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The profit of the Japanese automaker- Toyota has increased 43% in the latest quarter as cost-cutting, lower selling outlays and falling warranty expenses offset unfavorable foreign exchange rates and helped the automaker to have a record full-year net income.Operating profit rose to 629.6 billion yen ($5.93 billion) in the carmaker’s fiscal fourth quarter ended March 31, while net income advanced 21 percent to 480.8 billion yen ($4.53 billion). Revenue rose 1.9 percent to 7.58 trillion yen ($71.36 billion). Global retail sales increased 2.2 percent to 2.6 million vehicles in the January-...
As pressures mount on the industry despite rising vehicle sales, climbing technology costs, raw materials and global currency shifts ate into profits at the world’s carmakers. The US car market seems to recover, thanks to the sales increase in the first quarter.German groups Volkswagen and Daimler saw material and commodity costs deflate their earnings, while smaller operators Volvo and Mazda flagged rising technology and marketing spending for their profit drops. The outlay from launching new vehicles also took tolls on Fiat Chrysler, General Motors, Volvo and Daimler, with higher marke...
For Ford Mustang enthusiasts, April 17 is a special date. In 1964, Ford unveiled the pony car at the World’s Fair in Flushing Meadows, New York. It became an overnight sensation. Now, 54 years later, the iconic muscle car is the best-selling sports coupe in the world for 2017. Ford sold 125,809 Mustang coupes and convertibles in 2017. The world is falling in love with this car, Mustang representing the best of American design, performance, and freedom with unmistakable personality. The United States is the car’s best market. Ford sold here 81,866 Mustangs. But, other mar...
It seems like Nissan isn’t doing as great as we thought. Its sales went down due to high costs from improper final inspection procedures at home and higher discounts in the U.S.. Nissan's quarterly operating profit was 82.4 billion yen ($752 million) between October and December, down from 163.51 billion a year earlier. The automaker took a 39.6 billion yen hit in the quarter due to costs related to improper procedures for final inspections on vehicles produced at its Japan plants, while U.S. marketing and sales expenses, which include incentives, cost the automak...
Kumar Galhotra emigrated from India to USA at 18 years old to study mechanical engineering at the University of Michigan-Dearborn. He knew there was just one company he wanted to work for "It was just Ford" he recalled. Shortly before receiving his bachelor of science degree, Galhotra printed a stack of resumes and hand-delivered them in hopes of landing a job with Blue Oval. Galhotra's ambition paid off with a 30-year career at Ford that now has him taking on high-stakes responsibilities as automaker's chief marketing officer.Galhotra has orchestra...
