News from the world of motors
LOWER RISES: Average retail prices for new cars in Ireland rose by 4.3 per cent in the 12 months to February 2004, comparing favourably with a 4.8 per cent average rise in western Europe. A survey by PricewaterhouseCoopers and eurocarprice.com show average retail prices here last month were 29 per cent higher than the western Europe average and 30 per cent higher than the euro zone average.
BUSH BACKLASH: The Bush administration has strongly opposed US Senate legislation setting strict deadlines for it to require carmakers to strengthen roofs, protect passengers from ejection and other safety measures. The legislation proposes the most sweeping car safety mandate since landmark 2000 legislation after a massive Firestone tyres recall over fatal rollovers.
GHOSN GOES WEST: Nissan boss Carlos Ghosn is to directly oversee its North American operations. Owned 44 per cent by Renault, Nissan, like most Japanese carmakers, gets most of its earnings in US where it is in the midst of an aggressive product offensive. Ghosn is due to become Renault CEO in April 2005, while keeping his Nissan post.
OPEL CHANGES: Major changes ahead for Opel in Ireland. Now under the control of Vauxhall, the British arm of parent General Motors has serious intentions for the Opel brand here, where it has recently slipped out of the top five car brands. Senior European management at GM are busy identifying crossover benefits in marketing and communication in all GM's European brands, including Saab and Daewoo. The latest move is the appointment of Stephen Markwell of Vauxhall to take over the marketing and promotions operation of Opel in Ireland.
Meanwhile GM dropped from second to third in Fortune 500's list of America's largest companies, while Ford ranked fourth. Retailing giant Wal-Mart, took the top spot in the magazine rankings, while oil giant Exxon Mobil moved to second from third.