Once again, Toyota executives are on Capitol Hill getting grilled about unintended acceleration. Once again, the hearing will end without an understanding of what's behind complaints of Toyota's racing suddenly speeding up. Once again, I can hear supporters and critics saying these hearings are a joke. Both are right.
They want to move forward. But making sure they don't repeat past mistakes keeps reminding them (and the public) of where they've been. It's the yin and yang of where Toyota executives find themselves this spring and summer.
Hint: Not US banks. Plus, who should GM pay back first?
The financial reforms being debated in the Senate have prompted resistance from a variety of businesses, but perhaps nowhere more intensely than in the already beleaguered auto industry, where dealers find themselves pitted against Mr. Obama in their aggressive campaign to exempt themselves from the new rules.
With a first quarter profit of nearly $900 million dollars ($1.66 per share), GM not only showed it is back in the black, but more importantly, laid another brick in the foundation needed for an IPO.
Ford CEO Alan Mulally said Thursday that the automaker should be "solidly" profitable in 2010 as it recovers from a sharp downturn in the auto industry.
This year, Ford shareholders will have a little giddy up in their step. And for good reason. In the last year, the Mulally makeover has kicked in gear and revved up Ford's once idling profit engine and stock price.
The real appeal of GM owning the old GMAC would be in making the company more attractive for an IPO.
Let's see if this makes sense. In the fiscal year that ended in March of 2009, Toyota lost $4.4 billion. A year later, after what was arguably the worst crisis in the company's history, Toyota swung to a profit of just over $2.2 billion. How did that happen?
Four months after calling Toyota "safety deaf," Secretary of Transportation Ray LaHood says the Japanese automaker is getting the message. "I think their attitude has changed," said Secretary LaHood after spending more than hour meeting with Toyota leaders including CEO Akio Toyoda. "I came away with the idea Mr. Toyoda has listened to us," said LaHood.
Jobs areas that had been lagging—employment of men and for those living in the Midwest—have shown an upswing in employment in recent months, the CEO of temporary placement agency Kelly Services told CNBC Friday.
So how does the recent Toyota recall compare to other major recalls in the past? Here, we break down the largest US auto-related recalls of all time.
As Chrysler CEO Sergio Marchionne breathes life into the beaten down brand, he has said time and again that the customer has to have a reason to care about Chrysler.
As Congress begins work on strengthening auto safety rules and considers a wide range of more stringent requirements, I'm struck by what I've heard from people who don't want Washington to go very far with these requirements.
We've had our hearts broken lately by some of the most known and trusted brands — Tiger Woods, Toyota, GM and Goldman Sachs. We're now so jaded that for some of us - even the truth is not enough.
The hiring of former Hyundai marketing man Joel Ewanick to spearhead GM marketing is a shrewd move and shows that the folks running the country's largest automaker is realizing it can't wait around to improve sales.
Manufacturing and retail are perking up, according to the ADP jobs report for April, especially the former, which has been characterized as a “shining light.”
there is little talk about America's fifth largest automaker. Well, in case you haven't been watching, Chrysler has quietly stopped the bleeding.
It is hard to imagine an auto company going through a more challenging start of the year than Toyota. And yet, April auto sales show the company is weathering the storm far better than most expected.
The rental car industry is heating up, as Avis' chairman and CEO sends a letter to top executives at Dollar Thrifty.