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Ford posts $2.4 billion profit
Tue, 26 Jul 2011Ford Motor Company reported a profit of $2.4 billion on revenues of $35.5 billion, excluding Volvo, during the second quarter, the automaker said Tuesday. A year ago, Ford posted net profits of $2.6 billion on revenue of $35.07 billion, including Volvo. Excluding Volvo, Ford's revenue in the second quarter of 2010 was $31.3 billion.
GM stops works on electric version of Opel Adam
Thu, 08 Nov 2012Work has stopped on a planned electric version of the Opel Adam minicar due to high costs. The project had progressed to the development of a working car using technology from the upcoming Chevrolet Spark EV minicar. "It was a business decision," said Dieter Metz, Opel's chief engineer for the Adam.
General Motors board recommends selling Opel to Magna-led group
Thu, 10 Sep 2009General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.