Platinum today: News/Automotive

15th July 2008: Nissan unveils fuel cell 4x4

Nissan has unveiled a green 4x4 powered by hydrogen fuel cells enabling the vehicle to travel emission free.

Emitting only a few drops of water for every 300 miles travelled, the new car was unveiled at Imperial College London today (Tuesday).

The new version of the Nissan X-Trail is the result of an advanced fuel cell development programme that has been running since 1996.

According to reports from the Evening Standard, there is still a great deal of development needed to make the car ready for sale.

Reductions in cost and breakthroughs over hydrogen storage are both needed before the vehicle comes to the market some time after 2015.

Significant strides in the efficiency of the fuel cell have already been made and the new model is 40 per cent more efficient than previous vehicles.

A spokesperson for Nissan said: "The cost of the system is still too high for mass production."

The car also benefits from minimal noise levels due to hydrogen being fed through the fuel cell to produce the electric power.

Source:

Car firm unveils green 4x4 with a unique celling point, 15/07/08
http://www.thisislondon.co.uk/standard/article-23516365-details/Car+firm+unveils+green+4x4+with+a+unique+celling+point/article.do

11th July 2008: Automobile Roundup July 2008

General Motors has revealed that industrial action will cost the firm about £1 billion in the three months to June. Strikes at some of its factories have dented production, particularly of sport utility vehicles (SUVs) and pickups. GM expects that much of the lost production would not be recovered because of the credit crunch conditions in the US. Falling demand for SUVs has seen the company's share price drop by about five per cent.

Nissan is expanding another factory in China in an attempt to increase its recent growth. It will join up with Dongfeng Motor Group to construct a plant in the Henan province that will be ready by 2010. Costing $145million, the factory will be able to produce about 120,000 vans and goods vehicles. The brand will also release ten new models to target annual production of one million by 2012.

The Le Mans 24-hour race, which took place in June, was dominated by the speculation surrounding diesel hybrid models. Audi took the chequered flag ahead of Peugeot. Hybrids have become increasingly popular in recent months after rising fuel prices have created problems. Development is expected to continue in the form of diesel-electric hybrid cars.

Mercedes-Benz is set to join the market for fuel cell vehicles. The German automaker confirmed that it is producing a new version of its B-Class model. Expected in 2010, the new model will be based on a fuel cell system which is also planned for the popular C-Class range, as well as the E-Class models. Mercedes-Benz said the fuel cell stack is almost at full power within about 20 seconds.

The firm is also attempting to reduce the platinum catalyst loading of the fuel cell to that of the platinum used in a conventional exhaust catalyst. Mercedes-Benz will also be able to recycle 99 per cent of the platinum used in its models.

Meanwhile, Chrysler has announced plans to cut the production of its minivans in the US. Rising fuel costs have led consumers to adopt smaller vehicles and the company has announced plans to close a plant in St Louis. It will also axe a shift at another plant, a move that will affect 2,400 jobs. Jim Press, President of Chrysler, said that the market is becoming slow and consumer confidence is down.

But it is not only US car sales that will be affected. Sales in the UK have been hit by the rising cost of living. The latest figures from the Society of Motor Manufacturers and Traders (SMMT) claimed that UK new car sales had dropped by 6.1 per cent during June. Car sales in the year to the end of June had dropped by 1.6 per cent on last year.

However, diesel cars appeared to buck the trend. Boasting better emissions ratings and fuel consumption figures, buyers were attracted to the models as rising fuel prices made petrol vehicles more expensive. Registration of new diesel models increased by 4.5 per cent and the market share of diesels is now over 40 per cent.

Peugeot has revealed that demand for new models in Western Europe had dropped by 3.5 per cent with an overall 4.0 per cent fall in sales likely by the end of the 2008.

The California Clean Air Technology Forum saw federal, state and local agencies team up in an attempt to develop cleaner emissions technologies. A memorandum of agreement was signed to commit to the development and testing of new technologies that will accelerate the progress in reducing emissions and improving air quality.

2nd July 2008: Pickups and SUVs suffer as auto sales plunge

Auto sales plunged in June as American buyers moved away from pickups and SUVs in the face of rising fuel prices.

GM has already reported that its US sales dropped by 18 per cent in June compared to last year, with sales of light trucks falling by 16 per cent.

In addition, Toyota reported a 21 per cent drop in US sales in June, which represented the biggest decline in US sales in the last ten years.

Sales of its compact models, such as the Corolla, jumped by 15.6 per cent, adding further weight to suggestions that consumers are favouring smaller, more efficient cars.

Ford also posted a 28 per cent decline in sales with demand for its SUVs dropping by more than half for pickups as other trucks fell by over a third, CNN reports.

Bob Schnorbus of JD Power & Associates, said the shift in demand was at a bad time for the industry because automakers were not able to increase production quickly.

"Anywhere you want to look, credit conditions, the job market, stock market, you can see the consumers are getting hammered," Mr Schnorbus said.

Source:

CNN

1st July 2008: Shares in GM drop to 54-year low

Shares in automaker GM have fallen to a 54-year low as investors become increasingly concerned by falling sales and high levels of debt.

GM shares have dropped as low as $11.12 on Monday, which is the lowest they have reached since 1954, the BBC reports.

The value of the shares have dropped by 35 per cent in the last month and total sales dropped by 30 per cent in May.

May's disappointing sales results were preceded by a 22 per cent drop in April but strong sales outside the US ensured global sales only fell by one per cent.

Part of the problem is due to the changing attitudes of consumers.

Fuel-efficient vehicles are becoming increasingly popular and with rising fuel prices hitting consumers' wallets, GM has already admitted it is being hit by a change in focus.

The firm has pledged to produce smaller, more fuel-efficient cars and is subsequently reviewing the future of its Hummer sports utility vehicle.

Source:

GM shares skid to 54-year nadir, 1/07/08
http://news.bbc.co.uk/1/hi/business/7483010.stm

23rd June 2008: Ford to cut production of trucks and SUVs

Ford will cut its production of large trucks and sports utility vehicles (SUVs), to produce more fuel-efficient models.

The move comes as a result of the economic crisis in the US that has slowed sales and increased fuel prices.

It has also deterred consumers from buying bigger vehicles and Ford has already predicted that it will make a loss this year and it expects it to be tough to break even in 2009.

Alan Mulally, President and Chief Executive of the firm, said that demand for the large trucks and SUVs were at "the lowest levels in decades".

In addition, the firm has also delayed the launch of its latest truck - the F-150 pick-up - because of the economic crisis.

It will now go on sale in the autumn of next year.

In the meantime, the firm is set to focus on a move to lower-emissions vehicles that are becoming more popular.

"We view the move to smaller, more fuel-efficient vehicles as permanent, and we are responding to customer demand," Mr Mulally explained.

Source:

Ford 'to make fewer big vehicles', 20/6/08

http://news.bbc.co.uk/1/hi/business/7466824.stm