The only car manufacturer in the United States, which escaped bankruptcy (unlike GM and Chrysler) – Ford, announced that during the third quarter made a profit of 997 million dollars. This is a positive result for the company’s operating profit for the first quarter of 2008. Profits before tax amounted to 1.1 billion dollars or 26 cents a share, compared with a loss of $ 3 billion for the period July-September 2008, analysts expected a loss of 20 cents per share. We recall that in the second quarter the company also reported a profit but it was a result of debt restructuring, which was then reduced 10 billion dollars due to capitalization. The company’s revenues fell by 2.5 percent compared with same period of 2008, falling approximately 30.9 million, which, however, is expected by the market over 28.5 billion dollars.
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The deal for selling of the Swedish car manufacturer Volvo, which is owned by Ford, the Chinese firm Geely for $ 2 billion may fail, warns agency Bloomberg, citing its own sources, without revealing their names. Geely is negotiating the purchase of Volvo by Ford for about 10 months. On another round of talks, which are currently kept in London, both sides try to reach agreement on patent rights. U.S. company wants to obtain from Geely guarantee that it will use the development of Volvo, which Ford intends to use in their future models. «Volvo is a fully integrated strategy for development of Ford’s total production and it is important to negotiate a development will remain where designers of the Swedish brand,” Bloomberg quotes a participant in the negotiations. According to consulting firm CSM Worldwide, which is one of intermediaries to deal with the Chinese if the negotiations fail, Ford will retain control over the Volvo and will not seek a new buyer will even take steps to improve the condition of its subsidiary. The negotiations were complicated because of the arrest last week for theft of technical documentation from the U.S. manufacturer of Chinese citizen Syan Dong Yu He spent 10 years as an engineer at Ford.
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Volkswagen has announced that sales for September, and globally have increased by 11.9% over the same month last up to 615 thousand cars. As best present in the home markets of Germany and China, where in September were first sold more than 1 million cars per month. The company announced that next month plans to hold a meeting of shareholders to seek approval to issue 135 million new preferred shares to the value 10 billion as part of taking over Germany’s group for production of luxury cars, Porsche. Under the deal with Porsche Volkswagen will pay 3.3 billion euros for 42-percent stake in the manufacturer of sports cars.
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The U.S. carmaker General Motors is working on a “plan B” on the future of Opel and a willingness to continue to manage its European division, says the Wall Street Journal. Despite the fact that the company is working on finalizing the deal with Canadian-Russian consortium Magna and Sberbank, problems associated with EU regulations may prevent the deal. Comes to aid of 4.5 billion, which German government grant to help Opel, a step which Community directives prohibited. At the end of last week, European Commissioner for Competition Neelie Kroes sent a letter to the Minister of Economy of Germany Karl-Theodor Gyutenberg in which it was stated that GM should have the opportunity to again review process associated with the sale of Opel. We recall that in September, GM decided to sell Magna 55 percent of Opel, as stocks remaining 35%, while the other 10 remain in the hands of employees.
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The largest Russian car manufacturer “AvtoVAZ”, will launch its stream lines for cars and on Saturday, as the demand for family cars from Lada Priora has increased significantly, RIA Novosti agency reported, citing information from the company. Data from the press service of “AvtoVAZ” the sale of four marks Lada cars in the first half in Russia. Leader Lada Priora, from which they sold 49 000 units. Secondly, it is Lada Samara with sales of 47 000, followed by experience, Lada 2105/2107 – with 37 000 sales. Data from the Association of European Business, quoted by RIA Novosti, the first half of 2009, total production of “AvtoVAZ” has decreased by 44% to 179 900 transport vehicles.
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The Sales of automobile company Ford Motor Co. increased by 2.3% in the U.S., which is the first growth from November 2007, Reuters transmitted from Detroit. This was possible thanks to the government’s program for upgrading cars. Due to its rapid depletion it was stopped. Account number is 165 279 sales in July brands all of Ford. For the same period in 2008 they were 161 530 units. Growth of 1.6% reported basic models and Lincoln Mercury, 158 to 838 pieces. Brenda Sales of Volvo, which the U.S. is owned by Ford, have increased by 25.7% to 6 441 units. Ford is the only American automobile manufacturer, which went through the procedure of bankruptcy to reorganize operations and has not received government funding.
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The second largest Japanese car company Honda reported 25.1 billion yen (267 million) operating profit for the first quarter of its fiscal years ended on June 30, forward Bloomberg. The result is 88 less than the same period last year, but was significantly higher than estimates of the analyzers who expected the company reported a loss of 40 billion yen. Sales of the company for that period amounted to 2 billions yen, or about 21 billion dollars. The company’s net profit amounted to 7.5 billion yen or 79.7 million dollars. Honda increased its forecasts for the sale of up to 3.295 million vehicles per year. Previously the company’s expectations were for 3.21 million sales.
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