IN BRIEF
MUMBAI, India — India's auto sales surged 71.9 percent in November from a year earlier to 207,500 vehicles, thanks to poor sales this time last year and robust consumer spending.
Sales of passenger cars rose 60.8 percent to 133,687 units while commercial vehicle sales nearly doubled to 40,847 vehicles, the Society of Indian Automobile Manufacturers, a trade group, said today. Sales of other passenger vehicles, like utility vehicles, rose 94.5 percent, to 32,966 units.
The surge also is a sign of how the Indian consumer — encouraged by government tax cuts, a big disbursement of back pay for government employees and falling interest rates — is fueling economic growth in Asia's third-largest economy. In the September quarter, India's gross domestic product grew a better-than-expected 7.9 percent, its fastest in a year and a half.
MEMPHIS, Tenn. — Auto parts retailer AutoZone said its fiscal first-quarter profit rose 9 percent as strapped consumers spent more money repairing their old cars instead of buying new ones.The company earned $143.3 million, or $2.82 per share, in the three months ended Nov. 21. That's up from $131.4 million, or $2.23 per share, in the same period last year. Revenue climbed almost 8 percent to $1.59 billion. The company said its sales at stores open at least a year rose almost 6 percent during the quarter.
KANSAS CITY, Mo. — H&R Block reported a smaller fiscal second-quarter loss than a year ago today as the nation's largest tax preparer trimmed expenses and saw its tax services business improve.The company, which typically records losses in its first two fiscal quarters outside the normal tax season, also maintained its full-year profit outlook. H&R Block prepared more than 24 million tax returns worldwide in fiscal 2009.H&R Block lost $128.6 million, or 38 cents per share, for the period ended Oct. 31. That compares with a loss of $135.9 million, or 41 cents per share, a year earlier.The tax preparer cut its operating expenses to $540.6 million from $576.8 million during the quarter.
