Automotive News - Exxon Mobil Reports 14% Increase in Earnings
Exxon Mobil Reports 14% Increase in Earnings
Exxon Mobil reported quarterly earnings rose to $8.4 billion, up from a year earlier but down from the fourth-quarter’s record level, on revenue of $88.98 billion. Along with other oil companies, it faces scrutiny as it thrives on high energy prices and robust global demand.
Survey: Consumers Want More Auto Safety Technology
More than eight out of 10 U.S. car owners want some form of in-vehicle technologies to improve safety and security and they are willing to pay for it, a survey finds.
Prius Shortage Drags Down Hybrid Sales
Toyota Motor Corp., the world’s largest manufacturer of hybrid automobiles, is facing a shortage of its popular Prius hybrid sedan.
Politicians Feel Heat, Point Finger at Big Oil
America’s political leaders have, for the most part, steadfastly ignored rising gasoline prices for almost 18 months. Now, with an election not far away and prices skyrocketing, the politicians sense their strategy has failed them.
GM’s ‘Gotta Have’ Camaro V-6, Foe at Ford Says
General Motors is committed to “gotta-have” cars, one of which it unveiled on this year’s auto-show circuit: the Chevrolet Camaro.
Public Citizen Wants Higher CAFE Standards
Joan Claybrook, president of Public Citizen and a former administrator of the National Highway Traffic Safety Administration (NHTSA) is urging Congress to raise the passenger car Corporate Average Fuel Economy (CAFE) standards.
FTC Finds No Widespread Gas Price Gouging
The Federal Trade Commission has reported only 15 examples of gasoline price gouging after Hurricane Katrina and the agency says there is no widespread effort by the oil industry to illegally manipulate prices, a finding Public Citizen said “defied belief.”
GM Scraps the Hummer H-1
The head turning hulk of an SUV known as the H1 Hummer is about to see its last day on a civilian production line. GM has announced that production of the diesel-powered guzzler will end in June. The H1 is the civilian version of the military Humvee and sells for $126,000.
