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BRIEFS - Ford net income jumps

Published:Sunday | October 31, 2010 | 12:00 AM

  • Ford net income jumps

Its popular new cars and trucks are grabbing a bigger share of the United States market. It's about to erase a big chunk of its health-care debt. And it's adding a significant number of jobs for the first time in five years.

Last Tuesday, the automaker said it made US$1.7 billion from July through September, a jump of nearly 70 per cent from a year earlier, and its sixth consecutive quarter in the black.

The news puts Ford further ahead of its rivals as the US auto industry slowly turns around. Chrysler has yet to make a profit after a stay in bankruptcy last year. General Motors is making money but losing market share - and still partly government-owned.

  • Profit soars at Honda, Mazda


Japanese automakers Honda and Mazda posted hefty profits despite a strengthening yen, as the global recovery and government incentives for green cars drove sales higher.

Honda, the manufacturer of the Insight hybrid, Accord sedan and Asimo human-shaped robot, said Friday its second-quarter profit more than doubled to 135.93 billion yen (US$1.68 billion), from 54 billion yen the year before.

Tokyo-based Honda Motor Co also raised its profit forecast for the full year through March 2011 to US$6.2 billion from its earlier projection of US$5.6 billion. That would mark an 86 per cent jump from the previous year.

Mazda's second-quarter profit surged more than 10-fold as car sales grew at home and abroad. Its net profit was US$94.4 million for July-September.

  • New claims against Toyota


Toyota Motor Corp bought back cars from drivers who reported sudden acceleration defects, but the company didn't tell federal regulators about the problem, according to court documents filed in the sprawling litigation against the automaker.

Plaintiffs' lawyers contend the Japanese company compelled the owners to sign confidentiality agreements that prevented them from speaking publicly about the issues they encountered.

In some cases dating back to 2006, Toyota's own technicians experienced the vehicles speeding up without pressing the gas pedal, according to the documents filed Wednesday in US District Court.