Archive for the ‘sales’ Category

Toyoto Passes GM in Sales; GM Fears Cash Collapse

January 21, 2009

Poor GM.  It may run out of money before March 31st, and for the first time ever, Toyota sold more cars than the stuggling U.S. automaker.

General Motors sold fewer cars globally than Toyota last year, as the Japanese automaker passed the Detroit company for the first time. GM says it sold 8.356 million cars and trucks in 2008, falling about 616,000 vehicles short of Toyota’s total of 8.972 million.  General Motors Corp. posted an 11 percent drop for the year, while Toyota’s sales fell 4 percent.

Associated Press

And now GM needs some money – quick!

The target date for General Motors Corp. to get its second installment of government loans passed last week, but a top company executive says he expects the money to arrive in the next several days.

Fritz Henderson, GM’s president and chief operating officer, said without the second installment of $5.4 billion, the company would run out of cash long before March 31.

In December, the Treasury Department authorized $13.4 billion in loans for GM and another $4 billion for Chrysler LLC to keep both automakers out of bankruptcy.

Read the rest:
http://www.nydailynews.com/money/2009/01/2
1/2009-01-21_general_motors_may_run_out_o
f_cash_by_ma.html

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China’s tanks, aircraft challenge Russian sales in Africa

January 1, 2009

Ghana traditionally has been a client country of Western weapons manufacturers. It does have some Russian equipment in service, however, including SAM-7 surface-to-air missiles, Zu-23-2 air defense machine guns and D-30 122-mm howitzers.

UPI

The People’s Republic of China is now promoting its latest gun-launched laser-guided projectiles on the African continent. At least one African country is already equipped with the Chinese-made GP1 155mm laser-guided projectiles, which are a Chinese version of Russia’s Krasnopol GLLGP, the technology for which was transferred to China by Russia’s KBP Design Bureau in 1997.

Chinese arms are also actively penetrating North Africa’s Arab countries. Algeria has been a typical purchaser of Russian equipment. The Algerian army has 320 T54/55 Main Battle Tanks and 350 T72 Main Battle Tanks, as well as AT-3, AT-4 and AT-5 anti-tank missiles, 289 BMP-1/2 IFVs and SAM-7, SAM-8, SAM-9 and SAM-14 ground missiles.

The Algerian air force is armed with 43 Mikoyan-Gurevich MiG-21MFs, 30 Mikoyan-Gurevich MiG-23B/Es, 28 Mikoyan-Gurevich MiG-23Fs….

Read the rest:
http://www.upi.com/Security_Industry/2008/12/31/Chinas_
tanks_aircraft_challenge_Russian_sales_in_Africa/UPI-9
9791230754263/

Economy Shrinking: Expects More Gloomy Retail, Inventory Data

December 12, 2008

The government is expected to provide fresh evidence Friday that retailers are taking a hit as consumers continue to pull back amid what appears to be a deepening recession.

By CHRISTOPHER S. RUGABER, AP Economics Writer

Wall Street economists expect retail sales in November fell 1.9 percent, according to a survey by Thomson Reuters.

That would be an improvement over October’s record 2.8 percent drop, but still the fifth straight monthly decline reported by the Commerce Department.

The report comes a day after the Labor Department said initial jobless claims rose to the highest level in 26 years, though the work force has grown by about half over that time.

Read the rest:
http://news.yahoo.com/s/ap/20081212/ap_on_bi_ge/financial_m
eltdown;_ylt=AvwGdvV5Q365QBdEoTuZhHSs0NUE