GM Loses Global Car Sales Lead to Toyota Again
Auto sales have recovered in the US, but GM once again has dropped out of the top spot globally. CNN Money reports GM loses global sales title to Toyota, again.
General Motors fell to No. 2 in the global auto sales race, even as 2012 was its best year for sales since 2007.
Losses on overseas operations and a higher tax burden took a toll on Ford Motor Company in the first quarter, the US auto giant reported on Friday.Ford posted a sharp 46 percent fall in net income from the year-earlier quarter to $1.4 billion despite surging US sales.The company said higher tax expenses were to blame for much of the fall, but also lower sales volumes in Europe and earnings downturns in other regions.Earnings per share were 35 cents, down from 61 cents a year earlier.
By Seeking Profits:Shares of Ford (F) rallied 2% on Tuesday morning after the company reported a pretty solid quarter (press release available here). While Europe remains soft and Latin America faces new challenges, Ford continues to perform very strongly in the U.S.
It seems yet another (luxury) car maker did not get the "but it's the weather" memo. Following Mercedes record sales in January, Porsche has announced today that expects to hit a target of selling more than 200,000 sports cars next year, three years earlier than originally scheduled.
It’s a quiet morning.
Stateside, stocks continue to slowly melt higher after Monday morning’s big selloff. The Shanghai Composite is barely in the red today after a week of credit-crunch turmoil. European shares are higher.
So far, it feels like an average day—the first time a meltdown in some corner of the world isn’t affecting our markets. That is, if we completely ignore what’s happening with precious metals right now.
You guessed it: gold’s getting clobbered again. The yellow metal lost a cool $50 overnight, dropping to a low of $1,223.