Washington - Major automakers on Monday reported a sharp drop in October sales, while the manufacturing sector contracted the most in 26 years as the credit crisis continued to spread to the wider US economy.
Ford Motor Co said monthly sales dropped 30 per cent from the same period a year earlier. Japanese carmaker Toyota Motor Corp reported a drop of 23 per cent, Honda Motor Co's sales fell 25 per cent and Nissan Motor Co was down 33 per cent.
London, Nov 3: A car, based on Ferrari, could be flying its passengers to their desired location, within just two years time.
According to a report in the Telegraph, known as the ‘Autovolantor’, the car is based on a 200,000 pounds Ferrari 599 GTB, and is being developed by “Moller International”.
It will have the ability to take off vertically and hover, thanks to eight powerful thrusters which direct air down for take off. Vents then tilt so the car can fly forward.
The car is expected to be able to do 100mph on the ground and 150mph in the air. The calculated airborne range is 75 miles and ground range is 150 miles.
The net profit of Auto major Tata Motors declined 34 percent in the July-September period. Its net profit stands at Rs 346 crore which was Rs 526 crore last year. The company has to pay for high input cost, high interest rates and world financial crisis. The sale of auto major increased 7% to Rs 7029 crore in the same period. But its operating margin fell to 8.13% which was earlier 9.2%.
Stuttgart - Porsche joined other German carmakers Saturday in announcing a temporary halt to production because of dwindling sales triggered by the global economic crisis.
A spokesman for the sports carmaker in Stuttgart said the company was extending the Christmas holiday period for workers by three days.
He said the company's main plant at Zuffenhausen would remained closed from December 22 until January 9, 2009.
Tokyo - Nissan Motor Co sharply cut its earnings forecast for the full year that runs through March 2009 on the yen's rise and slow overseas sales, the company said Friday.
Japan's third-largest automaker lowered its net profit projection by 53 per cent to 160 billion yen for the full year from an initial forecast.
Nissan halved an operating profit forecast at 270 billion yen for the full year and lowered sales by 7.2 per cent to 9.6 trillion yen.
For the second quarter through September, the automaker saw its net profit fall 38.8 per cent to 73.5 billion yen from a year before.
Washington - Major automakers on Monday reported a sharp drop in October sales, while the manufacturing sector contracted the most in 26 years as the credit crisis continued to spread to the wider US economy.
Prague - South Korean car
The net profit of Auto major Tata Motors declined 34 percent in the July-September period. Its net profit stands at Rs 346 crore which was Rs 526 crore last year. The company has to pay for high input cost, high interest rates and world financial crisis. The sale of auto major increased 7% to Rs 7029 crore in the same period. But its operating margin fell to 8.13% which was earlier 9.2%.
Stuttgart - Porsche joined other German carmakers Saturday in announcing a temporary halt to production because of dwindling sales triggered by the global economic crisis.
Tokyo - Nissan Motor Co sharply cut its earnings forecast for the full year that runs through March 2009 on the yen's rise and slow overseas sales, the company said Friday.
