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AUTOS' WORLD NEWS
* Toyota fiscal year pretax profit seen up 10 percent
TOKYO,Japan -Nihon Keizai business daily/Reuters -Jan 16, 2006: Toyota Motor Corp. will likely report a more than 10 percent rise in group pretax profit for the fiscal year ending in March, helped by valuation gains on its former UFJ Holdings shares... The world's second-biggest automaker will book a stock valuation gain of about $1.23 billion (140 billion yen) on its holdings of shares in UFJ Holdings Inc., which merged with Mitsubishi Tokyo Financial Group in October to create Mitsubishi UFJ Financial Group Inc., the newspaper said.The valuation gains will push up Toyota's full-year pretax profit to around $16.96 billion to $17.22 billion (1.95 trillion yen to 1.98 trillion yen), up about 11-13 percent from a year earlier, it said...
* Ford Motor sees record 2005 China vehicle sales
SHANGHAI,China -Reuters/Automotive News -Jan 16, 2006: Ford Motor Co. said on Monday it had sold 82,225 of its own-brand vehicles in China in 2005, up 46 percent on the previous year as it rode an expanded lineup of models... Ford said in a statement that its overall affiliated brands sales had surpassed an estimated 220,000 units last year... Analysts expect sales to grow some 20 percent this year on continued strong demand for cheaper models...
* Ford's Wixom safe
Waltham, Mass,USA -Global Insight/The Detroit News, by Bryce G. Hoffman -18 Jan 2006: Automaker will shutter 4 plants, but Michigan factory isn't on downsizing list... Ford Motor Co. plans to announce the closure of at least four assembly plants Monday, according to a respected industry analysis firm, but Michigan's Wixom Assembly Plant will not be one of them... With the struggling automaker preparing to reveal the details of its "Way Forward" restructuring plan Monday, Global Insight Inc. of ., will outline its analysis of Ford's plan today during a Webcast...
* General Motors at a fork in the road, by JEROME B. YORK (advisor to investor Kirk Kerkorian)
USA -Automotive News -16 Jan 2006: A possible solution for a robust resurgence. The text of a speech given Tuesday, Jan. 10, by Jerry York to the Society of Automotive Analysts regarding General Motors' problems. York is an advisor to investor Kirk Kerkorian, who owns 7.8 percent of GM. York is former CFO of Chrysler Corp...
* Skoda Auto eyes $250 million profit for 2005
PRAGUE,Checz. -Reuters/Hospodarske Noviny business daily -Jan 16, 2006: Profits at Skoda Auto, a unit of German carmaker Volkswagen, are likely to exceed $250.8 million (6 billion crowns) for 2005... Full year results are due out on Feb. 23... Skoda Auto Chairman Detlef Wittig said late last week that 2005 revenues were up some 20 percent year-on-year...
* European car sales end 2005 with a whimper
FRANKFURT,Germany -Reuters -Jan 16, 2006: New car sales in Europe fell 3.9 percent in December, ending 2005 on a weak note despite a ferocious price war, a slew of fresh models and strong showings by most Japanese manufacturers, industry data showed on Monday... Declines in big markets Germany, Italy, France and Spain offset a rare rise in Britain in December, limiting new car registrations in 23 European Union countries plus Norway, Switzerland and Iceland to just below 1.1 million units... "This drop was influenced by a smaller number of working days in almost all countries ... but also confirms the sluggish market conditions in the last quarter," European car industry association ACEA said...
* Saab loses $300 million in 2005, report says
FRANKFURT,Germany -Reuters/Handelsblatt -Jan 17, 2006: General Motors' premium brand Saab lost more than $300 million in 2005, heaping pressure on GM given calls from investor Tracinda to sell Saab and other loss-making units...The daily cited company sources saying Saab's loss widened from nearly $200 million in 2004...
* German prosecutors probe three ex-BMW staff
FRANKFURT,Germany -Der Spiegel magazine/Reuters -Jan 16, 2006: German prosecutors are investigating three former employees of carmaker BMW on suspicion of taking bribes... A purchasing manager, who has been detained, was among the suspects... A BMW spokeswoman said the three workers had been dismissed last year. The authorities accused them of taking bribes from German, U.S. and Austrian suppliers.
* Vietnam says 2005 car sales down 12 percent due taxes
HANOI,Vietnam -Reuters -Jan 17, 2006: Vehicles sales by 11 foreign-backed automakers in Vietnam fell 12 percent last year from 2004 to 35,264, the Vietnam Automobile Manufacturers Association said on Tuesday... The sector has seen a decline in sales since last January when higher consumption taxes were imposed on domestically assembled vehicles...
posted by Unknown @ 11:42 AM
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