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Thursday, Oct. 27, 2011 RSSSEND TO A FRIENDPRINT
 
Volkswagen Profit Surges as Deliveries of Audi A6, Tiguan SUV Increase
Some Losers in Consumer Reports Reliability Survey Are Winners in Showrooms
Buyers Want Trucks, So Ford Will Build More
House to Repeal Law Withholding Contractors' Taxes
Committed to Community: Local Car Dealers Drive Away the Cold
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Volkswagen Profit Surges as Deliveries of Audi A6, Tiguan SUV Increase

Volkswagen AG, Europe’s largest automaker, said third-quarter operating profit surged 46 percent on demand for Audi and VW brand sport-utility vehicles. Profit beat the 2.61 billion-euro average estimate of 15 analysts surveyed by Bloomberg. The shares rose the most in more than two years. Chief Executive officer Martin Winterkorn is expanding in China and the U.S. in a bid to surpass Toyota Motor Corp. as the world’s biggest carmaker. The German manufacturer has a goal of boosting deliveries 11 percent this year to a record 8 million vehicles.
Source: Bloomberg

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 Hyundai Motor Third-Quarter Profit Rises 21%, Helped by Sonata Sedan Sales (Bloomberg)

 Daimler Q3 Hit by Weak Cars Business in Europe (Reuters)

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Some Losers in Consumer Reports Reliability Survey Are Winners in Showrooms

The Consumer Reports Annual Auto Reliability Survey, released on Tuesday afternoon, is intended to provide shoppers with a sense of the projected reliability of new models. But as the sales of some new cars indicate, a poor showing in the study does not translate to poor performance in the marketplace. The Chevrolet Cruze, equipped with either the 1.4-liter or 1.8-liter engine, received the worst rating of any small car in the survey. Through September, however, Chevy had delivered 187,524 Cruzes in the United States, making it the highest-selling car in its segment, according to data provided by J.D. Power & Associates.
Source: The New York Times

Related article

 Ford CEO Mulally: Reliability Problems Definitely Fixed (USA Today)

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Buyers Want Trucks, So Ford Will Build More

Ford Motor, which is relentlessly converting truck factories to car production, says that nevertheless, two-thirds of its planned 660,000-vehicle North American output in the fourth quarter will be trucks -- pickups, vans, SUVs. "It's demand-driven. We will produce what the customer wants, and we're seeing demand, especially for pickups," Ford CFO Lewis Booth said [Wednesday]. Ford's F-series pickups are the best-selling vehicles in the U.S. and have been for more than two decades.
Source: USA Today

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House to Repeal Law Withholding Contractors' Taxes

In a rare show of unity in a bitterly partisan year, the House moved Thursday toward an overwhelming vote to repeal a law requiring federal, state and local governments to withhold 3 percent of what contractors are owed until they pay their taxes. Federal investigators have found tens of thousands of contractors who owe billions of dollars to the U.S. government. The 5-year-old statute was designed to force scofflaws who perform government work to pay up. That drive to crack down on tax cheats now ranks well behind a stronger political imperative - lawmakers' desire to show voters they are trying to preserve jobs. [President Barack] Obama supports scrapping the withholding law. The government would lose an estimated $11 billion by repealing the law.
Source: The Associated Press

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Committed to Community: Local Car Dealers Drive Away the Cold

Local car dealers came together Monday afternoon to drive away the cold for youths in the North Penn and Indian Valley region. The Automobile Dealers Association of Greater Philadelphia dropped off more than 300 coats to the Lansdale branch of the North Penn YMCA as part of its Auto Dealers CARing for Kids initiative. According to Jay Haenn, of Lansdale Chrysler-Dodge-Jeep in Montgomeryville, dealers pledged a number of coats for every vehicle sold at their dealerships. "Out of 150 dealers in the five-county area, 139 participated," Haenn said.
Source: Patch Media (Montgomery, Pa.)

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Quotable
"We will produce what the customer wants, and we're seeing demand, especially for pickups."

    -- Ford CFO Lewis Booth, who says two-thirds of the automaker's planned 660,000-vehicle North American output in the fourth quarter will be trucks, USA Today, Oct. 26
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