GM Confirms H3 Details, "Alpha" Hummers
GM Earns $1.3 Billion in Q2 (7/21/2004)
Disappointing news on the market-share front.
AK Case Casts Harsh Glow on In-Dash DVD
Camry Sudden-Accel Investigation Closed
The National Highway Traffic Safety Administration (NHTSA) has closed an investigation that studied whether the Toyota Camry and Lexus ES300 accelerated suddenly, out of driver control. While the agency said it will continue to monitor the vehicles in question for more reports, it concluded that no defect in the vehicles caused unintended acceleration. The NHTSA had received reports of 30 crashes that were deemed worthy of investigation. Vehicles from the 2002 and 2003 model years were studied.
Spy Shots: '06 Cadillac DeVille
2006 Cadillac DeVille
Spy Shots: '06 Cadillac DeVille (7/25/2004)
Sticking with the front wheels.
Spy Shots: '06 Jeep Commander
2006 Jeep Commander
Spy Shots: '06 Jeep Commander (7/25/2004)
Could it be the new Wagoneer?
Spy Shots: '06 Chevy HHR
2006 Chevrolet HHR
Spy Shots: '06 Chevy HHR (7/25/2004)
The "heritage high roof" becomes more than an homage.
Sonic Earnings Up Despite Vehicle Sales Downturn
New-vehicle unit sales declined but net profits rose for Sonic Automotive in the second quarter, reports the Charlotte, North Carolina-based megadealer. Company executives attributed the upbeat earnings result in the face of a soft market to a shutoff of acquisitions and a focus on expense control as the 150-store network raised its quarterly dividend from 10 cents to 12 cents and maintained its forecast of earnings for calendar 2004 to $2.65-$2.80 per share. Sonic President and COO Jeffrey C. Rachor said net income for the April-June quarter reached $30.0 million, compared to $28.5 million a year ago. Total revenues increased $53.9 million to $1.87 billion in the period, even though new-vehicle retail sales, excluding fleet, declined from 37,015 to 35,655 and used-unit sales from 58,773 to 56,563.
One of the fastest-growing dealer networks until last year, Sonic ordered a cessation of acquisitions for the balance of 2004 after completing purchase of 18 foreign-brand stores in the Houston-based Momentum group July 1. Rachor said the
Sonic's gross profit margin on new vehicles rose to an average 7.5 percent in the quarter from 6.7 percent a year ago, reflecting the company's strategy to emphasize profits per vehicle and expense control. CFO Lee Wyatt said sharply increased new-car rebates from the Big Three in July have "stimulated sales that continue pressure on sales of late-model used units." -Mac Gordon
FROM THE SOURCE headlines from the latest press releases
High gas prices haven't satiated Americans' love of driving, said TechnoMetrica Market Intelligence today, with one out of five saying that they will likely purchase or lease a vehicle within the next six months, according to the inaugural wave of its Consumer Auto Demand Tracker(SM) series of reports. Ford, American mainstay and industry powerhouse, leads the way among brands, followed by Chevrolet. Asia's auto-juggernauts
|American Axle & Mfr. Holdings Inc.||AXL||34.13|
|Ballard Power Systems Inc.||BLDP||6.54|
|Collins & Aikman Corporation||CKC||5.12|
|DaimlerChrysler AG (ADR)||DCX||44.28|
|Dura Automotive Systems||DRRA||8.38|
|Ford Motor Company||F||14.88|
|General Motors Corporation||GM||43.46|
|Goodyear Tire & Rubber||GT||10.36|
|Honda Motor Co. Ltd. (ADR)||HMC||23.08|
|Johnson Controls Inc.||JCI||56.40|
|Magna International Inc.||MGA||80.05|
|Nissan Motor Co. Ltd. (ADR)||NSANY||21.16|
|Sonic Automotive Inc.||SAH||21.52|
|Sirius Satellite Radio||SIRI||2.51|
|Toyota Motor Corporation (ADR)||TM||78.30|
|TRW Automotive Holdings||TRW||20.20|
|Tower Automotive Inc.||TWR||3.25|
|United Auto Group Inc.||UAG||27.27|
|XM Satellite Radio Hold.||XMSR||25.06|