Stories from the world of motors
SIMI'S ELECTION CALL: The Society of the Irish Motor Industry (SIMI) has called for Vehicle Registration Tax (VRT) to be part of the European election campaign. Speaking at the organisation's AGM, chief executive Cyril McHugh said: "The impact of VRT on the operation of the European internal market is a serious cause of concern for everyone except, of course, the Government."
TOYOTA PROFIT: Toyota yesterday became the first Japanese company to report a net profit of over a trillion yen, solidifying its position as the second largest car maker in the world and closing the gap on market leader General Motors.
The Japanese company said net profit rose 55 per cent in the year ended March to Y1,160bn (EUR8 billion). The result sets the stage for a transpacific battle between the Japanese and US giants as Toyota focuses on meeting its stated aim of controlling 15 per cent of the global market share within the next decade - the same level as GM enjoys now.
FIAT DEMAND: Brisk demand for new models and efficiency savings helped Fiat almost halve operating losses at its struggling car business in the first quarter and restate its target to break even by year-end. Operating losses at Fiat Auto, which includes Lancia, Alfa Romeo, Ferrari and Maserati, fell to EUR192 million from EUR334 million for the first quarter of 2003.
BIRTHDAY BADGE: The MG badge is 80 years old and its octogenarian status is being celebrated with an Irish rally involving 50 cars and 200 participants from seven European countries. It starts this morning from the MG Rover base at Sandyford Business Park in Dublin: the organisers are the MG Enthusiasts Club in the Republic and the MG Car Club of Northern Ireland. Today's route includes counties Wicklow and Kildare. The rally moves into Northern Ireland tomorrow.
KOREAN NEWCOMER: Kia has launched its new Picanto (above) range on the Irish market. On sale from May 28th, it's likely to start at EUR11,500 for the 1-litre entry model and rise to EUR13,000 for the sportier 1.1-litre model, though prices have yet to be finalised. Chris Haughton, managing director of Kia Motors Ireland, says the company hopes to sell 300 to 400 this year, and will turn it into a volume seller next year. The 1.1-litre model has alloys, air-con, disc brakes, spoiler kit and has a colour co-ordinated interior.