However, some critics are charging that U.S. calls for renegotiation are an attempt to artificially adjust its market share. U.S. Trade Representatives responded by saying "Yes." [hani.co.kr, The Korea Herald]

Crudele's looking to "rent" the Corvette from All American Chevy in Middletown, NJ by using and abusing GM's 60-day money back guarantee. Good idea right? Yeah, except that — if you'll remember from our guide on how to screw GM out of a 60-day money back guarantee — if he puts so much as a ding, dent or scratch in it, he'll be liable for the full price of the 'vette. Now, we're not saying you should put a ding, dent or scracth into Crudele's new 'merican super car. But we can imagine it'd be pretty difficult to not want to do it if we saw it parked — you know — anywhere.

If anyone spots Crudele, be sure to snap a picture of him and his new Corvette to send in to our tips line — if he ends up actually following through with his dastardly plan to screw himself out of taxpayer-paid bailout money. We'll call it Crudele Corvette Watch. [NY Post]

Here is what he said, specifically, about the $500K limit on executive pay according to Automotive News:

"To find top-level people where you need them, that's a more difficult thing to do at that salary level. I don't think (the caps) will be lifted, but hopefully they'll be modified."

Whitacre's right. We'd imagine it's going to be tough to find really talented people to work at GM for any price — especially with a randomly-derived ceiling. But we think they're going about it the wrong way. GM really should be advertising working for the automaker as a public service. So, you know, do it for America. [Automotive News]

This doesn't mean Chrysler isn't still working on electric cars, but as Kicking Tires points out, they're just not working on the three battery-electric vehicles — the ENVI program — they unveiled to great incredulity at this year's Detroit Auto Show are DOA. [Automotive News, Kicking Tires]

Those new products will include the all-new Toyota Sienna, which was designed in California, engineered in Michigan, and will be built Indiana. Toyota plans to reveal it at the upcoming LA Auto Show. Carter also mentioned a replacement for the Scion TC, as well as the possibility of adding another model to the line, a refreshed Camry, and others. Earnings reports for Toyota will come out Thursday, but expect to see single digit improvements in daily sales rates compared to the last month, single digit declines in the same figure year over year and a 28% improvement quarter to quarter, led by a sales bump from the Cash for Clunkers program. Toyota's expecting growth to continue in the entry-subcompact and subcompact markets and is reaffirming plans for the plug-in Prius at the end of the year, a battery electric by 2012 and a hydrogen fuel cell offering by 2015.

The 800 lb gorilla in the room was of course the litany of bad news for Toyota recently. The floor mat recall problem was the source of much discussion. Carter fielded the questions by referencing the NHTSA studies which are now wrapping up and making note that the conditions which caused the unintended acceleration were largely customer related. Toyota's claiming the problem arises when owners put down incorrect floor mats or multiple mats down which were getting caught up in the accelerator. Carter categorically denied claims like those in ABC News investigation into the situation wherein owners are claiming electrical or mechanical faults led to unintended acceleration. Those claims will have to be proven out independently at NHTSA.

The briefing wrapped up with a bit of levity though. Asked to comment on the strength of the competition, specifically the Hyundai Sonata and Genesis, Carter responded

"I have to be careful on what I say, I don't want you guys writing a story saying 'This Toyota guy thinks the Hyundai Sonata is a great car'"

Take that for what it's worth.

Keep in mind that despite a $997 million profit this quarter, it's an aberration more than a real sign that Ford's fully turned around. First, this big showing comes in large part from Cash for Clunkers — both here in the U.S. and in Europe. Secondly, Ford's still showing a net $573 million loss through the first three months of the year — including special items. NOT including special items, they've lost over $1.3 billion. So, good work by Ford this quarter, but in no way does this signify Ford's out of the water.

And don't even get me started on that SAAR number they're predicting for the rest of 2009 and 2010.

Press release and commentary in the gallery of slideshow pages below.

Look, Ford's saving money by even using only black and white in their slideshows. Good work Ford!

Note those nine month losses on the right...

This is sort of a big deal — Ford's now predicting an industry volume — SAAR — of 12.5 million vehicles they're predicting will be sold here in the U.S. Really? That high? Really? Is someone in a Cash For Clunkers-induced fever dream.

Here's the big number — $1.3 billion in full pre-tax operating losses for the year. Here's the full press release:

FORD POSTS THIRD QUARTER 2009 NET INCOME OF $1 BILLION; CASH FLOW TURNS POSITIVE; NORTH AMERICA PROFITABLE+

* Reported net income of $997 million, or 29 cents per share, an improvement of $1.2 billion from the third quarter of 2008. Pre-tax operating profit totaled $1.1 billion, an improvement of $3.9 billion from a year ago. It is Ford's first pre-tax operating profit since the first quarter of 2008
* Ford North America posted a pre-tax operating profit of $357 million, its first profitable quarter since the first quarter of 2005
* Reduced Automotive structural costs by $1 billion, bringing the total reduction to $4.6 billion through the first nine months of 2009, and exceeding the full-year target of $4 billion
* A strong product lineup drove market share gains in North America, South America and Europe as well as continued improvements in transaction prices and margins
* Ended the quarter with $23.8 billion of Automotive gross cash, up $2.8 billion from the end of second quarter 2009++
* Achieved positive Automotive operating-related cash flow of $1.3 billion for the third quarter, a $2.3 billion improvement over the second quarter
* Ford Credit reported a pre-tax operating profit of $677 million, a $516 million improvement from a year ago
* Ford now expects to be solidly profitable in 2011, excluding special items, with positive operating-related cash flow

DEARBORN, Mich., Nov. 2, 2009 – Ford Motor Company [NYSE: F] today reported net income of $997 million, or 29 cents per share, in the third quarter as strong new products, structural cost reductions and improved results at Ford Credit lifted the company's results despite continued weak global economic conditions. This is a $1.2 billion improvement compared with the same period last year.

Excluding special items, Ford posted pre-tax operating profits totaling $1.1 billion, an improvement of $3.9 billion from a year ago. This marks the company's first operating profit since the first quarter of 2008. On an after-tax basis, excluding special items, Ford posted an operating profit of $873 million in the third quarter, or 26 cents per share, compared with a loss of $3 billion, or $1.32 per share, a year ago.

Ford's North American operations posted a pre-tax operating profit of $357 million, its first quarterly profit since the first quarter of 2005. Ford South America, Ford Europe and Ford Asia Pacific Africa also posted pre-tax operating profits in the third quarter.

"Our third quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy," said Ford President and CEO Alan Mulally. "Our solid product lineup is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger."

Ford's third quarter revenue was $30.9 billion, down $800 million from the same period a year ago. Automotive revenue is up $100 million from a year ago. This improvement was offset by a decrease in Ford Credit's revenue reflecting a decline in receivables.

Ford reduced its Automotive structural costs by $1 billion in the quarter, largely driven by lower manufacturing and engineering costs, which included benefits from improved productivity, personnel reduction actions primarily in North America and Europe, and progress on implementing its common global platforms and product development processes. Through the first nine months, Ford has achieved $4.6 billion in Automotive structural cost reductions, exceeding its full-year 2009 target of $4 billion.

Ford finished the third quarter with $23.8 billion in Automotive gross cash, compared with $21 billion at the end of the second quarter of 2009. Automotive operating-related cash flow was $1.3 billion positive during the third quarter of 2009, an improvement of $2.3 billion from the second quarter 2009. Automotive operating-related cash flow was $3.4 billion negative during the first nine months.

"The Ford team delivered another solid quarter of results with strong contributions from all our business regions," said Lewis Booth, Ford executive vice president and chief financial officer. "Positive cash flow, a stronger balance sheet and a third quarter operating profit are evidence that Ford is meeting the global economic challenges."

The following discussion of third quarter highlights and results are on a pre-tax basis and exclude special items. See tables following "Safe Harbor/Risk Factors" for the nature and amount of these special items and any necessary reconciliation to U.S. GAAP. Discussion of Automotive overall operating cost changes is at constant volume, mix, and exchange, and excludes special items; discussion of Automotive structural cost changes is at constant exchange and excludes special items.

THIRD QUARTER HIGHLIGHTS

* Ford again increased year-over-year market share in North America, South America, and Europe and continued to achieve improvements in transaction prices and margins. Ford maintained market share in the Asia Pacific Africa region and Volvo gained market share. Other sales highlights:
o In the U.S., third quarter market share increased 2.2 percentage points compared to last year as the Ford, Lincoln and Mercury brands all posted sales gains
o Ford Europe's market share was 9.2 percent for the quarter, up 0.6 points from last year and the highest third-quarter level in 10 years. Market share was 10.1 percent in September, the highest monthly share in eight years
o Record growth in China continued as Ford third quarter sales jumped 63 percent
o At the end of the third quarter, worldwide sales of the new Ford Fiesta reached 470,000 units since its launch last fall. The No. 2 best-selling car in Europe posted its highest September sales since 1994. In September, Fiesta also had its best sales month ever in China. Fiesta arrives in the U.S. market in 2010
o Began selling the new Ford Taurus and Transit Connect in North America. Taurus sales in September were up 60 percent from a year ago
o The Ford Focus and Ford Escape were among the top new vehicles purchased in the U.S. government's "Cash for Clunkers" program
o Ford's U.S. hybrid sales have risen 73 percent this year compared to a 14 percent decline in U.S. hybrid industry sales. More than 60 percent of Ford Fusion hybrid sales have come from non-Ford owners
* Began production of the Ford Transit Connect small commercial van at the new manufacturing plant in Craiova, Romania
* Announced investment of $500 million at Ford India's Chennai assembly plant to build the new Ford Figo, a small car targeted at the heart of the Indian market, debuting in 2010
* Announced a new $490 million assembly plant in Chongqing, China, which will be completed by 2012, and will produce the Ford Focus for the Chinese market
* Ford, Lincoln and Mercury brand vehicles in the U.S. had the fewest number of "things gone wrong" among all automakers, according to the third quarter GQRS study of new vehicle quality
* Received $886 million in loans from the U.S. Department of Energy for development of more fuel-efficient vehicles. Ford has been approved for up to $5.9 billion in loans in support of projected expenditures through mid-2012
* Raised $565 million in new equity as Ford completed its previously-announced plan to issue up to $1 billion of equity
* Ford Credit completed $10 billion in funding in the third quarter, including $2.8 billion unsecured, and now has essentially completed its full-year funding plan
* The Ford Taurus and Lincoln MKT both earned a "Top Safety Pick" from the Insurance Institute for Highway Safety. Ford Motor Company continues to have more IIHS "Top Safety Pick" ratings than any other automaker
* Unveiled the all-new Ford C-MAX at the Frankfurt Motor Show. The C-MAX and the Grand C-MAX will debut in Europe in 2010, and the Grand C-MAX debuts in the U.S. in 2011. The new global C-car platform will underpin up to 10 models and more than 2 million units annually by 2012
* Announced that Ford's 1.6-liter and 2.0-liter four-cylinder EcoBoost engines will make their debut in 2010 across Europe, North America, and Australia
* Unveiled the new Ford Figo to compete in India's small car segment beginning in 2010
* Launched the new Ford Fiesta in Taiwan and continued the successful rollout of the Ford Focus and Ford Everest SUV in additional Asian markets
* Revealed the new 2011 Ford F-Series Super Duty and two new powertrains developed by Ford – a 6.7-liter V8 diesel engine and a 6.2-liter V8 gasoline engine
* Began selling the 2010 Ford F-150 SVT Raptor, an off-road performance truck, which captured the "2009 Pickup Truck of Texas" award from the Texas Auto Writers. The Ford F-150 won the overall "Truck of Texas" award, the seventh straight year a Ford truck has earned the honor

Booth, in a statement today says,

"Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand"

Yes, because any time we see a Chinese restaurant offering Swedish meatballs, we think we're getting the heights of culinary delight.

Of course that can't be any worse than when we see Swedish meatballs at Denny's — which, come to think of it, we've been seeing since 1999's sale of Volvo Cars to Ford for $6.45 billion. [via AutoNews]

The report will show that, among American automakers, Ford did the best on the survey achieving an average or better-than-average with 46-of-51 models. This compares to an unimpressive 21-of-48 for GM and a depressing 1-of-26 models for Chrysler. Additionally, in the family sedan reliability category, the new Ford Fusion and Merury Milan are only bested by the Toyota Prius.

It's more good marketing news for Ford, who is already benefiting from the marketing boon of not taking federal bailouts.

[CNBC]

The final price, after the tax credit, is a relatively low $67,800 (relative to the 110K starting price). This coincides with the VIP opening of a Tesla dealership in Boulder — and by VIP we mean Elon Musk's brother. Get them while they're hot. (Hat tip to goatrope!)

[Fox News]

Officials at Nissan's Yokohama global headquarters confirmed today their plans to offer the subcompact, based on a low cost "V platform," after the 2010 model year. The line will include a four door sedan, a five door hatch, and an MPV of some sort and will come in as Nissan's smallest US offering. The Micra will most likely come with a 3-cylinder engine in either gasoline or diesel form and Nissan's making claims it'll get an astounding 50% better fuel economy than the current model. The cost will also get a big cut as they've been hard at work reducing part count and overall complexity. [Auto News Sub. Req.]

You'd think that customers would love free admission, but it turns out that PYP's $2 speed bump was the only thing keeping hordes of tool thieves and generally scurrilous individuals out of the yard. Meanwhile, the employees had that "final days" look about them. Turns out the rumors were correct: Pick Your Part in Northern California is no more. The company website makes no mention of the closings, but only Southern California locations are now listed. Do any of you know the whole story? If so, please enlighten the rest of us.

That's hard for me to take, because I'd been a regular customer at the Hayward Pick Your Part since the mid-1980s, and hard for all the NorCal-based 24 Hours Of LeMons teams who relied on PYP's fast inventory turnover and low prices (generally lower than those at yards owned by powerful national wrecking-yard chain Pick-N-Pull, which is owned by Schnitzer Steel) to keep their heaps running.

The first-ever LeMons Scavenger Hunt took place at the Hayward yard. The Milpitas yard? Well, that's home to the junked Fiberfab Avenger GT-15 you saw earlier today. What will happen to that fine automobile? Straight to The Crusher, or will some lucky Project Car Hell Poster Child take it home?

Considering the design of the platform prostituted cars — the Caliber and Avenger — the brand's currently got, this news is nothing but good. We've already seen what Gilles was able to do with the Chrysler 300C (now long in the tooth, but we can't blame Gilles for the inability to provide cash and a platform for a redesign), the interior of the Dodge Ram and then finally, with one hand tied behind his back with the 2011 Jeep Grand Cherokee, so we've got to believe this is great news for Dodge's non-hauling offerings.

As far as the creation of a new "Ram" brand? That seems rather silly to us, but what do we know, we're not Italian. Full press release below.

Chrysler Group LLC Announces New Appointments

Auburn Hills, Mich. , Oct 5, 2009 - Chrysler Group LLC today announces brand and commercial organization changes.

"The brand-focused strategy has been refined further with the unbundling of the Dodge Brand which now consists of the Dodge RAM Brand and the Dodge Car Brand organizations. This reorganization will allow us to protect and develop the unique nature of the product offerings within the Dodge Brand," Mr. Sergio Marchionne, Chief Executive Officer, Chrysler Group LLC said.

Fred Diaz Jr. is appointed President and CEO, Dodge RAM Brand with profit and loss responsibility for the Dodge RAM product portfolio. Mr. Diaz will also be the lead executive for the Sales organization in the United States. He was previously the Director of the Denver Business Center. Mr. Diaz has been with the Company since 1989 in positions of increasing responsibility. The Company will announce Mr. Diaz's replacement with a separate announcement.

Ralph Gilles is appointed President and CEO, Dodge Car Brand with profit and loss responsibility for the Dodge Car product portfolio. Mr. Gilles will continue to lead the Product Design organization of Chrysler Group which he joined in 1992.

Olivier Francois is appointed President and CEO, Chrysler Brand, with profit and loss responsibility for the Chrysler product portfolio. Mr. Francois joins the Company from Fiat Group Automobiles where he serves as head of the Lancia Brand, a position he retains. Mr. Francois will also be the lead executive for the Marketing organization with responsibility to coordinate worldwide marketing strategies, brand development and advertising for the Chrysler, Jeep®, Dodge Car and Dodge RAM brands. He will continue to lead these functions within Fiat Group Automobiles. Mr. Francois joined Fiat in 2005.

Michael Manley will continue as the President and CEO, Jeep Brand with profit and loss responsibility for the Jeep Brand product portfolio. Mr. Manley will also be the lead executive for the international activities of the Company outside of NAFTA and will be responsible for implementing the co-operation agreements for distribution of Chrysler Group products through Fiat's international distribution network. Mr. Manley has been with Chrysler since 1998.

Joseph Veltri joins the Management Team as Head of Product Planning. Mr. Veltri started with the Company in 1988. His career has included positions in product planning, marketing, business strategy, and finance. He served most recently as Product Planning Lead and Head of Truck/SUV Planning.

Peter Fong, head of the Chrysler Brand has resigned for personal reasons. Michael Accavitti, head of the Dodge Brand has resigned to pursue other interests.

About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat Group, produces Chrysler, Jeep®, Dodge, Mopar® and Global Electric Motors (GEM) brand vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler's culture of innovation – first established by Walter P. Chrysler in 1925 – and Fiat's complementary technology – from a company whose heritage dates back to 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group LLC's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300, Jeep Wrangler and Dodge Ram. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.