Inside the industry with Michael McAleer
LID ON BMW PROFITS: Today BMW is expected to show that costs arising from its biggest-ever product offensive offset rising sales and kept a lid on profit growth in the third quarter. The Munich-
based firm is embarking on six launches over the next two years, but has nonetheless said it is on track to post record revenues and profits in 2002. It's expected to post a pre-tax profit of €692 million for the three months to end-September on sales of €9.6 billion, according to analysts. The firm will offer the first BMW-made Rolls Royce from January, and is introducing a new version of its key 5-series saloon next year. A small 1-series, large 6-series coupe and X3 sports utility vehicle (SUV) are on its list of 2004 launches.
DAEWOO REBORN: The world's largest automaker, GM, says its South Korean subsidiary has began producing a new mid-size saloon targetting domestic and foreign markets. The first new model from GM Daewoo has been named the Lacetti. It has a 1.5-litre engine. GM Daewoo said the new car would hit the domestic market from November 5th and Europe in mid-2003. The company opened for business last week following GM's take over of bankrupt Daewoo. The four-door Lacetti was designed by Pininfarina and the five-door hatchback by Giugiaro of Ital Design.
MURRAY'S DUBLIN DATE: That institution of motor sport, Murray Walker (right), is coming to town at the end of the month. At a gala dinner at the Berkeley Court Hotel on Thursday, November 28th, the voice that sunk a thousand motoring careers will be recounting anecdotes on past and present drivers and airing his veiws on the recent changes in the sport. The event is organised by the National Sporting Club of Great Britain. Tickets from Jane Stephenson Associates at 01-2875584 - but, if you can't wait, MOTORS will interview Murray next week.
SEMPERIT SHORTLIST: The first shortlist of 10 cars for the Semperit Irish Car of the Year 2003 has been selected. Out of more than 40 original contenders, the shortlist includes Citroën C3, Fiat Stilo, Ford Fiesta/Fusion, Honda Jazz, Mazda6, Nissan Primera, Opel Vectra, Renault Vel Satis, SEAT Ibiza and Toyota Corolla.
BEST IN BRAZIL: The Stilo, Fiat's mid-size family hatchback has won the Best Car award in Brazil. The prize was awarded by a panel of 14 motoring journalists representing the nine most important states in the country. The Stilo beat off challenges from the Ford Focus, GM Meriva, Toyota Corolla and VW Polo to win the award. Fiat intends to sell some 25,000 Stilos a year in Brazil. The marque is market leader in Brazil, with 26 per cent, just ahead of Volkswagen and GM.
THE TIGHT INSIGHT: The Honda Insight is the most fuel-efficient vehicle sold in the US, according to the US Department of Energy's Fuel Economy Guide for Model Year 2003 report. In addition, the all-new 2003 Honda Accord earned the title of the most fuel-efficient in the "mid-size cars" category. The Insight, equipped with 5-speed manual transmission, earned an estimated economy ratings of 50.8 mpg urban and 56.7 mpg extra urban, according to the US Department of Energy.