BMW Group recently handed over the first vehicle to the London Organising Committee of the Olympic Games (LOCOG) to support the 2012 Games - and it's a bicycle. Global sales and marketing director for BMW Group, Ian Robertson, handed the bike to David Stubbs, head of sustainability for LOCOG in central London, as the one-year-to-go point approached on 27 July.
A total of 400 BMW bicycles will be used by LOCOG in the run-up to and during the Games, and will be part of a wide range of vehicles supplied by BMW Group as a vital element of the company's Tier One sponsorship of London 2012. These different models have been chosen by LOCOG to meet the diverse operational needs of the Games.
"Everybody will be travelling to the Games by foot, bicycle or public transport wherever possible, said Stubbs, and the LOCOG team will be no exception to this. It is rather fitting, therefore, that the first vehicle we accept for the 2012 fleet is a bike.'
Goodyear Tire & Rubber Co reported a 43 per cent surge in second-quarter earnings Thursday, helped by a 24 per cent revenue increase.
But Chairman and CEO Richard J. Kramer expressed caution Thursday about its core North American market, however.
"These results will be difficult to repeat in the second half because of increasing raw material-cost challenges and uncertain economic conditions," he said.
Goodyear is the biggest tire maker in North America and the third biggest in the world.
Its shares dropped $1.24, or 7.2 per cent, to close Thursday at $15.93.
Ford can't make enough Focus cars to keep up with rising demand because of equipment problems that have caused a shortage of dashboards, two people familiar with the situation told The Associated Press.
Machinery that makes the skin that covers dashboards at a Ford parts factory outside Detroit works intermittently. That is forcing the company to take the unusual and costly step of flying in parts from Europe to keep its assembly lines moving, the people said. Despite those efforts, the Focus plant near Detroit can't run at full speed, they said.
The problem comes at a time when high gas prices and shortages of Japanese small cars have driven up demand for the Focus. Dealers say they're having trouble getting the newly redesigned compacts, and they've been forced to put customers on waiting lists.
SEOUL, South Korea (AP):
Hyundai Motor's net profit rose 37 per cent in the second quarter amid record global vehicle sales, disrupted auto production in Japan and the popularity of new models in the South Korean market.
Hyundai, South Korea's largest automaker, earned 2.31 trillion won (US$2.2 billion) in the three months ended June 30, according to a regulatory filing Thursday. It earned 1.68 trillion won the same period last year.
Sales revenue rose 19 per cent to 20.1 trillion won from 16.9 trillion won a year earlier.
Hyundai Motor Co sold 1.04 million vehicles worldwide during the second quarter, which company spokesman Ian Lim said was an all-time high. It was also the first time the automaker has sold more than a million vehicles in a quarter.
Vehicle sales in the first six months of the year increased 11 per cent to 1.96 million.
The second-quarter profit was the latest impressive earnings for Hyundai, which has benefited from its overseas factories and sales operations and raised its brand image globally.