Category Archives: results

New Auris, aka Corolla, in UK Production. Hybrid U.S. Bound?

What’s interesting about the Auris is its 1.8-liter hybrid powertrain; Burnaston was the first automobile factory in Europe to build a mainstream hybrid vehicle – Auris Hybrid in 2010.The 1.8-liter hybrid could easily find its way into a U.S. Continue reading

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Offshore Brands Hold Share in U.S. Auto Sales During Stormy October

If there is any weakness in the Detroit Three, it remains passenger cars. Not one Chrysler, Ford or GM car occupied a spot on the Top Ten Selling list. This, once again, shows how entrenched Japanese automakers are in the small- and mid-size car segments, which now comprise 73% of the car market, good for total sales of more than 402,000 cars in October of 2012. Continue reading

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GM Ups its Revolving Credit Agreements to $11 Billion

General Motors Company has doubled it revolving credit agreements to $11 billion, up from an existing deal that provided $5 billion dollars, which was negotiated post bankruptcy in October of 2010. The new credit pact contains a $5.5 billion three-year line and a $5.5 billion five-year line that the U.S.’s largest automaker can draw from.

U.S. taxpayers still hold 32% of GM and its common stock pays no dividend, but the agreement helps strengthen the balance sheet ultimately leading the way for a stock sale. Continue reading

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GM Sells More Than 250,000 Vehicles in China – an October Record

General Motors and its communist government required joint ventures sold 251,812 vehicles in China, a record for the month of October. Sales were up 14% on an annual basis, as GM’s major brands in China reached new highs for the month in the world’s largest auto market. GM is the largest automaker in the Chinese market. Continue reading

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American Suzuki Bankrupt. North American Sales to Cease

American Suzuki Motor Corporation is seeking Chapter 11 bankruptcy protection for its U.S. auto business with the intention of ceasing the sale of vehicles in the U.S. In October of 2012, Suzuki sold just 2,039 of small cars and light trucks or 0.018 % of the U.S. retail auto market. Continue reading

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Ford, University of Michigan Hunt Smelly Microbes in Auto Interiors

Ford Motor Company and University of Michigan Researchers are studying microbes in automobiles that spread over interior surfaces causing discoloration and odors. Ford wants to know where microorganisms grow to develop antimicrobial additives for its coatings on interior surfaces. Continue reading

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Toyota Makes $3.2 Billion Because of Sales Increases, Cost Cutting

Toyota Motor Corporation in Japan this morning reported Q2 Japanese fiscal year revenues of ¥5.4 trillion ($68.4 billion *), up 18.2% and operating income of ¥340 billion ($4.3 billion) vs. ¥75.4 million last year. Net income was up 220% to ¥257.9 billion yen ($3.2 billion). As a result, Toyota increased the dividend on its stock to ¥30 per share, Continue reading

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Chinese Auto Industry Initial Quality at All Time High

Chinese automakers made large improvements in initial quality during 2012, narrowing the gap between domestic and international brands. As a result, the auto industry in the world’s largest auto market set a record low in overall average problems per vehicle. Continue reading

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Hyundai and Kia Caught in EPA Mileage Rating Fraud

The U.S. Environmental Protection Agency (EPA) today announced that Hyundai Motor America and Kia Motors America will lower their fuel economy (mpg) estimates for the majority of their model year 2012 and 2013 vehicles after EPA testing found “discrepancies” between agency results and data submitted by the company. The fraud produced mileage claims that could be as much as 6 mpg higher than EPA tests showed. About 900,000 vehicles are affected in the largest mileage scam to date. Continue reading

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General Motors U.S. Sales Increase 5% in October

General Motors Company today reported October sales in the United States of 195,764 vehicles, an increase of 5% compared to October 2011. Overall industry growth was 7% for the month, and the industry is running at a seasonally adjusted annual rate or SAAR of more than 14 million retail units. GM’s year-over-year sales to retail customers were up 7%, and sales to fleet customers were down 2%. Continue reading

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Ford Motor U.S. Sales Flat in October – Second Month on Hold

Ford Motor Company posted weak sales of 168,456 total vehicles in October, unchanged from a year ago in an industry that grew more than 8%. Retail sales were up 2% compared to last year. It was Ford’s second straight no-growth month of the year. Continue reading

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Chrysler Group U.S. Sales Up 10% in October

Chrysler Group today reported U.S. sales of 126,185 units, a 10% increase compared with sales in October 2011 (114,512 units) It was the Group’s best October sales since 2007, and it appeared inline with industry growth of 8% based on preliminary numbers. Continue reading

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Ally Financial Repays $2.9 Billion of FDIC Debt

Ally Financial today announced it has repaid $2.9 billion in debt issued under the FDIC’s Temporary Liquidity Guarantee Program (TLGP). The bank holding company issued this debt on 30 October 2009 with a maturity date of 30 October 2012. The final Ally debt guaranteed under the TLGP will be repaid in December 2012 and totals $4.5 billion. Continue reading

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General Motors Posts Q3 Profit of $1.5 Billion, off -$200 Million. Ideologues Out in Full Force for Halloween and the Election

General Motors Co. (NYSE: GM) today announced third quarter net income of $1.5 billion, a drop of -$200 million from the same period in the prior year. This works out to $0.89 per share including special items, which reduced net income by $100 million and cut earnings per share by $0.04. In the third quarter a year ago, GM’s net income was $1.7 billion or $1.03 per share. The results represent a turnaround especially in view of Q1 of 2009 when GM lost almost -$10 per share.

In spite of wild claims – critics say deliberately false – from the repudiated Republican right about the auto bailout, GM is not going bankrupt. GM’s debt-to-equity ratio is only 25% of the overall auto industry average, and it now has more than $37 billion in liquidity. GM in the context of the current travails of the global auto industry is performing reasonably well. Continue reading

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Fiat Group Doubles Q3 Profit to €286 Million. Revenue €951 Million

The Fiat Group in Turin today recorded a Q3 profit of €286 million or $371 million (2011 €112 m) as Chrysler earnings in North America offset losses in Europe. Without Chrysler, Fiat would have lost -€281 million in the quarter. Continue reading

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