General Motors' second quarter net profit plunged US$1bn to $1.5bn, or $0.90 per share from $2.5bn, or $1.54, the previous year as the loss in Europe grew from an EBIT-adjusted $0.1bn in Q2 2011 to $0.4bn this year.
GM today posted a smaller second-quarter loss in Europe than expected by analysts. The automaker said it could not predict when its operations in the region will return to profit. Analysts say they expect GM to lose between $1.4 billion to $1.
Continental raised forecasts for revenue and profitability this year after a decline in raw-material costs and growth in sales helped second-quarter profit.
Suzuki Motor first fiscal quarter net profit rose 30.6% year on year to JPY24.5bn (US$312m) as strong domestic sales offset the strong yen.
Lear's second-quarter earnings fell 18 percent because of "challenging" business conditions in Europe, the supplier of seats and electric power management systems said today.
General Motors today said net profit fell sharply in the second quarter, as widening losses in Europe partially offset 'solid' earnings in North America. Net income for the April-June period dropped 41 percent to $1.49 billion.
Visteon Corporation reported second quarter 2012 net income of US$75m, or $1.40 per share, up from $26m, or $0.50 in Q2 2011.
AutoNation said new vehicle sales to retail customers in the United States rose 14 percent in July -- well ahead of the national sales gain of 9 percent.
Supplier Visteon reported a slump in sales and cut its earnings forecast for the year, citing lower vehicle production in Europe, South America and China.
Toyota will boost global production by about 300,000 units this year as it expects sales growth mainly in the US and emerging markets.
Toyota Motor Sales (TMS), USA is recalling around 760,000 2006 to early 2011 model year RAV4 SUV and abut 18,000 2010 model year Lexus HS 250h hybrid vehicles sold in the US for a rear suspension check.
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2 Aug, 2012
You can now order the Volkswagen up! with a more efficient automatic gearbox for an extra £595
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2 Aug, 2012
First official picture of the new Mazda 6 Estate has been released, as production begins in Japan
Renesas Electronics, the world's leading manufacturer of microcontroller chips used in cars, today forecast a record annual net loss of 150 billion yen ($1.
Renesas Electronics, the world's leading manufacturer of microcontroller chips used in cars, forecast a record annual net loss of 150 billion yen ($1.9 billion) as it fights for survival in the face of sinking prices and aggressive overseas rivals.
BMW has offered to increase its full-time domestic workforce by 3,200 jobs by the end of next year to settle a long-running dispute with its unions over its widespread use of temporary workers.
South Korea's car markers saw sales slump in July with even overseas markets, which had so far this year offset a sluggish domestic performance, also weakening.
New-car registrations in Germany fell 5 percent in July, a slower decline than in other major European markets.
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