SUMMARY: <span style="FONT-SIZE:10pt; FONT-FAMILY:Verdana">The world’s largest automaker, GM, announced a $1.3 billion profit for the second quarter. This beats Wall Street expectations by about $0.12 per share, and is a 48% increase over last year’s results. <span style="FONT-SIZE:10pt; FONT-FAMILY:Verdana">The financial news out of Ford was similar, with FoMoCo posting a quarter profit of $1.2 billion. Honda will build an entry-level vehicle priced below the Civic in the $12,000 market. </span></span>
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