Despite a low key profile by General Motors and Toyota executives, the competition for the title of "Number 1 in Worldwide Sales" is bubbling just below the surface. The latest eruption may be in South Korea. The Toyota brand will be joining Lexus on the peninsula, setting up a dealer network and planning to sell three models there by the second half of 2009 including hybrids. Globally, in 2007 Toyota produced more vehicles than GM, but GM retained the sales title by 3,000 units.
Ford CEO Alan Mulally and Chrysler CEO Bob Nardelli said their companies have cut factory capacity and other costs to make it through a deeper economic slowdown. Chrysler prepped for the downturn with layoffs and cuts in manufacturing and inventory. Mulally told analysts Ford is economically prepared even if U.S. auto sales drop to the low-15 million vehicle sales range.
The American Trucking Associations (ATA) is projecting the highest diesel fuel prices ever, and expects the trucking industry to spend about $135 billion this year. This would be a $22 billion cost increase over the 2007 annual expenditure. For some trucking companies, fuel is now their biggest expense category - up to 25% of total costs.
LeasePlan USA has promoted Kristofer Bush to Vice President of Marketing. In this position, Bush will be responsible for the direction of the strategic and tactical execution of LeasePlan's marketing department, which encompasses brand management, research, and association and key vendor management. Bush, a nine-year LeasePlan veteran, has served in several different roles within marketing.
