Daily News Briefs: June 1, 2012

2012 Toyota Corolla

The first of the month can mean only one thing to followers of the automotive industry: sales numbers. In early reporting, Toyota says its sales for May shot up a dramatic 87.3% on an unadjusted basis compared with a year ago. Even though it's a big boost, the company remains in third place behind GM (up 11%) and Ford (up 12.6%), respectively. Chrysler Group also reported robust sales growth of 30%, with the Chrysler brand up 77%. We'll have more sales reporting later in the afternoon.

In other news:

  • Mazda will cut 250 jobs in Europe and the United States, according to Automotive News. The Japanese carmaker lost $1.3 billion altogether last fiscal year, and it hasn't made a profit in more than four years.
  • A123 Systems, a lithium-ion battery supplier to GM, Fisker and BMW, has told its investors that the company may run out of money, according to Reuters. The battery maker lost $125 million in the first quarter of 2012, mainly due to troubles at Fisker, one of A123's biggest clients.

Related
More Automotive Industry News 
More Automotive News on Cars.com 
More Best Sellers News

Comments 

s told its investors that the company may run out of money, according to Reuters. The battery maker lost $125 million in the first quarter of 2012, mainly due to troubles at

Post a Comment 

Please remember a few rules before posting comments:

  • If you don't want people to see your email address, simply type in the URL of your favorite website or leave the field empty.
  • Do not mention specific car dealers by name. Feel free to mention your city, state and brand.
  • Try to be civil to your fellow blog readers. This blog is not a fan or enthusiast forum, it is meant to help people during the car-buying process and during the time between purchases, so shoppers can keep a pulse on the market.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
view posting rules

If you have a TypeKey or TypePad account, please Sign In

Search Results

KickingTires Search Results for

Search Kicking Tires

KickingTires iPhone App
Ask.cars.com