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Automotive and Insurance Industry News
Auto Suppliers Feel the Heat to
Expand Globally DETROIT,
March 8/ -- Manufacturing won’t disappear in Europe and North
America but it will undergo some relocating. The development of
emerging markets and the need to compete with peers in low-cost
countries will draw more automotive manufacturing investments into
the south of the U.S. and Mexico and toward Asia and Eastern Europe. In
a study conducted by Roland Berger Strategy Consultants, the company
found that movement to low labor cost locations is the highest
priority for suppliers. North
America and Western Europe will lose 11% to 20% of their global
supplier production share by the end of 2010, as automotive supplier
production in Asia and Eastern Europe will soar. ZAP Electric Cars Save Gas,
Save Money SANTA
ROSA, Calif., March 8 / -- Gas prices are hitting record highs, and
while you may not be able to get them from major automakers these
days, electric car company ZAP (OTC Bulletin Board: ZAPZ) of
Northern California says it has over 100 models in stock for
consumers and auto dealers interested in selling them.
With
some reports predicting gas prices of $3.00 per gallon this summer,
saving gas is quickly becoming more of an issue of saving money. Zap
says freeway capable electric cars, with a range of 50 miles per
charge, cost about $1.50 per charge at 5 cents per kilowatt-hour, or
3 cents per mile. Porsche Carrera GT Christened
Road & Track's 'Best Dream Car 2004' ATLANTA,
March 8 / -- In Road and Track Magazine’s inaugural Readers'
Choice Award, the Porsche Carrera GT has won the "Best Dream
Car 2004." The survey was conducted entirely online, asking
consumers for their opinion for "Best Car 2004" and
"Best Dream Car 2004." These awards will be featured in the April issue of Road
& Track. To
be eligible for the "Best Dream Car 2004" award, cars must
be an enthusiast
car with above-average performance and handling, pleasing design and
space and fuel efficiency. It
must also be an all-new model and have a 2004 model year
designation. Bridgewater Interiors Wins
Ford’s Largest Minority Contract Ever WARREN,
Mich., March 8 / -- Officials of Bridgewater Interiors announced
that the firm has earned the largest contract ever awarded to a
minority-owned firm by Ford Motor Company. The agreement with Ford calls for Bridgewater Interiors to supply automotive seat systems for the F-150 pickup trucks built at Ford's Dearborn Assembly Plant in Dearborn, Michigan, as well as the Ford Expedition and Lincoln Navigator models produced at the automaker's Michigan Truck Assembly Plant in Wayne, Michigan. The contract, valued at more than $500 million annually, is believed to be the largest contract between an automaker and a minority supplier in automotive history.
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