Turin in June 2000
THE NEXT Turin show will be held from 23 June to 2 July 2000. OICA, the manufacturer group, approved the move, which was requested because the traditional April date is overshadowed by the Geneva show in March.
MOSCOW - Russia's largest automaker, AvtoVAZ, said it will cut back production in July if orders don't increase. Chairman Vladimir Kaddanikov said the company lacks working capital. AvtoVAZ has 18,000 completed Ladas in stock and 14,000 others that are waiting for parts.
AvtoVAZ has met its schedule of tax payments to Russia of $25 million per month and has not laid off any workers. However, sales slowed down in April and May.
Brazil sales fall
SAO PAULO - Brazilian car and truck sales fell 12 percent in May to 154,283, compared with 1997. Volkswagen's car sales fell 28 percent to 33,733, barely ahead of Fiat with 33,418 units. GM's car sales rose 10 percent to 29,524.
Reuters News Service
New GM Asia boss
DETROIT - Rudolph Schlais, 57, has been named president of General Motors Asian and Pacific Operations, based in Singapore. Schlais has led GM China Operations since October 1994. He will keep responsibility for China in his new job. Schlais replaces Donald Sullivan, 54, who becomes vice president for planning at GM International in Detroit. Sullivan succeeds Michael Nylin, 46, who will head a GM International special projects group in Zurich.
Tatra truck stake
PLZEN, Czech Republic - Engineering company Skoda a.s. will sell its 43.5 percent stake in truckmaker Tatra by August. Analysts say Tatra, which owes about $90 million to Czech banks, could be sold for about $10 million. Skoda a.s. is unconnected with Volkswagen AG's Skoda Auto subsidiary.
Reuters News Service
Toyota low-cost car
SAO PAULO - Toyota will build a third plant in South America, according to industry sources. The plant, in either Brazil or Argentina, will produce a low-cost, 1.0-liter car designed for emerging markets, according to sources.
Toyota has a plant in Argentina that produces Hilux utility vehicles, and a nearly completed Brazilian plant that makes pre-production units of the Corolla, which will be launched in August. Toyota officially says nothing about the third plant.
LONDON - LucasVarity raised its first-quarter pretax profit by 197 percent to £217 million ($133 million) on a 2.5 percent decline in sales to £1.17 billion. Profits were boosted by a £135 million gain from the sale of its assets, including VarityPerkins diesel engines unit, which was to Caterpillar of the USA.