Category Archives: results

Global Sales of Toyota Motor Hybrid Vehicles Pass 5 Million

“We had to develop a hybrid system from scratch, making our task extremely difficult,” said TMC Vice Chairman Takeshi Uchiyamada, who was responsible for development of the first-generation Prius, the world’s first mass-produced hybrid passenger vehicle. Toyota had been excluded from participating in a multi-billion dollar U.S. Government program that subsidized the national labs and GM, Ford and Chrysler to develop 80 mpg cars. The so-called partnerships for a New Generation of Vehicles ended in failure with no cars other than a few prototypes produced. Continue reading

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GM China Sales Set April Record

Last month, Buick debuted a concept version of its upcoming Riviera revival at the Shanghai Motor Show. Continue reading

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Treasury to Sell 242 Million Shares of General Motors Common

To recover the full loan Treasury would have to sell the remaining GM shares at more than $77. GM is currently trading at ~$32 per share. This means that taxpayers will take a loss on the bailout of GM. Continue reading

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Cadillac Matches New Car Warranty on Used Cars

In a move that reflects a growing industry trend of expanding warranty and maintenance plans, Cadillac today matched its new vehicle warranty on certified used cars. Continue reading

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Detroit Three Truck Sales Hurt Offshore Brands in April

The Detroit Three automakers posted impressive April sales gains, hurting foreign brands, the result of a revived truck market, as well as stumbling by giants Toyota, Hyundai, Kia and Volkswagen. In a market that was up 8.5% overall year-over-year to 1.285 million vehicles, according to AutoData, light truck sales rose 15%. The winners were located in Auburn Hills, Dearborn and Detroit because of their commanding share of the traditional pickup truck and SUV markets. With 634,000 light trucks sold, only 252,000 were from offshore brands. Continue reading

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GM Q1 Earnings Drop 14% to $0.9 Billion. North America Weak. Europe Weaker. Cash Flow -$1.3 Billion

General Motors Company (NYSE: GM) today announced first quarter net income of $0.9 billion, or $0.58 per fully diluted GM share, down from $1 billion in the prior year quarter. The results include a net loss from special items that reduced net income by $0.2 billion, or $0.09 per fully diluted share. Continue reading

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Chrysler, Ford, GM Post Double Digit April Sales Gains

The Detroit Three all had strong U.S. sales during April, recording levels not seen since the housing market collapse and the Bush Great Depression took hold during the last decade. Continue reading

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Volkswagen Group Q1 Profit Drops as Europe Mars Results

Volkswagen Group profits decreased to €2.3 billion in Q1, down from a record €3.2 billion a year earlier. Global deliveries increased by 4.8% to 2.3 million vehicles worldwide as the Group’s share of the passenger car market rose year-on-year to 12.6% from 12.2%. Continue reading

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Fiat Group Posts Slim €31 Million Profit in Q1

The Fiat Group in Turin today posted Q1 profits of €31 million or about $40 million with revenues of €20 billion from worldwide shipments of more than 1 million vehicles. Continue reading

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Chrysler Group Q1 Profits Drop to $166 million

Chrysler Group today reported its 2013 Q1 results of $166 million in profits on revenue of $15.4 billion, off 6% from $16.4 billion one year ago. Continue reading

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Subaru Recalls Forester for Pedal Interference

Subaru is recalling more than 10,000 2014 model Forester vehicles because the carpeted floor mats were not manufactured properly and can interfere with the gas, accelerator, brake or clutch pedals. Continue reading

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GM files SEC Paperwork to Ease Share Sales

GM said in a statement that is not currently aware of any specific plans regarding an offering by any selling shareholders. When selling shareholders make an offering during the next three years, the terms would be established at the time of offering and described in a prospectus supplement filed with the SEC. GM will not receive any of the proceeds of sales of common stock or warrants by the selling shareholders in the shelf registration statement. Continue reading

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Daimler Group Q1 Earnings Drop Based on EU Crisis

Daimler AG [DAI] posted a significant drop in Q1 earnings largely because of the ongoing economic slowdown in Western Europe where sales are running at a 20-year low. The Q1 EBIT of €917 million was less than half of Q1 … Continue reading

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EU Commercial Vehicle Sales Drop -10% in March, -11% Q1

The UK, currently mourning Prime Minister Margaret Thatcher and which has resolutely stuck to the Pound, was the only major area to post growth at +7.7%. Continue reading

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Ford Motor Posts Q1 Profit of $2.1 Billion

The Ford Motor profit of 41 cents per share was $147 million lower than a year ago as results in Asia were weak because of ongoing expansion; weaker still in South America because of currency problems in Venezuela and Argentina, as well as competition, and frankly disastrous in Europe where Ford has not been able to stem a flood tide of red ink for decades. Continue reading

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