Daimler is reshaping its truck division in North America. The Sterling brand with production and assembly plants in Portland and Ontario will close. Some 3,500 jobs could be affected. Daimler will increase production in Mexico.
Donlen Corporation, global provider of fleet management programs, has announced a strategic alliance with Innovative Funding Services (IFS). IFS will provide financing and title work to facilitate employee sales of Donlen's off-lease vehicles.
Emissions-reducing programs and legislation aren't working at a macro level because few fleets have finances or motivation to "green" trucks, says a recent study. Most small firms can't afford the best compliance technologies, and making those technologies mandatory can put those firms out of business. Any rapid improvements in the sector are likely to happen thanks to the willingness of interested firms.
Several foreign automakers remained on the 2008 Top Global Brands list compiled by Interbrand and BusinessWeek magazine. Toyota ranked highest at #6, and Ford was the only domestic automaker to make the list at #49. Maintaining a strong brand is traditionally important to surviving bad economic times and coming out stronger on the other end.
Auto loans past due 60 days or more are up 11.5% in the second quarter, versus the same period in 2007, according to TransUnion. The credit reporting agency expects auto debt and the delinquency rate to rise as the economic slowdown widens.