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SAIC 2007 profit triples
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SAIC Motor Corp., China, the largest automaker, said profit more than tripled in 2007, after buying shares in companies with General Motors Corp. and Volkswagen AG. Net income increased to 4.63 billion yuan ($ 659 million), representing a share of 0.7 yuan from a revised 1.36 billion yuan, Shanghai-car manufacturers, said in a statement on the Exchange. Turnover jumped 104.4% to 433 billion yuan. General Motors Corp., plans to increase production of vehicles powered by natural gas in Thailand this year, as a government cap on the price of fuel for the turnover of more than ten. GM built natural gas by more than 6500 cars, trucks and other vehicles in Thailand in the year 2008, compared to 600 during the past year, “said Stephen Carlisle, the president of GM South East Asia Operations. Thailand has price cap natural gas for vehicles over Baht 8 a kilo, which is about one third the price of petrol and diesel. The policy has led to a sharp increase in demand for cars, businesses located in Detroit, the only car manufacturer, natural gas vehicles in the country. “We are faced with a lack of capacity, as the orders of our Chevrolet Optra car with a natural gas have increased almost tenfold this year,” Carlisle said in an interview Tuesday. Thailand aims to have over 20% of natural gas vehicles by the end of 2012. Cerberus Capital Management, LP, deceit Canadian Auto Workers on plans to promote LLC Chrysler’s share of the North American market and job retention when it comes to taking charge of buying automakers, the union, the president said. Cerberus Stephen Feinberg president of the CAW had said “that they are not in slices and dice and sell them, Buzz Hargrove, said in an interview.” He is trying to cut its way to profitability, unlike companies to grow. ” As in August have Cerberus, Auburn Hills-Chrysler has compared the four models and tries to trim more than 12,000 workers in the automotive market in North America deteriorated. Chrysler last week, he said the need to reduce its SUV offerings for the half. “It’s fantastic, Cerberus, but it is not good for the workers, because many people lose their jobs, and many have lost their jobs,” said Hargrove, Wednesday in New York. |
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