Automotive News - September 29, 2008 - (Page 32) 32 • SEPTEMBER 29, 2008 Minority supplier drops stamping business Robert Sherefkin and David Barkholz rsherefkin@crain.com Customer Incentives SUBARU , Incentives in this table are a Cash rebate summary of retail programs offered. Programs may vary by region and model. Cash rebate Finance rate Cash rebate Finance rate Cash rebate Finance rate Finance rate BMW Expires Oct. 31. 2008 models M5, M6 3 series, 5 series, 6 series 1 series, M3, X5 7 series, X3, Z4, Z4 M – 0.9% – 0.9-4.9% – 1.9-2.9% – 3.9% CHRYSLER LLC Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Chrysler Aspen, 300, Town & Country $500-$1,500 – Dodge Journey $1,000-$2,000 – Grand Caravan $750-$1,000 – Ram 1500, Durango, Caliber, Avenger $500-$1,000 – Jeep Patriot $500-$1,500 – 2008 models Chrysler 300C $4,500-$5,500 0-5.9% Aspen, 300 (excl. SRT8 and C) $3,500-$4,500 0-5.9% Sebring $1,000-$4,500 0-5.9% PT Cruiser (excl. convertible) $500-$3,500 0-3.9% Town & Country $2,000-$3,000 0-5.9% Pacifica $2,000-$2,500 0-5.9% PT Cruiser convertible $1,000 0-3.9% Dodge Ram 1500 $5,000-$6,000 0-5.9% Ram 2500/3500 $4,500 0-7.9% Durango $3,500-$4,000 0% Charger $1,500-$4,000 0-5.9% Avenger, Magnum $1,500-$3,500 0-5.9% Grand Caravan $2,000-$3,000 0-5.9% Dakota $2,000-$2,500 0-5.9% Caliber $750-$2,500 0-5.9% $1,000-$1,750 0-5.9% Nitro Jeep Grand Cherokee $2,500-$5,500 0% Commander $3,500-$4,500 0% Liberty, Patriot $1,500-$2,000 0-5.9% $1,000-$1,750 – Wrangler Compass $750-$1,250 0-5.9% DETROIT — A nationally known minority-owned auto parts maker is closing plants and restructuring away from the stamping business, after the failure this year of Plastech Engineered Products Inc. Lapeer Metal Stamping, owned by CEO Gerald Diez, is closing three Michigan stamping plants in Lapeer, Sebewaing and suburban Detroit. It closed one stamping plant last year. Lost business Darryl Bragg, vice president of UAW Local 9699 in Marlette, near Sebewaing in eastern Michigan, said Lapeer was as big as $120 million in annual sales in 2006. But then it lost Chrysler business, and Lapeer Metal Stamping is closing Michigan stamping plants in Lapeer, Sebewaing and suburban Detroit. sales fell to about $70 million in 2007, he said. With the latest closings, Lapeer’s remaining stamping business with General Motors and Ford Motor Co. will be dispersed elsewhere, Bragg said. Some tools are being moved to stamper L&W Engineering Co., of Belleville, Mich., he said. The UAW local represents hourly workers at two of the three closing plants. Diez Group, a suburban Detroit holding company for Lapeer and Diez’s steel processing operations, posted revenue of $536 million in 2007. Calls to Diez were not returned. He acquired Lapeer in 1988. Tightening credit and the precipitous drop in vehicle production have parts makers under stress. Earlier this year, Plastech, the largest woman-owned auto parts maker in the United States, filed for Chapter 11 bankruptcy protection after a dispute with customer Chrysler LLC. By contrast, in September 2007, GM stepped in to rescue eight blackowned suppliers. Those companies were among the industry’s largest and most prominent minority companies — including the Bing Group, headed by former National Basketball Association star Dave Bing. FORD MOTOR CO. Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Ford Explorer $2,000 3.9-7.9% Fusion $1,500-$2,000 1.9-5.9% Flex $0-$2000 0.9-6.9% $1,500 3.9-7.9% Mustang Escape, Explorer Sport Trac, Taurus, Taurus X $1,000 1.9-7.9% Focus, Econoline $500-$1,000 3.9-7.9% Lincoln Town Car $3,000 4.9-8.9% MKZ $1,000-$1,500 2.9-6.9% MKS – 0.9-4.9% Mercury Grand Marquis $4,000 4.9-8.9% Mariner, Milan $500-$2,000 1.9-5.9% Sable $1,000 3.9-7.9% 2008 models Ford F-250 Super Duty, F-350 Super Duty, F-450 Super Duty $4,500-$6,500 0.9-4.9% F-150 $3,500-$4,000 0-7.9% Expedition, Expedition EL $3,000 3.9-7.9% Edge, Escape, Ranger $2,000-$3,000 0-4.9% Explorer $2,500 3.9-7.9% Econoline, Fusion, Mustang $1,500-$2,500 0-7.9% Taurus, Taurus X $1,500-$2,000 3.9-7.9% Focus $500-$2,000 3.9-7.9% Explorer Sport Trac $1,000 3.9-7.9% Escape Hybrid – 4.9-8.9% Lincoln Mark LT $6,500 3.9-7.9% Navigator $4,000-$5,000 3.9-7.9% Town Car $4,000-$4,500 4.9-8.9% MKX, MKZ $0-$3,500 0-3.9% Mercury Grand Marquis $3,250-$4,500 3.9-9.9% Mariner $750-$3,000 0-5.9% Mountaineer $1,250-$2,500 3.9-9.9% Milan $0-$2,000 0-7.9% Sable $250-$1,500 3.9-9.9% Mariner Hybrid – 4.9-8.9% Hummer H3 $3,500 H2, H2 SUT $2,500 H3T $1,500 Pontiac Vibe $500 G5, G6, G8, Solstice, Torrent – Saturn Aura, Outlook, Sky, Vue – 2008 models Buick Lucerne, LaCrosse $500 Enclave – Cadillac DTS $3,000 STS, STS-V $2,500 $2,000 Escalade, SRX XLR, XLR-V $1,000 CTS – Chevrolet Avalanche, Suburban, Tahoe, TrailBlazer $2,000 Express cargo $1,500-$2,000 Silverado 1500 $1,000-$2,000 Express $1,500 Silverado 2500HD, Silverado 3500HD, HHR, Equinox $1,000 Colorado $0-$1,000 Cobalt, Impala $500 Aveo, Malibu, Corvette, Uplander – GMC Envoy, Yukon, Yukon XL, Yukon Hybrid $2,000 Savana cargo $1,500-$2,000 Sierra 1500 $1,000-$2,000 Savana $1,500 Sierra 2500HD, Sierra 3500HD $1,000 Canyon $0-$1,000 Acadia – Hummer H2, H2 SUT $6,000 H3 $5,000 Pontiac Grand Prix $2,000 Torrent $1,000 G5, Vibe, Solstice $500 G6 $0-$500 G8 – Saab 9-7X $3,500 9-5 $2,500 9-3 $2,000 Saturn Vue (excl. hybrid) $500-$1,000 Aura, Sky $0-$500 Outlook – 6.9-7.9% 6.9-7.9% 1.9-4.9% 5.9-6.9% 6.9% 6.9% 6.9-7.9% 6.9-7.9% 0.9-5.9% 0.9-5.9% 0.9-5.9% 0.9-5.9% 0.9-5.9% 2.9-6.9% 2.9-6.9% 2.9-7.9% 2.9-6.9% CX-7, CX-9 – 3.9% 2008 models Mazda6, RX-8 $2,750-$3,500 0-1.9% Tribute $2,500 1.9% B series $2,000 – – 1.9-3.9% CX-7, CX-9, Mazda5 S60, V70, XC70 C70, S40, V50 C30 – – – 4.9% 5.9% 6.9% Dealer Incentives Incentives in this table are a summary of dealer programs offered. Programs may vary by region and model. MERCEDES-BENZ Expires Sept. 30. 2009 models R class 2008 models C class, CLK class, GL class E class, M class, R class S class – 2.9% BMW Expires Oct. 31. 2008 models – 2.9% – 1.9-2.9% – 3.9% 7 series Z4 M Z4 $7,500 $3,500 $2,500-$3,000 MITSUBISHI Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Galant $2,000 0-2.9% Eclipse $1,000 3.9-5.9% Eclipse Spyder, Lancer – 3.9-5.9% 2008 models Endeavor, Galant, Raider $3,000-$4,000 0-2.9% Eclipse, Eclipse Spyder $2,000-$2,500 0-4.9% Lancer, Outlander $0-$1,000 0-4.9% Lancer Evolution – 2.9-5.9% CHRYSLER LLC Expires Sept. 30. 2008 models Chrysler PT Cruiser Pacifica 300 Town & Country Dodge Ram 1500 Ram 2500/3500 Avenger, Caliber, Charger, Dakota, Durango, Magnum, Nitro Grand Caravan Jeep Commander, Compass, Liberty, Patriot, Wrangler Grand Cherokee $0-$3,500 $1,000-$2,000 $0-$1,000 $0-$750 $0-$3,000 $0-$4,000 4.9-7.9% 4.9-7.9% 6.9-7.9% 6.9-7.9% 2.9-6.9% 2.9-6.9% 2.9-7.9% 2.9-6.9% 4.9-7.9% 4.9-7.9% 6.9-7.9% 0% 0% 2.9-6.9% 4.9-7.9% 6.9-7.9% 6.9-7.9% 6.9-7.9% 0.9-5.9% 0.9-5.9% 0.9-5.9% 4.9-7.9% 6.9-7.9% 6.9-7.9% NISSAN NORTH AMERICA Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Nissan Armada $3,000 2.9% Titan $2,500 2.9-3.9% Versa $500 3.9% 2008 models Infiniti FX35, FX45, EX35, Q56 – 0% M35, M45 – 0.9-1.9% G35, G37 – 1.9% Nissan Armada, Titan $4,500-$5,000 0-1.9% Quest $3,500 1.9% Xterra $3,000 0.9% Maxima, Pathfinder $2,500 1.9-3.9% Frontier $1,750-$2,500 0.9-2.9% Sentra $1,500 3.9% Altima $500-$1,250 3.9% Versa $800 2.9% Altima Hybrid, Rogue $500 3.9% 350Z – 1.9-2.9% $1,000 $0-$750 $1,000 $0-$1,000 GENERAL MOTORS Expires Sept. 30. 2009 models Cadillac DTS SRX, STS, STS-V, XLR, XLR-V Escalade (incl. Hybrid) Saab 9-3, 9-5, 9-7X $2,000 $1,500 $1,000 $2,000 AMERICAN HONDA MOTOR CO. Expires Sept. 30. 2008 models Acura MDX TL RDX Honda Ridgeline Pilot Odyssey S2000 Accord $4,000 $3,500 $3,000 $4,500 $4,000 $3,500 $2,500 $500 SUBARU Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Forester, Legacy, Outback – 3.9-4.9% 2008 models Forester, Impreza, Legacy, Outback $500-$2,000 0-4.9% Tribeca – 0-4.9% AMERICAN HONDA MOTOR CO. Expires Sept. 30. 2009 models Acura RDX Honda Pilot 2008 models Acura MDX, RDX, TL Honda Odyssey, Ridgeline CR-V Accord, Element – 0.9-2.9% – 0.9-2.9% – – – – 0.9-2.9% 0.9-2.9% 1.9-3.9% 1.9-5.5% LAND ROVER Expires Sept. 30. 2008 models LR3, Range Rover LR2, Range Rover Sport $3,000-$6,000 $1,500-$4,000 SUZUKI Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2008 models Grand Vitara, XL7 $2,000-$3,000 0% SX4 $0-$1,500 0% Reno, Forenza $500 – MERCEDES-BENZ Expires Sept. 30. 2008 models CL class, S class R class CLK class CLS class, GL class E class, SLK class M class C class $0-$10,000 $7,000-$9,000 $0-$8,000 $6,000-$7,000 $0-$6,000 $0-$5,000 $2,000-$3,500 HYUNDAI Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Sonata $2,000 – Azera $1,000 2.9-5.25% Genesis – 0.9-3.9% 2008 models Santa Fe $2,500-$3,500 – Sonata $3,000 – Entourage, Veracruz $3,000 0-1.9% Azera $2,500 – Tucson $1,000 -$2,000 – Tiburon $500-$1,750 – Elantra, Accent $1,000 – TOYOTA MOTOR SALES Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Lexus RX 350 $1,000 – Toyota Tacoma $0-$1,250 2.9-4.9% Camry (excl. Hybrid), Matrix $0-$1,000 0-4.9% Sienna $0-$750 3.9-5.9% Corolla – 0% 2008 models Lexus LS 460, SC 430 $3,000-$4,000 – ES 350, GX 470 $1,000-$2,000 – Toyota Sequoia, Tundra $2,500-$5,500 0-1.9% 4Runner $2,500-$3,500 0-0.9% Sienna $1,800-$2,500 0-2.9% FJ Cruiser, Tacoma $0-$2,500 0-4.9% Highlander, Camry $0-$1,500 0-4.9% Avalon, Camry Solara, RAV4 $0-$1,000 0-4.9% NISSAN NORTH AMERICA Expires Sept. 30. 2008 models Infiniti EX35, FX35, FX45, Q56 G35, M35, M45 Nissan 350Z $4,000-$7,000 $2,000-$3,500 $1,000-$3,000 SUBARU Expires Sept. 30. 2009 models Outback Legacy 2008 models Tribeca Impreza $0-$3,000 $0-$1,000 $0-$1,000 $0-$500 JAGUAR Expires Oct. 2. 2008 models XJ – 2.9-5.8% KIA Expires Sept. 30. In lieu of rebates, cut-rate financing is available. 2009 models Borrego – 2.5-3.9% http://www.Edmunds.com
Table of Contents Feed for the Digital Edition of Automotive News - September 29, 2008 GM, Ford and Chrysler place new-product bets Credit freeze could mean cash crisis Mr. Big Volume reaches the end of the line Korea's revolving door Mazda quits Ford Credit for Chase Mitsubishi, UAW reach tentative agreement Volt could break feds' 100 mpg ceiling Chase cuts back on auto leasing Target for Traverse: No. 1 in large crossovers BMW's new 7 series: Timing may be all wrong Tucson revisited Can Ford light fire under Fiesta? Lithia puts brakes on used-car stores Revived Mercury will focus on 3 segments VW taps 'zealots' to promote diesels Farley, Leuliette will kick off World Congress The new Soul (and nose) of Kia Hyundai: Drivetrain key to more mpg Taxpayers at risk if firms get fed loans - then fail GM plans high-tech small engines for Volt and Cruze Buick looks upscale Denso says U.S. woes will cut its profits Denso: No plans to make hybrid parts in U.S. Bailouts are a bad idea Chic small cars? Check them out at the Paris show Credit's no problem, but a weak brand is Helping dealers helped GM Ford field rep didn't help at all Who knew? Electric cars are fun to drive Where is the power going to come from? Hyundai shifts its U.S. ad agency Hyundai, Kia mold separate identities Behind on hybrids, Hyundai sets high goals Dealers Flashes of genius, years of turmoil No cop-out; car designed for police use PICTURE THIS: A trip to the bank RV sales drop 31.9% in June Mexico sales off 4.8% in Aug., 1.2% for 8 mos. Suzuki to aim pickup at motorcycle owners Experts: Learn Korean hierarchies Readers' comments on Bill Heard's collapse Bill Ford sells some Ford stock CarMax net income falls ArvinMeritor raises forecast Toyota plans CNG concept Chrysler cuts 250-300 salaried workers Minority supplier drops stamping business Will Cerberus buy up Chrysler to wave bye-bye? Rioters kill supplier exec in India No pickup seen for pickups Piech's ploy was masterstroke in war with Porsche Honda's highway groove music: It sounded better on vinyl St. Louis dealer to paper that outsourced typesetters: 'Deal me out' Automotive News - September 29, 2008 Automotive News - September 29, 2008 - (Page Intro) Automotive News - September 29, 2008 - (Page Bellyband1) Automotive News - September 29, 2008 - (Page Bellyband2) Automotive News - September 29, 2008 - Mr. Big Volume reaches the end of the line (Page 1) Automotive News - September 29, 2008 - Mr. Big Volume reaches the end of the line (Page 2) Automotive News - September 29, 2008 - Volt could break feds' 100 mpg ceiling (Page 3) Automotive News - September 29, 2008 - Tucson revisited (Page 4) Automotive News - September 29, 2008 - Tucson revisited (Page 5) Automotive News - September 29, 2008 - The new Soul (and nose) of Kia (Page 6) Automotive News - September 29, 2008 - The new Soul (and nose) of Kia (Page 7) Automotive News - September 29, 2008 - Buick looks upscale (Page 8) Automotive News - September 29, 2008 - Buick looks upscale (Page G1) Automotive News - September 29, 2008 - Buick looks upscale (Page G2) Automotive News - September 29, 2008 - Buick looks upscale (Page G3) Automotive News - September 29, 2008 - Buick looks upscale (Page G4) Automotive News - September 29, 2008 - Buick looks upscale (Page G5) Automotive News - September 29, 2008 - Buick looks upscale (Page G6) Automotive News - September 29, 2008 - Buick looks upscale (Page G7) Automotive News - September 29, 2008 - Buick looks upscale (Page G8) Automotive News - September 29, 2008 - Buick looks upscale (Page G9) Automotive News - September 29, 2008 - Buick looks upscale (Page G10) Automotive News - September 29, 2008 - Buick looks upscale (Page G11) Automotive News - September 29, 2008 - Buick looks upscale (Page G12) Automotive News - September 29, 2008 - Flashes of genius, years of turmoil (Page 9) Automotive News - September 29, 2008 - Denso says U.S. woes will cut its profits (Page 10) Automotive News - September 29, 2008 - Denso says U.S. woes will cut its profits (Page 11) Automotive News - September 29, 2008 - Ford field rep didn't help at all (Page 12) Automotive News - September 29, 2008 - Ford field rep didn't help at all (Page 13) Automotive News - September 29, 2008 - Where is the power going to come from? (Page 14) Automotive News - September 29, 2008 - Where is the power going to come from? (Page 15) Automotive News - September 29, 2008 - Hyundai, Kia mold separate identities (Page 16) Automotive News - September 29, 2008 - Hyundai, Kia mold separate identities (Page 17) Automotive News - September 29, 2008 - Behind on hybrids, Hyundai sets high goals (Page 18) Automotive News - September 29, 2008 - Behind on hybrids, Hyundai sets high goals (Page 19) Automotive News - September 29, 2008 - Dealers (Page 20) Automotive News - September 29, 2008 - Dealers (Page 21) Automotive News - September 29, 2008 - RV sales drop 31.9% in June (Page 22) Automotive News - September 29, 2008 - RV sales drop 31.9% in June (Page 23) Automotive News - September 29, 2008 - RV sales drop 31.9% in June (Page 24) Automotive News - September 29, 2008 - RV sales drop 31.9% in June (Page 25) Automotive News - September 29, 2008 - RV sales drop 31.9% in June (Page 26) Automotive News - September 29, 2008 - Mexico sales off 4.8% in Aug., 1.2% for 8 mos. (Page 27) Automotive News - September 29, 2008 - Suzuki to aim pickup at motorcycle owners (Page 28) Automotive News - September 29, 2008 - Experts: Learn Korean hierarchies (Page 29) Automotive News - September 29, 2008 - Readers' comments on Bill Heard's collapse (Page 30) Automotive News - September 29, 2008 - Chrysler cuts 250-300 salaried workers (Page 31) Automotive News - September 29, 2008 - Minority supplier drops stamping business (Page 32) Automotive News - September 29, 2008 - Minority supplier drops stamping business (Page 33) Automotive News - September 29, 2008 - St. Louis dealer to paper that outsourced typesetters: 'Deal me out' (Page 34) Automotive News - September 29, 2008 - St. Louis dealer to paper that outsourced typesetters: 'Deal me out' (Page 35) Automotive News - September 29, 2008 - St. Louis dealer to paper that outsourced typesetters: 'Deal me out' (Page 36)
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