Category Archives: economy

Toyota Reports January Sales up 17%, as it Flings Incentive Gauntlet at Other Automakers with Cash and 0% Interest

Posted on 1 February 2011 by Ken Zino

Loyalty and conquest rates have returned to historical pre-recall levels,” said Bob Carter, Toyota Division group vice president and general manager, Toyota Motor Sales, U.S.A., who went on to say Toyota intends to grow at greater than market rates this year, thus flinging the gauntlet Chevrolet and Ford executives whose brands surpassed Toyota brand in U.S. sales last year. Continue reading →

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Chrysler Group Reports January U.S. Sales Up 23%

Posted on 1 February 2011 by Ken Zino

Chrysler Group LLC today reported U.S. sales of 70,118, a 23% increase compared with sales in January 2010 (57,143 units), and ahead of the overall U.S. market growth of 17%.

Chrysler’s heavy reliance on truck and minivan sales – roughly 75% of total – was a factor as overall truck sales in the U.S. increased 29% in January. Continue reading →

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Ford Motor January U.S. sales up 13%

Posted on 1 February 2011 by Ken Zino

Ford Motor Company reported January sales were 127,317, up 13% from 2009, as the killing of the Mercury brand and a 27% decline in sales to daily rental companies hurt results. Continue reading →

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General Motors January Sales Rise 23%

Posted on 1 February 2011 by Ken Zino

General Motors dealers reported 178,896 total sales in the United States during January, a 23% increase from a year ago for the company’s four brands. Retail sales were 36% higher than January 2009. Continue reading →

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Ally Financial Posts Net Income of $1.1 Billion in 2010

Posted on 1 February 2011 by Ken Zino

Ally Financial Inc. today reported net income of $79 million for the fourth quarter of 2010, compared to a net loss of $5.0 billion for the fourth quarter of 2009. For full-year 2010, Ally (formerly GMAC and now taxpayers own … Continue reading →

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Renault Group Reports €38.97 Billion in 2010 Revenue; Return to Profitability Because of Record Sales of 2.6 Million Vehicles

Posted on 31 January 2011 by Ken Zino

Renault Group has turned around its results, according to a statement issued today by Carlos Ghosn, Chairman and CEO.

“Renault can already announce that, driven by record commercial results in a growing world market and good cost control, the Group has largely exceeded its annual free cash flow objective and reduced net automotive debt to €1.4 billion,” Ghosn said. Continue reading →

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Chrysler Group Posts $652 Million Loss in 2010

Posted on 31 January 2011 by Ken Zino

Chrysler Group LLC today said that it had a total year net loss in 2010 of $652 million, and a net loss of loss of $199 million in Q4 2010, compared to a net loss of $84M in Q3 2010. Debt increased by $0.4 billion in 2010 to $5.8 billion from 2009 as the revision of 16 models increased costs and deceased revenue during their launch. Cash as of 31 December 2010 was $7.3 billion compared to $8.3 billion on 30 September 2010. Continue reading →

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Renault-Nissan Alliance Posts Record 2010 Sales of 7.3 million

Posted on 28 January 2011 by Ken Zino

The Renault-Nissan “Alliance” had a record year with 7,276,398 units sold in 2010, a 19.6% increase over 2009 in a market that grew by 11.8%, Renault today said in a release.

This means that Renault-Nissan Alliance captured 10.3% of the global market in 2010, if you use Renault’s estimate of 70,476,213 vehicles sold during the calendar year. Continue reading →

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Ford Reports 2010 Full Year Net Income of $6.6 Billion

Posted on 28 January 2011 by Ken Zino

Ford Motor Company (NYSE: F) today reported 2010 full year net income of $6.6 billion, or $1.66 per share, an increase of $3.8 billion, or 80 cents per share, from 2009. Continue reading →

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General Motors Declares Quarterly Dividend on Preferred Stock

Posted on 26 January 2011 by Ken Zino

General Motors Company (NYSE: GM, TSX: GMM) today announced that its Board of Directors declared a quarterly dividend of $0.647 per share on its Series B mandatory convertible junior preferred stock. Continue reading →

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Construction of Nissan Leaf Electric Vehicle Battery Plant in Tennessee Well Underway

Posted on 26 January 2011 by Ken Zino

Construction is progressing on Nissan’s manufacturing facility in Smyrna, Tennessee, which will produce lithium-ion batteries for the Leaf electric vehicle. Continue reading →

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Chevrolet Camaro Convertible Goes to Super Bowl XLV MVP

Posted on 25 January 2011 by Ken Zino

Controversy surrounds this years Super Bowl, when it was revealed that women at the Ocean Sky “sweatshop” in El Salvador are paid just eight cents for each $25 NFL T-shirt they sew, according to the National Labor Committee.

Their wages amount to just 3/10ths of one percent of the NFL shirt’s retail price, according to the non-profit pressure group. One wag suggests that this gives a whole new meaning to one Super Bowl team – the Steelers. Continue reading →

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EPA, DOT and California Want Higher Light Vehicle Fuel Economy Rules in Place by September. Jobs Are at Stake

Posted on 24 January 2011 by Ken Zino

The U.S. Department of Transportation (DOT), the U.S. Environmental Protection Agency (EPA) and the state of California today announced a timeframe for proposing what will no doubt be increased fuel economy and lower greenhouse gas standards for model year 2017-2025 cars and light-duty trucks. Continue reading →

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Workers Paid Eight Cents for Each $25 NFL T-shirt!

Posted on 24 January 2011 by Ken Zino

Women at the Ocean Sky “sweatshop” in El Salvador are paid just eight cents for each $25 NFL T-shirt they sew, according a press release just issued by the National Labor Committee.

Their wages amount to just 3/10ths of one percent of the NFL shirt’s retail price, according to the non-profit pressure group with un-posted sources of funding. Continue reading →

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Toyota Number One in 2010 Sales, Beating General Motors

Posted on 24 January 2011 by Ken Zino

In the closely fought global car wars, Toyota Motor Corporation just barely maintained its Number One position in 2010, beating a resurgent General Motors Company, according to sales numbers released today.

Toyota’s worldwide sales in calendar year 2010 tallied 8,418,000, an increase of 8% compared to 2009. General Motors reported that it delivered 8,389,769 vehicles globally, a 12.2% increase from 2009 deliveries of 7,477,178. The third place automaker, Volkswagen group had reported earlier 2010 sales of 7.14 million, a 13.5% improvement from 2009. Continue reading →

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