Cars
Here’s a fun little activity for our readership: check out the U.S. National Debt Clock website and take a gander at the figure under, “U.S. National Debtâ€.
- Vw Starts To Feel The Crisis: Q1 Profit Down Almost 50 Percent
Although deliveries and market share are on the rise for the first quarter of 2013, Volkswagen Group posted a profit before tax of €2.7 billion ($3.53 billion), down from €4.2 billion ($5.5 billion) in the same period last year. Profit after...
- Ford's Second Quarter Profit Drops $1.4 Billion, Big Losses In Europe
The Blue Oval reported today a second quarter profit of US$1 billion (€827 million), down 57 percent or US$1.4 billion (€1.16 billion) over the same period last year, as the company's losses in Europe piled up. Net income in the first...
- General Motors Announces Third Quarter Financial Results, Profits Down 15%
General Motors announced on Wednesday its third quarter financial results. Earnings were down 15% compared to last year, from US$2.0 to US$1.7 billion, which equates to a US$1.03 profit per share compared to 2010’s US$1.20. The Detroit-based automaker's...
- Chrysler Group Repays Us And Canadian Government Loans In Full
The Chrysler Group announced the repay of U.S. and Canadian government loans totaling $7.6 billion (€5.39 billion), more than six years ahead of schedule. More specifically, the Detroit automaker made a payment of $5.9 billion to the U.S. Treasury...
- Breaking: Gm Receives Another $2 Billion In Goverment Loanns
General Motors announced on Friday that it has received a fresh injection of US$2 billion in emergency funds from the Obama administration as the company strives to avoid what appears be for many analysts, the unavoidable - bankruptcy... The new loan...
Cars
The Price of Saving Two of America’s Big Three? $14 Billion, but it Could have Been Worse
Here’s a fun little activity for our readership: check out the U.S. National Debt Clock website and take a gander at the figure under, “U.S. National Debtâ€.
That number is a little over US$14 trillion (€9.67 trillion), and is probably one of the reasons President Obama is having trouble sleeping at night. Around 0.1% of that is the loss the U.S. Treasury suffered by bailing out two of America’s big three automakers: General Motors and Chrysler.
At the height of the Global Financial Crisis in 2008, the U.S. government spent $80 billion (€55.2 billion) to save the auto-industry. Of that amount, US$14.6 billion (€10.08 billion) has been lost, never to be reclaimed. It comes as sobering news given the current state of the U.S.’s ever-growing national debt.
Read more »- Vw Starts To Feel The Crisis: Q1 Profit Down Almost 50 Percent
Although deliveries and market share are on the rise for the first quarter of 2013, Volkswagen Group posted a profit before tax of €2.7 billion ($3.53 billion), down from €4.2 billion ($5.5 billion) in the same period last year. Profit after...
- Ford's Second Quarter Profit Drops $1.4 Billion, Big Losses In Europe
The Blue Oval reported today a second quarter profit of US$1 billion (€827 million), down 57 percent or US$1.4 billion (€1.16 billion) over the same period last year, as the company's losses in Europe piled up. Net income in the first...
- General Motors Announces Third Quarter Financial Results, Profits Down 15%
General Motors announced on Wednesday its third quarter financial results. Earnings were down 15% compared to last year, from US$2.0 to US$1.7 billion, which equates to a US$1.03 profit per share compared to 2010’s US$1.20. The Detroit-based automaker's...
- Chrysler Group Repays Us And Canadian Government Loans In Full
The Chrysler Group announced the repay of U.S. and Canadian government loans totaling $7.6 billion (€5.39 billion), more than six years ahead of schedule. More specifically, the Detroit automaker made a payment of $5.9 billion to the U.S. Treasury...
- Breaking: Gm Receives Another $2 Billion In Goverment Loanns
General Motors announced on Friday that it has received a fresh injection of US$2 billion in emergency funds from the Obama administration as the company strives to avoid what appears be for many analysts, the unavoidable - bankruptcy... The new loan...