News Tag: cash for clunkers
January 28, 2010
US carmaker Ford has today reported its first annual profit since 2005 after a turbulent 12 months for the American car industry.
The company reported an annual net profit for 2009 of $2.27 billion (£1.4 billion) compared with a loss of $15 billion in 2008.
Meanwhile, for the fourth quarter of 2009, profit was $868 million - a significant improvement on the loss ...
Ford returns to profitability amid cost-cutting
by Kay Murchie
November 16, 2009
Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%.
The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ scheme coming to an end.
Excluding ...
US retail sales up 1.4% in October
by Kay Murchie
October 30, 2009
The Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme, is believed to have contributed to the fall in US consumer spending, which fell for the first time in five months in September, and was the largest decline since December.
According to the US Commerce Department, spending fell 0.5% in the month, compared with a rise of 1.4% in ...
US consumer spending falls in September
by Kay Murchie
October 29, 2009
Official figures today have revealed that the US economy expanded at an annualised rate of 3.5% between the July and September period, suggesting that the economy has exited its worst recession in 70 years.
The figures have come as no surprise after many economists had expected that the economy would experience positive growth in the third quarter.
The growth pace in GDP ...
World’s largest economy sees third quarter growth
by Kay Murchie
Has the world’s largest economy exited recession?
by Kay Murchie
October 16, 2009
There are signs of recovery within the US manufacturing sector after the Federal Reserve reported a rise in industrial production for the month of September.
The US central bank said output at the nation's factories, mines and utilities grew 0.7% during the month - higher than the 0.2% rise expected by analysts and follows the rise of 1.2% in August.
However, ...
US industrial production sees third straight monthly gain
by Kay Murchie
October 14, 2009
The Commerce Department today revealed a fall in US retail sales for the month of September as the US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme ended.
According to the organisation, retail sales in the world’s largest economy fell 1.5% on the month - the largest amount in 2009 to date.
The news comes after a ...
US retail sales fall as scrappage scheme ends
by Kay Murchie
September 2, 2009
The US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme has boosted car sales with Ford reporting a 17% rise in sales in August compared with July.
General Motors (GM) said sales had soared by 30% from July this year but did report a 20% drop in year-on-year sales.
Overall, total industry sales rose ...
Popular US Cash for Clunkers scheme comes to an end
by Kay Murchie
August 16, 2009
Demand for cars and carmakers has resulted in a rise of 0.5% in US industrial output for the month of July - boosted by the US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme.
The rise was the first in 9 months and exceeded analysts forecasts.
The rise in industrial output was also due to the reopening ...
‘Cash for Clunkers’ scheme boosts US industrial output
by Kay Murchie
August 7, 2009
The Labor Department has revealed some good news for the world’s largest economy today, showing that the 247,000 jobs were lost in July - much less than analysts had forecast.
The decline meant the unemployment rate dropped from 9.5% in June to 9.4% in July - the first fall since April 2008.
Analysts had expected the so-called 'non-farm payroll' to fall by ...
US unemployment rate in shock fall
by Kay Murchie
US scrappage scheme receives further $2bn
by Kay Murchie
August 4, 2009
It seems that the US Government's Car Allowance Rebate System (CARS), branded the "cash for clunkers" scheme is proving successful after July has been the best month for sales in almost a year.
While both Chrysler and General Motors (GM) posted a fall in sales, Ford reported that sales were up 2.3% from a year ago.
Chrysler reported a fall in sales of ...
US vehicle sales improve in July
by Kay Murchie
