AUTO BRIEFS

Hitachi revs up

TOKYO (AP):  Maker of everything from home appliances to nuclear reactors, Hitachi Ltd, a returned to profit last quarter as strong Asian demand fuelled recovery in the auto and electronics sectors.

The company said Friday it booked a net profit of 86 billion yen (US$989 million) for April through June compared with a loss of 82.7 billion yen a year earlier.

Revenue rose 13.7 per cent to 2.15 trillion yen, while operating profit came to 88.5 billion yen. It posted an operating loss of 50.6 billion yen the previous year.

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Michelin rebounds

PARIS (AP):

French tyremaker Michelin says it made a net profit of €504 million (US$658 million) in the first half as auto markets recovered and expects demand to keep rising for the rest of the year.

The profit compares to a loss of €122 million a year ago.

Michelin on Friday said that revenue increased 17 per cent in the period to €8.35 billion.

The company based in Clermont-Ferrand, France, said it expects the "clear rebound in the tyre markets" to continue in the second half of the year.
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Chrysler to add 900 jobs

DETROIT (AP):

Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit and spare it from a planned closure. The decision is a show of optimism that consumers will embrace the company's refurbished midsize sedans.

The jobs will staff a second shift at Chrysler's assembly plant in Sterling Heights, Michigan, just north of Detroit, which makes the slow-selling Dodge Avenger and Chrysler Sebring midsize sedans.

In the fall, the company plans to start selling new versions of the cars that it says will be updated from top to bottom. The second shift will begin in the first quarter of next year, Chrysler said.

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Kia Motors does well

SEOUL, South Korea (AP):

Kia Motors posted a 61 per cent surge in quarterly profit, boosted by sales of popular new models in South Korea and increased demand overseas.

Kia, an affiliate of Hyundai Motor Co, earned 557.8 billion won (US$471 million) in the April-to-June quarter, it said Friday. Net profit was 347.1 billion won the year before.

Sales in the second quarter totaled 5.77 trillion won, up 23 per cent from 4.68 trillion won a year earlier.

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Honda postsrecord profit

TOKYO (AP):

Honda's quarterly profit ballooned to a record US$3.2 billion while Mazda reduced its losses, rounding out a tale of recovery among Japanese automakers.

Nissan Motor Co and Mitsubishi Motors Corp have also reported stronger results but the prospect of a continued recovery for the Japanese automakers remains shaky.

The strength of the global economic recovery is in doubt and the yen's strength - which reduces the value of profits brought back from overseas - has been unrelenting. Meanwhile, government incentives that boosted sales in past months are set to expire.