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	<pubDate>Thu, 27 Nov 2008 15:00:06 +0000</pubDate>
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		<title>GM Reports Third Quarter Financial Results</title>
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		<pubDate>Thu, 27 Nov 2008 15:00:06 +0000</pubDate>
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		<category><![CDATA[Car Leasing]]></category>

		<category><![CDATA[General Motors]]></category>

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		<category><![CDATA[gm Financial Results]]></category>

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		<description><![CDATA[General Motors (NYSE: GM) today announced its financial results for the third quarter of 2008, reflecting rapidly deteriorating market conditions in the U.S., slowdowns in other mature markets around the world, and continued losses at GMAC Financial Services (GMAC).
During the third quarter the turmoil in the global credit markets resulted in the worst financial crisis [...]]]></description>
			<content:encoded><![CDATA[<p>General Motors (NYSE: GM) today announced its financial results for the third quarter of 2008, reflecting rapidly deteriorating market conditions in the U.S., slowdowns in other mature markets around the world, and continued losses at GMAC Financial Services (GMAC).</p>
<p>During the third quarter the turmoil in the global credit markets resulted in the worst financial crisis in more than 70 years. The upheaval has had a dramatic impact on the auto business in particular, especially in the U.S. and Western Europe.</p>
<p>Tight credit, rising unemployment, declining income, falling stock markets, and continuing deterioration in the housing market in the U.S., resulted in an abrupt halt in consumer spending, with most consumers exiting the vehicle market. Many of those still intending to purchase vehicles were denied financing, or found the cost of financing prohibitive.</p>
<p>“The third quarter was especially challenging for the auto industry. Consumer spending, which represents close to 70 percent of the U.S. economy, fell dramatically, and the abrupt closure of credit markets created a downward spiral in vehicle sales,” said Rick Wagoner, Chairman and Chief Executive Officer. “The U.S. government’s actions to help stabilize the credit markets and eventually ease the credit crunch are an essential first step to the economy’s and the auto industry’s recovery, but further strong action is required.”</p>
<p>GM reported a net loss of $2.5 billion or $4.45 per share for the third quarter, including special items. That compares with a net loss from continuing operations of $42.5 billion or $75.12 per share in the third quarter of 2007, which included a non-cash charge of $38.3 billion to establish a valuation allowance against some of the company’s net deferred tax assets.</p>
<p>On an adjusted basis, GM posted a net loss of $4.2 billion or $7.35 per share, compared with a net loss from continuing operations of $1.6 billion or $2.86 per share in the same period last year.</p>
<p>Revenue for the third quarter was $37.9 billion, down from $43.7 billion in the year-ago quarter, reflecting dramatic sales declines across the industry driven by unstable market conditions, instability in the credit markets and dramatic retraction in consumer demand, especially in North America and Europe.</p>
<p>GM recorded net favorable charges of $1.7 billion for special items in the third quarter. Included in the charges was a curtailment gain of $4.9 billion resulting from the UAW Settlement Agreement becoming effective. The curtailment represents the accelerated recognition of net prior service credits, largely relating to the 2005 GM UAW healthcare agreement, scheduled for amortization after January 1, 2010.</p>
<p>The curtailment was recorded because GM&#8217;s UAW retiree health plan will not exist after January 1, 2010, and therefore no further basis for deferring unamortized prior service credits exists beyond that date. The $4.9 billion curtailment gain was partially offset by a non-cash $1.7 billion settlement charge related to the elimination of post-65 salaried retiree healthcare coverage, including the cost of increased pension benefits that were announced in July as part of GM’s operating actions to improve liquidity as well as the recognition of accumulated deferred losses related to the healthcare plan.</p>
<p>In addition, GM reported charges of $652 million relating to its commitments as part of Delphi’s bankruptcy proceedings, $251 million for impairment of investments in GMAC, and $641 million in restructuring-related and other charges. Details on these and all other special items are in the financial highlights section of this release.</p>
<p>GM Automotive Operations</p>
<p>GM reports its automotive operations and regional results on an earnings-before-tax basis, with taxes reported on a total corporate basis.</p>
<p>GM recorded an adjusted automotive loss of $2.8 billion ($947 million reported loss) in the third quarter 2008. The loss compares with adjusted automotive earnings from continuing operations of $98 million in the third quarter of 2007 (reported net loss of $1.6 billion).</p>
<p>The results reflect losses in GM North America (GMNA) driven largely by the U.S. industry volume decline of nearly 20 percent, and shifts in product mix. In addition, Europe saw rapid auto market contraction, leading to sharply lower GM Europe (GME) sales volume in the third quarter. GM Asia Pacific (GMAP) results were down due to commodity hedging charges and moderating demand in key markets including China, Australia and India. These losses were partially offset by very strong results in the GM Latin America, Africa and Middle East (GMLAAM) region.</p>
<p>GM’s automotive results in the third quarter include $1.5 billion of expenses related to mark-to-market changes in the value of GM’s commodity and foreign exchange hedging contracts, due almost entirely to falling commodity prices.</p>
<p>GM sold 2.1 million vehicles worldwide in the third quarter, down 11 percent year over year. Sales in GMNA were down 19 percent compared to third quarter 2007. GM global market share was 13 percent, down 0.7 percentage points compared with the third quarter of 2007, due largely to weakness in North America and Western Europe.</p>
<p class="style3" align="center"><strong>GMNA </strong></p>
<table border="1" cellspacing="0" cellpadding="2" align="center">
<tbody>
<tr>
<td class="style3" width="313" valign="top">
<p align="center"> </p>
</td>
<td class="style3" colspan="3" width="282" valign="top">
<p align="center"><strong>Third Quarter </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="313" valign="top"> </td>
<td class="style3" width="90" valign="top">
<p align="right"><strong>2008 </strong></p>
</td>
<td class="style3" width="84" valign="top">
<p align="right"><strong>2007 </strong></p>
</td>
<td class="style3" width="108" valign="top">
<p align="right"><strong>‘08 O/(U) ‘07 </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="313" valign="top">Revenue (bils.)</td>
<td class="style3" width="90" valign="top">
<p align="right">$22.5</p>
</td>
<td class="style3" width="84" valign="top">
<p align="right">$26.6</p>
</td>
<td class="style3" width="108" valign="top">
<p align="right">$(4.1)</p>
</td>
</tr>
<tr>
<td class="style3" width="313" valign="top">Adjusted Earnings Before Tax</td>
<td class="style3" width="90" valign="top">
<p align="right">$(2.3) bil.</p>
</td>
<td class="style3" width="84" valign="top">
<p align="right">$(298) mil.</p>
</td>
<td class="style3" width="108" valign="top">
<p align="right">$(2.0) bil.</p>
</td>
</tr>
<tr>
<td class="style3" width="313" valign="top">Reported Earnings Before Tax</td>
<td class="style3" width="90" valign="top">
<p align="right">$(395) mil.</p>
</td>
<td class="style3" width="84" valign="top">
<p align="right">$(1.8) bil.</p>
</td>
<td class="style3" width="108" valign="top">
<p align="right">$1.4 bil.</p>
</td>
</tr>
<tr>
<td class="style3" width="313" valign="top">GM Market Share</td>
<td class="style3" width="90" valign="top">
<p align="right">23.4%</p>
</td>
<td class="style3" width="84" valign="top">
<p align="right">24.4%</p>
</td>
<td class="style3" width="108" valign="top">
<p align="right">(1.0) p.p.</p>
</td>
</tr>
</tbody>
</table>
<p>GMNA revenue and earnings in the third quarter reflect dramatic industry deterioration and a sharp fall in consumer spending driven by the weak U.S. economy and a very harsh credit environment. Earnings were impacted by lower volumes, rapid shifts among U.S. consumers away from trucks and SUVs toward smaller cars, and unfavorable mark-to-market adjustments on commodity hedging.</p>
<p class="style3" align="center"><strong>GME</strong></p>
<table border="1" cellspacing="0" cellpadding="2" align="center">
<tbody>
<tr>
<td class="style3" width="310" valign="top">
<p align="center"><strong> </strong></p>
</td>
<td class="style3" colspan="3" width="279" valign="top">
<p align="center"><strong>Third Quarter </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="310" valign="top"> </td>
<td class="style3" width="90" valign="top">
<p align="right"><strong>2008 </strong></p>
</td>
<td class="style3" width="87" valign="top">
<p align="right"><strong>2007 </strong></p>
</td>
<td class="style3" width="103" valign="top">
<p align="right"><strong>’08 O/(U) ‘07 </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="310" valign="top">Revenue (bils.)</td>
<td class="style3" width="90" valign="top">
<p align="right">$7.5</p>
</td>
<td class="style3" width="87" valign="top">
<p align="right">$8.8</p>
</td>
<td class="style3" width="103" valign="top">
<p align="right">$(1.3)</p>
</td>
</tr>
<tr>
<td class="style3" width="310" valign="top">Adjusted Earnings Before Tax (mils.)</td>
<td class="style3" width="90" valign="top">
<p align="right">$(974)</p>
</td>
<td class="style3" width="87" valign="top">
<p align="right">$(136)</p>
</td>
<td class="style3" width="103" valign="top">
<p align="right">$(838)</p>
</td>
</tr>
<tr>
<td class="style3" width="310" valign="top">Reported Earnings Before Tax</td>
<td class="style3" width="90" valign="top">
<p align="right">$(1.0) bil.</p>
</td>
<td class="style3" width="87" valign="top">
<p align="right">$(398) mil.</p>
</td>
<td class="style3" width="103" valign="top">
<p align="right">$(602) mil.</p>
</td>
</tr>
<tr>
<td class="style3" width="310" valign="top">GM Market Share</td>
<td class="style3" width="90" valign="top">
<p align="right">8.9%</p>
</td>
<td class="style3" width="87" valign="top">
<p align="right">9.5%</p>
</td>
<td class="style3" width="103" valign="top">
<p align="right">(0.6) p.p</p>
</td>
</tr>
</tbody>
</table>
<p class="style3">GME revenue was down 15 percent in the third quarter amid industry-wide volume declines ranging from 10 to 35 percent in certain major markets including the U.K., Spain and Italy. Overall GME sales volume was down 12.3 percent year over year, while up 10 percent in Eastern Europe. Earnings were largely impacted by the lower volumes, and unfavorable mix and negative pricing. In addition, unfavorable foreign exchange relating to the weakening of the British pound and the mark-to-market of commodity hedges negatively impacted earnings. Results were partially offset by favorable structural cost performance.</p>
<p class="style3" align="center"><strong>GMAP </strong></p>
<p class="style3">
<table border="1" cellspacing="0" cellpadding="2" align="center">
<tbody>
<tr>
<td class="style3" width="342" valign="top">
<p align="center"> </p>
</td>
<td class="style3" colspan="3" width="244" valign="top">
<p align="center"><strong>Third Quarter </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="342" valign="top"> </td>
<td class="style3" width="72" valign="top">
<p align="right"><strong>2008 </strong></p>
</td>
<td class="style3" width="73" valign="top">
<p align="right"><strong>2007 </strong></p>
</td>
<td class="style3" width="99" valign="top">
<p align="right"><strong>‘08 O/(U) ‘07 </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="342" valign="top">Revenue (bils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$4.8</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$5.3</p>
</td>
<td class="style3" width="99" valign="top">
<p align="right">$(.5)</p>
</td>
</tr>
<tr>
<td class="style3" width="342" valign="top">Adjusted Earnings Before Tax (mils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$(6)</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$186</p>
</td>
<td class="style3" width="99" valign="top">
<p align="right">$(192)</p>
</td>
</tr>
<tr>
<td class="style3" width="342" valign="top">Reported Earnings Before Tax (mils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$(6)</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$186</p>
</td>
<td class="style3" width="99" valign="top">
<p align="right">$(192)</p>
</td>
</tr>
<tr>
<td class="style3" width="342" valign="top">GM Market Share</td>
<td class="style3" width="72" valign="top">
<p align="right">6.9%</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">6.5%</p>
</td>
<td class="style3" width="99" valign="top">
<p align="right">0.4 p.p.</p>
</td>
</tr>
</tbody>
</table>
<p> </p>
<p class="style3">Results in GMAP were impacted primarily by unfavorable mix and negative pricing. In addition, GMAP results were impacted by unfavorable hedging, which was largely offset by the favorable foreign exchange impact of exports.</p>
<p class="style3">Industry sales for the region were down by 134,000 units or 2.7 percent in the third quarter. Despite the slowdown, GM reported a 2.6 percent increase in sales volume, and modest gain in market share. Markets in the GMAP region are expected to remain soft through the fourth quarter, with further slow downs anticipated in Australia, China, South Korea and India as the contagion of the faltering U.S. economy and tightening credit conditions expand to other regions around the world.</p>
<p class="style3" align="center"><strong>GMLAAM </strong></p>
<p class="style3">
<table border="1" cellspacing="0" cellpadding="2" align="center">
<tbody>
<tr>
<td class="style3" width="333" valign="top">
<p align="center"> </p>
</td>
<td class="style3" colspan="3" width="249" valign="top">
<p align="center"><strong>Third Quarter </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="333" valign="top"> </td>
<td class="style3" width="72" valign="top">
<p align="right"><strong>2008 </strong></p>
</td>
<td class="style3" width="73" valign="top">
<p align="right"><strong>2007 </strong></p>
</td>
<td class="style3" width="104" valign="top">
<p align="right"><strong>‘08 O/(U) ‘07 </strong></p>
</td>
</tr>
<tr>
<td class="style3" width="333" valign="top">Revenue (bils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$5.7</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$4.9</p>
</td>
<td class="style3" width="104" valign="top">
<p align="right">$0.8</p>
</td>
</tr>
<tr>
<td class="style3" width="333" valign="top">Adjusted Earnings Before Tax (mils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$514</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$374</p>
</td>
<td class="style3" width="104" valign="top">
<p align="right">$140</p>
</td>
</tr>
<tr>
<td class="style3" width="333" valign="top">Reported Earnings Before Tax (mils.)</td>
<td class="style3" width="72" valign="top">
<p align="right">$514</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">$374</p>
</td>
<td class="style3" width="104" valign="top">
<p align="right">$140</p>
</td>
</tr>
<tr>
<td class="style3" width="333" valign="top">GM Market Share</td>
<td class="style3" width="72" valign="top">
<p align="right">17.0%</p>
</td>
<td class="style3" width="73" valign="top">
<p align="right">17.4%</p>
</td>
<td class="style3" width="104" valign="top">
<p align="right">(.4) p.p.</p>
</td>
</tr>
</tbody>
</table>
<p class="style3">GMLAAM saw double-digit revenue growth, up 15 percent, and earnings, up 37 percent, in the third quarter, fueled by strong demand for Chevrolet and Cadillac products. GMLAAM sales volume was up more than 3 percent compared to the same period last year. Sales were especially strong in key South America markets, including Brazil, Chile, Ecuador and Peru, each setting all-time GM quarterly sales records. The region is on track for another year of record sales, although the effects of the global economic slowdown on credit availability and consumer behavior are likely to result in some moderation of demand in the fourth quarter.</p>
<p class="style3">GMAC</p>
<p class="style3">On a standalone basis, GMAC reported a net loss of $2.5 billion for the third quarter 2008, down $900 million from the year-ago quarter. GM reported an adjusted loss of $1.2 billion for the quarter attributable to GMAC, as a result of its 49 percent equity interest.</p>
<p class="style3">GMAC’s automotive finance operation experienced pressure from lower used vehicle prices and weaker consumer and dealer credit performance. GMAC’s ResCap operations reported further losses as a result of adverse market conditions, which drove high credit-related provisions and weak revenue. GMAC’s Insurance business remained profitable.</p>
<p class="style3">Cash and Liquidity</p>
<p class="style3">Cash, marketable securities, and readily-available assets of the Voluntary Employees’ Beneficiary Association (VEBA) trust totaled $16.2 billion on September 30, 2008, down from $21.0 billion on June 30, 2008.</p>
<p class="style3">The change in liquidity reflects negative adjusted operating cash flow of $6.9 billion in the third quarter 2008, driven by the industry-wide slowdown in vehicle demand and compounding credit crisis, especially in North America and Europe. During the quarter, GM drew the remaining $3.5 billion of its secured revolving credit facility and made $1.2 billion in payments to Delphi as required by agreements between the companies as part of Delphi’s bankruptcy proceedings.</p>
<p class="style3">GM expects adjusted operating cash flow in the fourth quarter to be much improved versus the third quarter, and more consistent with the first half of the year. Improvements in fourth quarter cash flow are largely driven by anticipated improvements in working capital in North America relating to sales allowances, and lower fourth quarter finished vehicle inventory in Europe.</p>
<p class="style3">Improving its liquidity position remains a top priority for the company. In response to deteriorating market conditions, GM announced today that in addition to the $15 billion in liquidity initiatives it outlined in July 2008, it has identified $5 billion of incremental liquidity actions. Cumulatively, GM has announced actions aimed at improving liquidity by $20 billion through 2009. To date, $10 billion in internal operating actions have either already been completed or are on track for full execution by the end of 2009.</p>
<p class="style3">Even if GM implements the planned operating actions that are substantially within its control, GM&#8217;s estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business.  Looking into the first two quarters of 2009, even with its planned actions, the company&#8217;s estimated liquidity will fall significantly short of that amount unless economic and automotive industry conditions significantly improve, it receives substantial proceeds from asset sales, takes more aggressive working capital initiatives, gains access to capital markets and other private sources of funding, receives government funding under one or more current or future programs, or some combination of the foregoing.  The success of GM&#8217;s plans necessarily depends on other factors, including global economic conditions and the level of automotive sales, particularly in the United States and Western Europe.  </p>
<p class="style3">Further detail on the additional liquidity actions and GM’s current liquidity position and outlook will be disclosed in a Form 8-K filing with the Securities and Exchange (SEC) later today.</p>
<p class="style3">Forward Looking Statements<br />
In these and following presentations and in related comments by General Motors management, we will use words like &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;objective,&#8221; &#8220;plan,&#8221; &#8220;goal,&#8221; &#8220;project,&#8221; &#8220;outlook,&#8221; &#8220;targets,&#8221; and similar expressions to identify forward looking statements that represent our current judgments about possible future events. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors.</p>
<p class="style3">Among other items, such factors include: our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; continued economic instability or poor economic conditions in the U.S. and global markets, including the credit markets, or changes in economic conditions, commodity prices, housing prices, currency exchange rates or political stability in the markets in which we operate; our ability to realize production efficiencies, to reduce costs and implement capital expenditures at levels and times planned by management; market acceptance of our products including cars and crossovers; shortages of and price increases for fuel; the ability of our customers, dealers, distributors and suppliers to obtain adequate financing on acceptable terms to continue their business relationships with us; significant changes in the competitive environment, including as a result of industry consolidation, and the effect of competition on our markets, including on our pricing policies or use of incentives; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations where such actions may affect the production, licensing, distribution or sale of our products, the cost thereof or applicable tax rates; the effectiveness of recent or future actions by the U.S. federal government, including the $25 billion loan program for automobile manufacturers and suppliers and recently enacted legislation relating to mortgage assets; costs and risks associated with litigation; the final results of investigations and inquiries by the SEC; changes in accounting principles, or their application or interpretation, and our ability to make estimates and the assumptions underlying the estimates, including the estimates for the Delphi pension benefit guarantees, which could result in an effect on earnings; negotiations and bankruptcy court actions with respect to obligations owed to us by Delphi Corporation, a key supplier and our obligations to Delphi; negotiations with respect to our obligations under the benefit guarantees to Delphi employees and our ability to recover any indemnity claims against Delphi; labor strikes or work stoppages at our facilities or our key suppliers such as Delphi or financial difficulties at our key suppliers such as Delphi; additional credit rating downgrades and the effects thereof; changes in relations with unions and employees/retirees and the legal interpretations of the agreements with those unions with regard to employees/retirees, including the negotiation of new collective bargaining agreements with unions representing our employees in the United States other than the UAW; possible downgrades for GMAC or ResCap by rating agencies; GMAC’s ability to maintain adequate financing sources; developments in the residential mortgage market, especially the nonprime sector; and changes in the competitive markets in which GMAC operates, including increased competition in the automotive financing, mortgage and/or insurance markets or generally in the markets for securitizations or asset sales.</p>
<p class="style3">GM&#8217;s most recent annual report on Form 10-K and quarterly report on Form 10-Q provide information about these factors, which we may revise or supplement in future reports to the SEC on Form 10-Q or 8-K.</p>
<p class="style3"> </p>
]]></content:encoded>
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		</item>
		<item>
		<title>Ford Appeal Drives Up October Market Share</title>
		<link>http://www.hitcarsearch.co.uk/news/231469/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231469/#comments</comments>
		<pubDate>Thu, 27 Nov 2008 08:00:28 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Ford]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1469</guid>
		<description><![CDATA[Consumer demand for Ford&#8217;s exciting range of cars helped Ford register a 16.6 per cent share of October&#8217;s new car sales – an increase of over three percentage points compared with the same month last year.
While the UK&#8217;s overall appetite for new cars shrunk by 22 per cent in October, compared with last year, Ford [...]]]></description>
			<content:encoded><![CDATA[<p>Consumer demand for Ford&#8217;s exciting range of cars helped Ford register a 16.6 per cent share of October&#8217;s new car sales – an increase of over three percentage points compared with the same month last year.</p>
<p>While the UK&#8217;s overall appetite for new cars shrunk by 22 per cent in October, compared with last year, Ford outperformed the market by over 16 per cent to limit the negative impact on the blue oval brand to a 5.7 per cent dip in volumes.</p>
<p>Latest figures from the Society of Motor Manufacturers and Traders show that, of the 128,350 new cars sold last month, 21,300 were Ford models – with sales of the Fiesta,<br />
C-MAX and Mondeo actually exceeding those of a year ago.</p>
<p>The acclaimed all-new Ford Fiesta drove customer demand with its combination of price, style and fuel efficiency.  For every one of the 3,500 new Fiestas delivered in October, two more customer orders are in the pipeline.  Half of Fiesta buyers are choosing high series Zetec and Titanium models.</p>
<p>The Ford C-MAX multi-activity vehicle and Ford Mondeo grew year-on-year sales by 25 per cent and 13.7 per cent respectively.</p>
<p>Retail customers continue to be attracted to the Ford brand, which currently boasts its youngest ever model line-up.  Ford took 13.7 per cent of October&#8217;s retail new car sales – a year-on-year rise of four percentage points, and 1,845 more cars than the blue oval&#8217;s nearest rival.</p>
<p>Ford also led the fleet market, which was buoyed by the arrival of new Ford Galaxy and<br />
S-MAX variants emitting under 160g CO2/km.  With tax based on emissions, this latest frugal 2.0 TDCi diesel engine delivers savings of over £200 a year to the company car driver and a 20 per cent write-down allowance to his or her employer (instead of the ten per cent allowance on purchases of cars emitting over 160g).</p>
<p>Roelant de Waard, <a title="ford deals" href="http://www.hitcarsearch.co.uk/carleasing/Ford/">Ford</a> of Britain chairman and managing director, said:  &#8220;Our new Fiesta is already proving a big hit with private buyers, and we are selling every one we can get.  We are seeing something similar with business customers as we introduce our lower CO2 diesel engine into our larger cars, which is helping beat the worst of the current downturn – and we still have the all-new Ka to look forward to from January.&#8221;</p>
<p>Ford&#8217;s strong October performance in the face of another difficult month for the industry took the company&#8217;s year-to-date car market share up to 14.9 per cent (14.5 per cent at the same point in 2007).  Sales of Ford cars with CO2 emissions under 120g/km are up by 32 per cent so far this year.</p>
<p>Together with commercial vehicles, Ford&#8217;s share of the UK&#8217;s total vehicle market stands at 16.2 per cent, up 0.3 percentage points compared with the same month last year.</p>
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		<title>Ford&#8217;s &#8216;Kick It Out&#8217; Hat-Trick</title>
		<link>http://www.hitcarsearch.co.uk/news/231473/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231473/#comments</comments>
		<pubDate>Wed, 26 Nov 2008 15:00:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Ford]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1473</guid>
		<description><![CDATA[More that 110 youngsters joined soccer stars and celebrities for the third of Ford&#8217;s successful anti-racism &#8220;Kick It Out&#8221; events.
Around 10 schools from Barking and Dagenham, Havering and Newham, and London boroughs brought 11 to 14-year-old pupils to the football-related learning and games event at Dagenham&#8217;s Centre for Engineering and Manufacturing Excellence (CEME).  The director [...]]]></description>
			<content:encoded><![CDATA[<p>More that 110 youngsters joined soccer stars and celebrities for the third of <a title="ford leasing" href="http://www.hitcarsearch.co.uk/carleasing/Ford/">Ford</a>&#8217;s successful anti-racism &#8220;Kick It Out&#8221; events.</p>
<p>Around 10 schools from Barking and Dagenham, Havering and Newham, and London boroughs brought 11 to 14-year-old pupils to the football-related learning and games event at Dagenham&#8217;s Centre for Engineering and Manufacturing Excellence (CEME).  The director of Bend It like Beckham, Gurinder Chadha, film actor Winston Ellis, ex-England and Watford legend Luther Blissett as well as England physio Gary Lewin attended.</p>
<p>Professional Footballers Association executives, Paul Allen and Bobby Barnes, players from nearby Dagenham &amp; Redbridge Football Club and automotive journalist Kevin Haggarthy participated in a questions and answers session.</p>
<p>Bob Blenkinsop, Ford of Britain human resources director, said:  &#8220;Football is diverse and inclusive and is a great platform for our involvement.  Kick It Out&#8217;s &#8216;One game, One community&#8217; theme uses football as a way of promoting social inclusion and encouraging young people to value diversity.</p>
<p>&#8220;Given our links with football – as the only original UEFA Champions League sponsors and Thames Gateway Youth Football Project partners – this is a great opportunity for Ford to support neighbouring schools during Kick It Out&#8217;s week of action.&#8221;</p>
<p>Piara Powar, Kick It Out director, said:  &#8220;We are delighted to be working with Ford, and partners in the Dagenham area on an initiative that will have a lasting impact, and Ford is to be congratulated for an enlightened approach to issues that impact on its local communities.&#8221;</p>
<p>At the same event Brittons School &amp; Technology College in South Hornchurch won the chance for 11 students to be centre circle bearers of the UEFA banner at the Arsenal-Dynamo Kyiv game on November 25.</p>
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		<title>Ford Repeats Van Reliability Success</title>
		<link>http://www.hitcarsearch.co.uk/news/231471/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231471/#comments</comments>
		<pubDate>Wed, 26 Nov 2008 08:15:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Ford]]></category>

		<category><![CDATA[ford van]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1471</guid>
		<description><![CDATA[
Ford has repeated a trio of significant awards from leading trade magazine, Fleet News. The Ford Transit, promoted as &#8220;the backbone of Britain&#8221;, has come top of an industry reliability survey based on more than 150,000 commercial vehicles.  With an additional runner-up award for the Ford Transit Connect, Ford took the title as the Most [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignnone" title="FORD REPEATS VAN RELIABILITY SUCCESS" src="http://media.ford.com/images/large/eu_Great%20Britain/transitNewsMain.jpg" alt="" width="200" height="175" /></p>
<p><a title="ford deals" href="http://www.hitcarsearch.co.uk/carleasing/Ford/">Ford</a> has repeated a trio of significant awards from leading trade magazine, Fleet News. The Ford Transit, promoted as &#8220;the backbone of Britain&#8221;, has come top of an industry reliability survey based on more than 150,000 commercial vehicles.  With an additional runner-up award for the Ford Transit Connect, Ford took the title as the Most Reliable Manufacturer.</p>
<p>Steve Kimber, commercial vehicles director, Ford of Britain, said: &#8220;It is fantastic to see British businesses giving recognition to the vans that get the job done. Transit and its sibling, Connect, deliver a great ownership experience due to their low running costs, durability and reliability.&#8221;</p>
<p>The survey, conducted by Fleet News (the UK’s leading trade magazine for company car operators), is based on feedback from multitudes of fleet vehicles and is the largest survey of its kind in the world.</p>
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		<title>All-New Ford Fiesta Named Scottish Car Of The Year</title>
		<link>http://www.hitcarsearch.co.uk/news/231467/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231467/#comments</comments>
		<pubDate>Tue, 25 Nov 2008 15:00:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Ford]]></category>

		<category><![CDATA[Ford Fiesta]]></category>

		<category><![CDATA[Scottish Car of the Year 2008]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1467</guid>
		<description><![CDATA[
The all-new Ford Fiesta has been named &#8220;Scottish Car of the Year 2008&#8243; at the 11th annual Association of Scottish Motoring Writers (ASMW) awards dinner in St Andrew&#8217;s, Scotland.
A jury of 17 Scottish automotive journalists reviewed every new car available and, in an exhaustive selection process, short-listed eight category winners. At the ceremony, the all-new [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignnone" title="ALL-NEW FORD FIESTA NAMED SCOTTISH CAR OF THE YEAR" src="http://media.ford.com/images/large/eu_Great%20Britain/FIESTAscottishCarOfTheYear2008.jpg" alt="" width="200" height="150" /></p>
<p>The all-new <a title="Ford leasing deals" href="http://www.hitcarsearch.co.uk/carleasing/Ford/">Ford</a> Fiesta has been named &#8220;Scottish Car of the Year 2008&#8243; at the 11th annual Association of Scottish Motoring Writers (ASMW) awards dinner in St Andrew&#8217;s, Scotland.</p>
<p>A jury of 17 Scottish automotive journalists reviewed every new car available and, in an exhaustive selection process, short-listed eight category winners. At the ceremony, the all-new Fiesta was crowned with the prestigious award thanks to its qualities of style, dynamic driving and value for money.</p>
<p>This is the second successive year in a row that the ASMW has honoured Ford with the title of Scottish Car of the Year – in 2007 the award went to the Ford Mondeo. Also this year, recognition was given to the new Ford Kuga, which collected the category award for &#8220;best 4&#215;4 crossover&#8221; vehicle.</p>
<p>The awards were presented by President of the ASMW Bill Caven who commented: &#8220;To win the Scottish Car of the Year once is a marvellous achievement for any manufacturer. However to triumph again the following year is absolutely unbelievable.</p>
<p>&#8220;The all-new Ford Fiesta was simply streets ahead of everybody else when it came to offering something fresh, dynamic and value for money. Within hours of getting our first drive in the car we were all blown away by the experience.<br />
And when you consider the high calibre of the other new models up for consideration it is a truly tremendous feat by the Blue Oval.&#8221;</p>
<p>Bill added: &#8220;There is always a degree of trepidation amongst motor manufacturers when it comes to replacing a best-selling model with the next generation car. Will it live up to past reputation and appeal? Will it take the brand forward? Ford has maintained from the outset that the new Fiesta would set the benchmark in its sector. It has certainly delivered big time and been true to its word. This is going to be an enormous seller for them in the coming months, and deservedly so.&#8221;</p>
<p>On receiving the award, Ian Slater, Vice-President Communications and Public Affairs for Ford of Europe, said: &#8220;We are delighted the new Ford Fiesta has been voted the 2008 Scottish Car of the Year. I am especially pleased for the Fiesta project team of designers and engineers, that their vision and hard work has been so generously rewarded. Everyone at Ford joins me in thanking the Association of Scottish Motoring Writers for this accolade.&#8221;</p>
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		<title>NISSAN GT-R wins Car of the Year Japan&#8217;s Most Advanced Technology Award</title>
		<link>http://www.hitcarsearch.co.uk/news/231464/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231464/#comments</comments>
		<pubDate>Tue, 25 Nov 2008 08:00:06 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Car Leasing]]></category>

		<category><![CDATA[Car of the Year]]></category>

		<category><![CDATA[Most Advanced Technology]]></category>

		<category><![CDATA[nissan gtr]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1464</guid>
		<description><![CDATA[Nissan Motor Co., Ltd. is proud that the NISSAN GT-R supercar has won the Most Advanced Technology Award, one of the highly coveted awards of Car of the Year Japan 2008-2009.

The final selection, conducted by the Car of the Year Japan Executive Committee, took place from November 10 - 11 at Oiso, Kanagawa prefecture. In [...]]]></description>
			<content:encoded><![CDATA[<p>Nissan Motor Co., Ltd. is proud that the <a title="Nissan leasing" href="http://www.hitcarsearch.co.uk/carleasing/Nissan/">NISSAN</a> GT-R supercar has won the Most Advanced Technology Award, one of the highly coveted awards of Car of the Year Japan 2008-2009.</p>
<p><img class="alignnone" title="Nissan GT-R" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081112-01-01.jpg" alt="" width="350" height="187" /></p>
<p>The final selection, conducted by the Car of the Year Japan Executive Committee, took place from November 10 - 11 at Oiso, Kanagawa prefecture. In awarding winner, the jury cited the NISSAN GT-R &#8220;as a supercar that delivers powerful performance and clean emission, featuring an advanced new body structure combining carbon, aluminum and steel, in addition to its impressive dual-clutch transmission and the world&#8217;s first independent transaxle 4WD.&#8221;</p>
<p>NISSAN GT-R has been a global success since its launch on December 6, 2007 in Japan and July 7, 2008 in North America. The NISSAN GT-R will soon be arriving in Europe next spring.</p>
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		<title>Nissan&#8217;s &#8220;All-Around Collision Free&#8221; Prototype to Demonstrate Advanced Accident Avoidance Systems at ITS World Congress</title>
		<link>http://www.hitcarsearch.co.uk/news/231460/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231460/#comments</comments>
		<pubDate>Mon, 24 Nov 2008 15:00:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[nissan]]></category>

		<category><![CDATA[All-Around Collision Free]]></category>

		<category><![CDATA[ITS World Congress]]></category>

		<category><![CDATA[nissan protype vehicle]]></category>

		<category><![CDATA[Nissan Safety Shield]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1460</guid>
		<description><![CDATA[Nissan Motor Co., Ltd. today announced it will demonstrate its advanced &#8220;All-Around Collision Free&#8221; prototype vehicle - complete with two all-new accident avoidance technologies- at the 15th World Congress on Intelligent Transport Systems (ITS). The ITS World Congress, to be held at New York City&#8217;s Jacob K. Javits Center, from Nov. 16 - 20, showcases [...]]]></description>
			<content:encoded><![CDATA[<p>Nissan Motor Co., Ltd. today announced it will demonstrate its advanced &#8220;All-Around Collision Free&#8221; prototype vehicle - complete with two all-new accident avoidance technologies- at the 15th World Congress on Intelligent Transport Systems (ITS). The ITS World Congress, to be held at New York City&#8217;s Jacob K. Javits Center, from Nov. 16 - 20, showcases future vehicle-to-vehicle and vehicle-to-infrastructure communications systems.</p>
<p>This is the first time the &#8220;All-Around Collision Free&#8221; prototype will be displayed in the United States and the world&#8217;s first demonstration of Back-up Collision Prevention (BCP). The prototype also incorporates Side Collision Prevention (SCP) and two current production technologies, Distance Control Assist (DCA) and Lane Departure Prevention (LDP).</p>
<p><img class="alignnone" title="System Functions" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-02-01.jpg" alt="" width="600" height="301" /></p>
<p><img class="alignnone" title="System Configuration of Side Collision Prevention / Back-up Collision Prevention" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-02-02.jpg" alt="" width="600" height="214" /></p>
<p>The &#8220;All-Around Collision Free&#8221; prototype vehicle further extends<a title="Nissan deals" href="http://www.hitcarsearch.co.uk/carleasing/Nissan/"> Nissan&#8217;s </a>&#8220;Safety Shield&#8221; concept to help protect the vehicle and its occupants from potential risks coming from multiple directions. Following is a brief overview of the key systems:</p>
<p>Side Collision Prevention: As the vehicle begins to change lanes, side-mounted sensors activate a warning if another vehicle is detected in the intended lane. A yaw mechanism is then activated through brake control of individual wheels on the opposite side of the vehicle, to help prevent a potential collision by moving the vehicle toward the center of the original lane of travel.</p>
<p><img class="alignnone" title="Image of Side Collision Prevention Operation" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-02-03.jpg" alt="" width="570" height="109" /></p>
<p>Back-up Collision Prevention: During a backing maneuver, such as backing out of a parking space, rear and side-mounted sensors detect objects in the path of the vehicle. If an object is detected, an alarm sounds and then the brakes are activated to help avoid a collision.</p>
<p><img class="alignnone" title="Image of Back-up Collision Prevention Operation" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-02-04.jpg" alt="" width="350" height="252" /></p>
<p>Distance Control Assist and Lane Departure Prevention: Distance Control Assist (DCA) detects the distance to objects in front of the vehicle. When the vehicle is approaching an object, DCA will display a warning symbol, sound an alarm, and move the accelerator pedal up against the driver&#8217;s foot. If the throttle is not being applied, DCA will gently apply the brakes to help encourage deceleration.</p>
<p>Lane Departure Prevention (LDP) assists with maintaining lane position by detecting lane markers and calculating position relative to them. If the vehicle approaches the lane markers, a warning illuminates and an alarm sounds. If the vehicle continues to travel toward the lane markers, the system activates the yaw mechanism (described in SCP above) to help move the vehicle toward the center of the lane.</p>
<p>Both the DCA and LDP systems complement the SCP and BCP to move toward an &#8220;All-Around Collision Free&#8221; prototype. These warning systems and preventive safety features are designed to help support the driver in an intuitive manner with minimal intervention.</p>
<p>About Nissan Safety Shield<br />
As part of its commitment to continuously improve the safety of its vehicles, Nissan has developed and advanced many pre-crash and crash protection technologies. These innovations are part of Nissan&#8217;s &#8220;Safety Shield&#8221; concept: an advanced, proactive approach to safety issues based on the idea that advanced technology in vehicles helps protect people. This approach provides various measures to help the driver and passengers better avoid dangers in ways that are optimized to each of a wide range of circumstances that the vehicle may be in, from &#8220;risk has not yet appeared&#8221; to &#8220;post-crash&#8221;.</p>
<p>On a global level, Nissan is committed to building safe vehicles equipped with advanced safety technologies. In Japan, the company&#8217;s safety vision is to halve the number of traffic fatalities or serious injuries involving Nissan vehicles by 2015 compared with the level in 1995.</p>
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		<title>Nissan to Display Cooperative Intelligent Transport</title>
		<link>http://www.hitcarsearch.co.uk/news/231458/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231458/#comments</comments>
		<pubDate>Mon, 24 Nov 2008 08:00:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Car Leasing]]></category>

		<category><![CDATA[Cooperative ICC]]></category>

		<category><![CDATA[Cooperative Intelligent Transport]]></category>

		<category><![CDATA[nissan]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1458</guid>
		<description><![CDATA[Nissan Motor Co., Ltd. today announced that four advanced Cooperative Intelligent Transport technologies will be shown at the 15th World Congress on Intelligent Transport Systems (ITS). The ITS World Congress, which is being held at New York City&#8217;s Jacob K. Javits Center from Nov. 16 - 20, showcases future vehicle-to-vehicle and vehicle-to-infrastructure communications systems.

The systems [...]]]></description>
			<content:encoded><![CDATA[<p><a title="Nissan leasing" href="http://www.hitcarsearch.co.uk/carleasing/Nissan/">Nissan</a> Motor Co., Ltd. today announced that four advanced Cooperative Intelligent Transport technologies will be shown at the 15th World Congress on Intelligent Transport Systems (ITS). The ITS World Congress, which is being held at New York City&#8217;s Jacob K. Javits Center from Nov. 16 - 20, showcases future vehicle-to-vehicle and vehicle-to-infrastructure communications systems.</p>
<p><img class="alignnone" title="Cooperative ITS Prototype" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-01-01.jpg" alt="" width="350" height="175" /></p>
<p>The systems on display include Signal Violation Warning, Cross Traffic Notification, Oncoming Traffic Notification and Cooperative Intelligent Cruise Control. Nissan is developing these advanced systems for future applications to help inform the driver and help control the vehicle, with the goal of contributing to improved traffic safety as the infrastructure is implemented. Following are brief descriptions of each:<br />
Signal Violation Warning: If the vehicle is approaching an intersection with a red light or a light that will soon turn red without the driver applying the brakes, the Signal Violation Warning system issues visual and audible warnings to notify the driver of impending danger. These warnings are generated based on the traffic signal phase (color and duration), vehicle speed and distance to the intersection. The system calculates when the vehicle will arrive at the intersection and issues a warning if a conflict is anticipated.</p>
<p>Cross Traffic Notification: As the vehicle approaches an intersection without a traffic signal, the system will issue a crossing traffic notification to warn the driver of potentially unseen cross traffic. Warnings are generated based on information received from other vehicles and distance to the intersection.</p>
<p>Oncoming Traffic Notification: If the vehicle is in the left turn lane, the system will issue a warning of oncoming traffic based on information received from the other vehicles and vehicle location.</p>
<p>Cooperative ICC: If the vehicle using ICC approaches an intersection with a red light or a light that will soon turn red, the system will apply the brakes and bring the vehicle to a stop near the stop line.</p>
<p>These future systems are based on research and development conducted by Nissan as part of the U.S. Department of Transportation Vehicle Infrastructure Integration (VII) program over the past three years. These advanced systems utilize dedicated short range communication (DSRC) technology between road side equipment (RSE), on-board equipment (OBE) in the vehicle and other vehicles, and GPS-assisted high-accuracy vehicle positioning technology.</p>
<p>The vehicles equipped with the GPS receiver and OBE recognizes high accuracy map information, determines approximate vehicle positions, and receives traffic signal information when approaching intersections.<br />
<img class="alignnone" title="Cooperative ITS Configuration" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081111-01-02.gif" alt="" width="400" height="260" /></p>
<p>On a global level, Nissan is committed to build safer vehicles equipped with advanced safety technologies. In Japan, the company&#8217;s safety vision is to halve the number of traffic fatalities or serious injuries involving Nissan vehicles by 2015 compared with the level in 1995.</p>
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		<title>Nissan And Jaea Employ Nuclear Physics To Study Engine Lubrication</title>
		<link>http://www.hitcarsearch.co.uk/news/231454/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231454/#comments</comments>
		<pubDate>Sun, 23 Nov 2008 15:00:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[nissan]]></category>

		<category><![CDATA[neutron imaging system]]></category>

		<category><![CDATA[Nissan Motor Company]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1454</guid>
		<description><![CDATA[Nissan Motor Co., Ltd. and the Japan Atomic Energy Agency (JAEA) today announced that they have jointly developed a neutron imaging system that has provided the world&#8217;s first precise visualization of oil flow in an engine operating at high speed.

Combining neutron radiography to visualize through lightweight metals with high-speed imaging technology*1 to capture dynamic events, [...]]]></description>
			<content:encoded><![CDATA[<p>Nissan Motor Co., Ltd. and the Japan Atomic Energy Agency (JAEA) today announced that they have jointly developed a neutron imaging system that has provided the world&#8217;s first precise visualization of oil flow in an engine operating at high speed.</p>
<p><img class="alignnone" title="Imaging diagram for neutron visualization in a nuclear facility" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081110-03-03.jpg" alt="" width="350" height="260" /></p>
<p>Combining neutron radiography to visualize through lightweight metals with high-speed imaging technology*1 to capture dynamic events, the imaging system gives researchers an unprecedented chance to study the behaviour of lubricating oil*2 as it circulates through an automobile engine or drivetrain.</p>
<p><img class="alignnone" title="Image of oil flow inside an engine crankcase, captured at high speed" src="http://www.nissan-global.com/EN/NEWS/2008/_STORY/081110-03-02.jpg" alt="" width="350" height="190" /></p>
<p>Using its expertise in innovative atomic research, JAEA together with Nissan will conduct visualization test studies on engines to determine the causes of friction loss from the recorded behaviour of internal lubricating oil flow. The goal of the study is to redesign engines for optimal oil circulation with reduced friction in order to reduce fuel consumption and CO2 emissions in vehicles. The joint research is being conducted at JAEA&#8217;s Tokai R&amp;D Center*3.</p>
<p>Under the Nissan Green Program 2010, Nissan will continue its collaborative research to develop new technologies, products and services that can lead to real-world reductions of CO2 emissions.</p>
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		<title>Nissan Brand Launches in Korea</title>
		<link>http://www.hitcarsearch.co.uk/news/231456/</link>
		<comments>http://www.hitcarsearch.co.uk/news/231456/#comments</comments>
		<pubDate>Sun, 23 Nov 2008 09:00:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[nissan]]></category>

		<category><![CDATA[nissan korea]]></category>

		<category><![CDATA[Nissan Motor Company]]></category>

		<guid isPermaLink="false">http://www.hitcarsearch.co.uk/news/?p=1456</guid>
		<description><![CDATA[Nissan Motor Co., Ltd. (NML) announced the Nissan brand officially launches today in Korea. Leading the Nissan brand expansion into Korea are the Murano premium mid-size crossover and the Rogue compact crossover. The Nissan range will be available through four showrooms in Seoul, Gyeonggi and Busan.
&#8220;The introduction of the Nissan brand in Korea represents an [...]]]></description>
			<content:encoded><![CDATA[<p>Nissan Motor Co., Ltd. (NML) announced the Nissan brand officially launches today in Korea. Leading the Nissan brand expansion into Korea are the Murano premium mid-size crossover and the Rogue compact crossover. The Nissan range will be available through four showrooms in Seoul, Gyeonggi and Busan.</p>
<p>&#8220;The introduction of the Nissan brand in Korea represents an important part of the company&#8217;s continuing focus on our global business growth,&#8221; said Gilles Normand, corporate vice president in charge of the Korean market business at NML. &#8220;Korea is in fact, one of the last major global automotive markets not served by the Nissan brand, and so today has special significance for the company.&#8221;</p>
<p>The initial lineup of Nissan models will be followed first by the Altima sedan early next year and then the high performance Nissan GT-R supercar. The Nissan brand comes to the Korean market three years after the introduction of Infiniti, the company&#8217;s luxury brand.</p>
<p>&#8220;With the arrival of the Nissan brand to the Korean market today, we now have two distinctive brands to meet our customers&#8217; diverse needs, and we are the first Japanese automotive company to introduce both the luxury and the premium brand in the market,&#8221; said Greg Phillips, President of Nissan Korea Co., Ltd. (NKL). &#8220;We&#8217;re confident that the globally recognized Nissan brand will be welcomed in this new market.&#8221;</p>
<p>In addition to the four Nissan showrooms now open, NKL schedules to open a Nissan outlet next year in Incheon as just one more sales point in a dedicated dealer network being built for the Nissan brand across the country.</p>
<p>Murano is available at 48.9 million won, including VAT. Rogue is offered as 2WD, 4WD Deluxe and 4WD Premium and is priced at 29.9 million won, 34.6 million won and 35.9 million won, including VAT, respectively.</p>
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