GUANGZHOU, China, Nov 30- Automakers are betting that Chinese families will embrace the mini-van, hoping the larger, unsexy sibling of the bestselling SUV will become the next big thing just as Beijing relaxes the one-child policy. Mini-vans, or multi-purpose vehicles, were front and centre at the Guangzhou auto show, where Volkswagen AG presented a supersized...» Read More
After years of getting into the habit of buying or leasing a new car every 3 or 4 years, or even going one step further and buying a third car for a house with only two drivers, Americans are pulling back.
Members of the General Motors bondholders committee will be meeting with President Barack Obama’s auto task force on Thursday in Washington, CNBC has confirmed.
February auto sales are shaping up to be as weak, if not weaker, than the poor results posted in January.
Ford's February auto sales fell a whopping 48.4%, which will re-enforce fears the the economy continues to stumble.
Geneva is hosting auto manufacturers from all over for the globe this week for the 79th International Motor Show. It’s no secret that the auto industry has been hit particularly hard since the onset of the recession, but as the as this year’s motto says, "the show must go on."
This may be the best time to get the deal you want on a new car or truck. In fact, if you can stomach the idea of taking on an auto loan in this economy, dealers will bend over backwards to get you in the new ride you want.
General Motors subsidiary Opel needs $7 billion of aid, Vice Chairman of General Motors, Bob Lutz, told CNBC at the Geneva Motor Show.
General Motors expects weak sales in the US for February, which will be an "exceptionally weak" fleet month for automakers, GM's chief operating officer told CNBC.
The auto industry is set for a complete overhaul. Over in China, the local auto sector also looks set to undergo a consolidation phase as intense competition and a sales slump is likely to force out smaller manufacturers.
How confident is Ford that its re-designed Fusion will be able to beat the Toyota Camry head to head? Very.
The drop in auto sales has created a glut of auto factories and turned niche brands into luxuries Detroits auto guys can no longer afford to hold.
Ford Motor executives met Friday with the Obama administration's auto industry task force but the company said it was not seeking emergency financial aid.
CNBC has learned that despite the fact that Pontiac is the official car of the NCAA and the final games are being played in the city of GM's headquarters, the car company is not inviting anyone to watch the action from the luxury suites at The Palace at Auburn Hills.
Top GM executives are taking their pleas for billions in new loans to the administration's auto task force. Do you think we should bailout GM at any cost?
General Motors is open to an alternative viability plan, said Ray Young, the company’s CFO ahead of meetings between executives and U.S. Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers on Thursday.
As expected, General Motors posted horrendous 4th quarter numbers this morning with the company losing $9.6 Billion. For all of 2008 GM lost $30.9 Billion making it one of the worst years ever for the auto maker.
Gerald Greenwald, a founding partner at Greenbriar Equity Group, joined CNBC today to give his opinion on the ailing economy and his hopes that GM can avoid Chapter 11 bankruptcy.
Tuesday afternoon Ford took another huge step in showing it's committed to cutting costs and "sharing the pain".
An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.
Remember when Barack Obama was campaigning for President and he went to Detroit with a very unpopular message in Motown? In essence he told an audience filled with auto execs it was time for them to start building fuel efficient vehicles, hybrids, and models that would lead Detroit out of its money losing ways.