Category Archives: economy

Korean Auto Sales Surge as Japanese Remain Sidelined

Posted on 3 August 2011 by Ken Zino

Korean auto sales increased sharply in July while Japanese automakers watched as depleted inventories once again cut into their normal sales levels. Korean automakers Hyundai and Kia posted huge gains and a record month. A combination of high fuel economy and low prices – helped by the Korean Won – saw double-digit sales gains at both automakers. Still, several questions remain about the ability of Korean automakers to continue to grow at the significant rates they have been achieving. Continue reading →

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Japanese Sales: Toyota, Honda Down. Nissan up Slightly in July

Posted on 2 August 2011 by Ken Zino

There were varying results for Japanese sales in the U.S. sales race in July with Toyota and Honda posting double digit declines while Nissan increased sales from July of 2010. Overall, the total U.S. light vehicle market grew less than 1% from what was a weak July of 2010 as the economy languishes and unemployment remains above 9%. Continue reading →

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Ford Motor July Sales Up 9% in U.S. Led by Sport Utility Vehicles

Posted on 2 August 2011 by Ken Zino

Ford Motor Company today said its July sales totaled 180,865, up 9% versus a year ago. Sales were led almost entirely by a 31% increase in sport utility sales, as cars (+3%) and pickup trucks (+0.5%) were basically flat compared … Continue reading →

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GM U.S. Sales Increase 8% in July. Cadillac off 26%

Posted on 2 August 2011 by Ken Zino

General Motors dealers in the United States sold 214,915 vehicles in July, an 8% sales gain compared to July 2010. Retail sales for GM’s brands rose 6% for the month compared to a year ago, and were 1% higher than June, as the U.S. economy continues to struggle with slow – or no growth – and high unemployment rates. Continue reading →

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Toyota Posts FY Q1 Loss from Earthquake and Strong Yen

Posted on 2 August 2011 by Ken Zino

Toyota Motor Corporation (TMC) in Japan today said that operating income decreased from ¥211.6 billion to a loss of ¥108.0 billion, while income before income taxes was a loss of ¥80.5 billion yen. This was Toyota’s first quarterly loss in two years as Net income decreased from ¥190.4 billion yen to ¥1.1 billion. Operating income decreased by ¥319.6 billion yen. Continue reading →

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Honda Q1 Barely Profitable as Earthquake Devastates Results

Posted on 1 August 2011 by Ken Zino

Honda’s automobile unit sales totaled 547,000 units, a decrease of 39.2% from the same period last year due to production disruptions in all regions from the Earthquake. Continue reading →

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July Vehicle Sales Stall in U.S. SAAR Projected less than 10 M

Posted on 1 August 2011 by Ken Zino

The sale of new vehicles in the U.S. will be about 11.8 million units in July. This is the third straight month below the 12 million mark as the U.S. economy remains close to reentering a recession. Continue reading →

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President Obama Unveils 54.5 MPG Fuel Economy Regulation for 2017-25. Will it Alter Vehicle Choices and Increase Costs?

Posted on 29 July 2011 by Ken Zino

In a thirteen minute speech in Washington this morning, President Obama revealed his proposal for doubling the fuel economy of vehicles sold in the U.S. by 2025. This proposal, which will apply to cars and light trucks sold during model years 2017 to 2025, establishes a global warming pollution standard of 163 grams of CO2 per mile per new vehicle by 2025—the equivalent of 54.5 mpg if all the improvements are met through actual increases in fuel-efficiency. Continue reading →

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Volkswagen Group Posts Q2 Profit of €3.17 Billion

Posted on 28 July 2011 by Ken Zino

However, the outlook is cautiously hedged: “In view of the global economic challenges, we are well advised to maintain our cost and investment discipline and to further improve our financial strength,” said CFO Hans Dieter Pötsch. Continue reading →

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Small Business Firms Decline Again in the United States

Posted on 28 July 2011 by Ken Zino

These are businesses without paid employees but nonetheless are firms paying income taxes needed to balance the budget. Real estate agents, beauticians and construction contractors are examples of non-employer businesses. Overall, U.S. non-employer businesses generated approximately $837.8 billion in receipts during 2009. Continue reading →

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If Vehicles are So Appealing Why Aren’t they Selling?

Posted on 27 July 2011 by Ken Zino

The J.D. Power survey – financed by automakers – begs the question: if the new cars and trucks are so bloody enticing why is the U.S. auto market stuck in the doldrums? Continue reading →

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Ford Motor Q2 Profit Drops 8% to $2.4 Billion on $4.2 Billion Revenue Increase. Ford Credit, all Regions Except N.A. Decline

Posted on 26 July 2011 by Ken Zino

Ford’s second quarter net income was affected by so called “unfavorable special items” of $272 million – $177 million more than a year ago. The special items include personnel reduction actions as Ford continues to retrench. The closing of Mercury and other dealer-related actions in North America, as well as pension settlements in Belgium also negatively affected the results. Continue reading →

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Debt Causes U.S. Treasury to Suspend Reinvestment in Exchange Fund. Last Stopgap Measure Taken before Default

Posted on 15 July 2011 by Ken Zino

The fund is a crucial financial tool because it includes purchasing or selling foreign currencies to stabilize international financial markets and thereby prevent damage to U.S. exports and the national economy.

Automakers had no immediate comment, but the uncertainty surrounding the effects of a default on U.S. debt – potentially turning the “almighty dollar” into a third world currency – has left executives cautious about predicting sales for the remainder of the year. U.S. sales declined in June for the second straight month. Continue reading →

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Passenger Car Sales Down in EU Again as Economy Struggles

Posted on 15 July 2011 by Ken Zino

However some winners are emerging. Volkswagen Group remains the powerhouse in Europe with 23% share year-to-date of the EU and European Free Trade Areas. BMW group also posted strong double digit gains, as did Nissan, although both are on relatively small basis. The same could be said for Hyundai and Kia, which now have combines sales of more than 345,000 units year-to-date, compared to Volvo’s 138,000. Continue reading →

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Volkswagen Group Posts Record Sales for First Half of 2011

Posted on 15 July 2011 by Ken Zino

The Volkswagen Group said today that it delivered more vehicles in the first six months of 2011 than eve before. A total of 4.09 million vehicles were delivered from VW, Škoda, Seat, Audi, Bentley and Porsche to customers worldwide from January to June of this year. Continue reading →

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