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AUTOMAKERS NEWS * WORLDWIDE
* Italy - Fiat makes $440M profit in 2Q, with help from Chrysler
(Photo: Sergio Marchionne)
Turin,Italy -The Detroit News (USA), by Bryce G. Hoffman -August 1, 2012: -- Chrysler Group LLC's strong second-quarter earnings turned parent company Fiat SpA's $303 million loss into a $440 million profit, the Italian car company said Tuesday, offering further proof that Chairman and CEO, Sergio Marchionne's, decision to save the bankrupt Auburn Hills automaker was smarter than anyone gave him credit for at the time... Now, Marchionne is calling on the European Union to save the region's automobile industry by forcing European nations to allow Fiat and other automakers to close plants and lay off workers in an effort to shed costly excess capacity... Fiat now expects to end the year with revenue in excess of $94.68 billion and a net profit between $1.47 and $1.84 billion...
* Japan - Honda's profit quadruples on disaster recovery
Tokyo,Japan -Associated Press/The Detroit News, by Yuri Kageyama -July 31, 2012: -- Honda's quarterly profit quadrupled to 131.7 billion yen ($1.7 billion) as the Japanese automaker bounced back from last year's natural disasters with more vehicles sold across all key regions except for Europe... Tokyo-based Honda Motor Co., which makes the Fit subcompact, and the Odyssey minivan, said Tuesday its April-June quarter sales surged 42 percent to 2.44 trillion yen ($31.2 billion)... Vehicle sales doubled in the key markets of Japan and North America but were weak in Europe where austerity measures to tackle the region's debt crisis have crimped demand. Honda reported global sales of 849,000 vehicles for the quarter, up from 458,000 a year earlier... The earthquake and tsunami in northeastern Japan and the flooding in Thailand last year disrupted parts supplies and production for all Japanese automakers. Honda's profit for the April-June period last year was 31.7 billion yen... But the Japanese automakers are making a comeback. Toyota Motor Corp., which reports earnings Friday, regained its crown as the world's biggest selling automaker from General Motors Co. in the first half of the year...
Labels: automakers news worldwide
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