TORONTO, July 2- A healthy appetite for trucks and luxury cars pushed auto sales in Canada to a record high for June, with Fiat Chrysler Automobiles the top seller, according to data released on Thursday. "Ongoing gains being enjoyed by the luxury manufacturers in the Canadian market turned into a veritable feast in June," DesRosiers Automotive Consultants wrote...» Read More
The message from General Motors chairman and CEO was clear and direct: The company has no plans to cut anymore of its brands. I asked Wagoner about cutting the brands when I caught up with him after a speech here in Dallas.
On Mad Money we pander to neither panic nor euphoria. On Tuesday, an up day, Jim urged everyone to get out of the financials. I can't emphasize how important it is that we go negative on up days, but history can. The 234 point rout yesterday afternoon is a pure example of what I'm talking about. We try not to be too down on down days, and emphasize extreme caution on up days because that's useful.
I've said it for some time, and will continue to say it to anyone who asks. The flexibility Asian automakers have to build different vehicles in different plants is the reason they'll ride out this tough time better than the Big 3.
Boeing on Wednesday raised its outlook for spending on commercial airplanes over the next 20 years by 14 percent, helped in part by an expected 5 percent rise in worldwide air travel and the demand for new, more fuel-efficient planes.
For as long as I've worked the auto beat, I've heard the same thing, "watch out for the Chinese car companies!" The theory/fear being, Chinese automakers will get to the U.S. market and work quickly to make their mark.
General Motors is developing plans to cut costs and improve its "cash and funding position," Chief Executive Rick Wagoner said in an e-mail to the automaker's managers and team leaders.
After blogging yesterday about the latest discussion at General Motors about keeping/selling/killing some of it's eight brands, I was inundated with e-mails suggesting what GM should do.
Mazda Motor is confident it will achieve its U.S. sales target of 290,000 vehicles in the business year to next March despite a sharp downturn in that market, a top executive said on Tuesday.
General Motors may get rid of some brands, speed the introduction of small cars from other markets and make further white-collar job cuts as it tries to deal with a shrinking U.S. auto market.
As GM slogs through a summer of sickening sales, there's growing speculation GM CEO Rick Wagoner will do an about face and finally cut some of the automaker's brands in an effort to stop the bleeding.
No. 1 U.S. automaker General Motors is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.
J.D. Power Automotive Forecasting on Friday reduced its forecast for west European car sales in 2008 and 2009 and now expects falls of 4 percent and 1.3 percent respectively.
Just when you think, "How much worse can it get for General Motors, along comes a day like yesterday. When Merrill Lynch downgraded the stock and said "bankruptcy is not an impossibility" for the automaker what was already a horrific slide became even worse.
Why it makes more sense to stick with a cheaper, but still fuel-efficient, set of wheels.
General Motors will need to raise as much as $15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said.
Talk about a tough week. On Monday Chrysler announced it would be shutting an assembly plant outside St. Louis and stripping out the shift of another one in Missouri. Then yesterday, the company reported June sales that put the company's market share for the month at 9.9%.
Here are some easy rules to help you figure out which is the better option for your lifestyle.
General Motors surprised investors with a sales decline that was much less steep than expected, and the company's shares skyrocketed higher.
Talk about throwing a curve to the experts. June auto sales shows that some people have been too quick to jump the gun and assume certain automakers would sell, or not sell.
Yesterday, I wanted to take a pulse of the American car/truck owner. I asked a simple question: Are you giving up on GM? Why or why not? Granted, this is a highly non-scientific poll, but the answers were intriguing.