President Barack Obama today told workers at a South Side Ford plant that his bailout push helped save an “industry on the brink.” More ยป Get the full story »
Inside these posts: Auto sales
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Aug. 5, 2010 at 11:45 a.m.
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Filed under: Autos, Economy, Jobs/employment, Policy, Politics, Updated At Ford plant, Obama says his plan saved industry
Ford, GM see car sales rise slightly in July
U.S. auto sales ticked higher in July in an uneven recovery that left Toyota Motor Co. and Honda Motor Co. sputtering with declines from strong year-earlier results.
By contrast, the two U.S. automakers run through government-funded bankruptcies last summer, General Motors Co. and Chrysler, posted sales gains of 5 percent each.
Ford Motor Co. only kept pace with a 5 percent gain excluding results for its now-sold Volvo brand, disappointing investors who had hoped for an outsized gain for the only U.S. automaker to have avoided a bailout. Get the full story »
Nissan returns to profit; Mitsubishi narrows loss
Nissan Motor Co. veered back into the black in its latest quarter as global car sales rebounded, while its smaller rival Mitsubishi Motors Corp. narrowed its quarterly loss.
Ford posts $2.6B 2Q profit
Ford Motor Co posted stronger-than-expected quarterly earnings and said it was on track for “solid profits” in 2010 and higher profits in 2011, sending its shares up 4 percent in premarket trade.
Second-quarter net profit rose to $2.6 billion from $2.26 billion a year earlier. Earnings per share fell to 61 cents from 69 cents due to an increase in outstanding shares. Revenue was $31.3 billion, up $4.5 billion.
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Chrysler to make buyers’ payments on new cars
Chrysler Group says it will make the first two months’ payments on most new vehicles bought this month in a bid to boost sales after a weak June. Chrysler will pay up to $500 per month for a total of $1,000 on most vehicles.
Ford’s first-half China sales rise 53 percent
Ford Motor Co. sold a record 301,524 vehicles in China during the first six months of the year, up 53 percent from the same period in 2009, the company said. The Dearborn, Michigan, automaker said its passenger car joint venture, Changan Ford Mazda Automobile, sold a record 205,563 vehicles, up 46 percent for the six-month period. Its commercial vehicle venture, Jiangling Motors Corp., sold 88,363 vehicles, also a record.
GM sells more cars in China than U.S.
General Motors’ first-half sales in China, the world’s biggest auto market, exceeded sales in its home U.S. market for the first time, according to data released on Friday. GM’s China auto sales jumped 48.5 percent to 1.21 million units in January through June, compared with the 1.08 million light vehicles it delivered in the U.S. over the same period, company data showed. Get the full story »
June auto sales point to weakening recovery
Most automakers saw their U.S. sales drop from May to June, a sign that this year’s slow recovery in the industry may be stalling.
Americans are delaying big-ticket purchases because they’re worried about their jobs in a period of high unemployment. Nervous consumers could mean a tough summer for automakers, which hope to improve sales after a dismal 2009. Get the full story »
GM looks to boost sales to ’subprime’ buyers
General Motors Co. is looking to boost auto sales by lining up banks and other financial institutions to make loans and lease deals for buyers with poor credit.
The talks lessen the likelihood of GM trying to buy the auto finance business from Ally Financial Inc., its main lender. They also make it less likely that GM would start its own auto financing unit. Get the full story »
