– The Avanti Owners Association International says it has registered its 2,000th member. The association was founded to promote awareness of the Avanti automobile and preserve its history. Studebaker developed Avanti in the early 1960s and produced more than 4,000 in 1963-’64. Since then Avanti has been produced by a variety of private automakers with an estimated 8,300 built since ’63.
– DaimlerChrysler AG has sold its 10.5 percent interest in Korea’s Hyundai Motor Co. for $912 million as the two companies scale back their relationship. D/C bought the stake in Hyundai for $428 million in 2000 as part of a strategy for expanding in Asia. D/C also bought a 37 percent interest in Mitsubishi Motors Corp. in 2000 but has let its stake fall to about 23 percent by declining to invest more money in the Japanese automaker. D/C, Hyundai and Mitsubishi remain involved in other ventures, including global production of a new family of 4-cylinder engines.
– The General Motors-Toyota auto assembly plant in Fremont, Calif., is downsizing its name. Known as New United Motor Manufacturing Inc. since the joint venture was formed in 1984, the plant is now called NUMMI, adopting its acronym as its official name. NUMMI (pronounced “new-me”) builds the Toyota Corolla and Tacoma and the Pontiac Vibe.
