Deloitte, whose audit clients range from carmaker General Motors Co to investment bank Morgan Stanley, achieved total fees including consultancy work of $34.2 billion last year, giving it a $248 million lead over second-placed PwC, the annual International Accounting Bulletin World Survey said. Rob Tautges, chief executive of mid-tier firm HLB...» Read More
We knew they would be bad, and they were. In fact, February auto sales make it clear, the consumer is tired, nervous, worried: you-fill-in-the-adjective. Look at the numbers: GM down 16.7 percent (including trucks down more than 22 percent)
Ford Motor said Monday it would eliminate shifts at four U.S. plants and lay off some 2,500 workers -- or almost 5 percent of its remaining work force -- as part of an effort to cut costs and return to profitability next year.
European stocks closed lower across the board Monday, despite recovering form earlier lows, with banks suffering the worst of the selling on continued concerns over the state of the U.S. economy.
Later today, the February auto sales will come out. By all accounts, the numbers will likely be awful. Not just lower, but in the words of one industry veteran, "terrible." We'll have to wait and see what the actual numbers are, but I won't be surprised to see industry sales down 10 percent.
German sports car maker Porsche will increase its 31 percent voting stake in Volkswagen to a majority but does not intend to merge the two carmakers, Porsche said on Monday.
German carmaker Volkswagen said on Monday it would raise its stake in Swedish truckmaker Scania to 68.6 percent, a move that may lead to a merger of Scania and German truckmaker MAN.
We've all done it. When we've gone looking to buy a new car, we get a price on a model or two and then we think to ourselves, "Ok, THIS is what this car is going to cost me." Now we may need to re-think that approach.
They've done it again. The Asian automakers, especially the Japanese dominate the latest Consumer Reports survey (subscription needed for full reports) on auto reliability. Of the 33 models CR picked to be "most reliable," 23 are from Japanese automakers. Some, like the Toyota Prius, we've come to expect to see on the list.
Later today we'll find out if the time, money and effort the Big 3 have put into building more reliable cars and trucks has paid off. Consumer Reports releases its 2008 auto reliability survey and the question for many is: Are the Big 3 finally getting their act together?
Ford Motor expects to produce 685,000 vehicles in North America during the first quarter of 2008, 55,000 fewer than the first three months of last year, the company said in a report filed Wednesday with the Securities and Exchange Commission.
Usually, when the United Auto Workers strike it's pretty big news. Usually, when the picket lines form, Detroit gets nervous. Usually, when the rhetoric heats up, so do the heart rates of executives running the Big 3. Not this time.
Toyota Motor will boost production capacity for its Lexus luxury cars in Japan by about 35 percent in 2009 to meet growing demand in emerging countries such as Russia and China, the Nikkei business daily reported on Wednesday.
The newest crash test study of mid-size SUVs has both good and bad news for those who drive these big rigs. And for some HUMMER owners, you have to be wondering if the "safe as a tank" perception some have of your ride is truly deserving.
AutoZone, the largest U.S. auto parts retail chain, posted better-than-expected quarterly earnings on Tuesday, helped by improved profit margins and sales to the commercial sector.
If you've read this blog for some time you know that my grammar (is it it's or its?) is spotty at times, and my use of words is sometimes off. OK way off. Last week, I used the phrase, "it peaked the interest,..", when it should have been "it piqued the interest,...". Several of you caught my screw-up and let me know about it. Guilty as charged.
OK, it's not as if HUMMER needs our sympathy. The folks running GM's supersized SUV line know they are fighting an uphill battle, trying to grow sales, expand the line-up, and shift HUMMER's image in the face of rising gas prices. But this is HUMMER, even if the execs there feel overmatched, they won't admit it. Nor should they.
A snowstorm blanketed the city early Friday, causing headaches for commuters and delaying flights at the region's major airports.
The latest survey by R.L. Polk about how long we hold onto our cars or trucks (on avg. 9.2 years) confirms something I've heard from many of you for some time: my car is old, but I'm not getting rid of it.
In a world where it's tougher and tougher to get a car or brand to stand out, Ford's incorporation of the Mustang into NBC's new version of "Knight Rider" is a move that should pay off. Since the show Sunday night, I've heard from numerous people who watched it and loved seeing the Mustang in a starring role. It was a prime time role Ford is counting on to continue changing its image.
Hertz Global Holdings said on Wednesday its fourth-quarter profit rose on an increase in worldwide car rental revenues.