May 2010

Ford surprises with first-quarter profit of $2.1 billion

(April 27, 2010) Ford Motor Company today reported first quarter 2010 net income of $2.1 billion, or 50 cents per share, a $3.5 billion improvement from first quarter 2009, as strong selling new products, improvements in its global Automotive operations, and higher profits at Ford Credit boosted results.

Ford commercial fleets will have 100 percent fuel-efficient powertrains

(April 24, 2010) Ford, the industry leader in commercial and government fleet sales, will offer 100 percent of its fleet vehicles this year with fuel-efficient powertrains and other sustainable technologies — including battery electric, hybrid, natural gas, propane, E-85, biodiesel (B20) and EcoBoost — making the Blue Oval the industry’s greenest full-line fleet provider.

Hyundai says demand for new models leads to record profits

(April 22, 2010) Hyundai, South Korea’s largest automaker, said quarterly profit jumped fivefold to a record after an economic recovery and new models spurred demand.

Net income rose to 1.13 trillion won ($1 billion) in the three months ended March 31, from 225 billion won a year earlier, the Seoul-based carmaker said in a statement today. That compares with the 790.3 billion won average of 26 analyst estimates compiled by Bloomberg. Sales gained 40 percent to 8.42 trillion won.

Chrysler will sell several Alfa-brand models in the U.S. including two crossovers

(April 22, 2010) Chrysler Group will play a key role in plans to revive Fiat's ailing Alfa brand. The U.S. automaker will build two new Alfa crossover models for sale in North America and Europe as well as a five-door version of the MiTo minicar, currently sold in Europe as a three door.

Fiat CEO Sergio Marchionne made a strong commitment to the money-losing sporty brand, which will be 100 years old in June, during a presentation of Fiat's five-year strategy Wednesday, Automotive News reported.

Ford increases use of renewable and recyclable materials

(April 22, 2010) Ford is making its vehicles more eco-friendly through increased use of renewable and recyclable materials such as the soy and bio-based seat cushions and seatbacks on the 2010 Ford Taurus.

Ford vehicles are now 85 percent recyclable by weight. In 2009, Ford saved approximately $4.5 million by using recycled materials, and diverted between 25 and 30 million pounds of plastic from landfills in North America alone.

General Motors announces final payment to U.S. government

(April 21, 2010) General Motors Company Chairman and CEO Ed Whitacre today announced that GM has made its final payment of $5.8 billion to the U.S. Treasury and Export Development Canada, paying back its government loans in full, ahead of schedule.

Chrysler announces operating profit for first quarter of 2010

(April 21, 2010) Chrysler Group said it posted a $143 million operating profit in the first three months of the year after cutting costs and introducing a big pickup.

Revenue rose to $9.69 billion in the first quarter, up 2.7 percent from the final three months of 2009, the automaker said in a statement. Chrysler reported a net loss of $197 million in the first quarter, compared with a net loss of $2.69 billion in the final three months of last year.

More than 500 2010 Camaros take part in Camaro5Fest in Georgia

(April 21, 2010) More than 500 2010 Camaros descended on Valdosta, Ga. for the first Camaro5Fest. The event is believed to have been the largest-ever gathering of fifth-generation Camaro owners. More than 1,000 people attended the event, driving their 2010 Camaros from across the U.S. and Canada to Valdosta on Friday, April 16.

Subaru plans to boost production at its Indiana assembly plant

(April 20, 2010) Automotive News reports that Subaru plans to boost production capacity at its Indiana assembly plant by 40 percent this year to meet booming demand for the Outback wagon and Legacy sedan.

The move comes as Fuji Heavy Industries maker of the Subaru brand, targets U.S. sales of 230,000 vehicles for 2010, spokesman Masashi Uemura said on Monday. The ramp-up will happen at the plant in Lafayette, Ind.

Subaru’s sales goal represents a 6 percent increase over the 216,652 vehicles it sold in 2009.

New Explorer will offer advanced terrain management system

(April 19, 2010) DEARBORN, Mich. — When the all-new Ford Explorer sport utility vehicle goes in to production later this year, it will offer an advanced terrain management system that takes the mystery out of four-wheel drive by optimizing powertrain behavior for specific situations and road conditions.