*Honda drops on under-reporting of accidents. Honda led the Nikkei's losses, falling 2.8 percent after admitting it had failed to report serious accidents in the U.S. since 2003. The automaker has been at the centre of investigations into defects in Takata Corp airbags. Investors are likely to take profits after recent gains on the back of the Bank of Japan's...» Read More
Following my blog earlier this week asking you to tell me who is to blame for GM's problems, I received the following e-mail from the automaker. Give it a read and let me know what you think.
Major automakers are expected to post steep declines in U.S. sales for May, as the spike in gasoline prices battered an industry already reeling from weak consumer confidence and tighter credit.
Some brief background so we're on the same page: the Tesla is the world's first, ultra-high-end, ultra-performance, electric sports car. The anti-Prius in virtually every way except for that one: it's electric.
Billionaire investor Kirk Kerkorian will move ahead with his tender offer for Ford shares despite a recent slump in the No. 2 U.S. automaker's stock, pushing shares up as much as 3 percent.
In the last 10 years, the Big 3 have struggled to come up with sedans to beat the Camry, Corolla, Civic and Altima. In fact, if you look at the top 10 best selling cars right now, only 4 are American models: The Ford Focus, Chevy Cobalt, Malibu and Impala.
General Motors said about 19,000 U.S. factory workers—just more than a quarter of its American blue-collar work force—had taken buyouts to leave the automaker.
AutoNation CEO Mike Jackson joined the CNBC 'Squawk Box' crew to discuss the effects higher gasoline prices are having on the automotive industry and consumers. Americans, he said, have finally reached the "tipping point" at four dollars a gallon.
Yes, gas prices are soaring, SUV values are tanking, and Detroit is bracing for the possibility of more job cuts. But there are reasons to be optimistic about the future of the industry. Here are four:
With gas prices at record highs across the country, some employers are implementing measures to help their employees ease the cost of driving to work.
Lehman Brothers reduced its estimates for General Motors, cutting the share price target to $19.50 from $24, citing a fall in sales of pickup trucks and SUVs as well as a doubling of steel costs among headwinds facing the car maker.
It's not often that an e-mail makes me stop and say "Hmmmmm. Do a lot of people feel the same way?" But, this one from Nathan did just that.
Ford Motor plans to cut its U.S. salaried work force by up to 12 percent after its turnaround plan stalled because of the downturn in the U.S. economy, the Detroit News reported Wednesday.
It's MINI that may be best positioned right now. WIth sales up 29.9% this year, The MINI Cooper and Clubman are compact cars with the unique combination of style and fuel efficiency in a tight little package.
Depending on where things end up Friday GM shares go into the weekend at roughly $17.50 a share. dropping roughly 4% on Friday. It's nothing short of a horrendous end to a very tough week for General Motor's shareholders.
Ford Motor warned on Thursday that it no longer expects to meet a key target of returning to profitability in 2009 and would cut production through this year in response to a slumping U.S. auto market.
An employee at a Chicago area auto dealer e-mailed that he has customers coming in with Escalades, Tahoes, Ram pick-ups and other large cars and trucks. He says those customers are often upside down on their loans and are surprised at how little they are getting offered for their ride.
In hybrids, Honda has announced that early next year it will roll out a lighter, more affordable 5 door hatchback that will look similar to the hydrogen fuel cell FCX Clarity model. The plan: annual sales 200,000 worldwide, including a 100,000 here in the U.S.
Calling all truck lovers. Yes, those of you who drive a pick-up every day to work and those of you who just feel at home driving a big ol' F-Series or Silverado. Here's a question to ponder: Whatever happened to the small pick-up? You know, one like Ford's Ranger, which provided a basic, if sometimes unspectacular ride.
A friend of mine said it best this weekend. He owns a Lincoln SUV that he wants to sell. Understandably, he's having trouble getting anything close to what he thinks he should. The frustration on his face was evident as he told me, "I guess I'll just take a bath on it."
United Auto Workers officials Sunday urged American Axle & Manufacturing Holdings workers to ratify a contract that would cut wages by almost 40 percent, shutter three plants and end a three-month-old strike with a subsidy of $218 million from General Motors.