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Honda Chief on Sales Goals (11/12/12)

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Mon, 12 Nov 2012|

Honda N.A. sales goals 'not just a dream' | Chrysler engine investments | Storm ruins 800 Fords

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Automatically Generated Transcript (may not be 100% accurate)

Welcome back on this Monday I'm Jennifer -- Turn a dream into reality we from -- president not -- Ito later on. But first in the studio with your headlines. Are -- -- and. Thanks Jennifer. Chrysler group is revving up its investment engine the auto maker planned the forty million dollar expansion of it's Trenton engine plant in suburban Detroit. The plan to build new 3.2 liter V6 engines and expand production of other B six and four cylinder engines. Separately Chrysler to schedule an announcement Thursday at another. In July of the auto maker said it was considering investing nearly 200 million dollars -- Mac one to boost production of the B six -- -- star engine. A move that could create 250. Additional jobs. Ally financial is nearing a deal to sell its auto financing operations in Europe and Latin America for around four billion dollars. And sources are telling Reuters that General Motors is emerging as -- likely lead better if the operations are sold as a whole. However those sources also say allies considering splitting the business and selling the European and Latin American operations to two different parties. Once known as GM AC ally is a former auto lending arm of GM which has been rebuilding its finance operations. Both companies are partly owned by the US government. In August GM disclosed that it was among the bidders for allies international operations. About 804 vehicles mainly at dealerships will need to be scrapped because of damage from super storm sandy. That according to chief sales analyst -- Merkel so far auto makers have reported nearly 171000. New vehicles damaged by -- Most of which will be scrapped. And sales by Japanese carmakers continue to suffer last month in China. The Wall Street Journal says Japanese car companies such sharply lower numbers for the second consecutive month. And results of a territorial dispute between two countries. The China association of automobile manufacturers says sales of Japanese cars dropped to just under 99000. Vehicles. It was the first time the journal says that sales of Japanese brands have fallen below 100000. Units since 2009. Now two billion -- president -- -- Ito says. That's about how many vehicles the company plans to sell in the North American market into 116. That's a boost of 18%. From this year the target. Employee who is not Sosa's name for the future whether we believe we give me this. Speaking through an interpreter. Ito says the redesigned sub compact fit -- back will be the surgeons say health. He constantly building didn't turn to -- and that it moving into its fifth. And it's variations. And then go to the supply there. North America and Mexico and a firm. Will definitely help you -- you got 6000 increase -- that expectation. Ito expects -- North American sales of -- fit into its new variants. To reach 200 without seeing in the next four years compare that with about 64 thousand last year. -- stricter mileage rules and her why gasoline prices. Ito says US consumers will naturally shift ports smaller cars. He also says this current high volume products including that civic and accord. Will of course 88 in breaching the lofty goal. Our Asia editor on -- recently spoke with Ito at world headquarters in Tokyo. For more check today's issue of Automotive News. Finally if first shift footnote. Ferrari is auctioning off the first after twelve -- and not -- to be sold in the US on Saturday. The proceeds. Going to the Red Cross to benefit super storms in relief efforts. A REX. In the car to fetch more than its base price of around 3161000. Dollars. That is their show thanks so much for joining us have a great day.

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