Auto loans are up 29% and there is a boom in demand for SUVs, reports CNBC's Phil LeBeau.» Read More
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.
For Ferrari fans, outside of a owning/driving a vintage model, the only thing better is climbing into a new model for the first time. This is the reason, many will be watching with great anticipation when Ferrari unveils its newest model, the California, at the Paris Auto Show in October.
Here's one for those of you who think auto manufacturers should be trying to build cars that get 100 mpg (and yes, there are a lot of you out there based on the e-mails I get from you). Tata Motors is the first mass-market automaker to enter the automotive X Prize competition...
I have to admit that I was like many of you when it came to the Smart Fortwo compact car. I thought it was a cute little car, but how could that pint size ride possibly keep you safe in an accident?
The future of mass market quantities of electric cars is getting a big push today from one on the more "electric" leaders in the auto industry. Nissan/Renault CEO Carlos Ghosn is expected to announce his company plans to sell its first electric cars in the U.S. by 2010--according to the New York Times.
The Nissan Motor Company plans to sell an electric car in the United States and Japan by 2010, raising the stakes in the race to develop environmentally friendly vehicles