U.S. buyers snapped up new cars and trucks in June at a pace not seen since before the recession. Continuing demand for big pickups helped boost sales for Detroit's automakers. Ford said Tuesday that its sales rose 14 percent, while Chrysler's gained 8 percent and General Motors' rose 6.5 percent.
The chief executive of Ethiopian Airlines says that his company has pocketed a record profit despite the temporary grounding of its Boeing 787 Dreamliner planes. Tewolde Gebremariam told The Associated Press Monday that his company is expecting a record profit with 20 to 25 percent growth in revenue and number of passengers.
U.S. manufacturing activity grew in June behind a pickup in new orders, exports and production. Better economic growth overseas is boosting U.S. exports and could help American factories rebound in the second half of the year. The Institute for Supply Management said Monday that its index of factory activity increased to 50.9 in June. That's up from 49 in May, which was the lowest reading in four years.
Toyota Motor Corp. will aim to boost its sales of vehicles in emerging markets from 3.7 million in 2012 to 5 million in the future, a company executive said Monday, as the automaker predicts its global sales will reach a record 10 million units.
Aluminum giant Alcoa said Friday that it will close a smelting facility in Italy, its latest move to trim costs as it grapples with lower aluminum prices. Alcoa was already tamping down production at the Fusina smelter in Venice, Italy, three years ago, citing weak aluminum prices and the need to stay competitive.
China's manufacturing weakened again in June amid a credit crunch and slower U.S. and European orders, two surveys showed Monday, adding to signs that growth in the world's second-largest economy is decelerating. HSBC's purchasing managers' index declined to 48.2 from May's 49.2 on a 50-point scale on which numbers below 50 show a contraction.
Germany has blocked a European Union agreement on capping car carbon emissions because the deal could have cost jobs and harmed its domestic auto industry, officials said Friday. The blunt admission that Europe's biggest economy put business interests before environmental standards is at odds with Germany's image as a champion of green issues.
North Carolina auto dealers say they're moving ahead with a bill updating franchise laws without a provision that effectively bans the business model of electric car manufacturer Tesla. But Bob Glaser of the NC Automobile Dealers Association said Thursday that the group hasn't given up on a separate bill targeting the automaker that already passed the Senate last month.
In conjunction with the 30th anniversary of its Smyrna, Tenn. Vehicle Assembly Plant, Nissan is adding more than 900 manufacturing jobs to support future production of the Nissan Rogue, marking the first time the Rogue has been produced in the United States.
I have a Tesla Roadster, which I have had for four years and which has 75,000 miles on it. My impressions: Compared to the various other sports cars I have owned – Porsche, RX-7, 3000 – the car has far better acceleration and has instant response to the throttle pedal compared to the lag and roughness of all gas engine cars.
ADP CFO Jan Siegmund says that his company's monthly employment report uses 'real-time payroll processing transactions' to calculate jobs data, unlike the BLS which uses surveys. Siegmund says that ADP has worked very hard to create a very high quality, sustainable, and relevant measure.
Let's say you're James Bond, and you get married. Your wife survives being married to James Bond, and you have kids. You might want something with four doors. With four doors, the Aston Martin Rapide S has room for the whole Bond, James Bond, family.
The job situation is still a very hot topic in the United States. ADP has access to jobs data from 600,000 employers and ADP CFO Jan Siegmund explains what the data is telling us now. He says that the slowing of employment growth over the last few months is due to tax rate changes and the anticipation of health reform.
Revamped full-size pickup trucks from General Motors are starting to arrive at Chevrolet and GMC dealers nationwide, and the company's top executive says the launch has gone well. CEO Dan Akerson said Wednesday that the smooth debut of the Chevrolet Silverado and GMC Sierra trucks is an example of how GM plans to maintain high quality while replacing many of its older vehicles this year.
Sometimes, as a leader, you just have to take one for the team. And that's exactly what Renault-Nissan CEO Carlos Ghosn has done. Ghosn cheered on a weakening of the yen, despite it shaving a couple million dollars off his current paycheck. Maybe that's because he still out-earns some peers.
Gun manufacturer Smith & Wesson Holding Corp. on Tuesday reported record sales for its fourth quarter and full fiscal year amid a surge in demand for its firearms. Smith & Wesson reported net income of $25.2 million in its fourth quarter that ended April 30, double last year's $12.5 million quarterly profit.
Despite the ever looming concern about high fuel prices, there is still booming interest in many motorsports vehicles and products. Over the past several years, Sportech, Inc. has experienced an explosive increase in demand for their Thermoplastic Polyolefin (TPO) parts for original equipment manufacturers of motorcycles, snowmobiles, ATVs, and other off-road vehicles.
How many electric cars are on the U.S. market today? I can think of the Nissan Leaf, Chevrolet Volt – and, of course – the Tesla Model S. Despite these other zero-emission vehicles (that are also a bit more affordable), Tesla always tops this list.
U.S. businesses stepped up their orders for long-lasting manufactured goods in May, and a gauge of their investment plans rose for a third straight month. The Commerce Department said Tuesday that orders for durable goods rose 3.6 percent, matching April's gain. Most of the increase was due to a surge in commercial aircraft orders, which tend to fluctuate sharply from month to month.
Scandinavian airline SAS says it plans to order 12 new planes from Airbus in a deal valued at $3.3 billion at list prices. SAS said Tuesday it has signed a memorandum of understanding — short of a firm order — for eight A350 and four A330 planes as part of a renewal of its long-haul fleet.
IMTSTV's Penny Brown got a chance to speak with Steve Fritzinger, NetApp's Virtualization Alliance Manager, Java Author, and Economics Writer, about the current state of the manufacturing industry. Fritzinger explains how competition and technology are driving the industry's pace, and why companies must adapt to this change if they want to survive. He also speaks about the future of manufacturing jobs in America.
Nissan Chief Executive Carlos Ghosn promised strong sales growth to shareholders Tuesday in a turnaround from natural disasters and a boycott in China set off by a territorial dispute. He also told them he was paid 988 million yen ($9.9 million) for the past fiscal year, up 1 million yen ($10,000) from the previous fiscal year.
Volkswagen calls its Chattanooga plant a global model for energy conservation and efficient production. But executives remain tightlipped about whether the facility is in line to produce a new crossover SUV for the German automaker. A decision about production of the new model could come as soon as the quarter that begins in July.
The first full-production Explorer rolled off the assembly line in April at Ford Sollers Elabuga Assembly Plant in the Republic of Tatarstan for the Russian market. Previously, only knock-down versions of Explorer had been built anywhere outside of the United States. Here, Bruce Hettle, director of manufacturing engineering with Ford, talks global Ford SUV production, the Ford Production System, and the future auto market.
CEO Jim McNerney says the 787 is a mature technology as Boeing launches a stretched version of the airliner, the 787-10. The 787-10 holds more passengers, but is designed for shorter distances, making it an ideal aircraft for regional carriers.