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BMW Saves Money Thanks To Partnership With Mercedes-Benz
BMW announced today that it is on track to save about $5.2 billion by 2012, by spending less on components and through a strategic partnership with Mercedes-Benz. A report by Bloomberg said that BMW...
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Recalls Be Damned! Toyota Annual Profits Up 48 Percent
Despite record recalls and public humiliation over quality control scandals, Toyota announced that it expects to see a profit of $3.35 billion by the end of their fiscal year in March, a 48% increase....
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Jaguar Land Rover On Track Toward $1.6-Billion Profit
Five consecutive quarters of being “in the black” has paid off for Jaguar Land Rover. The luxury automaker is set to make over a billion pounds in profit ($1.6 billion) after strong sales around the...
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Tesla Posts Growing Loss, Signs Deal with Mercedes
The Tesla Roadster (right) has impressive acceleration and handling, you also never have to buy gas for it, but at more than $100,000 it’s pretty expensive. Their current one-car offering and the big...
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Ford, GM Move up in Fortune 500 Rankings
Every year the Fortune 500 rankings are announced, and it’s usually no surprise to see the big three on the list. This year, however, you’ll find only two of the domestic automakers, though both have...
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Tesla Shares Jump 24% After Maker Reports Profit
Tesla’s stock price rose 24 percent Wednesday after the electric car maker reported its first quarterly profit. The maker said that it’s first-quarter net income totaled $11.2 million, up from a $89.9...
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Ferrari Posts Rising Profit Despite Slower Sales
Profit increased for Ferrari through the second quarter despite the brand’s decision to slow production. Citing strong demand across its model range, the company reported a net profit increase of 20...
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Toyota Bumps Up Sales Forcast, On Pace For Largest Profit in Five Years
Toyota now expects to sell 2.63 million vehicles in North America following a strong third quarter of sales where the Japanese automaker outsold Ford Motor Company for the first time in 15 quarters....
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GM Second Quarter Profits Eviscerated by Recall Costs
Despite strong underlying performance, recall-related costs continued to rip cash away from General Motors in the second quarter. The company said today in a statement that earnings before interest...
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