Consumers have feasted on discounts this holiday season, but it means thinner profit margins for retailers.» Read More
Phil Flynn, a representative of Alaron Trading, told CNBC’s “Squawk Box” that refinery outages and strong demand will create tight gasoline supplies this summer.“This is the worst I have ever seen it at this time of year,” Flynn said Friday. “Our supply vs. demand has never been this tight before. It’s going to be a very dangerous summer and real bad luck for the consumers.”
Two pieces of news this week make it clear that the people in the market for a new car or truck have some opportunities to make their choice of leasing or buying more interesting. First, leasing is coming back. The latest data shows the percent of domestic cars and trucks being leased continues edging higher. It was up to 17.3% in the fourth quarter of last year. The highest point since leasing rates bottomed out at 10% in 2003. But still well below the high of 23% for leasing rates back in 1999. Leasing's comeback is due to a couple of changes in the industry.
A top DaimlerChrysler executive is scheduled to meet in New York this week with bidders for the German auto maker's Chrysler unit but it appears that billionaire Kirk Kerkorian's Tracinda isn't among those on the invitation list, The Wall Street Journal reported.
Today in New York, the man leading the Chrysler auction is beginning meetings with those firms pursuing the American automaker. Two private equity companies, Blackstone Group and Cerberus Capital, as well as Canadian auto parts maker Magna corp. will all meet with Daimler executives to discuss round two of the Chrysler auction.
Ford Motor said Tuesday it was recalling more than 500,000 Ford Escape sport utility vehicles after receiving reports of engine fires linked to corrosion on antilock brake connectors.
The head of the Canadian Auto Workers says he will try to thwart billionaire investor Kirk Kerkorian's bid for Chrysler, fearing Kerkorian will cost thousands of workers their jobs.
Talk about a catch 22. After making a big push to jump start production of rear-wheel drive vehicles, General Motors , according to the Chicago Tribune, is putting the brakes on developing more of those cars beyond what's already in the pipeline. Why?
Shares in German sportswear maker Puma rose after French luxury-to-retail giant PPR (up 2.61%) made a 5.3 billion euro ($7.1 billion) takeover bid for the company.
Sweden's Volvo AB is targeting 30% growth in truck sales in China in 2007, a senior company executive said on Tuesday.
Criminal entrepreneurs are eschewing hubcaps and hood ornaments for the precious metals contained in cars' catalytic converters.
These are interesting times for Ron Gettlefinger and the United Auto Workers. What at first blush appears to be a golden opportunity for the union, is a double edged sword. Last Thursday, Kirk Kerkorian's Tracinda Corp made a public bid to buy Chrysler that includes an offer to have the UAW take an equity stake in the company. Once the word got out, people in the industry at the New York Auto Show started speculating the UAW will jump at the chance to own part of the big 3.
Japan's Isuzu Motors said on Monday it has bought land for a U.S. truck plant in Alabama, pushing ahead with plans to reestablish a production base in the world's biggest vehicle market.
There’s a lot on the line for General Motors, Ford and DaimlerChrysler at the New York International Auto Show. CNBC’s Phil LeBeau talks to some of the automakers’ top executives top about meeting consumers needs for style, versatility and affordability.
Kerkorian's bid, about one-fifth of what he offered in 1995, reflects the falling fortunes of Chrysler Group, which lost $1.5 billion last year and has announced 13,000 job cuts in North America and reduced production.
Even though he’s a legend on Wall Street, known for his stock-picking prowess and overall trading genius, Cramer isn’t afraid to take an idea from a student. And few people are as deserving of such praise as Indiana University’s Dan Jacome. Here’s why.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
General Motors is showing off three Chevrolet minicar concept vehicles at the New York International Auto Show, which runs through April 15. But don’t run to your local dealership just yet. It’s likely the cars are still four to five years away, which makes all the buzz around them key to the automaker's development strategy, analysts say.
Ford Motor, which posted a loss of $12.7 billion last year, said Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.
General Motors, Ford and DaimlerChrysler reported declines in March U.S. sales, fulfilling analysts' expectations that the Big Three U.S. automakers would all see a drop from the same month last year. Meanwhile, sales at Toyota rose, though less than expected.
Tom Libby, an auto analyst for J.D. Power and Associates, told CNBC’s “Squawk Box” that Jeep may be diluting its image with too many “cross-over”models, or SUVs based on cars.“I think long-term there is an issue about whether they’re helping or hurting the brand,” Libby said Thursday. “These new products are car-based. Frankly, the Compass does not look a ‘Jeepish’ – it does not have the masculine, assertive, aggressive look of traditional Jeeps. Long-term, I think there’s the possibility they’ll dilute the image of being a tough, off-road SUV.”
General Motors today unveiled a mini-car prototype, while Ford discussed a plug-in hybrid vehicle it is developing at the New York Auto Show.