Wednesday, November 2, 2011

Automotive News

Chevrolet celebrates their 100th birthday today.  Shortly after the original founder of GM (William Durant) was forced to leave General Motors, Durant teamed up with the Swiss born American race car driver Louis Chevrolet to form Chevrolet Motor Car Company.  Fast forward 100 years and Chevrolet has become GM's most successful branch, creating some amazing cars such as the Camaro, Corvette and Volt.

Ford Motor Co. reported a 2% drop in earnings to $1.65 billion most of which is due to uncertainty in Europe, volatile prices for steel and other resources.  Ford is also hurting due to moving into China much later than their rival, General Motors.  Costs for developing vehicles for Asian markets and building plants are putting the hurt in Ford Motor Co. wallet.

Honda and Toyota are seeing their smallest market share since 2004.  Much of this is associated with a strong Japanese yen, two natural disasters and various other internal mishaps.

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