Aug 22- American Securities LLC- backed auto parts maker Metaldyne Performance Group Inc filed with U.S. regulators for an initial public offering of its common shares. Merrill Lynch, Pierce, Fenner& Smith, Goldman Sachs and Deutsche Bank Securities Inc are the lead underwriters for the offering, the company said.» Read More
Carmen reveals the silver lining in this economic mess. Are you ready to take advantage?
Over the last two weeks I've done several reports on TV and written in this blog about tighter credit hurting auto sales. For the industry, September sales dropped 27% and nearly everyone in the industry admits that a big reason for the plunge has been the deteriorating credit markets.
How bad is the auto business right now? Every automaker is feeling the pain, not just the Detroit 3. In the last week, showroom traffic (people simply visiting a dealership) is down 50% compared to the same time last year.
Whether or not you agree with Congress voting down the $700 billion bailout, one thing is clear, this is bad news for automakers and auto dealers.
Shares of Chinese battery maker and 'green' car maker BYB Company Limited soared 42 percent today in Hong Kong trading, after this weekend's announcement that Warren Buffett is investing in the company.
Call it the Prius Principle. Toyota's Prius was not the first hybrid, nor, you could argue, was it the best gas-electric car in terms of performance. Still, ask 90% of America about hybrids and Prius is the first thing they mention.
A subsidiary of Warren Buffett's Berkshire Hathaway is making a $230 million investment in a Chinese battery company that's developing environmentally-friendly cars to be sold around the world. In a news release, Berkshire's MidAmerican Energy Holdings says it has agreed to buy a 10 percent stake in BYD Company Limited, which trades on Hong Kong's stock exchange.
General Motors Chief Executive Rick Wagoner on Thursday said September U.S. auto sales were running about flat from August as tight credit markets crimp demand.
By the end of this weekend, lawmakers in Washington are expected to approve $25 Billion in low interest federal loans.
Chrysler CEO Bob Nardelli says tighter consumer credit is making it tougher to sell a car. Now the industry as a whole wants the federal government to take bad auto loans off the hands of auto finance companies.
Ladies and gentleman, there's a new team entering the great race in the auto industry to build the first mass market electric vehicle: It's Chrysler.
A proposal to fund $25 billion in low interest loans to the auto industry was included on Monday in draft legislation that could be considered by the U.S. Congress later this week.
Over the last six months as I've filed numerous stories about the Chevy Volt, Nissan's plan to build an electric car, and Ford's focus on increasing fuel efficiency, I have heard the same thing from you: That's great, but what's Toyota doing?
You know what I've heard a lot this week? Auto sales will stay weak through 2010. This has me wondering where the buyer has gone, and why some are convinced the buyer won't come around anytime soon.
I admit e-mail responses from bloggers and readers is not a scientific sampling. I admit these answers may only represent a small portion of the public.
Long before General Motors unveiled its new electric car, the Chevy Volt, there was a buzz around GM that this car should be a winner. That's right, I used the words: should be. Predicting any car will be a hit is often a fool's game.
Today marks the last day of General Motors first 100 years. While the company will mark the occasion tomorrow by unveiling it's new electric car, the Chevy Volt, I have a much more sobering question:
General Motors Corp. said Friday it delivered a hydrogen fuel cell electric vehicle to the Environmental Protection Agency as part of a market test for the technology.
CEOs from various industries gathered to talk about the recent events in the economy and its affects on their companies. Watch the following videos for what each had to say.
When Ford CEO Alan Mulally sat down with me and the anchors of "Squawk Box" this morning, his candid comments about federal loans to automakers show congress is likely to lend the money. As I've said before, I think it's money well spent.