"Ford earns second quarter 2012 pre-tax operating profit of $1.8bn, net income of $1bn+" screams the press release headline. Okaaaaaay, this is the company that just announced more layoffs in Australia and of whom analysts are saying needs to shed at least one plant in Europe. What sayeth the release about that?
Ford is forecasting a drop in operating profit for 2012 as the automaker expects to lose more than $1 billion in Europe, where the deepening economic crisis is hitting sales.
PSA Peugeot Citroen will consolidate both brands under one independent Australian distributor early next year, according to a local media report.
France is to dramatically increase the level of subsidy available to electric and hybrid vehicles, while the State will also commit to ensuring 25% of its fleet is of the same variety.
Honda Australia is to buy its first diesel versions of the CR-V SUV from Honda UK Manufacturing.
Vehicle production in China in June slipped 2.37% from the previous month to 1.5m units but that represented an increase of 9.09% over the same month last year, figures from the China Association of Automobile Manufacturers (CAAM) show.
Another 1,100 jobs are opening up in the UK auto industry.
PSA half year group revenues fell 5.1% year-on-year to EUR29.6bn with automotive division revenues down 10.5%. Group recurring operating income was break even at EUR4m, versus EUR1,157m in first half 2011. Recurring operating income for the automotive division was a loss of EUR662m, the net loss was EUR819m.
Mazda has chosen the Moscow motor show at the end of August for the world debut of its new 6 saloon. It had been expected to be unveiled at the Paris show a month later but that is now likely to see the estate version of the car take its bow.
News
25 Jul, 2012
Jaguar Land Rover is creating more than 1,100 jobs at its West Midlands factory
News
29 Aug, 2012
The new-look Audi R8 has been unveiled at the Moscow Motor Show
The Woodward Dream Cruise is a few weeks away on August 18, but you can already hear the big blocks rumbling in anticipation.
News
25 Jul, 2012
Official pictures of the production-ready Mazda 6 have been released, ahead of its Moscow Motor Show debut
Daimler reported a 13 percent decline in second-quarter profit as spending to expand the lineup of Mercedes-Benz compact cars offset higher deliveries. Earnings before interest and taxes fell to 2.24 billion euros ($2.7 billion) from 2.
Bulging front fenders, a sharply creased hood and wide-mouth grille give the next Mazda6 a more dynamic look than the current generation's hum drum styling.
The British government is aiming to speed up the commercialization of low-CO2 vehicle technologies with public and private sector investment totaling 56 million pounds (72 million euros), the UK's innovation agency said.
With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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