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Auto Sales Drop in Most Major European Markets
8/2/2012Passenger vehicle demand fell in four of Europe's largest auto markets last month amid growing economic concerns, according to national trade groups.
Renault to Hike Brazil Engine Capacity 25%
8/2/2012Renault SA plans to boost annual capacity at the engine factory in its manufacturing complex in Curitiba, Brazil, by 100,000 units to reach 500,000 engines by next year.
Car Demand Soars 22% in Brazil
8/2/2012Sales of light vehicles in Brazil set a July record of 351,400 vehicles last month compared with 287,900 units in July 2011, according to dealer group Fenabrave.
Europe Could Lose 500,000 Auto Jobs
8/2/2012Employment cuts at Fiat SpA, PSA Peugeot Citroen and other automotive companies could eliminate more than 500,000 of the European auto industry's 7 million jobs by the end of 2013, Bloomberg News reports.
South Africa’s Vehicle Sales Climb 18%
8/2/2012Automakers sold 54,100 vehicles last month in South Africa compared with 45,700 units a year earlier, according to the National Assn. of Automobile Manufacturers of South Africa.
Visteon Triples Net Profit, But Operating Profit Lags
8/2/2012Visteon Corp. boosted net income to $75 million in the April-June period from $26 million in the same period of last year, thanks in part to $26 million in one-time gains and a 13% year-over-year reduction in overhead costs.
Loss in Europe Fuels 41% Drop in GM Profit
8/2/2012General Motors Co. netted $1.5 billion (€1.2 billion) in the second quarter of this year compared to $2.5 billion (€2.1 billion) in the same period of 2011.
GM Earnings Fall 41%
8/2/2012General Motors Co. netted $1.5 billion in the second quarter of this year compared to $2.5 billion in the same period of 2011.
GM Profit Drops 41% on Losses in Europe
8/2/2012General Motors Co. netted $1.5 billion in the second quarter of this year compared to $2.5 billion in the same period of 2011.
Fed Stands Pat on Policy But Hints of Change
8/2/2012The Federal Reserve Bank has disappointed investors by leaving the key overnight bank lending rate unchanged in a range of zero to 0.25% and declining to take other actions to jump-start the flagging U.S. economy.