Category Archives: results

Airlines Profitable as Passenger Fees Continue to Rise

As part of their third-quarter revenue, the airlines collected almost a billion dollars – $898 million – in baggage fees and $603 million from reservation change fees from July to September 2011. Baggage fees and reservation change fees are the only ancillary fees paid by passengers that are reported to BTS as separate items. Other fees, such as revenue from seating assignments and on-board sales of food, beverages, pillows, blankets, and entertainment are reported in a different category with other items and cannot be identified separately. Continue reading

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Unemployment Unchanged in February as Politicians Blather

Alan B. Krueger – Chairman of the Council of Economic Advisers and an employee of President Obama – said, “Today’s employment report provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression. It is critical that we continue the economic policies that are helping us dig our way out of the deep hole that was caused by the recession that began at the end of 2007, including measures to help the sectors that were most severely harmed by the bubble economy that misdirected investment and created too few durable jobs.”

Critics said only the fact that Krueger issued the statement electronically prevented his nose from growing longer while delivering it. Continue reading

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Volkswagen Group February Sales Up 15%, Europe Weak at 1%

Still, executives are cautious. “We are very satisfied with the Group’s noticeably positive performance. However, we will remain vigilant over the coming months in spite of this clear upward trend and are keeping a very close eye on the markets – especially in Western Europe,” said Christian Klingler, Group Board Member for Sales, in Wolfsburg on Friday. Continue reading

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BMW Group Posts Best Year in History – Ups Dividend

Strong sales of sport utility vehicles and luxury cars, the booming China market and cost cutting were all factors in the blowout year. The BMW Group continues to contradict the conventional wisdom that scale is required to succeed in the global auto industry, since it operates largely in premium segments or gets a premium for its products in other segments. Continue reading

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EPA Says Fuel Economy at Record High, CO2 at Record Low

One giant caveat here: The EPA window sticker rating is not the same as the EPA CAFE rating used by automakers. As a general rule window sticker ratings are 25% lower than the numbers used for CAFE compliance. Moreover, the sticker ratings have been adjusted downward in recent years after drivers complained they were too optimistic. Continue reading

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Ford China Sales Up 28% in February, But Down 15% YTD

The new Focus, built at Changon 2 is the first of 15 new or revised models due from Ford China by 2015. If the downward sales trend continues, Ford Motor will be in financial trouble because three additional new manufacturing facilities are scheduled to open by the end of 2013. Continue reading

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Corrosion Recall Covers More than 265,000 Jeep Liberty SUVs

The suspension failure investigation was upgraded by NHTSA to a more serious engineering analysis covering 2004 and 2005 models last September. It appears from publicly available documents that Chrysler resisted the recall, doing so only after a meeting with safety regulators in February. The recall to replace all the suspension arms is expected to begin in April. Continue reading

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Toyota Recalls Almost 700,000 Vehicles in U.S. for Camry, Venza and Tacoma Electronic Faults

The latest quality gaffs can cause vehicle no-starts, failed stoplights, stuck transmission gear levers as well as warning lights going off, and airbags not going off in three separate high-volume vehicle lines. Continue reading

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Kansas Refinery to pay $1 Million Fine for Pollution Violations

Coffeyville Resources Refining & Marketing (CRRM) will pay a civil penalty of more than $970,000 and invest more than $4.25 million on new pollution controls and $6.5 million in operating costs to end violations of air, superfund and community right-to-know laws at its Coffeyville, Kansas refinery. CRRM’s refinery has the capacity to refine more than 115,000 barrels of crude oil per day, producing gasoline, diesel fuels and propane. Continue reading

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Ford, Lincoln Change Touch Screens after Quality Ratings Dive

While Ford keeps claiming its customers want electronic features such as MyFord Touch, saying 56% of them rate the technology as an “important” part of the buying decision, its quality and customer satisfaction ratings by users as measured from independent sources have plummeted during the three years since introduction. Continue reading

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Ampera and Volt Voted European ‘Car of the Year 2012’

The Volt and the Ampera have won many international awards including the “World Green Car of the Year 2011” and the “North American Car of the Year 2011” award. Volt and Ampera also received the maximum 5-star Euro NCAP award. While awards are good for promotional purposes, journalists are notoriously out of touch with real car buying trends. The award comes as GM is preparing to close its Detroit Hmatrmack assembly plant for five weeks where the Volt and its Ampera identical twin are assembled because of slow sales – 1,626 Volts so far this in 2011. Continue reading

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GM Posts February Sales Record in China, Up 30%

The makes February the third highest for any month in GM’s history in China where it has led sales among foreign automakers for seven straight years. In January, GM sales dropped 8% year-over-year, and Ford’s plummeted 42%, leading to speculation that the Chinese economy is slowing down. Continue reading

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Volt Production Halted. Workers Laid Off for Five Weeks

The announcement of the setback to employees came Thursday after GM released February sales results that showed 1,023 Volts were sold in the U.S. GM has sold 1,626 Volts so far this year. Earlier in the day, a Chevrolet sales executive claimed that Volt sales would pick up now that it is approved for California HOV lanes and tax credits as a plug-in hybrid. Continue reading

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Only Nissan of Japanese Big Three Grows with Overall Auto Market in February. Toyota and Honda Lag Industry Slightly

Nissan North America reported record February U.S. sales of 106,731 units versus 92,370 units a year earlier, making for an increase of 15.5% over last February’s record total. Toyota Motor Sales moved 159,423 vehicles in February for a 12.4% increase in volume. American Honda reported February 2012 monthly new-vehicle sales of 110,157, an increase of almost 13%.

Since the overall light vehicle sales market grew by 16%, only Nissan actually kept pace with the slow recovery in auto sales that saw the best February since 2008, although Nissan also has the highest incentives in the group. Economic indicators – from consumer confidence to the stock and job markets, are showing the best results in four years. This is good news for automakers since sales are off to their strongest start industry-wide since 2008 at a strong seasonally adjusted annual selling rate or SAAR of 13.3 million light vehicles.

The difference among the Japanese Big Three was more pronounced in the higher-margin luxury segment. As usual, Lexus easily led the way with almost 17,000 luxury cars and trucks, followed by Acura at 11,000 and Infiniti at 9,000 vehicles. Continue reading

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Chrysler Group February 2012 U.S. Sales Up 40% as the Strong Comeback Continues for the Fiat Controlled Automaker

in February every Chrysler Group model posted a year-over-year sales gain, where the comparison was available. The Chrysler brand led the way with a 114% increase. The Fiat brand finished its first year of sales with its best month ever. Sales of the Fiat 500 were up 69% in February compared with the previous month. In 2011 Fiat sold 26,000 vehicles in the U.S. after predicting 50,000. Continue reading

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