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One part of my job here at Automotive News is to scan the scads of auto-related Web sites daily to see what's going on out there Richard Truett is the engineering beat reporter for Automotive News. DETROIT -- Seat maker Lear Corp. plans an additional $150 million in cost cuts in the next year. J.D. Power and Associates, which tracks U.S. auto sales on a daily basis, sees October sales on track to fall below 12 million units on an annualized basis, extending a downturn that automakers hoped had hit bottom in the summer. Smart cars and Volkswagen diesels are the new stars of government fuel economy ratings. The EPA and Energy Department today issued the 2009 fuel economy guide. The overall fuel economy leader is no surprise. Toyota Financial Services has launched its Toyota Rewards Visa program to boost revenues at Toyota dealerships and encourage customer loyalty. Renault gained market share in Europe despite a 5 percent sales decline to 119,597 units in September. Renault said its group market share, including sales by Romanian subsidiary Dacia, increased 0. European new vehicle registrations fell 8.2 percent year-on-year in September despite two extra working days, as the fall-out from the financial crisis hit auto manufacturers hard, manufacturers' association ACEA said. General Motors, in the wake of lending restrictions by its partially owned finance unit, will begin an advertising campaign reminding consumers that they can still finance vehicles through GM dealerships. Five or six deals to buy closed Bill Heard Enterprises Inc. dealerships are being negotiated, including deals for two stores in Las Vegas, Heard Enterprises attorney Robert Rubin said today. Rubin spoke during a hearing at U.S. GMAC Financial Services said yesterday that it will only lend money to prime borrowers with credit scores of more than 700. The restriction would rule out one out of four new car loans, according to one recent report. Home Page
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