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AUTOS' WORLDWIDE
* USA - Foreign cars pass Big 3 - For the 1st time, U.S. drivers buy more import brands
Detroit,Mich,USA -The Detroit News, by Josee Valcourt -July 25, 2006: -- For the first time, U.S. consumers are buying more cars and trucks built by foreign automakers than vehicles made by Detroit's traditional Big Three... New statistics compiled by R.L. Polk and Co., which counts new car registrations and excludes sales to rental car agencies and other fleet customers, show foreign brands commanded 52.9 percent of the retail auto market in the first five months of 2006, while domestic automakers fell to 47.1 percent... Domestic brands led foreign makes 51 percent to 49 percent over the same period last year...
* USA - GM surges after posting adjusted profit
San Francisco,CAL,USA -MarketWatch, by Shawn Langlois & Padraic Cassidy -Jul 26, 2006: -- General Motors Corp. shares jumped as much as 8% early Wednesday after the company's adjusted profit wowed Wall Street even as heavy charges from its massive restructuring led to a $3.2 billion loss in the second quarter... GM also reported a profit, excluding charges, in its global automotive operations for the first time since 2004... And as expected, GM didn't go into detail about the potential three-way alliance with Nissan and Renault, per an agreed upon 90-day period during which all three automakers will study the benefits of such an agreement...
* USA - GM posts $3.2 billion loss for second quarter
DETROIT,Mich,USA -Reuters -26 July 2006: -- General Motors on Wednesday posted a larger-than-expected operating profit, but a wider quarterly net loss after writing down costs associated with buyouts for almost a third of its factory work force... The world's largest automaker posted a second-quarter net loss of $3.2 billion, or $5.62 per share, compared with a loss of $987 million, or $1.75 per share, for the year-ago quarter...
* Japan - Nissan first quarter operating profit sinks on global sales slump
TOKYO,Japan -Reuters -25 July 2006: -- Nissan Motor Co. posted a worse-than-expected 26 percent slump in quarterly operating profit on Tuesday as an empty product pipeline caused a global sales slump, but maintained its full-year forecast for a marginal profit rise...
* Italy - Fiat second quarter profit up 83.1 percent
MILAN,Italy -Reuters -24 July 2006: -- Italy's Fiat S.p.A. beat analyst expectations on Monday with an 83.1 percent rise in trading profit, as its key automotive business enjoyed its third quarterly profit in a row...
* Russia - AvtoVAz may buy GM stake in venture
MOSCOW,Russia -Reuters/RBC magazine -24 July 2006: -- AvtoVAZ, Russia's No.1 carmaker, will buy out the stake of General Motors in their joint venture if GM offers the right conditions, AvtoVAZ's head said... "If GM offers favorable terms, we will accept them and will buy out their stake," AvtoVAZ Board Chairman Vladimir Artyakov told...
* China - Toyota targets 52 percent rise in China sales
SHANGHAI,China -Reuters -24 July 2006: -- Toyota Motor Corp. said on Monday it expected a 52 percent jump in its China car sales this year, helped by new models... Toyota aims to move 278,000 vehicles in China in 2006, up from 183,000 last year, including imported and locally made models, a company executive told...
* USA - Ford teams to attack costs - As carmaker considers cutting jobs and benefits, two groups will reduce product, operation costs.
DEARBORN,Mich,USA -The Detroit News, by Bryce G. Hoffman -July 26, 2006: -- Ford Motor Co. has formed two internal teams to reduce costs in product development and manufacturing operations and review capital investments as part of an acceleration of its North American turnaround plan launched in January... The automaker is also contemplating additional cost-cutting moves -- including more white-collar job and benefit cuts...
posted by Unknown @ 2:57 PM
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