AutoNation, the nation's largest auto dealership chain, said Saturday it hit the brakes on the popular Cash for Clunkers program three days early because it wants to make sure it can submit the paperwork on thousands of sales to the government before a Monday evening deadline.
The rumors have been swirling for a few weeks. Now there are reports Toyota President Jim Press is in fact leaving the company before the end of the year. While the company will not officially comment on the reports, it appears to be the end of a strange marriage between Press and Chrysler. It also would mark the end of a relationship that never flourished as many expected when Press left Toyota for the American auto maker.
A comment from Bill Ford Jr. is one that explains why I, and many other reporters, are spending so much time reporting on the latest developments with electric cars.
As more American car buyers take advantage of the rebate program, the federal government is struggling to reimburse dealers that shoulder the rebates up front
Hundreds of auto dealers in the New York area have withdrawn from the government's Cash for Clunkers program, citing delays in getting reimbursed by the government, a dealership group said Wednesday.
AutoNation CEO Michael J. Jackson told CNBC Wednesday the government owes his company about $45 million in rebates from the cash-for-clunkers program, but said he still has faith in the program.
The market bounced back on Tuesday against all odds, just like the Mad Money host said it would.
Higher sales from the government's Cash for Clunkers program have prompted General Motors to boost production at several of its factories, according to company and union officials.
As evidenced by the recent selloff, most people don't believe the recovery will be straight up—or even a steady climb. So, the hot question right now is, what shape will it be—A triple-U? Square-root sign?
The Transportation Department says consumers who want to purchase a new car not yet on a dealer lot can still be eligible for the car rebate program.
Demand is up significantly in the auto industry, and General Motors expects to see "robust" sales in August and September, CEO Fritz Henderson told CNBC Thursday.
This is one of those weeks when the auto industry is slowly but surely showing that its darkest days have passed. The three year downturn in production is giving way to small, but important increases in the number of cars and trucks rolling off assembly lines.
Volkswagen and Porsche have broadly agreed on details for a deal to combine two of Europe's most storied automakers, two VW supervisory board members told Reuters on Wednesday.
Get used to seeing more triple digit fuel economy ratings as Toyota, Ford, Chrysler, and other niche players start rolling out the electric line-ups over the next 3-4 years.
Educating the public about electric vehicles will take a lot of time, but implementing them is our future, said Rebecca Lindland, director of the Autos Group at IHS Global Insight.
In the new GM, where the big push is getting closer to the customer, there's an interesting experiment the company is about to launch.
Car enthusiasts could soon find their high-horsepower American vehicles of choice relegated to car museums and collectors' garages. Click to see a handful of today's V-8 muscle soon-to-be collectibles.
A study finds the fuel economy of new cars and light trucks sold in July noticeably jumped, thanks to the "cash for clunkers" program.
General Motors said Tuesday its Chevrolet Volt rechargeable electric car should get 230 miles per gallon of gasoline in city driving, more than four times the mileage of the current champion, the Toyota Prius.
That's the fuel economy GM expects the electric Chevy Volt to deliver when it comes out late next year. The company made the announcement this morning in Detroit and already skeptics, fans, and the general public are debating if the Volt's mega-fuel efficiency will be a "game changer" for the industry and General Motors.