The Class of 2015 for Automotive HOF Announced

automotive hall of fame

Four individuals who have been key contributing members to the world’s automotive industry have been announced as the newest inductees of the Automotive Hall of Fame at the 2015 Induction and Awards Gala ceremony on July 23 in Detroit, Mich.

The list includes Elwood Haynes, who helped establish the Haynes-Apperson Automobile Company, which made important contributions in building some of the earliest motor vehicles from 1905 to 1924 – featuring vehicles that allowed bumpers, sun visors and fashionable individual steps as running boards.

Luca di Montezemolo, who helped create one of the largest automotive companies in Europe as the former head of Ferrari – a brand that has put Italian automobiles on the international map and eventually helped evolve cars used in different racing circuits dating back to the 1970s.

Roger Penske helped form Penske Corporation in 1969 and currently serves as the chairman of the board. During his time, he’s established one of the most successful and best-known car and track owners in the long history of professional motor sports and even made the change from professional driver to team owner.

Ratan Tata, of India, and has built the foundation of, and continues to act as chairman, Tata Sons, which about 66 percent of equity capital is held by various philanthropic trusts endowed by Tata family members – including the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust.

Additionally, the Automotive Hall of Fame has plans to honor Rodney O’Neal – the former chief executive officer and president of Delphi Automotive PLC – as the 2015 Industry Leader of the Year during the ceremony in what is considered one of the highest honors that can be given on behalf of everyone within the global automotive industry.

Selection for the Hall of Fame is meant for individuals and groups with work that has helped continue the evolution of the automotive market while recognizing what those contributions mean to the history of a still improving industry. The ceremony is tentatively scheduled for 6 p.m. on July 23 at the Detroit Marriott at the Renaissance Center.

Tickets can be purchase online at or by calling 313-240-4000.

*This post is courtesy of our friends from Slush Machines. Check out their website to see different options of comfort foods.

Volvo Announces Plans to Build S.C. Plant

More jobs are coming to the United States and they involve the automotive manufacturing sector.

Volvo Cars made the announcement in May that they will build a new $500 million plant – its first in the states – that will employ up to 4,000 people over time at a location that sits about 30 miles northwest of Charleston, S.C. Volvo is the third foreign automaker to bring work to the state – the first was BMW bringing a plant in Greer, S.C., followed by Daimier AG building Sprinter vans in Ladson, S.C.

Volvo’s newest plant will be built within the old Camp Hall timber plant off the state’s Interstate 26 near Ridgeville on a 2,881-acre plot of land. Construction of the Swedish automaker’s plant will begin in the fall and should be producing their first cars in 2018.

The new Charleston plant will add to the four Volvo factories already operating in Europe and China. Volvo is expected by some to hire 2,000 in the next decade after the plant opens and then an additional 2,000 by the year 2030, according to South Carolina’s Department of Commerce.

Volvo is known for only producing two models at each plant, but there’s no confirmation which vehicles will be produced out of the South Carolina location. Those other two plants were a big part of what drew Volvo to bring their newest plant to the Charleston area, which has also attracted the attention of Boeing to host a plant to build 787 jumbo jets that began in 2011.

It seems like foreign companies are beginning to flock to the U.S. to create plants. In the past 20 years, Nissan has created auto plants in Tennessee and Mississippi, while Kia is established in Georgia (which offered a site near Savannah to Volvo), Volkswagen in Tennessee and Alabama now hosting Honda, Mercedes-Benz and Hyundai.

Volvo’s move to South Carolina is more likely an effort to help boost numbers in the U.S. market where they have sold only 56,000 vehicles to American consumers in 2014 for about 0.3 percent of the share in the U.S. market.

Another Company Joins Hot Market of Subprime Autobonds

It seems the demand for bonds backed by financing for car buyers prone to defaulting on loans is continuing to grow, with GFC Lending LLC – which operated as GO Financial – expected to issue about $180 million worth of securities connected with subprime loans submitted through dealers.

According to a report by Bloomberg News, those bonds are backed by about $257 million in loans could be rated as high as “A” by Kroll Bond Rating Agency. GO Financial could be the biggest player in the park and that’s because the organization prides itself on its website “as part of a large enterprise of companies operating in the automotive sales and finance sector.”

drivetime automotive groupThe group was founded four years ago as a unit of DriveTime Automotive Group Inc., which was a used-car seller that had been in the subprime finance business for more than 20 years that was spun off two years later. A 49 percent share of the company was picked up by Cox Enterprises Inc. – which also owns car-related organizations that include Manheim, (which was recently purchased from McClatchy), and Kelley Blue Book.

And while the market for these subprime auto bonds has expanded to $36 billion as of a few months ago – a big jump from the $13 billion in 2010 – which can be partially attributed to the 2008 credit crunch disappearing and the demand for higher-yielding investments from the Federal Reserve.

That doesn’t mean there aren’t losses in the loans, which can range anywhere from 34 to 37 percent in the first deal with Go Financial. It’s much larger than loans through DriveTime loans, which is partly due to the use of a different origination channels and lesser quality borrowers. A good portion of the – about 30 percent – lack the credit scores known as FICOs, which measures consumer credit risk and is a fixture of consumer lending in the U.S.

Issuing these subprime-auto securities in 2015 totals about $9.1 billion despite the rising late payments and non-payments that lead to defaults on the underlying loans, compared with about $8.3 million through the second half of 2014.

Swan River auto dealer: Looking for a used Chevrolet? swan river new and used cars are where you need to be. Check out their website to browse through their selection!

Could Apple be Developing a “Smart Car”

apple smart carWhile Google is focused on developing their self-driving vehicles with about 50 total cars being tested on California roads, it seems Apple is jumping into the automotive industry as well.

In a report published by Business Insider, it appears that Apple – the company that has recently introduced the world’s first “smartwatch” – is toying with the idea of creating their own “smartcar.” The report mentions that Fiat Chrysler chief executive officer Sergio Marchionne recently made a visit to California and met with officials from Tesla Motors, Google and Apple, but Apple seems to be the most serious while not really commenting on their own record.

Business Insider provides additional tidbits for investors proving that Apple could be working on a rumored electric car – including Apple leading a talent search for engineers by offering a $250,000 signing bonus. Apple also has a “secret” development facility in Cupertino, Calif., that includes an area for automotive work and a repair garage.

There have also been speculations about Apple cameras mounted on vans that is expected to possibly be using a mapping software for potential self-driving technology. The company is also hiring “robotics engineers” to work in what they are calling a unique development team in what could be considered an effort that gives the folks at Tesla Motors a run for their money.

Another thing the article notes is that Apple co-founder and former CEO Steve Jobs had admitted his desire to build a car and stating before he passed away that he would have liked “to take on Detroit with an Apple car.”

The question is what would and “Apple car” include for the consumers. It might not work in the same way as a smartwatch or smartphone since lawmakers are concerned about the growing issues of distracted driving. But if it has self-driving capabilities, this could allow passengers and “drivers” to sit back and relax while checking on social media sites and watching their favorite YouTube videos.

Only time will tell, considering that the folks at Google first began working on their self-driving prototypes in 2006 and are still working hard almost a decade later.


Investors Expected to Flock to Lear

The Lear Corporation, which was first formed in 1917, has developed into a leading supplier in the world’s automotive market and could be continuing its growth for several years to come. Their claim to fame has been supplying seating and electrical distribution, such as wireless alarm systems Winnipeg, to almost every global manufacturer, with a total reach that includes about 34 countries.

car montage

Lear has established itself as one of only four suppliers that operates in every major automotive region in the world. For those looking to make a big splash in their stock portfolio, there are several reasons why investors are chattering about this automotive giant as it maintains ties across the global auto market and as the demand for new vehicles grows in 2015, expect a jump on the stock market.

As car dealerships, trucks and SUVs become more complex with new features to meet the consumer demands, so will the complexity of their electrical and wiring systems develop. Which makes a company like Lear more and more popular as demand continues to grow steadily.

According to an article by Forbes, 2014 brought solid gains in revenues and profits with the sales of seating systems increasing by 11 percent year over year (YOY) – electrical sales also saw a 5 percent increase in conjunction. With this, the return on invested capital (ROIC) rose by 17 percent.

Tautomobile lear corphese figures should only expect to increase as we see more development in the world of self-driving vehicles, which will require companies like Lear to continue developing new upgrades to seating and electrical systems because the car will need more and more developments to make these cars to not require humans to be attentive behind the wheel – sensors to know what cars ahead and when the stoplight has changed from red to green.

Think about how the electrical systems necessary for backup cameras required more work and more work by companies like Lear, which is almost a monopoly in that they have such a supply for the demand of new systems to appease the growing expectations that consumers have based on their dreams of one day having flying cars as seen in the Jetsons.

We may be a long way from that happening, there’s still a chance a group like Lear will be ready to assist.

For Yorkton used vehicles check out Yorkton Toyota. The best yorkton dealership!