The Carlovers Magazine

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• Continental’s Earnings Jump 62%
• GM Earnings Nearly Triple to $3.2 Billion
• GM Nearly Triples First-Quarter Profit
• Tata to Invest £5 Billion in Jaguar Land Rover Unit
• Germany Planning Big EV Support Program
• Oil Prices Drop Below $100 in 9% Freefall
• VW, SAIC to Partner on EVs in China
• Oil Futures Plunge Below $100
• Oil Futures Plunge Below $100
• 2012 Porsche Cayman S Black Edition – Car News

Continental’s Earnings Jump 62% Posted: Continental AG posted net income of €368 million in the first quarter, up from €228 million a year earlier. Operating income advanced 28% to €634 million as revenue climbed 23% to €7.3 billion. All three results were records for the period, and Conti predicts similar results through the remainder of [...]

GM Earnings Nearly Triple to $3.2 Billion Posted: General Motors Co. reported revenue of $36.2 billion in the first quarter of 2011, up 15% from a year earlier as global volume grew 11% to 2.2 million vehicles. The company's global market share advanced to 11.5% from 11.1% on robust demand in China and North America. Net income rose to [...]

GM Nearly Triples First-Quarter Profit Posted: General Motors Co.'s first-quarter revenue climbed 15% to $36.2 billion (€24.9 billion) and net income surged to $3.2 billion (€2.2 billion) from $865 million a year earlier. Unit sales rose 11% to 2.2 million vehicles for the period. First-quarter earnings before interest and tax nearly doubled to $3.5 billion (€2.4 billion), [...]

Tata to Invest £5 Billion in Jaguar Land Rover Unit Posted: Tata Motors Ltd., which acquired Jaguar and Land Rover from Ford Motor Co. for €1.4 billion three years ago, will invest €5.6 million in the two brands over the next five years to develop new models and engine technology, upgrade production facilities in the U.K. and perhaps erect an assembly [...]

Germany Planning Big EV Support Program Posted: The German government plans to drop motor vehicle taxes on electric vehicles for their first 10 years of registration in a bid to boost the country's EV population to 1 million units by 2020, according to German media reports. The subsidy is one of several proposals to be presented by Transport [...]

Oil Prices Drop Below $100 in 9% Freefall Posted: Crude oil futures plummeted $9.44 per barrel to $99.80 yesterday on the New York Mercantile Exchange, falling below $100 for the first time since mid-March. It was the sharpest one-day percentage decline in oil futures since April 2009. Crude futures have plunged more than $14 per barrel, or 12%, so far [...]

VW, SAIC to Partner on EVs in China Posted: Volkswagen AG and its SAIC Motor Corp. partner have inked a deal to jointly develop compact electric cars for the Chinese market, reports Guangzhou Daily. The newspaper says the companies will co-develop the vehicle's platform and drivetrain at VW's facilities in Germany. The joint program may be expanded [...]

Oil Futures Plunge Below $100 Posted: Crude oil futures plummeted 9% to $99.80 per barrel yesterday on the New York Mercantile Exchange, the sharpest one-day decline in two years. Futures dropped more than $14 per barrel, or 12%, in four days of trading this week. Analysts say the market has been reacting to indications that high energy [...]

Oil Futures Plunge Below $100 Posted: Crude oil futures plummeted 9% to $99.80 per barrel yesterday on the New York Mercantile Exchange, the sharpest one-day decline in two years. Futures dropped more than $14 per barrel, or 12%, in four days of trading this week. Analysts say the market has been reacting to indications that high energy [...]

2012 Porsche Cayman S Black Edition – Car News Posted: Shocked? Neither are we. Enticed? Yeah, us too. Black is perhaps most evocative of death or misfortune, but when sprayed on a car, it creates a sinister, menacing aura that we find more than a little alluring. It's not quite magical enough to make us think differently of, say, the Pontiac Aztek, but pour it [...]

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