The heads of two major lobby groups told hundreds of attendees at an industry conference in Traverse City, Michigan, that automakers are struggling to meet a California mandate to boost demand for electric cars to 15 percent of sales by 2025.. "I am a big believer in the idea of California as an incubator for technology," said Christopher Grundler of the EPA.» Read More
The obvious and easy first move for President-Elect Barack Obama is to put some money into the automobile industry to save a large number of jobs, financier Wilbur Ross said Wednesday.
Later today we'll find out if Toyota passes up GM in October auto sales to become the first foreign auto maker to lead the U.S. in monthly auto sales. If it happens, it would be a watershed moment in the auto industry and in American business.
Rick Wagoner meet Charlie Brown. GM's Chairman and CEO now knows how the cartoon character felt getting a box of rocks for Halloween. It looks like Washington/Bush Administration is saying "no thanks" to providing the money needed to make a GM/Chrysler merger happen
Nissan Motor and Suzuki Motor capped a turbulent week for automakers everywhere with their own profit warnings on Friday, as executives predicted a rough ride for the foreseeable future.
The governors of six states have sent a letter to federal officials asking that they take "immediate action" to help the troubled domestic automakers.
As we move closer to seeing the Treasury Department approving $5-10 billion in federal loans to back a merger of GM and Chrysler, I've been hit with a wave of comments from readers, viewers, and others that basically amounts to this: We should let GM go bankrupt because they aren't worth saving.
The sharp decline in gasoline use earlier this year — with volume down nearly 10 percent in some weeks — suggested to many people, including the automobile companies, that a permanent change in American habits might be at hand. But with gasoline prices falling drastically in recent weeks, some American drivers are returning to their old ways, says the New York Times.
Wall Street went on a bargain-hunting bonanza, with a frenzy of activity in the final hour of trading, sending shares up 10 percent.
Investors went on a late-day buying spree, scooping up shares of beaten down stocks and sending the major indexes soaring 7-8 percent.
Volatility reigned again on Wall Street Tuesday as jittery investors had a hard time committing to the morning's early rally -- or to the subsequent paring of gains.
Washington doesn't have much of a choice but to give GM the money. If it doesn't, there is a very real possibility Chrysler and GM slide toward bankruptcy.
Stocks opened higher Tuesday after Monday's late selloff as international markets bounced back amid expectations of a U.S. rate cut.
Today the number two Japanese auto market, Honda Motor Co, warned of lower-than-expected annual profits as a deepening financial crisis has hammered demand for cars and sent the yen soaring according to Reuters.
Stock index futures pointed to a substantial gain at the open Tuesday, following Monday's late selloff, as international markets rebounded and investors pondered the effect of an upcoming expected interest-rate cut.
This week is not only the last one of the month. It's also the week that could determine if GM holds on to the top spot in monthly auto sales in the U.S.
Whether it's the Wall Street Journal speculating about Cerberus Capital pushing for "fresh air" in the management at GM, or the steady flow of e-mails I get from people saying "Wagoner must go!", there is no shortage of people suggesting GM's leadership needs to change.
This morning GM and Chrysler announced a fresh round of job cuts due to the stunning drop in business and their balance sheets.
Plus, Cramer makes the call on the Pickens Plan and Monroe Muffler.
Ever since word first leaked out about GM talking with Cerberus Capital about buying Chrysler, I've had two basic conversations with those in the companies, in the industry, on Wall Street, and you the reader/viewer.
The Mad Money host offers his theory on why the billionaire is dumping Ford (and it isn't just because the automaker's doing so poorly).