Automakers hype hippest models at N.Y. auto show
NEW YORK Battered automakers are unveiling greener, hipper cars at the New York International Auto Show that they hope will satisfy scared buyers, while the company with the most to prove went the farthest Wednesday to show it still has a future.
Chrysler President Jim Press surprised reporters at the automaker's news conference by arriving on stage in an iconic Fiat 500 subcompact. While the company's big unveiling was a new Jeep Grand Cherokee, the attention was clearly on the small car Chrysler could bring to the U.S. if it completes its tie-up with Italy's Fiat Group SpA.
"Don't you think that this would be a perfect car to get around New York City?" he asked the crowd.
The bigger question is whether Chrysler will survive long enough to see the 500 on city streets. The Auburn Hills, Mich., company is surviving on a $4 billion government lifeline with a mandate to reach a definitive deal with Fiat by May 1 and win concessions from its creditors and unions.
"At this point in time with Fiat, we don't see anything that would be an impasse or a deal breaker," Press said.
Other automakers showed off their cleanest, most forward-looking vehicles during opening media previews.
Mercedes-Benz debuted four new vehicles, including a high-performance version of its E-Class sedan and two hybrid models, and Land Rover unveiled a trio of new models. Toyota's Scion brand showcased a concept based on the Toyota iQ microcar, and Acura unveiled the ZDX, a sport sedan Honda's luxury brand said will go on sale this fall.
Carmakers treat auto shows as important venues to attract attention for their latest models, but this year's debuts have had fewer smoke machines and splashy laser shows than in years past. The show comes during a bleak time for the industry, with automakers last week reporting a 37 percent decline in March U.S. sales.
Ford, the only U.S. automaker that has not accepted federal loans, isn't holding a news conference, although its electric-vehicle ambitions and new models like the Ford Fusion hybrid will be on display when the show opens to the public Friday.
General Motors showed off the 2010 GMC Terrain compact crossover vehicle, but Troy Clarke, president of GM North America, nixed plans to speak with reporters at the show so he could stay in Detroit and focus on the company's restructuring.
GM has been surviving on $13.4 billion in government loans since the start of the year, but the Obama administration said last week the automaker hasn't gone far enough to slash its costs and prove it can become viable.
On Wednesday, the White House sent a team of 15 people to Detroit to work with GM over the next two weeks to accelerate its restructuring process, according to an administration official who spoke on condition of anonymity because the discussions are private. Meanwhile, the Treasury Department opened a $5 billion financing program to keep money flowing to GM's and Chrysler's auto parts suppliers in a bid to prevent a disruption in the supply base.
