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Category Archives: results
April Marks Third Straight Month of Declining U.S. Job Growth as Unemployment Remains at an Official and Understated 8%
The struggling U.S. economy added a measly 115,000 jobs last month, the third straight month of declines in job growth. More than 15 million Americans are unemployed or underemployed. This poor performance comes years after Washington declared the recession caused by the reckless and unpunished practices of Wall Street officially over. Continue reading
Posted in AutoInformed Editorial, economy, fools 'n frauds, news, news analysis, people, results
Tagged auto informed, autoinformed.com, automotive news, job creation, job crisis, Ken Zino, obama, romney, unemployment
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Renault-Nissan Take Control of Russian Automaker Avtovaz
Total auto industry volume in Russia last year was 2.65 million vehicles, including light commercial vehicles. Volume in 2012 is expected to be 2.9 million units. The economy went through a bubble and subsequent collapse a few years back, and Lada has been steadily losing share all through the recession. Continue reading
Posted in auto news, economy, manufacturing, milestones
Tagged auto informed, autoinformed.com, automotive news, avtovaz, carlos ghosn, Ken Zino, lada, renault-nissan, russia
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Chevrolet Corvette Goes on Sale in Korea Tomorrow
Chevrolet Corvette, goes on sale for the first time on Friday 4 May in the heretofore government restricted auto market in South Korea. The Corvette Coupe is priced at KRW 86.4 million ($76,399) and a special leather interior package is available at KRW 3 million ($2,653) – a 50% premium over the U.S. price of $50,575. Corvette coupe models are powered by the 430-horsepower (321 kW) LS3 V8. Continue reading
Posted in marketing, milestones
Tagged auto informed, autoinformed.com, automotive news, corvette, Ken Zino, Korean fta, south korea
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Chevrolet and Prince Fielder Give Kids a Pro Baseball Field
Prince, of course, benefited from the Tiger’s family-friendly policy of playing on the Tigers field and taking batting practice and coaching as a kid when his father, Cecil, was tearing the cover off the ball in Detroit. Sort of takes some of the fear out of it when a pitcher is trying to stare you down, if as a kid you’ve been in the cage in a big league park looking at fastballs curves, sliders and brushbacks. Continue reading
Ford Sells Former Visteon Trim Plant to Faurecia
ACH was formed in 2005 to sell or close 23 former Visteon plants. The sale of the Saline, Michigan plant is expected to close in June. Nearly all of the 2,100 mostly UAW employees at the business have been offered employment, Ford said in a statement. Continue reading
Posted in auto news, manufacturing, results
Tagged auto informed, autoinformed.com, automotive components holdings, automotive news, faurecia, Ford, Ken Zino, visteon
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GM Makes $1 Billion in Q1. Down from $3.2 Billion in 2011
GM stock has been trading $22-$23 range, well down from the $33 level of GM’s 2010 initial public offering, to say nothing of what is happening to small investors who subsequently bid the stock – which pays no dividend – up to $39 before reality took hold. Continue reading
Offshore Brands Down Slightly in U.S. Market Share in April
Auto brands from offshore automakers held a 55.3% of the U.S. auto market in April, a slight decrease from a 56.3% in March. In raw numbers this accounted for 654,086 units, compared with 791,169 in March.
This is hardly a ‘Buy American’ trend though, because in the first four months of 2011, foreign-owned brands averaged a strong 55.6% share of the U.S. auto market. Simply put the Detroit Three in spite of the demonstrably best most fuel efficient car offerings in history haven’t laid a glove on the invaders. Continue reading
PBGC, Bendix Reach Settlement, End Litigation over Pensions
Critics of the federal agency say it has been lax and ineffective in protecting pensions. Under today’s settlement, PBGC won’t require Bendix to put up collateral for the remaining $8.4 million in pension liability, provided the company remains financially strong until the end of the year. Continue reading
Posted in auto news, financial results, labor issues, litigation, news analysis, results
Tagged auto informed, autoinformed.com, automotive news, bendix, Ken Zino, knorr-bremse, pbgc, pensions
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Speedway Motorsports, NASCAR Track Owner, Posts Q1 Loss
The entertainment company, which owns many NASCAR tracks including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Infineon Raceway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway and Texas Motor Speedway, is suffering from declining fan attendance and weak corporate sponsorships. Continue reading
Posted in financial results, racing, results
Tagged auto informed, autoinformed.com, automotive news, charlotte, Ken Zino, nyse trk, racing, speedway motor sports
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Hyundai Sales Flat in April as Capacity Constraints Hurt
“Never has a relatively flat sales month felt quite so good,” said Dave Zuchowski, Hyundai Motor America’s executive vice president of national sales. The question facing Hyundai remains how to increase production to find out what is the true demand for its hot selling, highly styled vehicle lines? It has been clear for more than a year now that Hyundai needs another plant, a risk that management has so far been reluctant to take. Continue reading
Posted in auto news, manufacturing, results, sales
Tagged auto informed, autoinformed.com, automotive news, elantra, hyundai, hyundai alabama, hyundai sales, Ken Zino, results, sonata
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Chrysler Group April 2012 U.S. Sales Increase 20% to 141,000
Chrysler Group today reported April U.S. sales of 141,165 units, a 20% increase compared with sales in April 2011 of 117,225 units. It was the comeback car company’s best sales performance in the month of April since 2008 when it was speeding toward bankruptcy and a taxpayer bailout.
During April Chrysler Group recorded its 25th-consecutive month of year-over-year sales gains and its 11th-straight month of sales increases of at least 20%. Based on preliminary sales numbers, Chrysler Group beat the average sales increase for the auto industry for the 14th-consecutive month. Continue reading
Posted in auto news, results, sales
Tagged april sales, auto informed, autoinformed.com, automotive news, chrysler april sales results, Ken Zino, results
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General Motors U.S. April Sales Down 8% in a Growing Market
General Motors Co. (NYSE: GM) today reported April sales of 213,387 vehicles in the United States, a decline of 8% in a month that looks to be running at more than 14 million units on a seasonally adjusted basis, an increase of at least 12%. Buick one again posted a decline, this time -25% at 15,450 vehicles, with the mid-size Regal off -37% at 2,850. The compact and less expensive Verona sold 3,000 sedans. This begs the question whether Buick in particularly, perhaps General Motors overall, has been too aggressive in raising prices to boost profitability. The brands aren’t strong enough and the competition remains formidable. Once again Chrysler posted a 20% sales increase to 141,000 vehicles in April, and my bet is GM and Ford are where the growth is coming from to a large degree. Continue reading
Posted in auto news, results, sales
Tagged april results, auto informed, autoinformed.com, automotive news, buick, cadillac, Chevrolet, gm april sales, gmc, Ken Zino, sales results
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Ford Motor U.S. Sales Drop 5% in April. Car Sales off 11%
Ford Motor U.S. sales decreased 5% in April to 180,350 vehicles, with car sales dropping 11% at 64,790. Fleet sales were 37% of the mix. Overall, Ford Motor Sales were buoyed by trucks and sport utilities, but Ford is now facing a strong challenge from Toyota Motor Sales, which is expected to be up almost 12% in April when Toyota reports later today. Toyota is closing in on Ford’s Number Two U.S. sales ranking. Continue reading
Posted in marketing, news analysis, results, sales
Tagged april sales, auto informed, autoinformed.com, automotive news, ford results, Ken Zino, sales results
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TBC Corporation Acquires Midas in Successful Tender Offer
TBC Corporation today announced that it has completed the acquisition of Midas, Inc. through one of its wholly owned subsidiaries, Gearshift Merger Corporation, with Midas being the surviving corporation. The short form merger was the final step of the acquisition process and follows TBC’s payment for all of the shares validly tendered. Continue reading
Posted in auto news, financial results, results
Tagged auto informed, autoinformed.com, automotive news, insider trading, Ken Zino, midas, sec, takeover, tbc
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Honda Q4 Profit up 61%, but Fiscal Year Down
Now that production has resumed, and the all important North American and Asian markets are recovering, Honda predicted record global vehicle sales of 4.3 million vehicles – up from 3.1 million – for this fiscal year and a profit of ¥ 470 billion. Continue reading
Posted in auto news, financial results, results
Tagged auto informed, autoinformed.com, automotive news, Honda results, Ken Zino, results
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