Fiat, PSA and Volkswagen all report a higher profit thanks to cost-cutting and robust sales in emerging markets. VW posted a revenue increased of 5% and a 35% increase in net earnings for the second quarter of 2008 vs. a year earlier. Renault post a consolidated revenue up of 2.3% and an operating margin of 4.1% of revenues vs 3.5% in H1-2007.
JD Power and Associates has slashed its forecast for 2008 U.S. light vehicle sales by 750,000 units to 14.2 million—the lowest level since 1993. Sales last year were 16.15 million units. Power expect retail auto sales to drop 10% from last year to 11.6 million units because of the slowing economy, tight credit and steep fuel prices.
Global Insight Inc. estimates volume of 14.4 million and 14.2 million in 2008 and 2009, respectively.
Standard & Poor’s Corp. forecasts 14.4 million and 14.1 million, respectively, for those years
JD Power and Associates has slashed its forecast for 2008 U.S. light vehicle sales by 750,000 units to 14.2 million—the lowest level since 1993. Sales last year were 16.15 million units. Power expect retail auto sales to drop 10% from last year to 11.6 million units because of the slowing economy, tight credit and steep fuel prices.
Global Insight Inc. estimates volume of 14.4 million and 14.2 million in 2008 and 2009, respectively.
Standard & Poor’s Corp. forecasts 14.4 million and 14.1 million, respectively, for those years