Ford Motor Company's July U.S. Sales Rose 1.5%
Aug 1, 2002
DEARBORN, Mich., Aug. 1 U.S. customers purchased or leased 319,975 cars and trucks from Ford, Mercury, Lincoln, Jaguar, Volvo, and Land Rover dealers in July, up 1.5 percent compared with a year ago.Year-to-date, the company's U.S. sales totaled 2.1 million, down 9.1 percent compared with a year ago.Higher sales to ind ... Continue reading
J.D. Power Dealer Satisfaction With Automotive Finance Providers Tie Record Levels
Jul 30, 2002
WESTLAKE VILLAGE, Calif.--July 30, 2002-- Auto Manufacturer Finance Companies Substantially Outperform Banks and Independents Fueled by zero-percent financing and accelerated auto sales, dealer satisfaction with automotive finance providers is at a record high, according to the J.D. Power and Associates 2002 Dealer Fin ... Continue reading
Hyundai Motor Finance Company Staffs 75 New Positions With Outsourced Employees
Jul 29, 2002
BURBANK, Calif.--July 29, 2002--OnStaff, Inc. today announced its multi-year staffing contract with automotive giant Hyundai Motor Finance Company that is expected to produce significant revenue for OnStaff. According to the agreement, OnStaff will provide skilled employees to a number of Hyundai's corporate department ... Continue reading
Union Acceptance Corporation Announces Results for the Quarter Ended June 30, 2002
Jul 23, 2002
INDIANAPOLIS--July 22, 2002--Union Acceptance Corporation ("UAC") today announced financial and operational results for the quarter ended June 30, 2002. Results reflect UAC's strategic initiatives which consist of a comprehensive expense reduction plan, extensive technology upgrades focused on improving efficiencies in ... Continue reading
General Motors' Wagoner builds 2nd-quarter net, anxiety
Jul 17, 2002
July 17, 2002 Alison Fitzgerald writing for Bloomberg News reported that "General Motors Corp. Chief Executive Officer Rick Wagoner has convinced many investors that he knows how to make money making cars. He did it again in the second quarter, generating net income of $2.43 a share. What has had them worried is whethe ... Continue reading
Ford Reports Second Quarter Net Profit of $570 Million
Jul 17, 2002
--> DEARBORN, Mich., July 17 - Ford Motor Company today reported a net profit of $570 million, or 29 cents per share, in the second quarter of 2002. Excluding unusual items related to the European end-of-life vehicles' directive and Statement of Financial Accounting Standards (SFAS) No. 133, Ford earned an operating pr ... Continue reading
Ford Credit Earns $330 Million in the Second Quarter
Jul 17, 2002
DEARBORN, Mich., July 17 Ford Credit earned $330 million in the second quarter of 2002, compared with $367 million in the same period a year ago. Excluding adjustments related to SFAS No. 133 (Accounting for Derivative Instruments and Hedging Activities), Ford Credit earned $343 million, down $56 million from earnings ... Continue reading
Jul 16, 2002
DETROIT – General Motors Corp. today reported earnings nearly doubled in the second quarter of 2002 compared with the prior-year period, reflecting improved retail sales performance, increased production in North America, and a continued focus on cost reduction. GM earned $1.5 billion, or $2.63 per diluted share ... Continue reading
Jul 13, 2002
The FinancialTimes story by Rebecca Knight stated that FleetBoston Financial said on Friday that it will wind down the investment banking operations of Robertson Stephens after failing to find a willing taker for the troubled investment bank. The move ends months of speculation about the fate of the money-losing group. ... Continue reading
Press Release: Volkswagen Canada Inc. & VW Credit Canada, Inc.
Jul 12, 2002
Press Release: Volkswagen Canada Inc. & VW Credit Canada, Inc. Date of Release: Jul 11, 2002 Confirms at A (high) & R-1 (middle) David Schroeder, Kam Hon / 416-593-5577 ext.2232, ext.2243 / dschroeder@dbrs.com The ratings are confirmed as indicated based on the guarantee from the parent, Volkswagen AG ("VW" or "the Com ... Continue reading
Ford, GM Shares Fall, Drive Down Dow
Jul 11, 2002
DETROIT (AP) -- Banc of America downgraded General Motors and Ford stock on Wednesday, driving the Dow Jones industrials down more than 280 points to close below 9,000 for the first time since October. GM slid $3.53 to $47.61, and Ford declined $1.12 to $13.99, after Banc of America analyst Ron Tadross downgraded the s ... Continue reading
RouteOne Big Three Joint Credit Company Names Core Executive Team
Jul 9, 2002
SOUTHFIELD, Mich., July 9 -- RouteOne, a joint venture established in April 2002 to develop an online credit application management system, announced its core executive team today. According to Mike Jurecki, president and chief executive officer of RouteOne, the team includes Michael P. Webster, chief operating officer ... Continue reading
Indian Car Maker Tata: June Vehicle Sales up 31.3%
Jul 9, 2002
BOMBAY, July 8 Reuters reported - Indian vehicle maker Tata Engineering and Locomotive Company (TELCO) said on Monday it had recorded a 31.3 percent rise in domestic sales to 16,853 vehicles in June over a year earlier. It said commercial vehicle sales rose 27 percent over a year earlier to 7,700 units. Passenger car s ... Continue reading
Ona-Offa - Italian Gov Official-"Fiat Not Planning to Sell Car Business
Jul 9, 2002
ROME, July 8 Reuters reported that Italian Industry Minister Antonio Marzano said on Monday that industrial group Fiat had assured him that contrary to speculation it was not planning to sell off its struggling car operations. Asked by reporters if Fiat planned to sell its auto arm, Marzano replied: "I have had assuran ... Continue reading
Arrow Capital Signs New Vendor Program With Myers Tire Supply
Jul 8, 2002
SAN JOSE, Calif., July 8 -- Arrow Capital Corporation, a financial services company, announced that it has signed a vendor program agreement with Myers Tire Supply, a division of Myers Industries and the largest U.S. wholesale distributor of equipment and supplies for tire, wheel and allied service needs. Myers will us ... Continue reading
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