Linda Young – AHN News Writer
Detroit, MI, United States (AHN) – General Motors saw its second quarter earnings surge by 92 percent compared to the same period a year earlier. It earned $2.5 billion compared to the $1.3 billion GM earned a year earlier. The nation’s No. 1 automaker had revenue of $39.4 billion, up by 19 percent on improved average pricing and numbers of vehicles sold. Only two years out of a federal bailout, most of GM’s growth came from U.S. sales, which increased by 11 percent to 669,000 vehicles sold while company-wide growth increased by 7 percent overall to 2.3 million vehicles sold worldwide. For the first time in years, GM made money in each of its four regions. GM (GM, Fortune 500) posted a profit of $2.5 billion, or $1.54 [...] Continue Reading…
GM earnings soar 92 percent on global sales
August 8th, 2011 
admin Volkswagen postpones MAN supervisory board takeover
July 9th, 2011 admin Kris Alingod – AHN News Contributor
Wolfsburg, Germany (AHN) – Volkswagen on Monday postponed its appointment of executives to truckmaker MAN’s supervisory board following advise from the European Union. The Wolfsburg-based company said it is in “constructive discussions” with the EU Commission after the panel said the appointments should be made after anti-trust clearance of the merger with MAN. VW held off nominating chief executive Martin Winterkorn, chief financial officer Hans Dieter Poetsch, and the automaker’s chief for commercial vehicles, Jochem Heizmann, to MAN’s supervisory board. Instead, the company named executives Ulf Berkenhagen and Thomas Kremer, who are current members of the board, consistent with VW’s 29.9 percent share in MAN. A third executive, Matthias Bruse, was also appointed as placeholder. VW said it will “continue to prepare the merger control application in close cooperation with [...] Continue Reading…
Toyota forecasts see $1.6b loss for year
June 24th, 2011 admin Linda Young – AHN News Writer
Tokyo, Japan (AHN) – The March 11 earthquake in Japan that destroyed some infrastructure along with factories and other businesses has left Toyota struggling with supply chain issues that mean a continued loss of profit. Toyota on Friday announced it expected to lose around $1.6 billion for 2012, its current fiscal year. It forecast net profits of $3.5 billion for the fiscal year through the end of March 2012, which is about a third less than last fiscal year for the same period. Production has been off for the giant automaker. It said it hoped to get production up to 90 percent of capacity before the end of the month.
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Volvo recalls S60 due to fuel pump issue
June 9th, 2011 admin Kris Alingod – AHN News Contributor
Washington, D.C., United States (AHN) – Volvo is voluntarily recalling its new S60 because of a problem with the fuel pump. According to the National Highway Traffic Safety Administration, more than 7,500 units of the 2012 model are affected in the recall. The software used to control the fuel delivery system may be incompatible with some components. This could cause the engine to stall or hesitate despite a quarter tank of fuel, which in turn may lead to a crash. The recall begins on June 17. Only vehicles manufactured from Nov. 18, 2010 through May 5 are included. Customers will receive a free software update at authorized dealers. The S60 is the Swedish automaker’s latest offering in its line of compact executive sedans. a that retails Its [...] Continue Reading…
Firm will buy back 1% China stake
June 8th, 2011 admin Automaker to use option to repurchase to make it an equally held unit with its partner
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Classic Old Cars
June 7th, 2011 admin The olden classics of yesteryears have always attracted attention from the car fanatics whether it is vintage, antique or limited edition models. With broader and more modernized times like these, it is difficult to find someone driving limited edition models on the roads. The Internet mega resource has provided easy search options where you can find thousands of cheap old classic cars for sale online without ever getting out of your home. There are varied classic car communities online providing information on latest updates on antique car sales, offers on older cars, older engines, accessories, etc. The online car community had varied categories to search in classic car, street rods, classic trucks and various other cars parts and accessories. Thousands of cars are transacted each day through online website portals that do not charge you any transaction fees. The [...] Continue Reading…
Fiat offers $125 million for Canada’s Chrysler stake: CEO
June 6th, 2011 admin Fiat has offered $125 million to buy the Canadian government’s stake in Chrysler Group LLC as it moves swiftly to strengthen its control of the U.S. automaker, Fiat Spa CEO Sergio Marchionne said on Saturday.
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Used Car Dealer in Florida
June 4th, 2011 admin When shopping for a used car dealer in Florida you have the opportunity of selecting a dealership with an experienced staff that is committed to customer satisfaction throughout your vehicle buying and ownership process. You want to select an exceptional vehicle from a used car dealer in Florida where there are many options from a fully stocked lot of cars, vans, SUV’s, and trucks.You want the sales team to have the experience and information to assist you in finding just the right vehicle. There are always hundreds of exceptional vehicles in the pre owned inventory stock.You can take the guesswork out of buying a used vehicle from a used car dealer in Florida by selecting a “certified pre-owned” vehicle.These used vehicles are tested to meet standards to be sold as “certified” and must pass specific inspections for the certification.If [...] Continue Reading…
Hyundai’s Rivals Better Prepare For A Bumpy Night
June 4th, 2011 admin The big winner in the auto industry in the last few months has been the Korean automaker Hyundai. Last month, while car sales stalled, Hyundai had its biggest month ever. Analysts point to Hyundai’s success as a sign of the increasingly competitive nature of the U.S. car market.
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Factory orders fell in April after parts shortage
June 2nd, 2011 admin Businesses cut back on their orders for heavy machinery, computers and autos in April, partly reflecting supply disruptions stemming from natural disasters in Japan.
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