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Volkswagen Reports Historic Sales Year
Volkswagen of America reported 77,524 Volkswagen Passat sedans sold year-to-date, making 2012 the best year of Passat sales ever in the United States, according to a company news release. This number surpasses the previous total year sales record, established in 2001.
Passat by the numbers
2001: In 2001, the Volkswagen Passat, a niche player in the mid-size sedan segment, has its best year ever selling 77,523 vehicles for the year.
2011: In January 2011, the all-new Passat makes its debut at the North American International Auto Show in Detroit. This was followed up with the award-winning commercial “The Force” which premiered during the Super Bowl in February of 2011. The first Passat was delivered in September of 2011. The all-new Passat is the only midsize sedan that offers German engineering at an accessible price. The Passat also began its long list of accolades when it was named a 2011 IIHS Top Safety Pick by the Insurance Institute for Highway Safety (IIHS), the highest possible rating from the non-profit safety research organization. The year ends with the announcement that the Passat received the coveted Motor Trend 2012 Car of the Year award.
2012: The Passat continues a year of accolades and bests as it starts off the year receiving many honors including Kelley Blue Book’s Family Car of the Year, and Cars.com’s “Best of 2012.” Most recently, the Passat was awarded top-rated premium mid-size car in the Autobytel and AutoPacific 2012 Vehicle Satisfaction Awards, and was recognized as the Most Ideal Premium Mid-Size Car for 2012 as part of AutoPacific’s New Vehicle Satisfaction Survey.
1626.1: In May 2012, a new record of 1626.1 miles is achieved on one tank of ultra-low sulfur diesel fuel under real world driving conditions. Over the course of three days and driving through nine states, John and Helen Taylor averaged 84.1 miles per gallon, spending only 4.65 cents per mile. The Passat’s 2.0-liter TDI Clean Diesel inline four-cylinder engine produces 140 horsepower and 236 pound-feet of torque and with a manual transmission delivers an EPA estimated fuel economy rating of 43 mpg on the highway. The TDI engine is equipped with a Selective Catalytic Reduction System (SCR) that fulfills emissions requirements in all 50 states.
100,000: In May 2012, Volkswagen Chattanooga achieves a significant production milestone with the completion of the 100,000th Passat just nine months after start of sales in September 2011. As the only manufacturing facility in the world to be certified as LEED Platinum by the U.S. Green Building Council, the plant is considered the most environmentally friendly automotive plant worldwide. In 2012, Volkswagen Chattanooga also announced it was hiring an additional 1,000 employees in order to keep up with the growing demand of the Passat.
77,524: On September 19, 2012, the 77,524th Passat is sold at Quirk Volkswagen, a dealership, in Braintree, Mass. In just nine months, 2012 officially becomes the best-selling year for the Volkswagen Passat surpassing the previous total year sales record, established in 2001.
More Business News
Last Update on April 17, 2014 17:08 GMT
WASHINGTON (AP) -- The number of people applying for U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase.
The Labor Department says that the four-week average of applications, a less volatile measure, fell 4,750 to 312,000. That is the lowest four-week average since October 2007, just two months before the Great Recession started. The average has fallen by 53,500 applications over the past 12 months.
Applications are a proxy for layoffs. The current level of claims suggests that employers are holding on their workers with the expectation of stronger economic growth ahead.
Employers added 192,000 jobs in March and 197,000 in February, the Labor Department reported. Hiring has picked up after a slowdown caused by severe winter weather.
WASHINGTON (AP) -- Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins.
Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.27 percent from 4.34 percent last week. The average for the 15-year mortgage eased to 3.33 percent from 3.38 percent.
Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.
Many analysts have been expecting an improving economy to lift the housing market, which has been recovering over the past two years. But housing has struggled to maintain momentum. Rising home prices and higher mortgage rates have held back some potential home buyers. Others have had trouble qualifying for mortgages.
NEW YORK (AP) -- Investment bank Goldman Sachs says its first-quarter earnings fell as fixed income trading slumped.
The bank earned $1.9 billion in the quarter, down 11 percent from the same period a year earlier when it made $2.2 billion.
The earnings were equivalent to $4.02 a share. Analysts polled by FactSet had predicted earnings of $3.49 a share.
Revenue totaled $9.3 billion, down 8 percent from a year earlier, when the bank generated revenue of $10.1 billion. The latest quarterly revenue beat analysts' expectations of $8.7 billion.
Goldman's stock rose $2.78, or 1.8 percent, to $160 in pre-market trading.
NEW YORK (AP) -- PepsiCo reports a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world.
The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, says global snack volume rose 2 percent while beverages were even from a year ago.
In its closely watched North American beverage unit, PepsiCo Inc. says volume was even. Growth in other drinks offset a 1 percent decline in sodas.
For the quarter, the company earned $1.22 billion, or 79 cents per share. Not including one-time items, it earned 83 cents per share, above the 75 cents per share Wall Street expected.
A year ago, it earned $1.08 billion, or 69 cents per share.
Revenue edged up to $12.62 billion, higher than the $12.39 billion analysts expected.
EL SEGUNDO, Calif. (AP) -- Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss.
Toy makers are facing a weak environment globally due to the uncertain economy and popularity of electronic gadgets.
The largest U.S. toy maker says its net loss for the three months ended March 31 totaled $11.2 million, or 3 cents per share. That compares with net income of $38.5 million, or 11 cents per share last year. Analysts expected earnings of 7 cents per share.
The company which makes Disney Princess dolls and Hot Wheels cars says revenue fell 5 percent to $946.2 million. Analysts expected $947.6 million. Barbie revenue dropped 14 percent.
NEW YORK (AP) -- Target is vastly expanding the goods that are available to order by subscription as it fends off its biggest non-traditional retail rival, Amazon.com.
The nation's second-largest discounter first dabbled with subscriptions last September, trying to win over haggard parents with 150 baby care products.
That program has been expanded more than tenfold this week to nearly 1,600 items across a much wider array of consumer goods. Everything from beauty products and pet supplies, to home office supplies like printer ink, are now available through subscription.
Target, based in Minneapolis, is playing catch up in the subscription arena, which has exploded as companies test consumer appetites for almost every niche, from socks to razors, to clothing and entertainment.
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