Auto sales could bounce back to the $12- to 13-million annual sales rate within a year, Toyota Motor's North American President Yoshi Inaba said Monday.
General Motors says it is investing $1 billion to develop two new car models in Brazil. The president of GM's operations in Brazil and the Mercosur countries says it is GM's biggest investment since the onset of the global financial crisis.
On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.
The Energy Department is lending money to the Ford Motor from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said Monday.
No reason has been given yet for the departure of founder and executive chairman George Zimmer, reports CNBC's Courtney Reagan. Zimmer has long been the face of the company.
Wednesday, 19 Jun 2013 | 10:52 AM ETCNBC's Rick Santelli, explains why he hears 'crickets" when he asks questions about Fed Chairman Bernanke's policies. "Enough is enough," he rants.
Wednesday, 19 Jun 2013 | 11:36 AM ETAre reporters lobbing "softball" questions at the Fed chairman? CNBC's Rick Santelli and the Wall Street Journal's Jon Hilsenrath, debate whether the economy continues to need quantitative easing. I'm trying to inform the public about what the Fed is up to, says Hilsenrath.