Edan, tenan! Modifikasi ini top banget, deh. Bayangkan, Ressan Wintananda, SE, pemilik Yamaha Mio 2005 mengubahnya jadi model sport. Bergaya klasik pula. Reza, begitu dirinya sering disapa, memang ingin lepas dari aliran gaya low rider, hot rod atau drag style yang lagi digandrungi para builders skutik.
Wednesday, July 22, 2009
Edan, Tenan! Yamaha Mio Jadi Motor Sport Klasik
Edan, tenan! Modifikasi ini top banget, deh. Bayangkan, Ressan Wintananda, SE, pemilik Yamaha Mio 2005 mengubahnya jadi model sport. Bergaya klasik pula. Reza, begitu dirinya sering disapa, memang ingin lepas dari aliran gaya low rider, hot rod atau drag style yang lagi digandrungi para builders skutik.
Chrysler Incentives for July and August 2009
Chrysler Group is offering consumers $4,500 on most of its 2009 models, doubling the cash-for-guzzlers incentive offered by the federal government.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
Chrysler Incentives for July and August 2009
Chrysler Group is offering consumers $4,500 on most of its 2009 models, doubling the cash-for-guzzlers incentive offered by the federal government.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
Chrysler Incentives for July and August 2009
Chrysler Group is offering consumers $4,500 on most of its 2009 models, doubling the cash-for-guzzlers incentive offered by the federal government.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
"Double Ca$h for Your Old Car," offers up to $4,500 cash or 0 percent financing for 72 months on qualifying new vehicles, even if the consumer's trade-in doesn't qualify for the federal incentive.
The program starts tomorrow and runs through August, Chrysler announced this morning.
"We didn't want consumers without qualifying vehicles to feel left out, so we are offering up to $4,500 to everyone," said Steven Beahm, Chrysler's vice president for sales operations.
Chrysler emerged from six weeks of Chapter 11 reorganization on June 10, and now is controlled by Italian automaker Fiat S.p.A. Through the first half of the year, Chrysler's U.S. sales plummeted 45.7 percent to 471,197 vehicles.
The cash-for-guzzlers legislation, designed to help lift U.S. light-vehicle sales from 27-year lows, provides vouchers of $3,500 to $4,500 to consumers who trade in their rides for new vehicles that are more fuel-efficient. Congress allocated $1 billion to fund the program, which expires Nov. 1.
New cars eligible for the federal incentive must have combined highway and city fuel economy of at least 22 mpg, and small light trucks must have combined fuel economy of at least 18 mpg. New vehicles must have a suggested retail price of $45,000 or less.
Trade-ins eligible for "cash for guzzlers" must be drivable, less than 25 years old and have combined fuel economy of 18 mpg or less. They must have been continuously insured and registered to their owners for at least one year.
Vehicles not included in Chrysler's offer are the Jeep Wrangler, Dodge Challenger and Sprinter and all SRT products.
Chrysler had told dealers that its current incentives would last through July. But some dealers had said they believed customers were holding out in hopes of getting more money for their old vehicles under the cash for guzzlers program.
Said Kathy Graham, Chrysler spokeswoman: "We were hearing from a lot of people who thought they could buy with cash-for-clunkers. But then realized for one reason or another their car didn't qualify. We looked at putting an incentive package together that appealed to everybody."
The National Highway Traffic Safety Administration is drawing up rules for the cash-for-guzzlers program and is scheduled to release them by the end of the week.
Q2 2009 Auto Sales: GM Global Sales Fall 15%
General Motors Co. reported this morning it sold 1.94 million vehicles globally during the second quarter, down 15 percent from a year earlier due to continued economic pressures and a drastic cut in vehicle production.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
Q2 2009 Auto Sales: GM Global Sales Fall 15%
General Motors Co. reported this morning it sold 1.94 million vehicles globally during the second quarter, down 15 percent from a year earlier due to continued economic pressures and a drastic cut in vehicle production.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
Q2 2009 Auto Sales: GM Global Sales Fall 15%
General Motors Co. reported this morning it sold 1.94 million vehicles globally during the second quarter, down 15 percent from a year earlier due to continued economic pressures and a drastic cut in vehicle production.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
But compared to the first quarter, sales were up almost 20 percent.
Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.
Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.
"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."
GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.
GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
Q2 2009 Auto Sales: Fiat Reports Second Consecutive Loss on Truck
Fiat SpA, the Italian carmaker that acquired a stake in Chrysler LLC, reported a second consecutive quarterly loss as slumping truck and equipment sales offset an improvement in auto deliveries in western Europe.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
Q2 2009 Auto Sales: Fiat Reports Second Consecutive Loss on Truck
Fiat SpA, the Italian carmaker that acquired a stake in Chrysler LLC, reported a second consecutive quarterly loss as slumping truck and equipment sales offset an improvement in auto deliveries in western Europe.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
Q2 2009 Auto Sales: Fiat Reports Second Consecutive Loss on Truck
Fiat SpA, the Italian carmaker that acquired a stake in Chrysler LLC, reported a second consecutive quarterly loss as slumping truck and equipment sales offset an improvement in auto deliveries in western Europe.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
The net loss of 168 million euros ($239 million) in the second quarter missed the average estimate of a 158.4 million- euro loss from five analysts surveyed by Bloomberg. Turin-based Fiat had net income of 604 million euros a year earlier.
Fiat, led by Chief Executive Officer Sergio Marchionne, gets about two-thirds of its operating income from the Iveco trucks and CNH agricultural and construction equipment units, where sales declined because of the global recession. Truck deliveries plunged 43 percent and sales of agricultural and construction equipment fell 21 percent at CNH, Fiat said.
“The truck business is facing a collapse in sales,” said Eric-Alain Michelis, an analyst at Societe Generale SA, in a Bloomberg television interview. “CNH is also having a tough time.”
Fiat predicted that the market for trucks and construction equipment will suffer for the rest of the year, with some chance of a recovery in the fourth quarter.
Fiat’s revenue fell 23 percent to 13.2 billion euros, the manufacturer said today in a statement. That missed the 13.96 billion-euro average estimate of 12 analysts.
Chrysler Integration
The carmaker didn’t address progress on integrating Chrysler in its earnings statement, though it reiterated in an analysts’ presentation that the company won’t make a cash investment. CEO Marchionne acquired 20 percent of the maker of the Dodge Challenger and Jeep models last month as it emerged from bankruptcy.
Fiat said it increased market share for autos, especially in Germany, with models including the Grande Punto and Panda hatchbacks. Government-funded incentives for consumers to buy new cars have boosted sales or slowed declines, and have particularly benefited companies such as Fiat that have deep lineups of small cars.
Fiat fell as much as 28.5 cents, or 3.6 percent, to 7.66 euros and was down 2.9 percent as of 3:32 p.m. in Milan trading, giving the company a market value of 9.2 billion euros.
Marchionne, long an advocate of industry consolidation, says a carmaker needs to produce at least 6 million vehicles annually to make money. The Chrysler deal brings production up to 4.5 million a year.
No Opel for Fiat
Fiat lost out on its bid to buy General Motors Co.’s Opel division after it declined to sweeten its offer. GM received three final bids July 20, including from Germany’s preferred candidate, Canadian auto-parts maker Magna International Inc.
“The long-term strategic issue regarding the lack of scale in the car market will continue to weigh on the stock,” said David Arnold, an auto analyst with Credit Suisse in London, who reiterated his advice to sell the shares.
Italy’s largest manufacturer, whose biggest investor is the Agnelli family, confirmed its full-year targets, saying trading profit, measured by earnings before interest, tax, and one-time items, will reach more than 1 billion euros this year.
The maker of Alfa Romeo and Lancia cars reported second- quarter trading profit of 310 million euros, compared with 1.31 billion euros a year earlier.
Revenue at Fiat Auto, which includes luxury brands Ferrari and Maserati, fell 12 percent to 7.4 billion euros, while trading profit fell 36 percent to 227 million euros.
Sales at CNH fell 21 percent to 2.9 billion euros and trading profit declined by more than half to 123 million euros. Sales of trucks and commercial vehicles at its Iveco unit dropped to 1.8 billion euros, while trading profit slumped to 18 million euros from 248 million euros.
Fiat said its net debt declined to 5.7 billion euros from 6.6 billion euros at the end of the first quarter. That compared with a 5.99 billion-euro average estimate by three analysts compiled by Bloomberg. Fiat reported a loss of 410 million euros in the first three months of this year.
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