DETROIT-- Tesla Motors fell more than 5 percent in early trading Tuesday, a brief decline amid huge gains this month after the electric car maker posted its first quarterly profit. Tesla's stock price had jumped 74 percent between May 8, when first-quarter earnings were announced, and May 14, when it hit a 52- week high of $97.12.» Read More
The head of Toyota Motor, the world's biggest automaker, said on Thursday he expects further cooperation between truck affiliates Isuzu Motors and Hino Motors to better compete in global markets.
Stocks ended broadly higher as investors were hopeful the Federal Reserve will lower interest rates next month. "You had more people positive today that the Fed is going to cut rates," said Todd Leone, head of listed trading at Cowen & Co. "A lack of bad news is really the main thing moving the markets today -- as long as you don't hear anything negative, the market does OK."
After years of complaints, and clear cut evidence that sport utility vehicles are more prone to flip over in accidents, there is finally good news. Funny thing is, just as suv's become safer, they've lost much of their appeal. The National Highway Traffic Safety administration has given 4 stars to more than half of the SUV's it put through roll-over tests.
Thoughts of a decent rally this week rest largely on the hope that Ben Bernanke will address the slowing economy at his Jackson Hole speech this Friday. They are emphasizing that, since the FOMC meeting August 7th, things HAVE changed, the Fed HAS seen more risk (e.g. they cut the discount rate), and Mr. Bernanke will address those increased risks on Friday.
Car dealership group AutoNation Chief Executive Mike Jackson said Tuesday the U.S. economy is in danger of slipping into a recession unless the Federal Reserve moves aggressively to cut interest rates.
Perhaps more than any other comment, the one I hear the most from readers is "when are we gonna see cars and trucks with better mileage?" Typically those comments are followed by questions about hybrids, diesels, or sometimes even electric models. I bring this up because we are at a crossroads in the auto industry. On Friday, GM showed reporters a new engine it's developing that, in theory, will be 15% more fuel efficient.
If the vagaries of Wall Street are getting you down, do what some of the super-rich are doing: put the top down, hop into your multi-million dollar investment, and take a drive down the California coast. That was the flavor at last week's Pebble Beach Concours d'Elegance, maybe the world's most famous vintage car show. Pebble Beach is open for golf 364 days of the year. It closes once: for this show.
Earlier this week I asked you to vote on whether or not you are putting off a new car, and the number of e-mails and votes on our web poll has prompted me to end this week with the reason why many of you are putting buying a new car or truck. The answers might surprise you.
Stocks futures are meandering on both sides of the unchanged mark after stronger-than-expected durable goods orders and investors now await new home sales data due at 10 am New York time.
You do it, don't you? No, not that "it". The "it" I'm referring to is what I call "drive-texting", where you e-mail or text someone while driving. It's the reason so many of us have become experts (or at least we think we are) when it comes to driving with our knees. Whether it's because we're on our cell phone, fixing our coffee, or putting on make-up, many of us do not pay as much attention as we should when driving.
Ford Motor will not make an announcement about the sale of its Jaguar and Land Rover units until late this year or perhaps early in 2008, the head of the company's European operations said Wednesday night.
French car maker Peugeot will recall 240,000 of its 307-model cars in northern Europe in September because of possible problems with the antilock brake and electronic stability systems.
Here's a question: Are you in the market for a new car or truck? It's a simple enough question, but with the economy slowing, and credit tightening up, more and more people are actually putting off buying a new ride. When I saw the latest survey of new car buyers from CNW Market Research, I was not surprised to see that 13% of the people in the market for new wheels are putting off making the purchcase.
There has always been a carnival atmosphere at a NASCAR event. Hundreds of thousands of people, food, drink, more drink, and all that noise. Throw in 36 or so hard charging cars and the resultant thrills and spills and what do you have? A sales opportunity. NASCAR has always been about 'the sell'. From the sponsorship logos on the cars to the suits the drivers wear.
Toyota Motor aims to sell around 10.4 million vehicles worldwide in 2009, helped by increasing demand in North America as well as China and other emerging economies, business daily Nikkei reported on Wednesday.
OK, let's be honest. The mid-size car market is not the sexiest one. These cars have often been viewed as "boring". After all, when was the last time you heard somebody say the new Camry gets their blood racing? That said, we are on the cusp of a substantial car war critical to Toyota, GM and Honda. Today, Honda is showing reporters its redesigned Accord.
After a week of driving the California coast in a Lamborghini, getting back to the office is bringing on a real case of withdrawal. Seriously, after a 5 days of the "Lamborghini life" you get spoiled. It also has me pondering a question I'd like you to answer: What's your dream drive?
It's always fun when you gain a little clarity. And it's often very interesting where you find it. This time it came just off Woodward Avenue outside Detroit. 40,000 classic cars and somewhere near or over a million people. It's the 50's, the 60's and it's the 70's. But wait a minute. It's actually about the future. In amongst all these 'classics', the real message comes in the form of a question. What's next for Detroit?
A few days ago I blogged about the state of Chrysler and posed a simple question: What do you want to see from Chrysler for you to consider buying a car or truck from the American automaker?
The year is 1967. I'm stopped at a red light in Bloomfield Hills, Michigan. I'm with a buddy, Mike Sprout. The car is a 1966 red Barracuda. In the car next to me at the light are two young women. The light turns green, we 'drag' away from the light. I win. It's Detroit. It's what we do. It's Woodward Avenue.