Report: Maserati orders triple on strength of Quattroporte demand in China

Filed under: Car Buying, Sedan, China, Maserati, Luxury

2014 Maserati Quattroporte S Q4

Considering Maserati sold all of 6,300 cars globally in 2012, its goal of selling 50,000 by 2015 seemed like a bit of a stretch to say the least, but it turns the Fiat-owned automaker was on to something. Reuters is reporting that Maserati has already received about 17,000 orders for cars this year, with help from the new 2014 Quattroporte and strong demand in China.

The US continues to be the top market for Maserati sales, but the report quotes Harald Wester, brand chief executive, as saying that China is now the top market for Quattroporte. As big of an improvement as this is it bears mentioning that the Ghibli isn’t even on sale yet and the Levante SUV, a redesigned GranTurismo and a new 911-fighting coupe are still waiting in the pipeline.

Maserati orders triple on strength of Quattroporte demand in China originally appeared on Autoblog on Fri, 30 Aug 2013 17:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Continue reading “Report: Maserati orders triple on strength of Quattroporte demand in China”

Report: Ford books $1.2B profit in second quarter on strength of trucks

Filed under: Ford, Earnings/Financials

Ford logo

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.

According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford’s 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.

Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn’t alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Ford books $1.2B profit in second quarter on strength of trucks originally appeared on Autoblog on Wed, 24 Jul 2013 10:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Continue reading “Report: Ford books $1.2B profit in second quarter on strength of trucks”