Ford embraces Internet
DETROIT - The Internet may change business more than anything since the telephone, said Bud Mathaisal, Ford Motor Co. chief information officer at the recent Auto-Tech 98 conference in Detroit
But he warned the Internet should not only be judged by direct-to-customer sales.
Mathaisal said the Internet offered automakers involvement in customer's needs throughout the life cycle of a car, rather than just at the point of purchase. 'There are a lots of ways to stick your scoop into the revenue stream,' Mathaisal said.
Auto industry opens Internet
DETROIT - The first three 'certified service providers' and the first two 'trading partners' on the US auto industry's private Internet were announced during the Auto-Tech 98 conference.
The network does not officially open until November but General Motors, has told some suppliers they must move electronic communications by 31 December.
Metal stamping acquisitions
NEW YORK - TMB Industries of Chicago and Chase Capital Partners of New York have formed Metalforming Technol-ogies Inc., to acquire metal-stamping companies. The new firm has already purchased: Northern Tube Inc and Johnson Stamping & Fine Blanking Co. Northern Tube makes exhaust tubing and tubular frame rails for trucks. Annual sales total $50 million. Johnson makes transmission and safety components, with annual sales of $20 million.
Mitsubishi targets a million
Mitsubishi Motor Sales of America, is spending $44 million in September advertising its new 1999 Galant sedan. It is spending millions on a direct mail campaign to reach 1 million prospective buyers. Mitsubishi hopes to sell 60,000 new Galants, in the year to August 1999.