General Motors is dropping Chevy as its No. 1 brand for mass-market vehicles in Europe and is making Opel its primary mainstream line.» Read More
There was a time when it took guts for a politician to go in to Detroit and tell the heart of America's shrinking auto business that it needs to change its act. Not anymore. As Barrack Obama found out Monday, when speaking at the Detroit Economic Club.
Automobiles today are a lot more efficient compared with those in the bellwether year of 1973—when the average car managed just 13.4 miles per gallon. Legislation enacted in 1975 set a standard—27.5 mpg by 1985 for new cars on a fleet average for each manufacturer.
The road is getting much clearer. On Tuesday, a legislative draft will emerge from committee, and head to the floor of the U.S. Senate. It might not get that much notice in itself, but it ought to, because it tells you how much has changed on energy issues. And, given its probable passage (or that of something along those lines), the new legislation will have a big impact on the automobile industry.
Canadian automotive parts supplier Magna International is the only remaining interested bidder for struggling U.S. carmaker Chrysler, Germany's Automobilwoche reported on Saturday.
There's plenty of talk today about the possibility of $4 gas this summer. If that happens, this could be one long hot summer for the Big Three. Thursday, when I talked with him, General Motors CEO Rick Wagoner indicated the country's largest automakers are already noticing a repeat of last year, when buyers moved from big rigs (trucks and SUVs) and more towards smaller cars.
Hey everyone. Here are today's trivia questions; The video question is worth $2,000 Bonus Bucks: Gas prices have surged over the past month. How much have gas prices increased over the past month? Your selection of answer is: $0.37 or $0.10 or $0.50 or $0.30. The news question is worth $1,000 Bonus Bucks: Eastman Kodak reported a loss of how much for the first quarter of 2007? Your selection of answers is: $151 Million or $160 Million or $138 Million or $110 Million.
Hey folks. Here's our re-cap of the day. We have the leaderboard, most active and widely held and the trivia questions. Here we go. The video is worth $2,000 Bonus Bucks: General Motor's earnings came in below analyst expectations. What were earnings per share? Your selection of answers is: $0.17 or $0.10 or $0.19 or $0.23.
If this sounds like a broken record, forgive me. But if you are looking for a reason why GM's turnaround is only a mild success, it's right here in the U.S. Just check out the company's latest earnings, which show a profitable business around the world, but one that is still in the red in the land of the red, white and blue.
Richard Wagoner, chief executive officer at General Motors, told CNBC’s “Squawk Box” that he’s confident the company’s North American operations can be profitable.
General Motors said its first-quarter earnings slumped and revenue fell from the same quarter last year. The $305 million overall loss at finance arm GMAC "pretty much accounts for any difference in (earnings expectations)," GM Chairman and CEO Rick Wagoner told CNBC's Phil LeBeau.
Hey folks, time for the day's trivia questions. The video is worth $2,000 Bonus Bucks: General Motor's earnings came in below analyst expectations. What were earnings per share? Your selection of answers is: $0.17 or $0.10 or $0.19 or $0.23. The news question is worth $1,000 Bonus Bucks: RIM is rolling out a new smaller and lightweight full keyboard BlackBerry. What is the new smartphone called? Your selection of answers is: The Quartz or Blackberry Curve or Blackberry Qwerty or The Razor.
Here's a look at the stocks making contest "news." Earnings helped the best performers while M&A talks took their toll on the worst performers--as you'll see below. Charter appears on the most widely held list as well as taking its usual spot on the most actives. If there's a lesson here folks--it's earnings--which can boost a stock for big gains--but can also hurt. The guessing "game" as always, is to figure out which way they will go.
Truck maker MAN, which failed in its plan to buy Scania, said Thursday its first-quarter profit rose 47% as demand for its trucks and cost-cutting plans bore fruit for the company.
Luxury car maker BMW said Thursday its first-quarter profit dropped 38% as it spent more money on launching new models and because last year's figure included a one-time gain.
Chrysler's famous Hemi V-8 engine, known more for power than fuel economy, will become more fuel efficient when the company rolls out a hybrid version early next year. Chrysler Group announced Monday that it will offer a hybrid Hemi in its Dodge Durango and Chrysler Aspen sport utility vehicles that will improve their fuel economy by nearly 40% in the city and about 25% on the highway.
Legislation aimed at preventing retailers and other nonfinancial companies like automakers from operating a bank was approved by the U.S. House Financial Services Committee.
Hyundai Motor, South Korea's top automaker, on Wednesday posted a fourth consecutive fall in operating profit, hit by weaker sales amid a labor dispute, higher raw material costs and a firmer won currency.
As expected, April auto sales left a lot to be desired. Overall, they were lackluster. But if you look within the numbers, one thing is clear: CUV (crossover utility vehicle) sales continue to grow -- not surprising when you consider that buyers still want the versatility to haul people and stuff. The CUVs hitting the market allow us to do that, while getting slightly better gas mileage and giving a better ride than we get with traditional SUVs.
Hitting home: When a big story hits, it’s always very exciting. It’s also a bit nerve-wracking when the story, at least potentially, involves you personally. David Faber’s big scoop today qualified on both counts. During "Morning Call," David broke the story that News Corp. was bidding $60 per share to acquire Dow Jones -- sending quite a wave of excitement throughout our newsroom. It’s not just a potentially huge takeover deal -- it’s one that could change OUR lives tremendously.
General Motors, Ford Motor and DaimlerChrysler's Chrysler Group all reported April sales that beat expectations, defying predictions that the poor housing market and high gas prices would drag automobile sales sharply lower.