SAO PAULO, March 30- Volkswagen AG has furloughed 4,200 workers at its second largest factory in Brazil for three weeks, a local union said on Monday, as disappearing demand forces carmakers in the country to manage excess capacity. As exports to Argentina have plunged and demand in Brazil hits its worst downturn in over a decade, VW is cutting a shift at the Taubate...» Read More
As I sat down to interview Chrysler CEO Bob Nardelli, Co-President Jim Press, and Co-President Tom LaSorda two things jumped out in my mind. First: is Chrysler's turn-around on target? Second: Do Chrysler's growth plans remove lingering doubts about the automaker's future.
It's not quite 1999, but it sure is starting to feel like that again. Back then, leasing a car was all the rage. The percentage of leased cars, trucks, and SUVs was substantially higher, and you often heard people say, "Don't buy it. Lease it!!"
As we watch GM and Ford shares approach lows we haven't seen since the days when Michael Jackson's "Thriller" was topping the charts, and while mighty Toyota ponders cutting truck production in the U.S., I decided Friday deserves some lovin'.
A 200+ point decline turns into a net gain on the Big Board as Standard & Poor's gives the market some confidence that the end is near. Also, oil and gold hit records and more in the Word on the Street.
BMW, the world's largest premium carmaker, reported slightly better 2007 results than expected on Thursday and named a new head of sales and marketing as its aims to boost sales at all three brands this year.
Auto stocks skidded Thursday after Morgan Stanley cut its sales and earnings outlook for major U.S. auto makers.
If you are in that group of people sick and tired of hearing about the popularity of the Toyota Prius, click off this page. Do it. I won't be offended and based on the e-mails I get here at Behind the Wheel, I know there are a lot of you who think the Prius is praised too much.
The head of Toyota Motor said he expected steady demand in North America this year despite a slowing economy, and said the automaker may need to take steps to counter a surging yen.
You figured the automakers would eventually scream "UNCLE!" I'm not sure it's a scream, but it's more than just a whisper. One thing is clear: the automakers are once again turning to 0 percent financing to spur sales that are stalling.
Cramer makes the call on viewers' favorite stocks.
One is cruising. The other is sputtering. One has lived up to its fabled name. The other is a shell of what it once represented. So why is the one that is struggling getting more attention than the one riding high? Because Rolls-Royce and Jaguar are in different places and facing different questions with their new models.
German sports car maker Porsche will not seek to raise its Volkswagen stake to 75 percent, it said on Monday, noting talk of such a move "overlooks the realities in VW's shareholder structure".
Volkswagen aims to more than triple annual car sales in the United States to more than 1 million a year by 2018, according to the Wall Street Journal on Monday, citing VW's top U.S. executive.
Here we go again. Oil is spiking higher (over $107 a barrel) and the folks in the auto industry are once again projecting that $4 a gallon gas may be here this summer. It's sparking a new round of discussion about whether this will prompt people to change their driving habits or the type of cars/trucks/SUVs people will buy.
After numerous road trips over the last week and half, it's been a while since I had a chance to share some of your e-mails about my recent blogs. And boy have some of them touched a nerve. On VW's turnaround plan, a number of you are skeptical. Glen told me, "Phil..it's all about "R.E.L.I.A.B.I.L.I.T.Y !!!!!!! Tell the new North American CEO to improve on that!!"
European markets closed lower every day except for Wednesday, with the financial stocks taking an especially hard battering on continued concerns over the state of the U.S. economy.
When you think of Volkswagen, what pops into your mind? Let me guess: the Beetle, Microbus, and Jetta all bring a smile to your face. Then it fades as you think about the Touareg, Phaeton, and a company that often appears lost. I call it the split personality of VW.
It was all about beautiful cars and gorgeous girls as CNBC took to the ground for the 78th Geneva Motor Show, where automakers revealed their latest models, concept cars and technical and environmental innovations for 2008.
American Axle & Manufacturing Holdings said Wednesday it plans to return to the bargaining table with striking workers, signaling movement in a strike that has shuttered plants and cut vehicle production at General Motors.
Here's something that should make you realize what crazy times we are living in: 9-year auto loans are popping up around the country. That's right, it wasn't a typo. Nine years! 108 months! Almost a third of the time used to pay off a conventional mortgage!