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Inside this issue
Toyota Raises Sales Forecast, May Extend Lead Over GM, VW
After a Loss in Europe, G.M. Plans Fast Action
Akerson: GM's Marketing Approach Not the Result of 'One Individual'
Internal-Combustion Engine to Enjoy Long Life, U.S. Study Finds
Volkswagen Recruits from McDonald's for Plant Workers
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Top Stories
Toyota Raises Sales Forecast, May Extend Lead Over GM, VW

Toyota Motor Corp., which outsold General Motors Co. and Volkswagen AG for two straight quarters, may extend the lead after the Japanese carmaker raised its sales forecast for 2012. Toyota, plagued by natural disasters in 2011, benefited as the Prius hybrid helped sales almost double in Japan, while demand for the Camry continued to exceed that of any car in the U.S. The company, led by President Akio Toyoda, is now counting on the U.S. demand to help sustain earnings growth as analysts project Japan sales to slow after government subsidies run out later this year.
Source: Bloomberg

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After a Loss in Europe, G.M. Plans Fast Action

General Motors vowed Thursday to accelerate changes at its troubled European division after a loss in the region dragged down the company’s profit by 41 percent in the second quarter. G.M. said its net income in the quarter fell to $1.48 billion, from $2.52 billion in the same period a year earlier. While the company’s North American and Asian businesses posted strong results, it lost $361 million in Europe compared to an operating profit of $102 million a year ago.
Source: The New York Times

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Akerson: GM's Marketing Approach Not the Result of 'One Individual'

CEO, in wake of Ewanick's sudden departure, tells analysts strategy was team effort

General Motors Co. CEO Dan Akerson, referring to the impact of Joel Ewanick's exit, told analysts and reporters yesterday that the automaker's marketing is a group effort, not a one-man operation.
Source: Automotive News

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Internal-Combustion Engine to Enjoy Long Life, U.S. Study Finds

The internal-combustion engine, propelling U.S. automobiles since before the Model T Ford, will remain the dominant power source for cars until at least 2050, according to a study by a panel advising the Energy Department. The National Petroleum Council said high costs and technology hurdles will impede any substitute technologies such as batteries and hydrogen fuel cells, which have been promoted by presidents Barack Obama and George W. Bush. The petroleum council, which includes representatives from industry, government and universities, said U.S. policies should be “technology neutral” and depend on “market dynamics” to pick winners and losers.
Source: Bloomberg

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Volkswagen Recruits from McDonald's for Plant Workers

Here's one reason why Volkswagen likes hiring former fast-food employees for its 2.5 million-square-foot plant here in the heart of the Tennessee Valley. "Inexperience is a key," said Gary Booth, director of the Volkswagen Academy training operation. "Some of our best employees came from McDonald's. They know standardized work."
Source: USA Today

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Quotable
"The internal-combustion engine will remain the "dominant propulsion system for decades to come."

   
-- Bill Reinert, a Toyota Motor Corp. executive and a co-author of a study for the Energy Department, Bloomberg, Aug. 1


 




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