Brian Sponheimer, auto & capital equipment analyst at Gabelli & Company, explains why he's not worried about slower-than-expected U.S. auto sales in February.» Read More
In the last three weeks, the message has been coming from a variety of sources, but it's generally been the same: forget about the auto industry rebounding anytime soon. In fact, some are saying things may get worse before they get better.
Honda Motor posted a surprise 8 percent increase in quarterly net profit after it raised car prices and cut costs, helping it overcome a stronger yen, crumbling U.S. auto market and higher commodity prices.
Kia Motors, South Korea's No.2 automaker, said on Friday its quarterly operating profit more than tripled, but its results missed a forecast as higher overseas marketing costs offset stronger sales.
Daimler cut its 2008 earnings outlook on Thursday, saying it would not be able to offset a global growth slowdown, rising raw material prices and the strong euro by selling more vehicles and cutting costs.
See what Beijing is doing to tackle its air pollution problems and listen to a CEO's comments on New York's real estate business. Following are today's top videos:
General Motors trailed Japanese rival Toyota Motor in global vehicle sales decisively through the second quarter and first half of the year, hurt by a large decline in North America.
The nation's power grid is sorely in need of being updated. In many areas it's pushed to the limit, especially during high use times like the summer months. Remember a few years ago when there were rolling brownouts in California?
Second-quarter operating profit at Volkswagen rose, the world's fourth-largest carmaker said on Wednesday, easily beating market expectations.
Europe's second-biggest car marker PSA Peugeot Citroen on Wednesday maintained its operating profit margin target for 2008 as first-half earnings rose more than expected on the back of cost cuts.
Toyota Motor may cut its 2008 global vehicle sales target by as much as 350,000 units to about 9.5 million because of declining sales in the United States, Japan and Europe, according to news reports.
Maruti Suzuki India, the country's top automaker, reported a smaller-than expected 7 percent fall in quarterly profit, as high costs of raw materials and a new depreciation policy outweighed higher sales.
It may be the number one question I get from people when they ask about the struggling U.S. automakers: Who would want these guys if they ever go belly up or get sold?
First, as oil has dropped like a rock, a lot of money has shifted, at least temporarily from commodities to stocks. Money that had to go someplace, and GM shares were a perfect buy. This stock, in my opinion, was way oversold when it dropped under $9 a share.
Over the last two months, I've heard one comment over and over about the dire straits Detroit's Big 3 find themselves in right now: Just go bankrupt and wipe the slate clean. This is one of those ideas that on paper makes sense on some level.
As if rising gasoline prices weren't enough, motorists are being hit by higher parking charges, with London coming up tops as the world's most expensive city to park your car, according to a survey.
Delta Air Lines and AMR both swung to a hefty losses, but their shares took off as the results beat diminished forecasts.
Amidst all the talk about GM coming up with $15 Billion dollars to increase liquidity there was an important announcement about new models coming from the struggling automaker. Seven new ones that will be key to fueling GM's recovery.
The European car market suffered another month of heavy declines in June and its fourth drop overall this year as rapidly deteriorating economic conditions kept new car buyers from leaving the house.
Tires-to-brakes maker Continental rejected a surprise 11.2 billion euro ($17.8 billion) bid from Schaeffler Group on Wednesday, saying only the family-owned firm would benefit and that its offer was too low.
Toyota Motor will cut its global sales target for calendar 2008 by 3.6% to 9.5 million vehicles to reflect a sharp slowdown in the United States, Japanese national broadcaster NHK said on Wednesday.