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TRANSPORTATION
Survey: auto execs less confident
Some 30% of the 100 polled by KPMG expect lean times until '05 or later. In last year's poll, 60% saw better profits in '03 or '04. Slightly more than half see U.S. automakers losing market share over the next five years. Just under half expect more sales incentives over the next five years vs. 63% last year.
Chrysler sees lower Q1 production
Like Ford, the DaimlerChrysler unit will cut North American output from Q1 '02 levels of 662,000 due to higher inventories and forecasts of a weak start to '03 sales. Chrysler didn't give figures. Of the Big Three, only GM plans to boost Q1 production. Ford expects North American output to fall 5% to 1 mil.
** DaimlerChrysler said it formed a joint venture with South Korea's Hyundai and Japan's Mitsubishi to operate a new engine plant in the U.S. Daimler, which controls Mitsubishi and has a stake in Hyundai, has said do more joint ops.
Fiat bidder tries to woo creditors