TORONTO, July 2- A healthy appetite for trucks and luxury cars pushed auto sales in Canada to a record high for June, with Fiat Chrysler Automobiles the top seller, according to data released on Thursday. "Ongoing gains being enjoyed by the luxury manufacturers in the Canadian market turned into a veritable feast in June," DesRosiers Automotive Consultants wrote...» Read More
Stocks rode the enthusiasm over an auto makers bailout and a swift round of profit-taking to stage a rally Wednesday that offset some of the previous day's losses.
Ray T from Indiana writes, "We are loaning the auto companies $15 billion to keep them open for the next 4 months to make 3 million cars we don't want. That is $5000 for each!
GMAC Financial Services, the financing arm of General Motors, said it hasn't raised enough capital to become a bank holding company and qualify for aid under the government's $700 billion bank rescue plan.
GMAC, the troubled auto and mortgage lender, warned it may not have enough capital to become a bankholding company, the latest blow to the battered auto industry.
Seventy-three dollars an hour. That figure has become a big symbol in the fight over what should happen to Detroit, but is it reaaly what a UAW worker earns?
At the minimum, government is inefficient in allocating resources. At the worst, they allocate resources based on political favors and based on enacting social policy. This is why the letter by Fed Chairman Ben Bernanke is a step in the right direction.
If Washington approves this $15 Billion bailout by the end of today or tomorrow (and yes, I think that will happen) the question will turn to who becomes the "Car Czar." It will be a presidential appointment and it will be crucial to determining if this auto bailout actually works.
U.S. stocks looked set for a sharp jump higher at the open Wednesday, as a looming deal to bail out Detroit auto makers raised investor enthusiasm for the industry.
Detroit auto makers should be rescued, but through a planned bankruptcy overseen by the federal government, according to real estate magnate Donald Trump.
The automakers' bailout will not boost Wall Street as investors are unlikely to see advantages in subsidies granted to "dinosaurs," Hugh Hendry, chief investment officer and partner at Eclectica told CNBC.
Dylan and Karen start Tuesday's show by agreeing that it looks like "anything goes" with the current market, as the Dow spacer snapped its recent rally to end the day almost 3% down. This drop was not a surprise to those who are in the business and watch for such things -- Dylan says it was "anticipatable" and is just "the market behaving as markets do."
The stock market's Santa rally has been temporarily grounded as a winter chill continues to swirl around credit markets.
Congress and the White House are hoping to reach a final deal Tuesday to provide $15 billion in loans to troubled U.S. automakers. CNBC asked market insiders and members of Congress to share their insight on a bailout for the industry.
Whatever happens to the Detroit automobile companies, all three carmakers have told Congress they need to cut their dealer networks as a fundamental element of their survival plans.
The big wheels in the auto industry—General Motors, Ford and Chrysler, among others—have been on a downhill run. But Toyota is a different story altogether.
For most of us, buying a new car is just not in the cards right now. It means we have to take extra good care of what we’ve already got.
Rep. Barney Frank discusses the auto bailout issue, while New York Attorney General Andrew Cuomo says a $10 million bonus for Merrill Lynch's John Thain is unjustified. Following are today's top videos:
I have a factory installed GPS in my car, which is fine, except it won't let me engage it while driving (which is when I suddenly need it), and I haven't figured out how to stop it from speaking to me in kilometers.
Goodyear saw a spike in options activity as its stock traded higher on Monday, apparently a positive reflection of progress toward an auto industry bailout in Washington. The action focused on the April 7.5 calls, which lit up OptionMonster's tracking systems, driving the price of those options up $0.50 to $1.50.