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Financial blues singing their way out of Motor City

Detroit was once a by-word for motorcars and Mo-town music. The former was synonymous with the city, and such was the success of the manufacturing trade, the city became world-famous for the production of quality cars.

Detroit was once a by-word for motorcars and Mo-town music. The former was synonymous with the city, and such was the success of the manufacturing trade, the city became world-famous for the production of quality cars.  However, since the riots in the 1960s, motor city has lost almost all of its allure, culture and recognition. Not any more, though.

Ford, General Motors and Chrysler – all of which are based in Detroit – are showing signs of profitability again. Ford has just posted the biggest first-half profit in 12 years, a total of $2.6-billion), and not only that, car sales throughout the US and Canada are up more than 23 per cent.

Car loans, finance and cash purchases are on the rise due to GM’s new in-house financial outfit. And Chrysler’s redesigned Jeep Cherokee has sold far better than expected. All of which shows motor-city is still coughing up a bit of blood and guts even in today’s tough market.

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