The government's "Cash for Clunkers" program was "ingenious" because it coaxed wary consumers into re-leveraging their personal balance sheet, Doug Dachille told CNBC.
Cash for Clunkers was "one of the most successful stimulus programs of all time" that has helped the auto industry on its road to recovery, AutoNation CEO Mike Jackson told CNBC.
While most of us fixate upon GM gaining or losing market share here in the U.S., the company's success in China is a huge story that deserves more attention. Especially when you look at the latest report. In August, GM doubled sales in the country, selling more than 152,000. And this year GM's China sales are up 49% with 1.11 million vehicles sold.
Toyota Motor plans to raise production of its Tacoma and Tundra pickups to meet expected demand for trucks and increase production of fuel-efficient vehicles through the end of the year, executives said on Tuesday.
Stocks started September, a typically bad month for the market, with a sharp selloff amid worries about more bank failures and the fact that the market may have gotten ahead of the recovery.
As expected, several auto makers posted their best monthly sales of the year as the industry report August results. The sales pace is expected to be close to 15 million thanks to Cash for Clunkers bringing in throngs of buyers. But for individual auto makers the results were wildly different.
Stocks resumed their descent Tuesday after a brief pop from a better-than-expected ISM report on manufacturing.
Stocks rebounded from a lower start Tuesday after the ISM reported manufacturing moved into expansion mode for the first time since January 2008.
China is set to tighten its hammerlock on the market for some of the world’s most obscure but valuable minerals, says the New York Times.
When auto makers report August sales later today, don't be surprised by the whopping numbers they put up.
As we flip the calendar to September, investors will look back on August fondly, the last two trading sessions notwithstanding.
Stocks pulled back Monday as a major selloff in China sent oil prices lower and dragged on the US market.
U.S. Sen. Charles Schumer, a Democrat from New York, last month introduced legislation that would require all states to adopt a texting ban for all drivers or face losing their federal highway grants. Today, in a new national survey from Nationwide Insurance, eight in 10 Americans say they support such a ban on texting while driving. The issue has drawn a great deal of support and opposition from both lobbyists, citizens and even here at CNBC
Shares of Chinese electric-car maker BYD rallied 8 percent in Hong Kong trading today (Monday), finishing at an all-time closing of HK$48.60. The buying was apparently sparked by news wire headlines quoting BYD's chairman as saying Warren Buffett "wants" or "intends" to raise Berkshire Hathaway's 10 percent stake in the company. That interest, however, may not be new and doesn't necessarily mean Buffett will be able to buy more shares from BYD.
With Americans curbing luxury spending, the vintage car market has taken a hit, which means it’s a great time to enter. But buyer beware. Cars require maintenance that can add up to thousands of dollars a year, eclipsing any appreciation.
Stocks pulled back Monday as a major selloff in China set the stage for a rough day on the US markets.
These are fun days at Ford. After staring bankruptcy in the eye and surviving a horrific slump in sales, the auto maker is rolling. Sure, it's not yet back in the black, but it has the big "MO". It's adding production, cutting losses, and is in the sweet spot of new product cadence with models like the Edge and Taurus bringing back buyers.
The last trading day of August begins with some significant positives in the books: barring a major selloff Monday, the S&P 500 and the Nasdaq will chalk up their sixth straight monthly gains, and the Dow will have its fifth monthly gain in the past six months.
A top Ford executive expects industry-wide U.S. auto sales to rise for the first time in more than two years this month, thanks largely to the government's Cash for Clunkers program.
It sounds strange to say it, but it's true. The auto industry still has too many plants with the capacity to crank out millions more cars and trucks than needed.