REUTERS: Toyota confident in Thailand, invests despite flood

Toyota Motor Corp said on Tuesday it would spend 8.2 billion baht ($257 million) on investment in Thailand, showing its confidence in the Southeast Asian car sector hub despite floods last year that caused severe disruption to the sector.

The Japanese car maker is building a manufacturing plant at Gateway industrial park and restarting a production line at its Thai Auto Works (TAW) plant, where its Fortuners were produced, Kyoichi Tanada, president of the Toyota Motor Thai unit, told a briefing.

Malaysia to Sell Stake in Proton

Malaysia's state investment firm said it will sell its 43% stake in national car maker Proton Holdings Bhd., the latest in a series of government sales meant to spur growth in the important Southeast Asian economy.

The sale, to Malaysian conglomerate DRB-Hicom Bhd. for 1.29 billion ringgit ($412 million), also could also Proton's competitiveness in a crowded Asian auto market.

Ford Says Thailand Floods Prevented Asia Unit From Making Profit

Ford Motor Co. said floods in Thailand caused a 2011 loss for its Asia Pacific and Africa region, preventing the automaker from achieving its goal to be profitable in all its global business units.

“The impact of the Thai floods is a bit bigger than we anticipated,” Ford Chief Financial Officer Lewis Booth told analysts yesterday in a presentation at the Detroit auto show. “We guided in the third quarter that all business units would be profitable for the full year. We now think that’s no longer possible because of the impact of the Thai floods.”

Bosch sells low-tech brakes ops to buyout firm

(Reuters) - Robert Bosch GmbH ROBG.UL, the world's largest car parts maker, is to sell what remains of its low-tech brakes business to KPS Capital Partners, a U.S. buyout firm which one source familiar with the deal said paid around 200 million euros.
Bosch, like other global players in the auto parts markets, wants to focus on more profitable high-tech components, leaving production of more mainstream parts to rivals with a lower cost base.

Tsunami and flood make disastrous year for car sales

NATURAL disasters took the wind out of last year's vehicle market and robbed it of a potential record after tens of thousands of sales were lost, the industry said yesterday.

Australia broke the million mark for only the fourth time last year -- with 1,008,437 vehicles sold -- but the total was 2.6 per cent down on 2010 and more than 40,000 below forecast.

The earthquake and tsunami in Japan and floods in Thailand combined to choke supply while devastated communities from Queensland to Western Australia put a lid on demand, the Federal Chamber of Automotive Industries said, in what was an unprecedented year of "uncertainty and instability".

Nadzmi reveals his plans for Proton

Interesting interview with Proton Holdings Bhd chairman Datuk Mohd Nadzmi Mohd Salleh on his plan of action for Proton, if he were to get the stake from Khazanah Nasional.

Suzuki to Spend Nearly $800 Million to Boost Engine, Automobile Output In Indonesia

Suzuki Motor Corp. (7269.TO) said Wednesday it will build a new engine factory in Indonesia as part of a Y60 billion ($779 million) expansion to increase output of small, four-wheeled vehicles in the fast-growing Southeast Asian market.

"Suzuki Motor Corp plans to invest nearly $800 million to expand its automobile production facilities in Indonesia over the next two years," Soebronto Laras, the president of Jakarta-based PT Suzuki Indomobil Motor, told the Wall Street Journal.