Cars
In 2011, U.S exports rose by 14.4 percent to a record US$2.1 trillion. That’s the good news. The bad news is that imports also set an all-time high record of US$2.7 trillion, a 13.8 percent increase over 2010. It's really not that hard to realize that the result is a deficit of 0.6 trillion – or US$558 billion, to be exact.
- Spain Increases Sales Tax To 21 Percent In Order To Reduce Deficit, Car Sales Plummet By 28 Percent
Europe's southern countries, i.e. Spain, Portugal, Italy and Greece, have been hurt the most by the economic crisis that has hit the Old Continent. In an effort to reduce the public deficit by €65 billion (US$82 billion) by the end of 2014,...
- 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...
- Record Numbers For Mexican Auto Industry In The First Five Months Of The Year
The Mexican Automobile Industry Association, or AMIA, said on Monday that production and exports of cars and light trucks hit record numbers both in May and during the first five months of the year, according to a report from the Wall Street Journal....
- Hyundai Sells Over A Million Vehicles, Kia More Than 630,000 In The First Quarter Of 2012
Business is booming for South Korea's Hyundai Group that reported its first quarter results. The Hyundai brand sold an impressive 1,072,679 new vehicles worldwide (domestic: 154,800 / overseas: 917,879) in the first three months of 2012, up 16.7...
- 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...
Cars
USW Says New Record U.S. Trade Deficit with China Threatens Auto Jobs
In 2011, U.S exports rose by 14.4 percent to a record US$2.1 trillion. That’s the good news. The bad news is that imports also set an all-time high record of US$2.7 trillion, a 13.8 percent increase over 2010. It's really not that hard to realize that the result is a deficit of 0.6 trillion – or US$558 billion, to be exact.
More than half of this trade deficit is with China, a startling US$295.4 billion. Even though U.S. exports to world's most populated country rose by 13.1 percent to US$103.9 billion, it was offset by a 9.4 percent increase to a record US$399.3 billion in imports from China.
The auto industry was amongst those sectors that set new deficit records: last December alone marked an increase of US$1.8 billion in imported vehicles, parts and engines.
Read more »- Spain Increases Sales Tax To 21 Percent In Order To Reduce Deficit, Car Sales Plummet By 28 Percent
Europe's southern countries, i.e. Spain, Portugal, Italy and Greece, have been hurt the most by the economic crisis that has hit the Old Continent. In an effort to reduce the public deficit by €65 billion (US$82 billion) by the end of 2014,...
- 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...
- Record Numbers For Mexican Auto Industry In The First Five Months Of The Year
The Mexican Automobile Industry Association, or AMIA, said on Monday that production and exports of cars and light trucks hit record numbers both in May and during the first five months of the year, according to a report from the Wall Street Journal....
- Hyundai Sells Over A Million Vehicles, Kia More Than 630,000 In The First Quarter Of 2012
Business is booming for South Korea's Hyundai Group that reported its first quarter results. The Hyundai brand sold an impressive 1,072,679 new vehicles worldwide (domestic: 154,800 / overseas: 917,879) in the first three months of 2012, up 16.7...
- 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...