Automotive News

International LoneStar Named 'ATD Commercial Truck of the Year'

2009-04-19T15:37:00.001-04:00

International LoneStar Named 'ATD Commercial Truck of the Year'

WASHINGTON, April 19 /PRNewswire-USNewswire/ -- American Truck Dealers (ATD) today named the International LoneStar the first "ATD Commercial Truck of the Year."

The announcement was made during ATD's 2009 Convention & Exposition in Washington. LoneStar was one of five nominees for the new award. The other nominees were: Freightliner Cascadia, Kenworth T660, Mack Titan, and Peterbilt Model 386.

The LoneStar was chosen by a judging panel of journalists from leading truck publications in North America. It was chosen because of its design, innovation, quiet cab, and space utilization, said past ATD Chairman George Grask, who announced the first annual winner during a luncheon at the Gaylord National Resort & Convention Center.

About International LoneStar

The LoneStar provides driver comfort, serviceability and aerodynamics that deliver improved fuel economy. Inside, the LoneStar offers a work environment that converts to a living space. A fold-down Murphy bed-style bunk allows conversion from a sofa to a full 42-wide bunk with a one-piece spring mattress. The living area is defined by optional hardwood flooring or carpeting and driver's seat with an optional massage feature. Automotive-style features include: Standard ABS, roll stability, traction control and Bluetooth integration for hands-free phone use. The truck can be equipped with 42 different accessories, ranging from lights to shift knobs to chrome.

About the award

ATD announced in October, 2008, that it will recognize the best medium- and heavy-duty trucks by current model year sold in the United States each year with an award. The award, "ATD Commercial Truck of the Year," will be presented each year at the annual ATD Convention and Exposition in April.

Beginning in 2010, there will be two awards: one for the heavy-duty truck (Class 8) and one for the medium-duty truck (Class 3-7). Judging criteria for the award include innovation, design, fuel economy, driver and owner satisfaction, ease of maintenance and safety.

For photos of all the 2009 "ATD Commercial Truck of the Year" nominees, visit www.atd.org.

Founded in 1970, the ATD division of the National Automobile Dealers Association is the only organization representing dealers selling new medium- and heavy-duty trucks in the United States. More than 2,200 members of ATD receive full association services from NADA.

Source: National Automobile Dealers Association

CONTACT: Laura Withers, NADA/ATD Public Affairs, +1-703-760-7578,
lawithers@nada.org

Web Site: http://www.nada.org/

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Profile: automotive-news

2,757.1 MPG Achieved at 2009 Shell Eco-marathon Americas(R)

2009-04-19T01:34:00.001-04:00

2,757.1 MPG Achieved at 2009 Shell Eco-marathon Americas(R)

Student-built, fuel-efficient prototype vehicle achieves highest distance using least amount of fuel

HOUSTON, April 19 /PRNewswire/ -- Distance, not speed, was the goal this weekend on the track at the 2009 Shell Eco-marathon Americas(R), a challenge for students to design, build and test fuel-efficient vehicles that travel the farthest distance using the least amount of fuel. This year, more than 500 students from North and South America were on hand to stretch the boundaries of fuel efficiency. So who came out on top? The student team from Laval University, with an astonishing 2,757.1 miles per gallon, equivalent to 1,172.2 kilometres per liter, won the grand prize in the "Prototype" category. And in the "UrbanConcept" category - new to the Americas event this year - the team from Mater Dei High School took the grand prize by achieving 433.3 mpg, equivalent to 184.2 km/l.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-a )

(Photo: http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-b )

(Photo: http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-c )

With 44 participating teams at track competition was steep. This year's challenge brought together a number of returning teams determined to beat the 2,843 mpg (1,208 km/l) record set by Mater Dei High School (Evansville, Ind.) in 2008, combined with a number of new teams adding fresh innovation and vehicle designs to the competition.

"We knew coming into the challenge this year that we would have a lot to go up against," said David Vallee of Laval University. "But we had confidence in our vehicle and all the hard work that had gone into building it over the past year. We're just excited the long hours paid off and we were able to win the 2009 Shell Eco-marathon Americas!"

"The Shell Eco-marathon is a platform for students to let their imaginations run wild," said Mark Singer, global project manager for the Shell Eco-marathon. "By encouraging these students to build vehicles with greater energy efficiency, we hope this will help inspire others; and together we can find solutions that will help meet the global energy challenge."

This year, student teams were invited to participate in either the Prototype or UrbanConcept categories. For the Prototype category, teams entered futuristic prototypes - streamlined vehicles focused on maximizing fuel efficiency through innovative design elements, such as drag reduction. For the UrbanConcept category, teams entered more "roadworthy" fuel-efficient vehicles. Aimed at meeting the real-life needs of drivers, these vehicles are closer in appearance to the cars seen on roads today. For both categories, teams could use any conventionally available energy source - including fuels such as diesel, gasoline and liquid petroleum gas (LPG), as well as alternative fuels such as hydrogen, biomass and solar.

The 2009 Shell Eco-marathon Americas roster contained 44 teams from six high schools and 29 universities from North and South America, including Brazil, Canada, Mexico and the United States. Additionally, a guest team from India joined the roster with their Prototype vehicle.

The Prototype entries included 28 vehicles powered by combustion engines, five by fuel cell/hydrogen technology, three by LPG, three by solar power, and two by diesel fuel. The UrbanConcept entries included two vehicles powered by combustion engines and one by solar power.

Category winners for the 2009 Shell Eco-marathon Americas include:

Prototype
Grand Prize - Combustion Engine

With mileage of 2,757.1 mpg (1,172.2 kilometers per liter) the Alerion Supermileage team from Laval University in Quebec, Canada won a US$5,000 grand prize with their vehicle, NTF 3.0.

Fuel Cell/Hydrogen

The Penn State University team from University Park, Pa. achieved 1,912.9 mpg (813.2 km/l) in its Blood, Sweat & Gears vehicle.

Solar Power

The Purdue Solar Racing team from Purdue University took first place with its solar vehicle, Pulsar, which achieved 4,913 mpg (2,088.7 km/l).

UrbanConcept
Grand Prize - Combustion Engine

With mileage of 433.3 mpg (184.2 kilometers per liter) the Mater Dei Supermileage Team from Mater Dei High School in Evansville, Ind. won a US$5,000 grand prize with their vehicle, Street Buggy.

Special Awards for the 2009 Shell Eco-marathon Americas

Achieving the best fuel economy in a category wasn't the only way to win at the 2009 Shell Eco-marathon Americas. Teams were also given the opportunity to compete for one or more Special Awards, including:

Eco-Design Award

A special "Eco-Design Award" was presented to the UCLA team for their Prototype design. Their special design not only contributed to the fuel efficiency of their vehicle, but incorporated recycled and eco-friendly materials into the vehicle and production process.

Safety

The "Safety Award" recognized three teams who made the most extensive efforts to comply with the safety regulations of the Shell Eco-marathon Americas. This award went to UNAM (Universidad Nacional Autonoma de Mexico), Grand Rapids Technical School and Loyola Marymount University. These teams all demonstrated safety as a top priority in vehicle designs and construction.

Technical Innovation

This award was presented to three teams who demonstrated outstanding initiative and technical ingenuity along with optimal use of new materials in the drive train, chassis, instrumentation and tires. First prize was awarded to Rose-Hulman Institute of Technology, second prize to Purdue University and third prize to California Polytechnic State University.

Design

The 2009 Shell Eco-marathon Americas "Design Award" was presented to the Brazilian team from Minas Gerais State University. This award recognized their innovative design research related to ergonomics, aesthetics, choice of materials and technical feasibility. The originality and overall coherence of their design were also taken into account.

Communications

This award recognized the Dalhousie University team from Canada, who made outstanding communications efforts concerning the Shell Eco-marathon. All actions throughout the year are taken into account: participation at trade shows, creation of a Web site and all other activities that successfully promote the competition, its name, its founding principle, its educational aspects, etc. in the team's country of origin.

Best Team Spirit

The "Best Team Spirit Award" was presented to the George M. Schurr High School team who fostered cooperation and collaboration among their team and others at the competition. Not only did they demonstrate initiative to learn more about other teams and contribute to the morale at the competition, they lent a tire to another team and helped a team in need whose car wasn't ready to compete by loaning them one of their vehicles to participate in the challenge.

Perseverance in the Face of Adversity

The "Perseverance in the Face of Adversity Award" was presented to two teams - Chitkara Institute of Engineering & Technology in India and Louisiana State University. Both teams overcame many obstacles in order to make it to the Shell Eco-marathon Americas - the team from India not only traveled a very far distance to participate in the event, they also battled many issues with their vehicle, and the team from LSU overcame the loss of a team member, who passed away last year. The team dedicated their Shell Eco-marathon project to this team member, even naming their vehicle after her, Ellen.

The 2009 Shell Eco-marathon Americas event sponsors included Autodesk, Michelin, Pennzoil and SKF USA Inc. Event photos, complete results and videos are available at www.shell.com/ecomarathon. And for more information contact the Shell Media Line at 713-241-4544. For b-roll, visit www.badertv.com/09ecomarathon via login "shell," password "news."

Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America's leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell, a leading oil and gas producer in the deepwater Gulf of Mexico, is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of the Shell Group, a global group of energy and petrochemical companies, employing approximately 104,000 people and operating in more than 110 countries and territories.

Disclaimer statement

This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''intend'', ''may'', ''plan'', ''objectives'', ''outlook'', ''probably'', ''project'', ''will'', ''seek'', ''target'', ''risks'', ''goals'', ''should'' and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this Report, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group's products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading conditions. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this presentation, May 4, 2006. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.

The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as "oil in place" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575 and disclosure in our Forms 6-K file No, 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

Photo: http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-b
http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-c
http://www.newscom.com/cgi-bin/prnh/20090419/DA01236-a
AP PhotoExpress Network: PRN2
AP PhotoExpress Network: PRN3
AP PhotoExpress Network: PRN4

Source: Shell

CONTACT: Ashley Heather of Shell, +1-713-241-4544

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Profile: automotive-news

Keanu Reeves Wins Celebrity Category of 2009 Toyota Pro/Celebrity Race

2009-04-18T21:34:00.001-04:00

Keanu Reeves Wins Celebrity Category of 2009 Toyota Pro/Celebrity Race

"King of the Beach" Al Unser Jr. is Overall and Professional Winner

LONG BEACH, Calif., April 18 /PRNewswire/ -- It was auto racing at its most thrilling as actor Keanu Reeves prevailed over a highly competitive group of stars of film, television and sports to win the Celebrity Category of the 2009 Toyota Pro/Celebrity Race. "The King of the Beach," six-time Toyota Grand Prix winner Al Unser, Jr., finished first among all drivers and won in the Professional category, followed closely by NASCAR Camping World Truck Series champion Johnny Benson.

Despite enjoying the lead for most of the race, world champion pro skateboarder Danny Way's hopes of gliding into Victory Circle were dashed when he and Fonzworth Bentley, host of MTV's "From G's to Gents," mixed it up in the ninth lap, giving Reeves the opening he needed to cross the finish line in his race-ready Scion tC only seconds before E! Entertainment Television's Executive News Editor Ken Baker and comedian Carlos Mencia.

Actress/singer Raven Symone was the first of the drivers to discover - the hard way - how difficult the 1.97-mile street circuit through the downtown streets of Long Beach can be to navigate, but the plucky Disney star remained as upbeat after the race as the jovial Mencia, who surprised everyone with his third-place finish among the Celebrities.

It was Reeves, however, who claimed to be "in shock" at his triumph. "It is such a great feeling," said the new celebrity champ after the race. "Bentley and I had been going at it for most of the race, but when I got to the last lap and came around the fountain turn I almost couldn't believe it. I figured, 'I'm just gonna go get it.'"

"This field had the crowd cheering through the entire race," said Les Unger, Toyota Motor Sales USA national motorsports manager. "Each of the celebrities and the pros were hungry to take home the trophy this year, and they brought their best to the show. Throughout training and practice, they were intensely focused but they also enjoyed the experience, which is exactly what the Toyota Pro/Celebrity Race is all about."

In the Professional Category, Unser overcame the pros' :30-second handicap by the eighth lap and held off the scrappy Benson and Southern California Toyota Dealer representative Tom Rudnai, president of Longo Toyota in El Monte, Calif., who came in third overall. The 2008 Toyota Pro/Celebrity Race winner, ESPN/ABC pit reporter Jamie Little, came in fifth among the Pros.

Mencia echoed the feelings of the rest of the drivers, concluding by complimenting Unser, saying, "It was humbling to be in this thing with a guy [like Unser] who has dominated this track for so many years, and still he made us feel great about being here, smiling and giving us tips. He was always smiling...even when he passed us on the track he was smiling!"

FINAL RACE RESULTS:

Pos No. Class Name Laps
1 22 Pro Al Unser Jr. 10 21:41.273
2 25 Pro Johnny Benson 10 21:44.001
3 21 President, Longo Tom Rudnai 10 21:46.945
Toyota
4 11 Celebrity Keanu Reeves 10 21:46.973
5 2 Celebrity Ken Baker 10 21:49.423
6 18 Celebrity Carlos Mencia 10 21:50.834
7 24 Pro Coy Gibbs 10 21:54.021
8 26 Pro Jamie Little 10 21:56.190
9 14 Celebrity Tim Daly 10 21:56.296
10 5 Celebrity Adrien Brody 10 21:56.414
11 1 Celebrity Eric Close 10 21:56.579
12 19 Celebrity Auction Annamarie Dean 10 21:59.141
Winner
13 16 Celebrity Auction Doug Fregin 10 22:04.274
Winner
14 8 Celebrity MaryLynn Rajskub 10 22:07.859
15 20 Celebrity Alex Trebek 10 22:11.287
16 6 Celebrity Fonzworth 10 22:14.165
Bentley
17 9 Celebrity Danny Way 9 19:54.669
18 17 Celebrity Raven Symone 4 10:13.596

Toyota will donate $5,000 to "Racing for Kids" in the name of each celebrity racer, and another $5,000 to the winning racer's charity of choice. Racing for Kids is a national non-profit program benefiting children's hospitals in Long Beach and Orange County, Calif. Toyota has donated $1.7 million on behalf of the race and it participants and various children hospitals since 1991.

Additionally, a $15,000 donation was made in conjunction with the annual "PEOPLE Pole Award." Sponsored by PEOPLE magazine, the award was given to Danny Way, this year's pole-position winner of the Toyota Pro/Celebrity Race qualifying session. Way selected the Action Sports Environmental Coalition (ASEC) as his charity, to support ASEC's mission of progressive eco-education and empowering people to adopt a sustainable lifestyle. Way is hoping the funds generated by the "PEOPLE Pole Award" will enable ASEC to build a "green" skate park for kids in Hawaii.

The Toyota Pro/Celebrity Race will be broadcast on Speed Channel next month. (See local listings for time and channel.)

Source: Toyota Motorsports

CONTACT: Dara Cothran, +1-212-367-6814, dara.cothran@eurorscg.com;
Sharon Noot, +1-714-527-7735, sharon@nootinc.com; or Kym Strong,
+1-310-874-2513, Kym_strong@toyota.com

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Profile: automotive-news

Memphis Truck Dealer Richard Sweebe Wins Top Industry Honor

2009-04-18T16:22:00.001-04:00

Memphis Truck Dealer Richard Sweebe Wins Top Industry Honor

WASHINGTON, April 18 /PRNewswire-USNewswire/ -- Richard Sweebe, president and CEO of Diamond Companies in Memphis, Tenn., won the "Truck Dealer of the Year Award," sponsored jointly by Heavy Duty Trucking and the American Truck Dealers (ATD).

Sweebe, one of six nominees, received the award at the opening general session of the 46th annual ATD Convention & Exposition in Washington on April 18. Candidates were selected for business excellence, industry participation and outstanding civil accomplishments by a panel of professors from Indiana University's Kelley School of Business.

Sweebe began his career fresh out of college with International Harvester Co. In 1982, with the help of an International program called Dealcor, he opened his first dealership, Mid-America International Trucks, Inc. From first-day employment of 56 employees (seven are still with the company) and first year sales of just under $20 million, he has grown the company to more than 600 employees and more than $220 million in sales with 17 facilities in 12 cities and four states.

Sweebe attributes much of the company's success to the work ethic he learned while growing up on a farm in Ohio. Sweebe and his wife, Bobbi Jo, now live in Memphis, Tenn. He is a member of the Emmanuel United Methodist Church. He has also been a member of the Memphis Chamber of Commerce since 1982. Sweebe is the chairman of the public safety committee for the Memphis Airport Area Development Corp.

Sweebe has earned several awards, including the Navistar Financial President's Award 15 times in the past 26 years and the International Circle of Excellence Award from Navistar 16 times in the past 26 years. He is a four-time winner of Isuzu Trucks' highest dealer award, the Isuzu Ichiban Award. International Trucks has awarded his dealership the top-level award for excellence across all departments, International Diamond Standards, eight out of eight years.

Source: National Automobile Dealers Association

CONTACT: Laura Withers, NADA/ATD Public Affairs, +1-703-760-7578,
lawithers@nada.org

Web Site: http://www.nada.org/

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Profile: automotive-news

Despite Economic Changes, 'Fundamentals of Business Are Enduring,' Says ATD Chairman

2009-04-18T15:24:00.001-04:00

Despite Economic Changes, 'Fundamentals of Business Are Enduring,' Says ATD Chairman

WASHINGTON, April 18 /PRNewswire-USNewswire/ -- Amidst one of the worst U.S. economic downturns resulting in a decline of commercial truck sales, the chairman of the American Truck Dealers (ATD) today commended his fellow dealers for attending its annual convention in the nation's capital.

"Those of you here today have chosen 'to keep your oars in the water' despite the rip tide that is raging through our industry," said ATD Chairman Kyle Treadway and president of Kenworth Sales Co. in Salt Lake City.

In remarks to attendees at the 46th annual ATD Convention & Expo in Washington, D.C., Treadway encouraged dealers to maintain a positive attitude and prepare for a sales recovery.

"We need to stay close to our customers, close to our suppliers, even close to our competitors, to keep a pulse on the market," Treadway said. "The key word here is 'relationships.' Are you building or reinforcing the links between you and the folks who can change your destiny?"

Treadway pointed to several indicators that suggest a brighter market may be coming: Interest rates are more friendly; consumer and corporate purchasing power has improved; wage pressures have eased; and driver turnover rates have been cut in half.

Although "the world is changing," and the future is unknown, Treadway urged his fellow dealers to remember the fundamentals of the business, such as "the customer is king" and "quality sells" and "people do business with people they like."

In response to the current economic conditions, ATD has set up a free, confidential, one-on-one consulting "hotline" to help dealers handle financial and operational challenges, Treadway said.

For the full text of Treadway's remarks, visit www.atd.org.

Source: National Automobile Dealers Association

CONTACT: Laura Withers, NADA-ATD Public Affairs, +1-703-760-7578,
lawithers@nada.org

Web Site: http://www.nada.org/

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Profile: automotive-news

Pro Skateboarder Danny Way Earns Pole Position in Qualifying in 2009 Toyota Pro/Celebrity Race

2009-04-17T22:17:00.001-04:00

Pro Skateboarder Danny Way Earns Pole Position in Qualifying in 2009 Toyota Pro/Celebrity Race

PEOPLE Magazine Makes "Pole Award" $15,000 to Charity of Top Qualifier

LONG BEACH, Calif., April 17 /PRNewswire/ -- World Champion professional skateboarder Danny Way posted the fastest celebrity qualifying time to earn the pole position in the 33rd annual Toyota Pro/Celebrity Race. Way narrowly beat actor Keanu Reeves and Fonzworth Bentley, host of MTV's "From G's to Gents," across the finish line in his race-ready Scion tC to set up tomorrow's showdown in what has become the world's longest-running, most successful celebrity racing event. "The King of the Beach," six-time Toyota Grand Prix winner Al Unser, Jr., finished first among all drivers and won in the Pro category, followed closely by the reigning NASCAR Camping World Truck Series champion Johnny Benson.

"X-Games champions traditionally do very well in this type of event," said Les Unger, national motorsports manager with Toyota Motor Sales. "Danny, Keanu and Bentley came prepared for the challenge, and their competitive spirit made for a thrilling show. The enthusiasm of all the celebrities and pros, both on the track and off, demonstrates exactly what the Toyota Pro/Celebrity Race is all about."

Going into today's race, Way was given a slight edge over the rest of the field of 18 stars of film, television and sports by professional handicapper Anthony Curtis, president of LasVegasAdvisor.com, who'd been analyzing and handicapping the drivers for weeks. He offers his insights solely for entertainment purposes on www.lasvegasadvisor.com. [There will be no actual wagering on the outcome of the race.]

But it was by no means a lock for the daring Way, who, despite holding the land speed record on a skateboard of 74.5 mph, found racing 10 laps on a 1.97-mile street circuit through the downtown streets of Long Beach in Southern California a little tricky.

"This was different [from skateboarding] and lots of fun," said Way. "I'd done some motorcross before, but here, going fast actually feels safer, with the protective cage and headgear. It was a great race."

As pole-position winner in the qualifying session, Way designated his $15,000 donation in conjunction with the 12th annual "PEOPLE Pole Award" to the Action Sports Environmental Coalition (ASEC). Sponsored by PEOPLE magazine, the award will support ASEC's mission of progressive eco-education and empowering people to adopt a sustainable lifestyle. That goal, noted Way, is achieved through many different programs, each providing an exciting environment in which to learn, and Way is hoping the "PEOPLE Pole Award" will enable ASEC to build a "green" skate park for kids in Hawaii.

Additionally, Toyota will donate $5,000 to "Racing for Kids" in the name of each celebrity racer, and another $5,000 to the winning racer's charity of choice. Racing for Kids is a national non-profit program benefiting children's hospitals in Long Beach and Orange County, Calif. Toyota has donated 1.7 million on behalf of the race and it participants and various children hospitals since 1991.

FINAL QUALIFYING RESULTS:

Pos No. Class Name Laps
1 22 Pro Al Unser Jr. 10 1:47.674
2 25 Pro Johnny Benson 10 1:48.212
3 21 Toyota Dealer Tom Rudnai 10 1:48.263
4 24 Pro Coy Gibbs 10 1:48.840
5 26 Pro Jamie Little 10 1:48.916
6 9 Celebrity Danny Way 10 1:49.002
7 11 Celebrity Keanu Reeves 10 1:49.508
8 6 Celebrity Fonzworth Bentley 10 1:49.945
9 14 Celebrity Tim Daly 10 1:50.405
10 2 Celebrity Ken Baker 10 1:50.893
11 5 Celebrity Adrien Brody 10 1:51.446
12 17 Celebrity Raven Symone 10 1:51.667
13 18 Celebrity Carlos Mencia 10 1:51.746
14 1 Celebrity Eric Close 10 1:51.790
15 19 Auction Winner Annamarie Dean 10 1:51.920
16 20 Celebrity Alex Trebek 10 1:53.297
17 16 Auction Winner Doug Fregin 10 1:54.010
18 8 Celebrity MaryLynn Rajskub 10 1:55.491

Source: Toyota Motorsports

CONTACT: Dara Cothran, +1-212-367-6814, dara.cothran@eurorscg.com;
Sharon Noot, +1-714-527-7735, sharon@nootinc.com; Kym Strong, +1-310-874-2513,
Kym_strong@toyota.com

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Profile: automotive-news

Green Zebra Adventures Kicks Off Exclusive Off-Road Tours in Cabo San Lucas

2009-04-17T19:19:00.001-04:00

Green Zebra Adventures Kicks Off Exclusive Off-Road Tours in Cabo San Lucas

PHOENIX, April 17 /PRNewswire/ -- Green Zebra Adventures, a state-of-the-art adventure tourism company, brings a thrilling off-road tour experience to Cabo San Lucas, offering guests an exhilarating and unforgettable ride through stunning scenery in the amazingly versatile, high-performance TOMCAR(R).

"Green Zebra provides guests with a revolutionary off-road touring adventure unlike anything they've ever experienced before," according to Green Zebra Founder and Chairman Andrew (Andy) Meltz. "Our customized Zebra TOMCARs are designed for durability, ease of use, safety and the ability to tackle any kind of terrain."

U.S.-based Green Zebra Adventures initiated TOMCAR tours in Aruba in 2006, and is now expanding its proven model in Cabo San Lucas with its local operating partner Baja's Activities. "The Green Zebra TOMCARs, marketing programs and overall philosophy elevate the customer experience to a new level and we are excited to be part of it," comments Felipe Barraza, owner of Baja's Activities.

Tour prices begin at $109.00 (USD) for a half-day tour. Guests are picked up at their resort hotels or cruise ships and taken directly to the Green Zebra tour staging area where they receive a thorough overview of the TOMCAR and a detailed safety briefing. After a final safety check of each vehicle by the tour guide, away they go in single file for the first stage of the adventure. Tours vary depending on the local terrain and sightseeing venues. The tour includes a stop for refreshments and recreation such as swimming and snorkeling.

Green Zebra Adventures is a collaboration of 35 years of tourism and marketing experience. The company has spent the last two years refining its programs and tour operations through an exclusive alliance with TOMCAR Ltd. and operating partner agreements in key resort tourism destinations.

For novice or seasoned off-road enthusiasts, adventure seekers, ecotourists or active families, Green Zebra offers an opportunity to enjoy a resort destination in a way few will ever experience. As Andy Meltz puts it: "There is really only one way to earn your stripes, and that is with Green Zebra."

For tour information, videos and additional details visit www.gogreenzebra.com. To learn more about TOMCAR, visit http://tomcar.com/.

Corporate Contact: Stacey Boltz PR Contact: Jerry Cobb
sboltz@epicintl.cnetjerrycobb@actual-media.com
602.329.0876 602.478.0002

Source: Green Zebra Adventures

CONTACT: Corporate Contact: Stacey Boltz, +1-602-329-0876,
sboltz@epicintl.cnet, PR Contact: Jerry Cobb, +1-602-478-0002
jerrycobb@actual-media.com

Web Site: http://tomcar.com/

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Profile: automotive-news

Energtek Requested by Philippines' Government to Provide Sample CNG Lite(TM) Tricycle Conversions in Metro Manila

2009-04-17T16:06:00.001-04:00

Energtek Requested by Philippines' Government to Provide Sample CNG Lite(TM) Tricycle Conversions in Metro Manila

Government Intends to Add Tricycles to its Natural Gas Vehicle Program for Public Transport; Tricycles to be Powered by Natural Gas From the Large Malampaya Offshore NatGas Reserve

NEW YORK, April 17/PRNewswire-FirstCall/ -- Energtek Inc., a world leader in the development of Adsorbed
Natural Gas (ANG) technology, today announced that the Government of the
Philippines has requested that Energtek convert a sample of three-wheel
vehicles ("tricycles") in Metro Manila to operate on natural gas. The
vehicles will be converted utilizing Energtek's proprietary CNG Lite(TM)
system based on ANG technology.

The conversion has been requested by the Department of Energy.
The government agency informed the company of its intention to allow
tricycles to use natural gas resources allocated to the Natural Gas Vehicle
Program for Public Transport (NGVPPT). The NGVPPT, passed in 2002, is a
nationwide program that "aims to enhance energy supply security in the
transport sector through fuel diversification using indigenous natural gas
and to use natural gas as a clean alternative fuel for transport."

The NGVPPT program, which places a strong focus on the Metro
Manila area, has natural gas resources apportioned from the Malampaya Gas
Reserve in Batangas. The Malampaya Offshore Natural Gas Reserve is currently
the Philippines' largest indigenous energy source. For years, the reserve has
been used primarily to generate power for the Metro Manila area. Now the
government seeks to similarly utilize the reserve to supply the motor fuel
energy needs of its largest city's transportation sector.

Executive Secretary of the Philippines, Hon. Eduardo R.
Ermita, has stated, "The government is more than glad to begin converting a
million vehicles to operate on ANG as soon as possible. We are pleased to
work together with Energtek to achieve our goal of providing a clean and
cost-effective solution for small vehicle drivers who are suffering from the
rising costs of gasoline."

Tricycles represent one of the most popular forms of
transportation in the Philippines. These gasoline-powered tricycles are known
to contribute to dangerous pollution levels. Converting the vehicles to
Natural Gas provides a substantial reduction in hazardous emissions and is
cost-effective. Natural Gas costs a fraction of the price of gasoline.

"We are quite pleased to assist the Filipino government in
their quest to provide a cleaner and cheaper motor fuel alternative to oil,"
said Energtek CEO Lev Zaidenberg. "In a metropolitan area with millions of
tricycles as Metro Manila, Energtek's CNG Lite(TM) system can utilize natural
gas to provide significant environmental improvement and cost-benefits for
drivers."

Mr. Zaidenberg added, "The conversion of even half of the
amount mentioned by the Executive Secretary of the Philippines would render
revenues of hundreds of millions of dollars for the conversion systems as
well as hundreds of millions of recurrent yearly revenues for the sale of
Natural Gas.

About Energtek

Energtek develops and applies proprietary low-pressure storage
technology to provide complete well-to-wheel pipeless Natural Gas supply
solutions to industrial consumers and fleets of small vehicles. Energtek's
Natural Gas solutions reduce pollution and alleviate consumer energy costs.
Energtek provides competitive bulk transportation solutions to industrial
users and a profitable alternative motor fuel solution for 2- and 3-wheel
vehicle drivers in Asia. Energtek operates subsidiaries in North America,
Europe, Asia and the Middle East. To learn more about Energtek, visit
http://www.energtek.com

Forward-Looking Statements

This release contains forward-looking statements. All
forward-looking statements are inherently uncertain as they are based on
current expectations and assumptions concerning future events or future
performance of Energtek and its technologies. Readers are cautioned not to
place undue reliance on these forward-looking statements, which are only
predictions. In evaluating such statements, prospective investors should
review carefully all risks and uncertainties, including those identified in
this release and other matters set in material publicly released by Energtek.
These risks and uncertainties could cause actual results to differ materially
from those indicated in the forward-looking statements.

Contacts:

Energtek Inc.
Tel: +1-212-999-6202
IR@energtek.com

Source: Energtek Inc.

Contacts: Energtek Inc., Tel: +1-212-999-6202, IR@energtek.com

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Profile: automotive-news

Study: Ford Surpasses Honda in Initial Quality

2009-04-17T15:17:00.001-04:00

Study: Ford Surpasses Honda in Initial Quality

- Ford surpasses Honda in initial quality and remains in a statistical tie at the top with Toyota.

- Ford's initial vehicle quality improved 5 percent over last year.

- Ford customer satisfaction continues to improve and is equal to Toyota and Honda.

- Ford has five segment leaders: Ford Mustang, Taurus, Taurus X and Ranger, and Mercury Milan.

DEARBORN, Mich., April 17 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE:F), continuing its rapid quality improvement, surpassed Honda in initial vehicle quality for the first time and reached new levels of customer satisfaction with vehicle quality, a new survey shows.

Ford is also statistically tied with Toyota at the top of the industry when it comes to initial vehicle quality, according to the 2009 U.S. Global Quality Research System (GQRS) survey conducted quarterly for Ford by RDA Group of Bloomfield Hills, Mich.

"This is truly a significant accomplishment for us," said Bennie Fowler, Ford group vice president, Global Quality. "Honda and Toyota have claimed bragging rights for years, but now we are seeing our hard work pay off. It's evident in study after study."

The latest GQRS survey measured 2009 model year vehicle initial quality in two categories: the number of "things gone wrong," and customer satisfaction with vehicle quality in the first three months of ownership.

In the first quarter of 2009, Ford, Lincoln and Mercury vehicles saw things gone wrong fall by 5 percent to 1,228 per 1,000 vehicles, significantly better than Honda's 1,422 things gone wrong per 1,000 vehicles and statistically equal to Toyota's 1,150.

In addition, the survey shows that Ford Lincoln Mercury improved two percentage points to 79 percent in customer satisfaction with vehicle quality, which puts Ford's domestic brands in a tie with Toyota and Honda for industry leadership.

"Ford's commitment to quality is really paying off as they continue to rival Honda and Toyota on both initial quality and customer satisfaction with the quality," said Donald Pietrowski, president, RDA Group.

The following models led their respective segments in the survey:
-- Ford Mustang - initial quality and customer satisfaction for sports
cars
-- Ford Taurus - initial quality for large cars
-- Ford Taurus X - initial quality for crossover utilities
-- Mercury Milan - initial quality for midsize cars

-- Ford Ranger - initial quality for compact pickups

The new 2009 Ford F-150 recorded quality levels that equate to less than one problem per vehicle, as did the Taurus, Taurus X, Fusion, Milan, and Edge.

"We are energized by the continuous improvement we are seeing on both initial vehicle quality and customer satisfaction," said Fowler. "This survey validates the hard work and dedication to quality from Ford employees, suppliers and dealers. We will keep the momentum going as we strive to become the clear global quality leader."

The GQRS study is conducted on a quarterly basis with scores assessed from survey responses collected from owners of vehicles purchased within specific short-term time frames.

New vehicle owners are asked to report any defects or issues as well as rate their satisfaction with vehicle quality on a scale of 1 to 10 across an array of vehicle systems and features.

Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 213,000 employees and about 90 plants worldwide, the company's wholly owned brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.

Source: Ford Motor Company

CONTACT: Kristen Kinley of Ford Motor Company, +1-313-337-2786,
kkinley@ford.com

Web Site: http://www.ford.com/

NOTE TO EDITORS: Go to http://media.ford.com for news releases and high-resolution photographs.

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Profile: automotive-news

Kia Motors America, Microsoft Team Up for Dynamic Video Game Marketing Effort

2009-04-17T13:46:00.001-04:00

Kia Motors America, Microsoft Team Up for Dynamic Video Game Marketing Effort

Gaming Enthusiasts Can Win an All-New Kia Soul and VIP Trip to See the Best of E3 as Part of Initiative

- Kia Motors America is first to sponsor E3 coverage on Xbox LIVE

IRVINE, Calif., April 17 /PRNewswire/ -- Kia Motors America (KMA) today announced a comprehensive video game marketing program with Microsoft Corp.'s interactive entertainment platform, Xbox 360(R) and Xbox LIVE(R). Beginning April 18, KMA will launch a national sweepstakes that spans across Xbox.com, Xbox LIVE and several popular Xbox 360 titles offering gamers the chance to drive away in an all-new Kia Soul and receive a VIP, all-expenses paid trip to Los Angeles to attend the best of the 2009 Electronic Entertainment Expo (E3), June 2-4, 2009, the world's premier trade show for computer and video games and related products.

Through the end of April 2009, gamers can enter for a chance to win the grand prize through Xbox.com/Kia or select "Kia Download & Win Gamer Picture" on Xbox LIVE Marketplace. For the first-time, gamers also can enter to win by texting "75920" on their mobile phone to their Gamertag. Additional prizes include a fully-loaded home entertainment system with a 47" HDTV, Xbox 360 Elite console, a one year subscription of Xbox LIVE Gold, 120GB Zune and a one year Zune Pass.

Following KMA's national sweepstakes, the automotive company will launch additional components to its video game initiative in June, including the first-ever sponsorship of E3 coverage on Xbox LIVE. And as the Official Automotive Partner of the NBA, KMA also will sponsor Xbox's NBA Live 09 to coincide with the 2009 NBA Finals in June. Kia's multi-faceted video game marketing program will result in significant cross-platform research driven by Microsoft Advertising.

"By teaming with Microsoft's Xbox 360 platform we have the unique opportunity to connect with gaming enthusiasts at a level never-before-seen in the gaming world," said Michael Sprague, vice president of marketing of KMA. "We are thrilled to team up with Microsoft to give a lucky gamer a Soul urban passenger vehicle, which just arrived in dealerships a few weeks ago and has already received several notable accolades, including an award for the 'Grooviest Interior'."

The agreement was developed on behalf of KMA by Innocean Worldwide Americas, Kia's media strategy partner, who were responsible for stewarding Initiative+, their media agency of record, through the negotiation and activation of the Microsoft initiative.

The all-new 2010 Soul stands out from the crowd with modern, unique styling aimed toward the young and young-at-heart. Designed by Kia Motors' Southern California-based design team, Soul offers a unique combination of style, value and personalization options, including an available Audio Upgrade Package that includes speaker lights that can pulse to the beat of the music or add mood lighting to the interior cabin. Available in four distinctive trim levels, Soul, Soul+, Soul! (exclaim) and Soul sport, Soul pricing begins at less than $14,000 and is on sale at Kia retailers nationwide.

Kia Motors Product Line

Kia Motors America offers a dynamic and diverse product line of 12 vehicles to meet the needs of all lifestyles. The vehicle line features the functional Rondo CUV and award-winning Sedona minivan along with a wide variety of popular passenger cars, including the refined Amanti full-size sedan, purposeful Optima midsize sedan, versatile and compact Spectra and Spectra5, and sporty yet fuel-efficient Rio and Rio5 subcompacts. The vehicle line also features the affordably luxurious Borrego, rugged Sorento and value-packed Sportage SUVs. The 2010 Soul further complements the lineup as it arrives in dealerships, as will the 2010 Forte sedan.

About Kia Motors America

Kia Motors America (KMA) is the marketing and distribution arm of Kia Motors Corporation based in Seoul, South Korea. KMA offers a complete line of vehicles through more than 625 dealers throughout the United States. For 2008, KMA recorded its 14th consecutive year of increased U.S. market share. Kia Motors subscribes to a philosophy of building high value, high quality, safe and dynamic vehicles. Kia Motors prides itself on producing vehicles that are exciting and enabling and evoke the Kia tagline "The Power to Surprise."

Kia Motors America is the "Official Automotive Partner of the NBA." Information about Kia Motors America and its full vehicle line-up is available at its Web site - www.kia.com. For media information, including photography, visit www.kiamedia.com.

Source: Kia Motors America

CONTACT: Alex Fedorak of Kia Motors America, +1-949-468-4813,
afedorak@kiausa.com; or Shelby Hunt of Zeno Group, +1-310-566-3985,
Shelby.hunt@zenogroup.com, for Kia Motors America

Web Site: http://www.kia.com/
http://www.kiamedia.com/

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Profile: automotive-news

Drew Industries Presents Webcast of First Quarter Conference Call on May 5

2009-04-17T13:17:00.001-04:00

Drew Industries Presents Webcast of First Quarter Conference Call on May 5

WHITE PLAINS, N.Y., April 17 /PRNewswire-FirstCall/ -- Drew Industries Incorporated (NYSE:DW), a White Plains, NY-based manufacturer of components for the recreational vehicle and manufactured housing industries, will release its first quarter 2009 financial results after the market closes on Monday, May 4, 2009.

Drew Industries also will host a conference call on Tuesday, May 5 at 11 a.m. ET to discuss its results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. Individual investors, retail brokers and the media are invited to listen to a live webcast of the call on Drew Industries' website at www.drewindustries.com.

Participating in the conference call will be:

Leigh Abrams, Chairman, Drew Industries
Fred Zinn, President and CEO, Drew Industries
Joe Giordano, CFO and Treasurer, Drew Industries

Jason Lippert, President, CEO and Chairman, Lippert Components, Inc. and Kinro, Inc.

About Drew

Drew, through its wholly owned subsidiaries, Kinro and Lippert Components, supplies a broad array of components for RVs and manufactured homes, including windows, doors, chassis, chassis parts, bath and shower units, axles, and upholstered furniture. In addition, Drew manufactures slide-out mechanisms for RVs, and trailers primarily for hauling boats. Currently, from 28 factories located throughout the United States, Drew serves most major national manufacturers of RVs and manufactured homes in an efficient and cost-effective manner. Additional information about Drew and its products can be found at www.drewindustries.com.

Source: Drew Industries Incorporated

CONTACT: Fredric M. Zinn, Drew Industries Incorporated, +1-914-428-9098

Web Site: http://www.drewindustries.com/

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Profile: automotive-news

Frost & Sullivan - Electric Vehicle Subsidy in the UK: Good Intentions, Short on Detail

2009-04-17T13:04:00.001-04:00

Frost & Sullivan - Electric Vehicle Subsidy in the UK: Good Intentions, Short on Detail

LONDON, April 17 /PRNewswire/ -- The UK government subsidies to boost low-carbon transport will not be a significant cost for the Treasury, but at the same time they will not improve the UK's carbon footprint in the first few years of its roll out. The announcement comes as an exciting boost to the UK automotive industry and those European automakers who may wonder whether Electric Vehicles have the necessary political support to be a success. The crucial question however is: will there be enough supply for the demand? Will we have another case of the Tata Nano, where orders for the vehicle have drastically exceeded the 40,000 which will be produced in 2009? What is also interesting is the absence of details in the plan announced and also there being no assessment of the feasibility of supporting a sizeable volume of Electric Vehicles once they are on the road.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

The Supply Issue

There will be a huge supply issue with Electric Vehicles until 2012. It is expected that with the exception of some niche manufacturers like G-Wiz, Tesla, and a few others, only Mitsubishi will have a market ready model available in 2011. Most OEMs like Nissan, BMW and Renault are expected to enter the market only in 2012 and therefore the total volume sales in the UK will be restricted to less than 20,000 units in 2011. If this is the case, the government will be spending less than 100mn pounds Sterling in 2011, assuming the full subsidy of 5,000 pounds Sterling is taken by all consumers. The market will really only pick up in 2013, with real growth coming in 2015, when global sales are forecasted to be around 1.2mn units. Most OEMs, including BMW, are currently in testing phase of their vehicles and at least 3 years away from mass roll out.

The Devil in the Detail

The government scheme also seems to lack clarity on how it will work. Frost & Sullivan expects that 3 in 4 Electric Vehicles sold worldwide in 2015 will be sold using new business models, something similar to how we buy our mobile phones in the UK. Due to the high cost of the battery, Electric Vehicles are expected to be sold with different packages where customers will pay only 20% or 40% of the cost of the battery pack. The remaining cost of the battery and the energy usage will be recovered through a monthly bill. A battery pack for a typical 25KW City Car should cost around euro 1000 per KWh equating to 22,000 pounds Sterling. It is expected that these new business model schemes will invite new players into the market. Utilities will play a major role and also carve themselves a niche position in the market with high profits as seen with the oil companies like Shell and BP. The key decision the government has to make is whether it will fund the capital cost of buying the Electric Car or if it will provide incentives to cover the life cycle of the vehicle.

The government will also need to subsidise the development of Electric Vehicle infrastructure. Currently, about 300 public charging points exist in the UK and these are predominantly in London. For instance, Electromotive joined forces with Renault-Nissan to accelerate the global installation of charging networks in cities, and has been in partnership with EDF Energy since 2007 to build 250 "juice points" in London. To make the Electric Vehicle dream a reality, the UK government needs to ensure the availability of at least 4 charging points per Electric Vehicle in the 1st year, thereafter reducing to 2.5 charging point per EV by the 5th year. It is also required to have fast charging infrastructure in place, possibly including battery swapping stations at a ratio of 1 per 100 Electric Vehicles sold during the 1st year followed by 1 per 1000 Electric Vehicles post 5th year sales. This density of charging station networks will be able to meet the majority of Electric Vehicles owners' charging needs especially when battery technology is improved so Electric Vehicles can travel further on a single charge.

A Step in the Right Direction

A key opportunity for the UK government with Electric Vehicles is to take a lead in the development of battery technology. Incentives could be provided to local manufacturers to encourage them to create and keep jobs in Western Europe instead of moving them to the Far East as this is currently the case. The UK government should also influence the standardisation of batteries and Electric Vehicles infrastructure. As an illustration, today no standard exists for the nominal voltage of the battery, which has led to different manufacturers using different specifications. The battery manufacturers have to make different packs for different customers, thereby wasting a lot of effort and money. Standardisation will have a major effect in significantly bringing down the price of the batteries. Another effort the government should take up is legislating safety and crash norms for Electric Vehicles. A few consumers and OEs have been ambiguous regarding the safety of Electric Vehicles and a common standard from the government agency will provide clear definition.

Frost & Sullivan believes that the future of motoring is Electric and the UK is carving itself a globally competitive position in being the leader in the development and roll out of this technology. The government incentive is important and much needed to boost the adoption as well as make UK the hub of electric evolution.

For further information on Frost & Sullivan's strategic analysis on the Electric Vehicles market in the UK, the rest of Europe and globally, please contact Chiara Carella, at chiara.carella@frost.com.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com/.

Contact:
Chiara Carella
Corporate Communications
P: 0044 (0) 7533017689
E: chiara.carella@frost.comhttp://www.frost.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Frost & Sullivan

CONTACT: Chiara Carella, Corporate Communications of Frost & Sullivan,
0044 (0) 7533017689, chiara.carella@frost.com

Web Site: www.frost.com

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Profile: automotive-news

GMAC Financial Services Declares Dividends on Preferred Membership Interests

2009-04-17T13:03:00.003-04:00

GMAC Financial Services Declares Dividends on Preferred Membership Interests

NEW YORK, April 17 /PRNewswire/ -- The GMAC Financial Services Board of Directors declared quarterly dividend payments on preferred membership interests issued to the U.S. Department of the Treasury and on those issued to GMAC's wholly owned subsidiary Preferred Blocker Inc. The dividends were declared on April 16, 2009 and are payable on May 15, 2009.

Dividend payments declared on the preferred membership interests issued to the U.S. Treasury under the Troubled Asset Relief Program totaled approximately $105.6 million. This consists of a cash dividend of $20 per unit, or a total of $100 million, on the Fixed Rate Cumulative Perpetual Preferred Membership Interests, Series D-1; and a cash dividend of $22.50 per unit, or a total of approximately $5.6 million, on the Fixed Rate Cumulative Perpetual Preferred Membership Interests, Series D-2.

The dividend payment declared to Preferred Blocker Inc. on the Class E Preferred Membership Interests was $28.99 per unit, or a total of approximately $75 million. Preferred Blocker Inc. was established in connection with the settlement of the GMAC private exchange and cash tender offers that were completed in December 2008.

Separately, the Board of Directors of Preferred Blocker Inc. declared a quarterly cash dividend of $17.11 per share, or a total of approximately $44 million, on the 9 percent Cumulative Perpetual Preferred Stock of Preferred Blocker Inc. (Blocker Preferred). This dividend is payable on May 15, 2009 to shareholders of record as of May 1, 2009. As previously disclosed, the interest rate payable has been reduced from 9 percent to 7 percent in accordance with the terms of the Certificate of Designations of the Blocker Preferred. These preferred membership interests were issued to investors in connection with GMAC's private exchange and cash tender offers, which were completed in December 2008.

About GMAC Financial Services

GMAC is a bank holding company with operations in North America, South America, Europe and Asia-Pacific. GMAC specializes in automotive finance, real estate finance, insurance, commercial finance and online banking. As of Dec. 31, 2008, the organization had $189 billion in assets and serviced 15 million customers around the world. Visit the GMAC media site at http://media.gmacfs.com/ for more information.

Source: GMAC Financial Services

CONTACT: Gina Proia of GMAC Financial Services, +1-917-369-2364,
gina.proia@gmacfs.com

Web Site: http://media.gmacfs.com/

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Profile: automotive-news

Details of Ford Motor Company's April 24 Briefing for First Quarter 2009 Financial Results

2009-04-17T13:03:00.001-04:00

Details of Ford Motor Company's April 24 Briefing for First Quarter 2009 Financial Results

DEARBORN, Mich., April 17, 2009 - Ford Motor Company (NYSE:F) will release its first quarter 2009 financial results at 7:00 a.m. EDT, Friday, April 24. The following briefings will be held after the announcement:

At 9 a.m. EDT, Alan Mulally, Ford president and chief executive officer, and Lewis Booth, Ford executive vice president and chief financial officer, will host a conference call for the investment community and news media to discuss first quarter 2009 results.

At 11 a.m. EDT, Peter Daniel, Ford senior vice president and controller, Neil Schloss, Ford vice president and treasurer, and K.R. Kent, vice chairman and chief financial officer, Ford Motor Credit Company, will host a conference call for fixed income analysts and investors.

The slide presentations (listen-only) and supporting materials will be available on the Internet at www.shareholder.ford.com. Representatives of the investment community and news media will have the opportunity to ask questions by phone following the presentations.

Access Information - Friday, April 24
Earnings Call: 9 a.m. EDT
Toll Free: 866-788-0547
International: 857-350-1685
Earnings Passcode: "Ford Earnings"

Fixed Income: 11 a.m. EDT
Toll Free: 866-804-6920
International: 857-350-1666
Fixed Income Passcode: "Ford Fixed Income"

Replays -
Available after 2 p.m. the day of the event through Friday, May 1
www.shareholder.ford.com
Toll Free: 888-286-8010
International: 617-801-6888

Passcodes:
Earnings: 29481628
Fixed Income: 55865600

ABOUT FORD MOTOR COMPANY

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 213,000 employees and about 90 plants worldwide, the company's brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.

Media: Equity Investment
Contact: Bill Collins Community:
1.313.390.4866 Larry Heck
wcollin1@ford.com 1.313.594.0613
fordir@ford.com

Fixed Income Shareholder Inquiries:
Investment Community: 1.800.555.5259 or
Dave Dickenson 1.313.845.8540
1.313.621.0881 stockinf@ford.comfixedinc@ford.com

/PRNewswire -- April 17/

Source: Ford Motor Company

Web Site: http://www.ford.com/

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Profile: automotive-news

Automakers Are Already Reducing CO2

2009-04-17T12:54:00.001-04:00

Automakers Are Already Reducing CO2

WASHINGTON, April 17 /PRNewswire-USNewswire/ -- Dave McCurdy, president and CEO, Alliance of Automobile Manufacturers, released this statement in response to EPA's announcement today to seek comments on its proposed endangerment finding:

"Today, the EPA made an endangerment finding on carbon dioxide (CO2) emissions that will affect all industries in some way. Automakers are ahead of the curve and have already been taking action because we understand that being a successful industry means being part of the low-carbon economy.

"Autos account for 20 percent of man-made CO2 emissions in the U.S. As automakers, we know that our job is to get cleaner, more fuel-efficient technologies on the road quickly. We already offer customers over 130 models that get more than 30 MPG. There are now over 35 models that are hybrids or clean diesel. This is progress, but we are not stopping with today's accomplishments. We're working on new innovations for the future, including vehicles that don't run on petroleum at all.

"The transition to a new way of using energy and new energy sources requires that we collaborate with government and other industries like never before. For new power trains to be successful, a diverse set of high-quality fuels must be available, whether it is biofuels, clean diesel or the electricity grid. Drivers of electric vehicles, for example, will need someplace to recharge while at work or shopping, and our communities will need an adequate supply of low carbon electricity to power all those vehicles. We all need to be planning for the future today.

"In the end, we all share the same goal. Today's administration has the opportunity to reset the debate to address the environment and today's economic realities.

"We are hopeful that the Obama Administration can find ways to bridge state and federal concerns, and move all stakeholders toward an aggressive, national, fuel economy/greenhouse gas emissions program administered by the federal government."

The Alliance of Automobile Manufacturers is a trade association of 11 car and light truck manufacturers including BMW Group, Chrysler, Ford Motor Company, General Motors, Land Rover Jaguar, Mazda, Mercedes-Benz, Mitsubishi Motors, Porsche, Toyota and Volkswagen. For more information, visit the Alliance Web site at www.autoalliance.org.

CONTACT: Wade Newton of The Alliance of Automobile Manufacturers, +1-202-326-5571

Source: The Alliance of Automobile Manufacturers

CONTACT: Wade Newton of The Alliance of Automobile Manufacturers,
+1-202-326-5571

Web Site: http://www.autoalliance.org/

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Profile: automotive-news

FEV, Inc., Raser Technologies Media Briefing, April 20

2009-04-17T12:33:00.001-04:00

FEV, Inc., Raser Technologies Media Briefing, April 20

What: FEV, Inc., Raser Technologies Media Briefing

When: Monday, April 20, 2009, 11:00 - 11:30 am.

Where: FEV Exhibit at Cobo Center, Booth #1425

Who: James Spellman, vice president, Transportation, Raser Technologies, Robert J. Last, VP, Operations and Communications from FEV, Inc., and Jim Taylor, president, Hummer.

Details:

Raser Technologies and FEV, Inc. will unveil the Hummer H3, the first full electric drive SUV, equipped with the Raser's advanced extended-range plug-in series hybrid electric vehicle powertrain and integrated drive system. The vehicle is powered by Raser's E-REV powertrain and was developed in conjunction with Raser's integration partner, FEV and General Motors Corp. The full-size SUV is a four-wheel drive Range-Extended Electric Vehicle (ReEV) designed to achieve over 100 mpg in typical local daily driving with near zero emissions by driving up to 40 miles per day in all-electric mode.

Photo and interview opportunities are available with FEV, Inc. and Raser Technology executives.

Contact: FEV, Inc.
Leah Heidt / heidt@fev-et.com
248-373-6000 or
Marc Harlow / marc@harlowpr.com
Joe Rohatynski / joe@joepr.com
Rohatynski-Harlow Public Relations
517-579-0789

/PRNewswire -- April 17/

Source: FEV, Inc.

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Profile: automotive-news

In 2009, BMW Dealers Will Invest $300 Million in New and Modernized Facilities in the U.S.

2009-04-17T11:19:00.001-04:00

In 2009, BMW Dealers Will Invest $300 Million in New and Modernized Facilities in the U.S.

Dealer investments continue to show strong pace. Since 2000, dealers have invested $2.2 billion to prepare for future growth of BMW in the U.S.

WOODCLIFF LAKE, N.J., April 17 /PRNewswire/ -- BMW dealer investment for the future continues, even in the current economic climate. "Investments from our BMW dealers are proof of confidence in the future success of the BMW brand in the US," Jim O'Donnell, President of BMW of North America, LLC, said. "Today, our network is one of the strongest in the country and we are all working closely together to extend our leading position in the future."

O'Donnell delivered this message on the occasion of the Grand Opening of Rusnak BMW in Thousand Oaks, CA.

Over the last nine years, the BMW network has invested $2.2 billion as part of a comprehensive plan to develop the best facilities of any premium brand. The current $300 million investment continues this direction. By the end of 2009, most of the 338 dealerships will have undergone modernization of facilities. Other openings and expansions in 2009 include BMW Advantage (Houston, TX); Prestige BMW (Ramsey, NJ); JMK BMW (Springfield, NJ); Foreign Motors West (Boston, MA); and Bill Jacobs BMW (Chicago, IL).

In the current demanding and difficult automotive environment, BMW dealers have maintained their strong and stable franchises. "Our dealers have led the way with a stronger emphasis on the used car business and it has helped buffer the consequences of declining new car sales in the US," said O'Donnell. "Early on, we and our dealers recognized this opportunity and the used car business has become an even more important part of our strategy for our US success." O'Donnell also noted this action is bringing new and younger customers into the BMW family, even in the current economic climate.

In 2008, BMW sold more than 104,000 Certified Pre-Owned vehicles (16.4 percent more than 2007), making the brand the largest used vehicle operation within the premium segment and outselling its closest competitor by more than 60 percent. Results from the first quarter of 2009 indicate CPO sales are on track to increase an additional 15 percent for the full year.

Also important is top-of-industry customer retention through BMW's Ultimate Service program that includes a 4-year / 50,000 mile vehicle maintenance plan with the purchase of any new BMW. As a result, through the first ownership period, 97 percent of BMW vehicles have all of their service performed at certified dealers, as opposed to the industry average of about 50 percent, helping to fully utilize BMW dealer service centers.

BMW Group In America

BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, a strategic design consultancy in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all X5 Sports Activity Vehicles and X6 Sports Activity Coupes. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW motorcycle retailers, 83 MINI passenger car dealers, and 30 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for North America, is located in Woodcliff Lake, New Jersey.

Information about BMW Group products is available to consumers via the Internet at:

www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorcycles.com
www.miniusa.com
www.rolls-roycemotorcars.com

Journalist note: Information about the BMW Group and its products is available to journalists on-line at the BMW Group PressClub at the following address: www.press.bmwgroup.com and select "USA" from the list of National PressClubs. Broadcast quality video footage is available via The NewsMarket at www.thenewsmarket.com.

Source: BMW of North America, LLC

CONTACT: Jan Ehlen, Business Communications Manager, +1-201-307-3789,
Jan.Ehlen@bmwna.com

Web Site: http://www.bmwgroupna.com/

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Profile: automotive-news

Edelbrock and The Center for Learning Unlimited Present the 4th Annual Rev'ved Up 4 Kidz Charity Car Show

2009-04-17T11:08:00.001-04:00

Edelbrock and The Center for Learning Unlimited Present the 4th Annual Rev'ved Up 4 Kidz Charity Car Show

TORRANCE, Calif., April 17 /PRNewswire/ -- Edelbrock and the Center for Learning Unlimited are excited to present the 4th Annual Rev'ved Up 4 Kidz charity car show, April 26, 2009 in Torrance, CA. All proceeds from this charity car show support children with learning disabilities.

This family-friendly show takes place Sunday April, 26 at Vic Edelbrock's garage located at 510 Madrid St., Torrance, CA 90501. All makes and models are welcome. Interested participants can pre-register at www.revvedup4kidz.com. Cost for entry is $30.00 (advance) or $35.00 (day of show). Show hours are 10:00 a.m. to 3:00 p.m. and space is limited.

Spectator entry is free and $5.00 donations are accepted. Vendor space is also available; the Rev'ved Up website for details.

The Rev'ved Up 4 Kidz Charity car show will also host to the "Hot Rodders of Tomorrow" Engine Challenge, an engine build competition for auto technology and high school students. This event, presented by Race and Performance Expo, originated in the Chicago, IL area and is now expanding to regional competitions in a bracket style tournament. "This competition is great for all involved," states Edelbrock President, Vic Edelbrock. "It exposes young adults to the excitement and passion of the automotive industry and it gives them the opportunity to achieve real accomplishment. Edelbrock became involved through our friend and business partner, Jim Bingham, whose goal is to grow this competition and cultivate the next crop of automotive industry talent."

"This is really a great event for the entire family. They can see classic and collectible cars, dance to live music by the Sprockets and enjoy great food, while raising awareness and funding for such a wonderful cause," states Christi Edelbrock. "This year's benefit is especially important to the Center for Learning Unlimited to aid in their relocation to a new facility in Torrance, CA. This new location will further expand the support of special needs children and their families."

Information visit: www.edelbrock.com , www.revvedup4kidz.com , www.raceperformanceexpo.com

About Edelbrock

Founded in 1938, Torrance-based Edelbrock Corp. is recognized as one of the nation's premier designers, manufacturers and distributors of performance replacement parts for the automotive and motorcycle aftermarkets.

Source: Edelbrock Corp.

CONTACT: event info, Christi Edelbrock, Vice President of Purchasing,
+1-310-781-2222, christi@edelbrock.com, or editorial and media, Jason Snyder,
Vice President of Marketing, +1-310-781-2222, ext.2915, Jsnyder@edelbrock.com,
both of Edelbrock

Web Site: http://www.edelbrock.com/
http://www.revvedup4kidz.com/
http://www.raceperformanceexpo.com/

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Profile: automotive-news

SIRIUS XM Radio Offers Motorsports Fans Unrivaled Coverage of NASCAR(R), IndyCar(R), Formula 1(TM) and American Le Mans Series Racing

2009-04-17T11:04:00.001-04:00

SIRIUS XM Radio Offers Motorsports Fans Unrivaled Coverage of NASCAR(R), IndyCar(R), Formula 1(TM) and American Le Mans Series Racing

With the most recent addition of IndyCar(R) to "Best of XM" on SIRIUS, all four racing disciplines are available for first time to both SIRIUS and XM listeners

SIRIUS XM, the leader in motorsports, is the only place to get live coverage of every NASCAR, every IndyCar(R), every Formula 1(TM) and every American Le Mans Series race

Listeners from coast to coast get access to 145 auto races

NEW YORK, April 17 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (NASDAQ: SIRI) will provide listeners from coast to coast with unparalleled coverage of the world's greatest auto racing series with live coverage of every NASCAR race, every IndyCar(R) Series race, every Formula 1(TM) race and every American Le Mans Series race.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

Recently, SIRIUS XM announced that all IndyCar(R), Formula 1(TM) and American Le Mans Series races will be available to both SIRIUS and XM listeners in 2009, joining NASCAR races, which have been available to both SIRIUS subscribers and XM subscribers since October, 2008. With IndyCar(R) season kicking off earlier this month, all four seasons are now in full swing and are available to both SIRIUS and XM listeners.

SIRIUS XM Radio is the only media outlet to air every event from all four of these auto racing series, giving motorsports fans around the country access to the world's best racing on oval tracks, road course tracks and street circuits.

This weekend's live race coverage includes five world class events:

Friday, April 17, 9:00pm ET: Basha's Supermarkets 200 NASCAR Nationwide
Series race
Phoenix, AZ - SIRIUS 128 / XM 128 ("Best
of SIRIUS")

Saturday, April 18, 7:00pm ET: Tequila Patron American Le Mans Series at
Long Beach
Long Beach, CA - SIRIUS 126 / XM 242

Saturday, April 18, 8:00pm ET: Subway Fresh Fit 500 NASCAR Sprint Cup
Series Race
Phoenix, AZ - SIRIUS 128 / XM 128 ("Best
of SIRIUS")

Sunday, April 19, 3:00am ET: Formula 1 Chinese Grand Prix
Shanghai, China - SIRIUS 126 / XM 242

Sunday, April 19, 4:00pm ET: IndyCar Series Toyota Grand Prix of Long
Beach
Long Beach, CA - XM 145 / SIRIUS 212
("Best of XM")

"For the first time, every race from all the major auto racing series in the world -- 145 events in total -- is available on one radio," said Scott Greenstein, SIRIUS XM's President and Chief Content Officer. "No one else, on TV or radio, offers that kind of access. No matter where you live or what you are a fan of - the fender-to-fender racing of NASCAR, the speed of IndyCar, the precision of Formula 1, or the endurance of American Le Mans Series - SIRIUS XM is the clear choice for motorsports enthusiasts."

As the Official Satellite Radio Partner of NASCAR, SIRIUS XM broadcasts every NASCAR Sprint Cup Series, NASCAR Nationwide Series and NASCAR Camping World Truck Series race live on SIRIUS NASCAR Radio, available nationwide on SIRIUS channel 128 and on XM channel 128 with the "Best of SIRIUS" programming package. As part of the coverage of Sprint Cup Series races, SIRIUS XM also offers additional Driver2Crew Chatter(TM) channels that allow fans to follow team strategy by listening in to the in-car communications between drivers and pit crews. For more info visit www.sirius.com/nascar.

SIRIUS XM will broadcast every IndyCar(R) Series race live on XM channel 145 and on SIRIUS channels 211/212 as part of the "Best of XM" package, including the 93rd Indianapolis 500 at Indianapolis Motor Speedway on May 24. Motorsports fans will hear pre-race programming, including interviews and commentary, as well as live wheel-to-wheel action on the track. Throughout the season, fans can also tune in to Indy Racing Weekly, the exclusive weekly show focused on the IndyCar(R) Series with expert analysis, race highlights and interviews, on XM channel 145 and SIRIUS channel 211 (part of the "Best of XM"). For more info visit www.xmradio.com/irl.

Racing fans can tune in to hear every American Le Mans Series race of the season on SIRIUS channel 126 and XM channel 242. Both channels are available with the SIRIUS and XM subscriptions. The American Le Mans Series is North America's premier sports car series, featuring high-tech cars from the most prestigious automobile manufacturers in the world -- including Acura, Aston Martin, Audi, BMW, Mazda, Porsche, Corvette, Ferrari and Panoz -- competing in a combination of endurance and sprint races on road racing tracks as well as street circuits in major urban markets. Races feature exotic, open-top prototypes and sophisticated production-based Grand Touring (GT) cars all competing on the track at the same time. For more info visit www.xmradio.com/alms.

As the exclusive North American radio broadcaster of all Formula One(TM) (F1) races, SIRIUS XM will carry the entire 2009 calendar of races live from the Australian Grand Prix on March 29 through the Abu Dhabi Grand Prix on November 1. Multiple replays will follow the live broadcast. F1(TM) races air nationwide on SIRIUS channel 126 and XM channel 242. Both channels are available with the SIRIUS and XM subscriptions. The FIA Formula 1 World Championship(TM) season of 17 races, known as Grands Prix, is run on road course circuits, and in a few cases on closed city streets, around the globe. The results of each race are combined to determine two annual World Championships, one for drivers and one for constructors (teams).

SIRIUS XM's coverage also features an exclusive F1(TM) pre-race show hosted by veteran auto racing journalist Adam Cooper. The SIRIUS Formula 1(TM) Pre-Race Show will lead in to every Grand Prix race, offering listeners the latest team news and information, a recap of qualifying results, driver interviews and an in-depth examination of that weekend's circuit. More info can be found at www.sirius.com/f1.

SIRIUS XM's motorsports schedule is a feature of the extensive European sports programming the satellite radio broadcaster offers. Listeners can also hear world class soccer from the English Premier League, Champions League and Scottish Premier League, plus World Cup skiing events from around the globe.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 19 million subscribers as of December 31, 2008.

SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge(R), The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball(R), NASCAR(R), NBA, NHL(R), and PGA TOUR(R), and broadcasts major college sports.

SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart.

SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic(R) service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving SIRIUS and XM, including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," " are expected to," "anticipate," "believe," "plan," "estimate," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: our substantial indebtedness; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; the useful life of our satellites; our dependence upon automakers and other third parties; our competitive position versus other forms of audio and video entertainment; and general economic conditions. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' Annual Report on Form 10-K for the year ended December 31, 2008 and XM's Annual Report on Form 10-K for the year ended December 31, 2008, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov/). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

P-SIRI

Contact for SIRIUS XM Radio:
Andrew FitzPatrick
SIRIUS XM
212.901.6693
Andrew.Fitzpatrick@siriusxm.com

Photo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO
http://photoarchive.ap.org/
Source: SIRIUS XM Radio

CONTACT: Andrew FitzPatrick for SIRIUS XM Radio, +1-212-901-6693,
Andrew.Fitzpatrick@siriusxm.com

Web Site: http://www.sirius.com/

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Profile: automotive-news

Turning Wheel RV Takes Bold Steps

2009-04-17T11:03:00.001-04:00

Turning Wheel RV Takes Bold Steps

RV Dealership not patiently waiting around for President Obama's Stimulus Plan to take effect and for the economy to rebound

OCALA, Fla., April 17 /PRNewswire/ -- Turning Wheel RV Center ("Turning Wheel RV" or the "Company") (http://www.turningwheelrv.com/), a multi-location recreational vehicle ("RV") dealership in the Southeast, isn't patiently waiting around and hoping for things to get better for the economy and the RV industry. Today, the Company announced that "After a comprehensive review, we have taken what we believe are bold steps to restructure the Company's balance sheet and reformulate its business strategy," stated Marco Martinez, Turning Wheel RV's President.

One such bold step is that on April 9th, 2009, the Company voluntarily entered into an agreement with its Floor Plan financing lender, which allows for the Company to completely reduce its inventory and avoid the cash drain related to operating its business using Floor Plan financing. Floor Plan financing is a loan under which RV dealerships typically borrow money from lenders to purchase inventory from manufacturers for sale to RV buyers. Floor Plan financing can create significant cash shortages for RV dealers due to the requirement to pay down the loan on certain aged units in their inventories despite dwindling sales. As a result of the agreement with its lender, Turning Wheel RV is now positioned to rebuild its inventory without the use of Floor Plan financing. "We believe the agreement with our lender significantly strengthens our balance sheet," Martinez added.

Like most other RV dealerships in the U.S., Turning Wheel's business operations have been significantly affected by the severe economic climate. However, unlike some RV dealerships that have simply given up or others that are bleeding financially while waiting around for the benefits of President Obama's stimulus package and the economy to rebound, Turning Wheel RV decided it had to take bold action to secure its position in the current challenging environment. Earlier this year, the Company engaged the New York-based investment banking firm The Reid Group LLC as advisors to assist the Company with a restructuring and to reformulate its business strategy.

"We are taking steps to rebuild our inventory without floor plan financing and are developing an exciting incentive program for both customers and our sales force," Martinez further stated.

The Company's restructuring of its balance sheet, development and execution of its floor plan financing-free business strategy, and expense reductions, should help Turning Wheel RV weather the current economic storm and reposition the Company for future growth.

About The Turning Wheel RV Center

The Turning Wheel RV Center ("the Company") is a multi-location recreational vehicle dealership with three locations in the Southeast owned by Turning Wheel Holdings, Inc.. In addition to the sale of recreational vehicles, the Company offers its customers RV-related finance and insurance products and quality parts and repair services.

For more information, visit http://www.turningwheelrv.com/

Forward-Looking Statements

Some of the statements contained in this news release that are not historical facts are forward-looking statements. These forward-looking statements include the company's plans, strategies, intentions, and beliefs concerning its business and markets in which it operates. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends" and similar expressions are intended to identify certain forward-looking statements. These statements are based on information currently available to the company and it assumes no obligation to update the forward statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from the forward-looking statements. These risks include, but are not limited to, the company's ability to predict its financial performance, the level of market demand for its services, the highly-competitive market for the types of services offered by the company, the impact of competitive factors on profit margins, market conditions that could cause the company's customers to reduce their spending for its services, the company's ability to create, acquire and build new businesses and to grow its existing business, attract and retain qualified personnel and general market conditions.

Contact:
Mr. Marco Martinez
President
The Turning Wheel RV Center
mmartinez@turningwheelrv.com
Phone: (352) 368-6645

Source: Turning Wheel RV Center

CONTACT: Mr. Marco Martinez, President of The Turning Wheel RV Center,
+1-352-368-6645, mmartinez@turningwheelrv.com

Web Site: http://www.turningwheelrv.com/

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Profile: automotive-news

Mayor Bloomberg Becomes First Big City Mayor to Endorse 'EcoDrivingUSA(TM)'

2009-04-17T10:57:00.001-04:00

Mayor Bloomberg Becomes First Big City Mayor to Endorse 'EcoDrivingUSA(TM)'

Offers City Support for National Fuel Use and CO2 Reduction Program

NEW YORK, April 17 /PRNewswire-USNewswire/ -- The EcoDriving movement added another key supporter as New York City Mayor Michael Bloomberg became the first big city mayor to endorse the initiative. Mayor Bloomberg adds his name to a growing list of elected officials who have announced their support for the program. EcoDrivingUSA was launched in August 2008 at an event with Governor Arnold Schwarzenegger (R-CA), Governor Bill Ritter (D-CO), the Environmental Defense Fund and the Auto Alliance.

"Many motorists may not realize it, but it is easy to drive green - and you don't need to buy a hybrid vehicle to do it," said Mayor Bloomberg. "Through the simple steps of EcoDriving, you can reduce your carbon emissions, prolong the life of your car, and save money at the pump."

By supporting EcoDriving, Mayor Bloomberg is helping to raise awareness of how simple and easy-to-use driving and vehicle maintenance best practices can improve mileage by about 15 percent. If all New Yorkers practiced even moderate levels of EcoDriving, carbon dioxide emissions could be reduced by more than 1.6 million tons annually.

"Mayor Bloomberg recognizes the significant role EcoDriving can play in helping consumers save money at the pump while at the same time reducing greenhouse gas emissions from their automobiles," said Dave McCurdy, president and CEO of the Alliance of Automobile Manufacturers. "His support for this driver-friendly program shows leadership in engaging the citizens of New York City to start driving green. And it emphasizes his commitment to being a part of the comprehensive solution to protect the environment."

EcoDriving produces the highest mileage from every single vehicle, regardless of vehicle size and age, so it offers an unmatched reach in addressing energy and climate issues by potentially affecting the nation's entire fleet of 245 million automobiles. The program's benefits are potentially huge:

-- If just half of all drivers nationwide practiced moderate levels of
EcoDriving, annual carbon dioxide (CO2) emissions could be reduced by
about 100 million tons, or the equivalent of heating and powering 8.5
million households.

-- If all Americans practiced EcoDriving, it would be equal to 450
billion miles traveled on our roadways without generating any CO2
emissions. That's 1,500 CO2-free miles for every man, woman and child
in the United States each year.

"In these tough economic times, practicing EcoDriving makes sense," McCurdy said. "EcoDriving is the perfect program since it helps drivers by allowing them to make their current vehicle more fuel-efficient while also reducing fuel costs and CO2 emissions."

For more information on EcoDriving or to become an EcoDriver, please visit the interactive Web site, www.EcoDrivingUSA.com, which helps drivers learn practical tips for improving their mileage and reducing their carbon footprint. The site includes a video guide to EcoDriving, an "EcoCalculator" to determine benefits for individuals or states, a Virtual Road Test, and a variety of educational tools.

EcoDriving Contact: Charles Territo, 202.326.5523

Mayor's Office Contact: 212.788.2958

Source: Alliance of Automobile Manufacturers

CONTACT: Charles Territo of Alliance of Automobile Manufacturers,
+1-202-326-5523; or Mayor's Office Contact: +1-212-788-2958

Web Site: http://www.ecodrivingusa.com/
http://www.autoalliance.org/

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Profile: automotive-news

BMW Group's up2drive.com Teams With Kelley Blue Book on kbb.com

2009-04-17T10:32:00.001-04:00

BMW Group's up2drive.com Teams With Kelley Blue Book on kbb.com

WOODCLIFF LAKE, N.J., April 17 /PRNewswire/ -- BMW Group Financial Services of North America today announced that up2drive.com has been selected by Kelley Blue Book as its exclusive online lender for the kbb.com Web site. Kelley Blue Book is a leading provider of automotive information including new car prices; car reviews and news; used car Blue Book(R) Values, auto classifieds along with car dealer information and locations.

An automotive financing Web site that features convenient loan services, up2drive.com is designed to empower consumers through every step of the car buying, refinancing and selling process. Launched in the fall of 2007, up2drive.com is a direct-to-consumer lending business unit of BMW Group Financial Services that is backed by the same award-winning customer service that provides automotive loans to BMW Group customers in the U.S.

Qualifying potential buyers researching the purchase and financing of a vehicle on kbb.com can access a direct link to up2drive.com, where they easily can apply and be approved for a loan. Once approved, buyers can use up2drive.com's unique loan process, the drive check(TM), to negotiate with private sellers or auto dealers as if they have cash on hand - saving them valuable time and money.

"Together with kbb.com, we can now provide a new group of automotive shoppers with a convenient way to research financing options with up2drive.com," said Fred Isele, President of up2drive.com.

One of the few companies specializing in direct-to-consumer automotive financing, up2drive.com offers competitive rates, award-winning service, and time-saving tools.

"Working together with up2drive.com we can now provide our millions of vehicle shoppers with a simple and easy way to obtain new and used vehicle financing whether buying from a dealership or a private party," said Damon Bennett, director, business development, Kelley Blue Book. "We strive to work with companies that allow vehicle shoppers to make informed decisions and connect them to their next vehicle and up2drive.com allows us to achieve that goal."

For more information about up2drive.com, please visit: www.up2drive.com

About BMW Group Financial Services

BMW Group Financial Services was established in the U.S. in 1993 to support the sales and marketing efforts of BMW of North America. Since then, the group has expanded to provide service to markets in multiple countries.

BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With approximately $30 billion in serviced assets and 700,000 automotive lending customers, BMW Group Financial Services finances about half of the BMWs sold or leased in the United States. BMW Group Financial Services employs approximately 800 people, including consultants and temporary workers, most of whom are located in the Hilliard, Ohio Customer Service Center.

In 2001, the MINI Financial Services division was established to provide support for the brand's dealer and customer networks by offering various financing and leasing options. Alphera Financial Services was established in 2006 to provide financial services to dealers who are part of the BMW and MINI networks, as well as non-BMW affiliated dealers.

BMW Group Financial Services also offers credit card products through its subsidiary, the BMW Bank of North America. up2drive.com is a division of BMW Bank of North America, a wholly-owned subsidiary of BMW Financial Services NA, LLC. BMW Insurance Agency, Inc., a property and casualty producer, is also part of BMW Group Financial Services.

About Kelley Blue Book (www.kbb.com)

Since 1926, Kelley Blue Book, The Trusted Resource(R), has provided vehicle buyers and sellers with the new and used vehicle information they need to accomplish their goals with confidence. The company's top-rated Web site, www.kbb.com, provides the most up-to-date pricing and values, including the New Car Blue Book(R) Value, which reveals what people actually are paying for new cars. The company also reports vehicle pricing and values via products and services, including software products and the famous Blue Book(R) Official Guide. According to the C.A. Walker Research Solutions, Inc. - 2008 Spring Automotive Web Site Usefulness Study, kbb.com is the most useful automotive information Web site among new and used vehicle shoppers, and half of online vehicle shoppers visit kbb.com. Kbb.com is a leading provider of new car prices; car reviews and news; used car blue book values; auto classifieds and car dealer locations. No other medium reaches more in-market vehicle shoppers than kbb.com.

For more information about BMW Group Financial Services, please visit: http://fs.bmwusa.com/bmwfspulp/

Information about BMW Group products is available to consumers via the Internet at:

www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorradusa.com
www.miniusa.com
www.rolls-roycemotorcars.com

Source: BMW Group Financial Services

CONTACT: Martha McKinley of BMW Group Financial Services,
+1-201-307-4368, martha.mckinley@bmwfs.com

Web Site: http://www.up2drive.com/

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Profile: automotive-news

Plex Online Offers Fixed Asset Tracking for Improved Accuracy, Decision Making

2009-04-17T10:19:00.001-04:00

Plex Online Offers Fixed Asset Tracking for Improved Accuracy, Decision Making

Features enable manufacturers to better manage property, plant and equipment

AUBURN HILLS, Mich., April 17 /PRNewswire/ -- Plex Systems, Inc., providers of Plex Online software for the manufacturing enterprise, today announced availability of automated fixed asset tracking capabilities. The Plex Online integrated ERP system delivered as a Software as a Service (SaaS) solution lets manufacturers easily track the useful life of office equipment, computer equipment, vehicles and machinery. The system gives a thorough overview of a company's fixed assets at every stage, and provides reliable information for planning new investments.

For many manufacturers, tracking and calculating fixed asset depreciation schedules requires supporting and maintaining standalone accounting system or manual journal entries. Plex Online aggregates depreciation tracking for ease of monitoring on the balance sheet. Plex Online instantly moves fixed asset management data from accounting to the General Ledger for consistency of information and reduced risk of errors caused by manual entry.

Said Mark Symonds, CEO and president, Plex Systems, Inc., "Manufacturers are under tremendous competitive and cost pressures. Now, Plex Online lets these companies see in an instant what costly assets are really worth to improve the processes of procuring, tracking and managing assets. Plus, they no longer need to support a separate asset system and benefit from improved decision making."

About Plex Systems, Inc.

Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for manufacturers. Plex Online offers industry-leading features for virtually every department within manufacturers, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online's fully-integrated model delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run their business at maximum efficiency. Founded in 1995 as Plex Systems, Inc., the company is headquartered in Auburn Hills, Michigan, with customers around the globe. More information is online at www.plex.com.

Plex Systems and Plex Online are trademarks of Plex Systems, Inc.

Source: Plex Systems, Inc.

CONTACT: Peggy Fenwick, Plex Systems, Inc., +1-734-516-6490,
pr@plex.com

Web Site: http://www.plex.com/

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Profile: automotive-news

'Quick Rinse' Bankruptcy for GM: A Pipe Dream?

2009-04-17T09:56:00.000-04:00

'Quick Rinse' Bankruptcy for GM: A Pipe Dream?

Plunkett Cooney to Host Media Call at 11:45 a.m. EDT to Discuss Chapter 11 Scenarios

BLOOMFIELD HILLS, Mich., April 17 Conventional wisdom has General Motors Corp. filing for Chapter 11 bankruptcy in late spring or early summer, emerging from court supervision as a smaller but viable company in as little as two weeks, or two to four months at the outside. Both of these scenarios are exceedingly optimistic, according to bankruptcy experts at the law firm of Plunkett Cooney.

"Bankruptcy may indeed be the last, best option to restructure General Motors because of the multitude of challenges the company faces and its deeply entrenched stakeholders," said Doug Bernstein, head of Plunkett Cooney's Banking, Bankruptcy and Creditors' Rights practice group. "But it's unrealistic to expect that the process will go smoothly and quickly. The company is massive, its operations are complex, and it has thousands of potential claimants and interested parties. The bankruptcy court will require time to make sure everyone's due process rights are respected, even if they have to make painful sacrifices."

"Time is not GM's friend in or out of court," he added. "But the rights and potentially the livelihoods of employees, dealers, pensioners, suppliers and investors are at stake. It will take time for stakeholder groups to form, lawyers to prepare pleadings, a judge to review them and then make decisions. Rushing the process raises the risks that corners will be cut, due process brushed aside and mistakes made. You don't want to get sidetracked by litigation or see GM's 'quick rinse' become a 'rinse and repeat' bankruptcy."

Bernstein noted that in the first two weeks of the Delphi Corp. bankruptcy, nearly 300 individual pleadings were filed with the court. Each one had to be prepared, filed and settled, or argued and adjudicated.

Here's a sample of possible issues:
-- Under the bankruptcy code, a judge may set aside collective bargaining
agreements. However, there must first be good faith negotiations on a
modified contract that have stalled before a company can petition a
judge to reject the original agreement.
-- Similarly, GM can move to void dealer franchise agreements with court
approval. However, it has more than 6,000 dealers who operate under
50 different sets of state franchise laws. Further complicating the
matter, many of the dealers' stores carry multiple GM brands, some of
which may end up in the rumored "good" GM and others in the "bad" GM
whose assets will be liquidated through Section 363 sales.
-- Any person with standing has a right to be heard on any issue before
the court. That would include GM's 377,000 hourly retirees who would
almost certainly object to any effort to curtail their contractual
benefits.
-- Investment funds that hold GM bonds have a fiduciary responsibility to
put the interests of their shareholders first. They won't easily
accept terms they believe undervalue their claims.
-- GM's foreign subsidiaries will act to protect their own interests,
especially in the anticipated division of GM assets.
-- Critical vendor motions will follow the court-granted automatic stay,
which prevents suppliers from trying to collect receivables. In
addition, GM almost certainly will file preference claims to recover
certain payments made to suppliers and vendors during the 90 days
prior to the bankruptcy filing. All of these will take time to sort.
-- Stakeholders must be given notice when decisions are before the court
so they have time to respond. It's not uncommon for overnight express
letters to be sent regarding urgent matters. In GM's case, thousands
of FedEx and UPS letters might be required.
-- A Chrysler bankruptcy filing and liquidation, which is a distinct
possibility, could further complicate GM's ability to restructure
because of the stress it would place on the supplier base, consumer
confidence and the overall economy.

"In many districts, bankruptcy courts are at or near their physical capacity to handle their existing case load and all of the associated filings and claims," Bernstein notes. "A bankruptcy courthouse may be a huge building, but a bankruptcy court - even in Manhattan - typically includes only a judge, secretary, law clerk and possibly a docket clerk. There is no army of judges and clerks that can be mobilized, unless the code is changed and the courts reorganized."

Those who hope for a short stay in bankruptcy for General Motors are assuming that many of the major issues can be pre-negotiated, Bernstein said.

"Even if substantial progress is made between now and the government's June 1 deadline, enough of the pieces probably won't be in place to allow a judge to approve a plan in two weeks," Bernstein said. "If everything goes perfectly, and it rarely does, two to four months is doable. But GM's stay in bankruptcy probably will be longer and more costly than many expect. That's okay if you end up with a better plan and a truly viable company."

About Plunkett Cooney

Established in 1913, Plunkett Cooney is one of Michigan's largest full-service law firms with more than 150 attorneys in nine Michigan cities and Columbus, Ohio. The firm has achieved the highest rating (AV) awarded by Martindale-Hubbell, a leading, international directory of law firms.

Plunkett Cooney Conference Call
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Source: Plunkett Cooney

CONTACT: John Cornwell, Plunkett Cooney, +1-248-901-4008,
jcornwell@plunkettcooney.com; Jim Cain, The Quell Group, +1-248-649-8900,
jcain@quell.com

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Profile: automotive-news

Aisin to Participate at SAE World Congress for 20th Consecutive Year

2009-04-17T09:19:00.001-04:00

Aisin to Participate at SAE World Congress for 20th Consecutive Year

Tier One Supplier Gets Creative; Brings Back famous "Wire Car"

PLYMOUTH, Mich., April 17 /PRNewswire/ -- Aisin World Corp. of America (AWA), one of North America's leading Tier One automotive components suppliers, today announced that it will participate at the 2009 Society of Automotive Engineers World Congress and Exhibition. The event marks the 20th consecutive year that Aisin has participated.

"Despite extreme challenges facing the industry today, we believe supporting SAE World Congress - one of the most important automotive events of the year - is the right thing to do," said Whitsitt.

"Like many other suppliers, we debated whether or not to participate at Congress this year. In the end, we decided to get creative and figure out how we could still make an impact, still support our customers, and still build an exhibit worthy of showing our components - but at a reasonable cost."

Ultimately, Aisin decided to downsize its usual 40' x 50' display area (among the largest of SAE displays) by approximately 80 percent to a 20' x 20' floor plan. The smaller size meant the company had to simplify its exhibit by using just one prominent feature - its famous "wire car," a full-size, skeletal model of a generic vehicle used to display dozens of Aisin components, such as sunroofs, lift gate motors, brake systems, navigation systems, seat adjusters, transmissions, sensors, latches, various electronics and many other parts.

"SAE World Congress for many years has enabled our company and others to put its best foot forward," added Whitsitt. "SAE World Congress is the 'auto show' for Tier Ones, Tier Twos, and others who contribute to the success of our industry. It's up to all of us to support it - how ever possible."

About Aisin World Corp. of America

Based in Plymouth, Mich., AWA is a subsidiary of the Aisin Group, headed by Aisin Seiki Co., Ltd. with corporate offices in Kariya City, Aichi, Japan. The Aisin Group is a worldwide supplier of automotive components, such as brakes, transmissions, drive train, chassis, body and information-related systems and components, and engine-related parts. In North America, the Aisin Group has 32 manufacturing, R & D and sales centers, and approximately 10,000 employees.

Source: Aisin World Corp. of America

CONTACT: Joe Rohatynski, Rohatynski-Harlow Public Relations,
+1-313-378-6570, Joe@JoePR.com; Marc Harlow, +1-810-599-2558,
Marc@HarlowPR.com, both for Aisin World Corp. of America

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Profile: automotive-news