Market expands for Canadian-built Can-Am Spyder

Bombardier Recreational Products Inc (BRP) has announced that it is accelerating the worldwide deployment of its Can-Am Spyder roadster, which is now available in five provinces, 35 U.S. states and 20 international markets. "The impact of creating a new category of on-road vehicles is becoming clearer than ever to us," said Chris Dawson, vice-president of Strategic Planning and head of the Spyder program. "Consumer response has far exceeded our expectations and we are therefore proceeding with our market expansion ahead of our initial schedule." The Can-Am Spyder roadster uses two front wheels and one rear wheel to provide the performance of a traditional motorcycle with the stability of a convertible sports car. It is powered by a 106-horsepower V-twin engine with sequential manual or clutchless electronic transmission. International dealerships include Western Europe, South America, Australia, New Zealand and Russia. The roadster's worldwide deployment is scheduled to be completed within the next two years.

Coca-Cola orders 120 hybrid electric trucks

Industrial manufacturer Eaton Corporation has announced that Coca-Cola Enterprises will purchase 120 new trucks in 2008 powered by Eaton's hybrid electric drivetrain systems. The order represents the largest North American commercial order to date for Eaton's hybrid systems, and follows the beverage company's purchase of 20 trucks with Eaton hybrid power systems in 2007. Coca-Cola reported that extensive testing and evaluations found that the hybrid-electric-equipped trucks decreased emissions by roughly 32 per cent, and decreased fuel consumption by up to 37 per cent, as compared to conventionally-powered trucks on the company's current fleet. Coca-Cola also reported lower maintenance costs on the hybrid trucks. "In addition to the environmentally friendly advantages that hybrid vehicles deliver, we are also happy to report that driver acceptance has been highly favourable, especially in high start-and-stop applications," said Dave Leasure, corporate director of fleet procurement for Coca-Cola Enterprises. "The hybrid drive units have been performing very well in communicating with the electronic engines, always giving us the necessary torque and horsepower when it is needed."

Toyota Matrix top prize in Tim Horton’s contest

Toyota Canada has announced that this year's grand prize in the Tim Horton’s Rrroll Up The Rim To Win promotion will be the all-new 2009 Toyota Matrix AWD with Sport Package. "Toyota's popular Matrix was completely redesigned for the 2009 model year, with sensational performance and sporty, distinctive styling," said Stephen Beatty, Managing Director of Toyota Canada Inc. "To celebrate the third year of this exciting partnership between Toyota Canada and Tim Horton’s, we continue to make things better by offering the all-wheel drive Matrix, enhanced with an exciting Sport Package." The Matrix will be featured on all Rrroll Up The Rim To Win cups, on television and radio advertising, on outdoor advertising, and on in-store displays at participating Tim Horton’s locations across Canada and the U.S.

BMW cuts jobs, mostly in Germany

Luxury automaker BMW AG said Wednesday it will cut another 5,600 jobs by the end of 2008, on top of 2,500 other positions that have already been eliminated, as it moves to pare expenses amid a wider cost-cutting program. Speaking to reporters, BMW's head of personnel, Ernst Baumann, said that the jobs being cut include 2,500 full-time and 2,500 temporary workers in Germany, along with 600 other positions abroad, mostly international sales and distribution positions. He said that another 2,500 positions -- all of them temporary -- had already been eliminated, bringing the total number of cuts and planned cuts to 8,100, or 7.5 percent of the company's total work force of almost 108,000, including both permanent and temporary employees. The cuts to its permanent work force amount to 3 percent of 80,000 staffers worldwide.

Chrysler disputes report of $2.7B loss

Chrysler LLC lost about $2.7 billion in the two months after Daimler AG sold controlling interest in the U.S. automaker to a New York private equity firm, Daimler said in its annual report Wednesday. The figure, for the period from Aug. 4 to Sept. 30, 2007, was calculated under international financial reporting standards used in Europe and not under U.S. accounting standards, Daimler said. out $466 million in expenses incurred in the fourth quarter of last year, including Chrysler restructuring costs and costs related to a new four-year contract with the United Auto Workers, Daimler said in its report, filed with the U.S. Securities and Exchange Commission. Daimler reported that for the full year in 2007, Chrysler lost 870 million euros, or roughly $1.2 billion when converted at the euro-to-dollar exchange rate that Daimler reported for the third quarter. It was unclear how much of Chrysler's fourth-quarter results were included in the figure because neither Daimler nor Chrysler would answer questions about the report. The figures, though, give a glimpse into how Chrysler has performed financially since Daimler sold 80.1 percent of the automaker to New York-based Cerberus Capital Management LP in August. Chrysler now is a privately held company and is no longer required to report its earnings. Chrysler, late Wednesday, said, from an operating earnings standpoint, Chrysler was profitable during the two-month period, according to a statement from Chrysler spokesman David Barnas. Barnas said the company believes any differences are attributable to the different accounting standards. Daimler also said in its report that former Chrysler Chief Executive Tom LaSorda received about $18.9 million from Daimler last year, including a roughly $14.3 million payment made after the sale to Cerberus took place. Former Chief Operating Officer Eric Ridenour received about $7.5 million, including a $4.4 million payment made after the sale. Barnas also said the automaker has ample cash and capital dollars to meet its present and future objectives. "Since August and the return of Chrysler as an independent company, we have not only been meeting but in many cases exceeding all key metrics," Barnas said. "We are making the tough decisions for the long-term health of the company."