs on AT&T's industry-leading Multiprotocol Label Switching (MPLS) platform and provides a significant increase in bandwidth at a lower cost. The increased speed and capacity of the network enables TRW to economically and efficiently support Enterprise Resource Planning (ERP) and business process collaboration globally. In addition, AT&T's MPLS technology has inherent disaster recovery capabilities and provides an efficient migration path to Voice over IP (VoIP) services.

"The transition from frame relay to MPLS significantly improves our network architecture by providing any-to-any connectivity and Class of Service (COS) prioritization for key enterprise applications on a global basis," said Darryl Staskowski, infrastructure director for TRW.

TRW can also monitor the performance of its network and applications through the secure AT&T customer portal, AT&T BusinessDirect(R), which provides operational efficiencies including around-the-clock online access to real-time reports on network performance and direct connection to trouble management systems. Yankee Group recently named AT&T BusinessDirect the best enterprise customer portal for the second consecutive year for providing customers with the strongest online support and services experience in the industry (Source: Yankee Group, Business E-Portals Continue to Evolve to Meet Enterprise Customer Needs, April 2006).

Source : http://www.automotive.com (8/14/2006)

UGS to Integrate Chinese Technology from Jilin University to Enhance NX Digital Product Development Software
PLANO, Texas and BEIJING, /PRNewswire/ -- UGS Corp., a leading global provider of product lifecycle management (PLM) software and services, today announced an original equipment manufacturer (OEM) agreement with Jilin University (JLU) to integrate one-step formability analysis technology developed by JLU into NX(TM) software, UGS' digital product development solution. The technology, developed by JLU's Institute of Auto-body and Die Engineering (IADE) helps improve design and manufacturing processes and is expected to be available in NX commercially in the third quarter of 2006.

"We are excited about the opportunity to collaborate with talented researchers and engineers from Jilin University who share UGS' vision in innovation and knowledge sharing to provide the best cutting-edge technology for our customers," said Chuck Grindstaff, executive vice president of Products, UGS. "This partnership is a testament to the success of UGS' GO PLM(TM) (Global Opportunities in Product Life cycle Management) initiative as well as our overall commitment to China."

"Jilin University is very honored that UGS, a global leader in PLM, has validated our research efforts," said Professor Ping Hu, Dean of IADE of Jilin University. "We remain committed to the success of the Jilin University/UGS Digital Manufacturing Education Centers to equip designers and engineers' with the latest knowledge to design products. Our cooperation with UGS enables the graduates of Jilin University, especially those with NX Certifications, to be even better placed to offer employers value in today's competitive job market."

The Institute of Auto-body and Die Engineering is one of the beneficiaries of UGS' GO PLM(TM) Initiatives. In November 2005, UGS granted NX and NX Nastran software with a retail value of US$169 million and technical support to Jilin University and set up the Jilin University/UGS Digital Manufacturing Education Centers to help develop Certified NX Specialists for China's growing economy.

NX transforms the entire product development process to enhance design quality and increase efficiency. More than a suite of integrated CAD, CAM and CAE applications, NX goes beyond individual and departmental productivity to improve efficiency in the overall process, and at each step in the process. A comprehensive solution, NX is built on an open foundation and advanced technologies that directly support initiatives to transform business processes.

Source : http://www.automotive.com (8/14/2006)

New Oxlo Tools Accelerate Automotive Retail Innovation
BROOMFIELD, Colo., PRNewswire/ -- Oxlo Systems Inc. introduces Self Service Integration(TM) (patent pending), Self Service Deployment(TM) and Oxlo Partner Portal -- a suite of tools that's making dealer software faster, easier and cheaper to integrate and deploy. The innovative tools enable faster rollouts of new integrated business processes by streamlining dealer system providers (DSPs) integration development and deployment efforts through automation and simplification.

Oxlo's patent pending Self Service Integration efficiently guides DSPs through a successful integration development. It consolidates all necessary content including a guided step-by-step development process, specifications, sample use cases and end-to-end test cases with real-time automated feedback and error code identification. Developers now have access to everything they need 24/7 including closed-loop testing for instant feedback -- eliminating the lag associated with development verification.

The Self Service Deployment tool automates the process of initiating and configuring a dealer business system to a new business process through the Oxlo Dealer Communications Hub. Streamlining this process simplifies the task for DSPs and increases the pace for automakers rolling out new integrated business processes.

"Automaker success is becoming increasingly dependant on tighter collaboration with the dealer channel," said Thilo Koslowski, Research Vice President, Gartner, Inc. "Automakers can leverage IT technologies to achieve tighter collaboration with their retail partners, and those companies who get there first will enjoy a competitive advantage," added Koslowski.

The Oxlo Partner Portal is a centralized Web portal that provides customers and partners with private access to view and manage their Oxlo integration services. The Oxlo Portal enables access to the Self Service Integration and Self Service Deployment tools, as well as reports that provide partners with metrics for all associated transactions passing through the Oxlo hub. The Oxlo Portal provides partner personnel access to the information and tools they need in one convenient location, from a manager seeking a high- level development status or dealer rollout progress to developers actively working on new integration code.

New integrations, while critical to DSP offerings, have historically represented a significant resource drain. With Oxlo's new tools, DSPs are able to reduce the time and resources required to complete integration developments and deployments, allowing them to offer more services to their dealer customers.

"By utilizing Self Service Integration, Self Service Deployment and the Oxlo Partner Portal, DSPs no longer need to wait for feedback from the automaker or other integration partner while progressing through the integration development," said Dan Seats, chief operating officer, Oxlo. "Simplifying and accelerating the integration process will make dealer deployments faster and easier for DSPs. More importantly it will free up time for application development so that service providers can offer more value to their customers."

Source : http://www.automotive.com (8/14/2006)

NAVTEQ(R) Electronic Horizon Technology Supports Dynamic Pass Predictor
CHICAGO, PRNewswire-FirstCall/ -- NAVTEQ , a leading global provider of digital map data for vehicle navigation and location-based solutions, announced that its Electronic Horizon provides the foundation of the Dynamic Pass Predictor from the BMW group; a technology innovation that can assist drivers in better understanding their opportunity to pass the vehicle in front of them. NAVTEQ's patented electronic horizon technology enables the attributes in the NAVTEQ digital map to be used to assist the vehicle in understanding the road ahead.

Dynamic Pass Predictor automatically calculates when it is not appropriate to pass the lead vehicle. This functionality combines NAVTEQ road geometry data, knowledge about the speed the vehicle is traveling, and sensor generated speed information about the lead vehicle. Utilizing this information, the navigation system screen visually highlights the road sections which require the driver's increased attention, enabling the driver to assess whether or not it is advisable to pass the lead vehicle. For example a sharp curve, a junction, or an upcoming speed limit change is highlighted on the map display along with the positional display of the lead vehicle. This information supports the driver's understanding on whether or not there is a clear enough view of the road ahead to make a favorable passing decision. The navigation system does not make a pass recommendation as it is not able to include the oncoming traffic in its calculations. The software for this solution has been developed by NAVTEQ and the BMW group.

"With this technology, map data moves beyond navigation to more sophisticated driver alerts that enhance user awareness of the road and the vehicles around them," stated Bruno Bourguet, NAVTEQ Vice President and GM In-Vehicle Sales Europe. "Working with a premier automotive organization who shares a similar innovation vision supports NAVTEQ's desire to further advanced driving assistance systems technologies in cars of the future."

Source : http://www.automotive.com (8/14/2006)

ASUS Introduces the ASUS-Lamborghini VX1 Notebook at the 2006 Concorso Italiano
FREMONT, Calif., PRNewswire/ -- ASUS Computer International, a leading provider of high quality notebooks worldwide, will announce the availability of the ASUS-Lamborghini VX1 notebook in the US at the 2006 Concorso Italiano "Celebration of Italian Style," on August 18th. ASUS CEO, Ivan Ho, and Lamborghini CEO and President, Stephan Winkelmann, will unveil the ASUS-Lamborghini VX1 during a press announcement at 10:00 AM at the Automobili Lamborghini tent. ASUS will showcase the notebook at both the ASUS and Lamborghini tents and will have a drawing open to the public for a new ASUS-Lamborghini VX1 notebook.

The result of a comprehensive partnership between ASUS, Automobili Lamborghini, and Intel(R), the notebook will be the first in a series of officially licensed products. The ASUS-Lamborghini VX1 successfully captures the spirit of the cars whose name it bears with esign details and special mirror painting finish suggestive of Lamborghini's fine automobiles. The product was designed from the beginning to be, like its Lamborghini namesake, in a category by itself. "The ASUS-Lamborghini VX1 backs up its Lamborghini- inspired design with top performance, unbeatable features, and rock-solid ASUS quality. It is a stunning notebook worthy of the Lamborghini name," says Stephan Winkelmann, CEO and President of Automobili Lamborghini (and current owner of an ASUS-Lamborghini VX1).

The ASUS-Lamborghini VX1 offers the following advantages:

Speed -- Exclusive NVIDIA GeForceGo 7400VX Special Edition Dedicated Graphics Engine

The NVIDIA GeForceGo 7400VX Special Edition dedicated graphics engine is designed exclusively for the VX1 notebook series.Users will enjoy movies and play games with unparalleled 3D image performance on its brilliant 1400 x 1050 Color Shine screen.

Power - Intel Centrino Duo Mobile Technology

The ASUS-Lamborghini VX1 is based on the latest Intel(R) Core(R) Duo processor T2500 2.0GHz. The dual-core capability of the ASUS-Lamborghini VX1 optimizes multitasking and provides processing performance that exceeds desktop level.Core(R) Duo processors are super-efficient and use less power, extending battery life by up to 25%.A hefty 2GB of

DDRII 677 memory makes applications fly.

Mobility - Slim and Lightweight Design Just as streamlined Lamborghinis are designed from the ground up for maximum acceleration with supreme aerodynamics, the VX1 is designed for superior mobility with a light, compact design. This 15" notebook weighs ess than most 14" notebooks.

Pleasure - The Pride of Knowing You Have the Best The ASUS-Lamborghini VX1's exquisite style and unsurpassed performance make any task a pleasure.The pride and excitement of ownership lingers long after the machine powers down.

The ASUS-Lamborghini VX1 will be offered at $2,799 MSRP. Visit usa.asus.com for more details on the ASUS-Lamborghini VX1 and other high quality ASUS notebooks.

Source : http://www.automotive.com (8/14/2006)

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