DETROIT— Volkswagen's emissions-cheating scandal took a serious bite out of the company's U.S. sales last month. The German automaker reports that November U.S. sales fell almost 25 percent from a year ago. The company blamed the decline on stop-sale orders for diesel-powered vehicles that the government says cheated on pollution tests.» Read More
Stocks pared their losses Wednesday after a report showed business inventories shrunk at a slower pace and remarks from President Obama on health-care reform. Still, stocks remained under pressure as bank shares continued to struggle and retail sales unexpectedly fell for a second straight month.
For auto dealers, this may go down as the worst week ever. GM will announce plans to cut 2600 dealerships while Chrysler drops roughly 850. That's roughly 42% of the GM dealerships and 27% of the Chrysler stores going away.
Stock index futures indicated a lower opening for Wall Street Monday, as bank shares continued to struggle and investors looked for guidance on the strength of the economy from retail sales numbers.
Global stocks were higher Wednesday despite data out of China showing the country's industrial output rose less than expected in April. But experts tell CNBC there is real growth potential in the Asian economy.
GM plunged to a 76-year low after six executives liquidated their holdings in the automaker. Tim Seymour smells a trade!
Investors dumped shares of both Ford Motor and General Motors on Tuesday, with GM hitting its lowest level since the Great Depression.
A bankruptcy judge on Tuesday ruled that GMAC Financial Services can become Chrysler's preferred lender, potentially sending a slew of new business to the financing company and ensuring that Chrysler's dealers will have access to the loans they need to stay in business.
As Americans prune their expenses because of the relentless recession, the family vacation is taking a hit. A third of those surveyed in an AP-Gfk Poll released Monday said they had already canceled at least one trip this year because of money.
It's kind of like watching a car crash. You know it's sad. You know it's awful. But you can't stop looking at it. I'm not trying to be trivial about the plunge in GM shares this week.
Even as Sergio Marchionne, the chief executive of Fiat, is considered a potential savior for Chrysler in the United States, German politicians, executives and union bosses are casting a more skeptical eye on his bid for Opel and the rest of General Motors’ European operations.
Looking to buy a new car? There may never be a better time than right now.
For months we've all heard the warnings. If GM and Chrysler go bankrupt it will trigger a host of other bankruptcies from suppliers to dealers.
Global stocks were mostly higher Tuesday as expectations grew that the worst may be over for the global economy. Experts interviewed by CNBC consider whether the expectations are founded.
Stocks shed 1.8 percent Monday as investors took a breather after last week's run. The Nasdaq's drop was less severe as techs gained.
NOT SEEN ON T.V.: Stroll onto any car dealership in the country right now and you might as well be walking onto the set of ‘Let’s Make a Deal.’
What if Americans could buy cigarettes but were banned from growing tobacco? Buy bread but not allowed to grow wheat? That is the case with industrial hemp, a product in everything from car doors to milk...legally.
Stocks retreated Monday as investors took a breather after last week's run. The Dow was down over 100 points in the first few minutes of trading as banks declined.
Following last week's gains, stock index futures indicated a lower open for the stocks Monday as investors remained concerned about the health of the financial system as the stress-test hype wears off.
Global stocks took a break Monday after a successful week of gains. Investors remain uncertain if the global economy is showing signs of recovery or signs of further deterioration. Experts give CNBC their predictions.
The group of dissident Chrysler bond holders challenging Chrysler's government-backed restructuring plans, said Friday that it is dropping its court fight.