BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Porsche profit jumps 44% on strong Cayenne sales]]>http://www.bloggingstocks.com/2008/03/04/porsche-profit-jumps-44-on-strong-cayenne-sales/http://www.bloggingstocks.com/2008/03/04/porsche-profit-jumps-44-on-strong-cayenne-sales/http://www.bloggingstocks.com/2008/03/04/porsche-profit-jumps-44-on-strong-cayenne-sales/#commentsFiled under: , , , , ,

Despite a tumbling economy where recession fears gain ground each day, car demand is rising for at least one auto maker. It looks like even in a recession people continue to need cars, and the good times are rolling for carmaker Porsche SE which reported that its first-half profit rose 44%. For this period, the sports car maker counted strong sales for its Cayenne sport-utility vehicles.

Porsche's profit climbed to 1.3 billion euros ($1.97 billion), compared with 897 million euros in the same period last year. A stake increase in Europe's biggest carmaker Volkswagen over the past two years made Porsche post a strong gain in its earnings numbers during the six months ended January 31.

Taking a look at the company's first-half revenue, we see a growth of 14% to 3.49 billion euros as Cayenne's first-half sales doubled to 20,340 SUVs, despite surging gasoline prices. The increase in Cayenne sales resulted in a 19% gain in overall deliveries. Thus, first half deliveries climbed up to 46,600 vehicles. The strong gains in Cayenne sales offset lower demand for the popular Porsche 911, whose sales fell 5.6% to 16,360.

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Porsche profit jumps 44% on strong Cayenne sales originally appeared on BloggingStocks on Tue, 04 Mar 2008 12:12:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>carmakerearningsforecastinthenewsPorschestakeVolkswagenTue, 04 Mar 2008 12:12:00 EST<![CDATA[General Motors (GM) (finally) planning for the future]]>http://www.bloggingstocks.com/2007/08/23/general-motors-finally-planning-for-the-future/http://www.bloggingstocks.com/2007/08/23/general-motors-finally-planning-for-the-future/http://www.bloggingstocks.com/2007/08/23/general-motors-finally-planning-for-the-future/#commentsFiled under: , , , , , , , ,

General Motors Corp (NYSE: GM) eliminated overtime at six of its North American SUV and pickup assembly plants for 2007, citing fuel prices and the competitive market. Spokesman Tom Wickham said the automaker cut production to manage its inventory levels, according to the Detroit Free Press.

The move by General Motors hints that the auto industry is moving towards a "longer and more painful downturn in the U.S. than many had expected," according to the Wall Street Journal.

What's baffling is that GM, as well as the WSJ, didn't see this coming any earlier. SUV and truck sales for General Motors were down 9% over the first seven months of the year. Auto sales were surprisingly weak in June and even worse in July for the whole industry. Add the weak housing environment, the current credit market debacle, the ever rising price of oil and the global demand for hybrid technology to the mix and one has to question who didn't see this coming.

Continue reading General Motors (GM) (finally) planning for the future

General Motors (GM) (finally) planning for the future originally appeared on BloggingStocks on Thu, 23 Aug 2007 16:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>autoautomakercarmakercarsdetroit free pressdetroit newsDetroitFreePressDetroitNewsfordgeneral motorGeneralMotorgmhybridinthenewslutzrockingham capitalRockinghamCapitalscott frewScottFrewSUVtmtoyotawickmanwsjThu, 23 Aug 2007 16:15:00 EST