General Motors is dropping Chevy as its No. 1 brand for mass-market vehicles in Europe and is making Opel its primary mainstream line.» Read More
General Motors will look to sell just over $10 billion worth of common stock and $3 billion of preferred stock in an initial public offering that would shift the U.S. government to a minority shareholder in the top U.S. automaker, people familiar with the matter said.
Treasury Secretary Timothy Geithner is meeting with new General Motors CEO Dan Akerson in New York as the government-owned automaker moves toward a public stock sale.
Mercedes-Benz is recalling about 85,000 of its 2010 and 2011 cars because of potential steering problems.
U.S. Transportation Secretary Ray LaHood says New Jersey's governor has agreed to take the next two weeks to rethink his decision to cancel a massive NJ-NY rail tunnel project.
U.S. auto sales in September for GM, Ford, Chrysler as well as Toyota, beat estimates, showing some gains in the still sluggish auto market. GM said Friday that its core brand sales for the month of September were up 22.1 percent compared to estimates of 17.5 percent.
Looking to rev up slumping sales in the beleaguered golf industry, Callaway announced today a strategic partnership with automaker Lamborghini in the quest to find the strongest, lightest and most durable materials.
Edward E. Whitacre Jr. has looked forward to the day the carmaker would no longer be under government ownership, but thinks a public offering requires a long-term leader. The New York Times reports.
The number of people dying on the nation's roads has fallen to its lowest level in six decades, helped by a combination of seat belts, safer cars and tougher enforcement of drunken driving laws.
Ford, GM and Toyota reported slumping US auto sales in August compared with the same time last year, showing the auto industry has a way to go before it's in a true recovery.
For years, Americans shopping for cars were treated to all sorts of deals and incentives, especially at the end of summer. Think Cash for Clunkers, which paid up to $4,500, or promotions that offered employee discounts to everyone.
A Delaware bankruptcy judge has told auto parts supplier Visteon that it must restore health and life insurance benefits for thousands of retirees.
American taxpayers who spent $50 billion bailing out General Motors may see some returns, if the Obama administration allows it.
Sales of pickup trucks were up 60 percent in July from a year ago at AutoNation, the nation's largest auto dealer, in a clear indicator the economy is recovering, Chairman and CEO Mike Jackson said on CNBC Wednesday morning.
Two years after gasoline prices hit a record high of more than $4 a gallon, light trucks, SUVs and crossovers are popular again. "The further we get past the gas crisis, the less people remember it,” says one industry analyst.
Northrop Grumman says it will close down a Louisiana shipyard and may shed its entire division that makes warships for the Navy.
Most General Motors' U.S. plants will forego traditional summer shutdowns to help meet buyer demand for popular models, the automaker said Thursday.
General Motors said Tuesday it was recalling about 1.5 million vehicles worldwide to address a problem with a heated windshield wiper fluid system that could cause a fire.
It's no secret that the major auto companies knocked it out of the park with their May sales. But dig a little deeper into the numbers, and you can find some even better signs of strength for certain areas of the economy.
CNBC has learned Ford executives are working on a plan to phase out the Mercury brand. There is no time line for how quickly the brand will be eliminated, but the Ford Board of Directors could make a decision by July. A Ford spokesperson says Ford has made no plans to change the Mercury line but the company is always evaluating its brands.
Quick. What’s more fun to invest in than bullions of gold or a fistful of stocks? Classic cars, of course.
GM is dropping Chevy as its primary brand for mass-market vehicles in Europe and making Opel its mainstream line.
And Ford is targeting the global market: The newest Mustang was unveiled in six cities around the world on Thursday.
Auto loan interest rates hit their lowest level in at least six years, and Americans took out a record number of loans.