Aug 22- General Motors Co said it opened a fourth IT center in the United States in Phoenix, Arizona as it aims to improve performance and cut operational costs. The automaker said it expects to hire 1,000 employees at the center over the next five years. GM's three other IT centers are in Warren, Michigan, in Austin, Texas and in Roswell, Georgia.» Read More
If you've read this blog for long, you know how I feel about hydrogen fuel cell cars. Great potential. Limited real world possibilities right now. That said, this morning Honda gave us a glimpse into hydrogen's promise.
Relax. I haven't lost it. I agree that for many people (soccer moms, the guy putzing around the suburbs, etc) driving a gas guzzling SUV makes no sense. But there is a market out there.
A four-day strike over pay by hundreds of tanker drivers hit Shell fuel stations across Britain on Friday after last-ditch pay talks broke down.
A new survey today by Auto Futures Group/TechnoMetrica concludes that people would rather buy gas/electric hybrids instead of diesel powered cars. Diesel fans will roll their eyes and say that's ridiculous, but that's the way it is.
Ford Motor is assembling a plan to retool its North American truck plants to build cars in a bid to keep up with changing consumer demand in the United States, the Detroit News reported Wednesday.
The switch to 4 cylinders is picking up momentum, with the small engines powering almost half of all the vehicles sold last month. Yes, that's right, the 4 banger is doing a lot more than driving small and mid size cars. The reason? People are desperate to save money and these engines do that on two fronts.
Chrysler Chief Executive Robert Nardelli said Tuesday that the private equity buyers of auto maker Chrysler weren't second guessing their decision to buy Chrysler, and that the business was ahead of target.
NEW YORK (Reuters) - Chrysler LLC may cut production further amid a steep drop in truck sales, according to a Wall Street Journal online report citing an interview with Chief Executive Robert Nardelli on Tuesday.
Billionaire Kirk Kerkorian's investment company said Tuesday its tender offer for 20 million additional shares of Ford Motor attracted a huge response and will easily enable it to increase its stake in the automaker to about 5.5 percent.
Chrysler is not playing up the Challenger's HEMI engine as the classic muscle car returns. Who can blame them. The HEMI was a hot selling point a few years ago when gas was cheap and buyers clamored for power.
When gas prices spike, the public finally opens its eyes to alternatives. It happened in the mid '70's when compact cars became big sellers. It's happening again today with hybrids flying off of lots.
If speculation makes investing fun, then these stocks offer a wild ride.
Gushing oil prices could swamp stocks in the week ahead, and even if crude pulls back, expect volatility.
With oil surging to $138.54 and being projected by some to hit $150 by July 4, it's putting immediate pressure on automakers to adjust production and push small cars and crossovers while pulling back on trucks and SUVs. On paper, this shift seems simple enough. In reality, it's not so easy.
J.P. Morgan's strategist Thomas Lee told me this two weeks ago: "I think if oil stays at $130, equities are in big trouble...because there's so much pressure here on corporate America because of this oil price."
It's a major achievement Chrysler should rightfully be proud of. But it also highlights the next challenge for them, as well as GM and Ford: closing the "perception gap." First, here's the good news for the Big 3 on assembly plant efficiency.
This year Porsche is number 1 with an average of 67 problems per 100 made. It's followed by Infiniti (jumping from 9th to 2nd), Lexus, Mercedes and Toyota. The Porsche victory is not surprising given it historically does well in quality surveys. Infiniti's jump is impressive and will help that brand continue on the resurgence it's enjoyed in the last couple of years.
Mark it down. May is the month that finally broke the back of the Big 3's great run with trucks and SUVs. Oh sure, Detroit still dominates the truck business, but it's clear buyers want something less, that's what is hurting Detroit.
General Motors and Ford reported sharp falls in U.S. auto sales in May, with sales of trucks hit especially hard as consumers shied away from automobiles with low gas mileage. Toyota Motor, meanwhile, reported a smaller decline.
Residential Capital said Tuesday that parent GMAC and private equity firm Cerberus Capital Management agreed to inject more than $1.4 billion in cash, a move that may help the struggling mortgage lender stay solvent.