Ford Grows Hybrid Future, Tata Motors Exceeds Estimates, Amazon.com Creates Jobs
Ford Motor (NYSE:F): Ford said its innovations have led to a 50-fold increase in hybrid patents to nearly 500. The company expects its new Fusion Hybrid to achieve 47 mpg, which would make it America’s most fuel-efficient, non-rechargeable sedan.
Tata Motors (NYSE:TTM): Tata Motors is rising today after the company reported Q3 net revenue of $8.53B versus $5.93B in the same period one year earlier. Cash profit increased to $1.11B, versus $673M during the prior year. The company said its passenger vehicle sales jumped 33% to 85,963 units, with the strength attributed to sales of the Nano and growth in its compact, utility vehicles and vans segments. Shares are up $1, or 3.83%, to $27.13 following the report.
Amazon.com (NASDAQ:AMZN): Amazon.com announced plans to open a 1.0 million-square-foot fulfillment center in Middletown, Delaware. Amazon will create 850 full-time jobs at the new center. Total investment in the project will exceed $90M. Local toy shops that have focused in the past on the threat from big box stores like Walmart (NYSE:WMT) and Target (NYSE:TGT) now say Amazon.com (NASDAQ:AMZN) is their biggest threat, but the little stores have had some success in their fight with the online giant and toy manufacturers have been helpful and supportive, according to The New York Post.
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