A new study shows the average household in 24 of America's 25 largest metropolitan areas cannot afford to pay for the average priced new car or truck.» Read More
General Motors is raising incentives to boost sales in August, mainly in the full-size pickup truck segment, the automaker's global head of product development said Thursday.
Admit it, the headline caught your attention. Admit it, you may have scoffed and said, "yeah right" sarcastically. Admit it, you never imagined Buick and Lexus would be considered "equals."Well, back up your daddy's LeSabre and check out the latest vehicle dependability results from J.D. Power and Associates. For the first time in 12 years, another brand tied Lexus.
Top Japanese tire maker Bridgestone posted a 21.3% rise in half-year operating profit as the yen weakened and sales grew, especially in higher-margin segments, and tweaked its recently increased forecasts for the full year.
Matt Murphy, who caught home run ball No. 756, wasn’t the only winner on Tuesday night, so too was Kragen Auto Parts, whose rotating sign was behind home plate when Barry Bonds hit the record-breaking shot. Eric Wright of the sponsorship evaluation firm Joyce Julius & Associates told me this morning that he believes Kragen will receive in between $5 million and $6 million in equivalent advertising time for being associated with the moment...
There's a new video on the web that's sure to entertain skeptics of the Chinese auto industry. It's video of a car from China's Chery Automobile faring poorly in a crash test in Russia. For those who fear the Chinese auto industry hurting the Big 3, this video will give them the ammunition they need to take shots at the Chinese.
DaimlerChrysler still believes it has excess liquidity on hand but has not yet decided what to do with it, a spokesman for the world's fifth-biggest carmaker said on Wednesday.
Amid the headlines this weekend about Cerberus closing the Chrysler deal and shaking up management at the automaker, one piece of news came out that blew me away. In the second quarter, Toyota posted a record profit of $4.13 billion dollars. Sounds staggering by itself until you look at it this way: every day last quarter Toyota made more than 44 million dollars. Almost 2 million dollars a day!
BMW, the world's biggest producer of luxury automobiles, said Tuesday that sales rose in July, as well as in the January-July period, on continued demand for its BMW, Mini and Rolls-Royce brands.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.
Cerberus Capital Management named former Home Depot Chief Executive Robert Nardelli as chairman and chief executive of Chrysler in an executive shake-up just after the private equity firm completed a deal to acquire the struggling No. 3 U.S. automaker.
Talk about moving fast. Just two days after taking ownership of Chrysler, Cerberus Capital has put a new man in charge of the struggling automaker. And it's a bold move picking an auto industry outsider. Bob Nardelli steps in as Chrysler's chairman and CEO in a move that many will question. Yet, I think this move could work for a couple reasons.
Ford Motor said Friday it is recalling 3.6 million passenger cars, trucks, sport utility vehicles and vans to address concerns about a cruise control switch that has led to previous recalls based on reports of fires.
German automaker DaimlerChrysler said Friday it has completed the sale of a majority stake in its U.S. Chrysler division to the private-equity firm Cerberus.The $7.4 billion deal sets the beleaguered 82-year-old Chrysler on a new path to recovery as a private company.
Toyota Motor's quarterly operating profit rose by a better-than-expected 32% as brisk overseas sales combined with a softer yen to make up for chronic weakness in domestic demand.
Call this the tale of two brands going in opposite directions. One knows its core market and continues to roll out hot models that win over fans. The other is drifting with sales slumping and serious questions mounting about its future. When I look at the July sales, I'm struck by the numbers at Buick. How bad was it? Sales dropped 29 % and every single model was down at least 17%. Think that's bad?
On a regular basis, I hear from bloggers who think I'm pushing Toyota and would like nothing more than to see the Big 3 implode. In fact, I got an e-mail to that effect yesterday after blogging about the possibility of Chevy and Ford being outsold by the Toyota brand. For the record, Toyota has passed Ford, but still trails Chevy by a slight margin.
U.S. auto sales dropped in July as weakness in the housing market sapped demand, increasing pressure on the embattled Detroit-based automakers and hitting Toyota Motor with its first sales decline in almost three years.
When the July auto sales come out later today, the most interesting numbers to watch may be those for Chevrolet and Toyota. Halfway through this year the two were neck and neck in the battle to be America's top selling brand. I know some of you will read this and think, "who cares?". Well, the long list of people who care stretches from Detroit to Tokyo, and for good reason.
A selling wave in global stock markets is sweeping futures lower this morning as subprime and credit woes once more rise to the surface. A new disclosure about a third troubled hedge fund at Bear Stearns is rattling investors.
Auto parts supplier and tire maker Continental said Wednesday that its second-quarter net profit rose by 50% amid demand by car makers for its automotive parts and tires.