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Shares in Fiat fell 0.3% Thursday as investors reacted to the launch of the new Cinquencento, an entry-level car revamped for the 50th anniversary of the original model.
Mark it down. It was this Tuesday, July 3rd--on the eve of America celebrating its independence--when one of the Big 3 made the first deal to have an American brand car built in China and sold here in the U.S. The deal is between Chrysler and Chinese automaker Chery Automotive. Chrysler CEO Tom Lasorda signed the agreement with Chery's CEO in Beijing and heralded it as a "win/win deal". Chery wins because it's collaboration with Chrysler will help that company learn the ropes of what it will take to ultimately sell Chery vehicles in the U.S.
Chrysler Group signed a deal Wednesday with China's biggest automaker, Chery, to produce cars for export to the United States and elsewhere in the first attempt by a major automaker to use China as a manufacturing base for world markets.
GM, Ford and DaimlerChrysler said Tuesday their U.S. sales fell in June, while Toyota sold more cars during the month. The news came as an industry group reported that automakers are deepening discounts to entice consumers to buy cars.
DaimlerChrysler said Tuesday its U.S. sales fell 2 percent in June. The news came even as an industry group reported that automakers are deepening discounts to entice consumers to buy cars.
On the eve of our country's birthday, it seems like a perfect time to celebrate the good things happening for American automakers (and yes, there are good things happening). So with that said, this 4th of July Behind the Wheel blog will include no mention of high labor and healthcare costs, dwindling market share, or the struggle to break even. After all this is the holiday to sing out, "Baseball, hot dogs, apple pie, and Chevrolet."
Private U.S. equity firm Cerberus won approval from the European Commission on Tuesday to buy the Chrysler operations of auto giant DaimlerChrysler, under a simplified procedure.
Unionized workers at Kia Motors, South Korea's No. 2 auto maker, said on Tuesday they plan to stage work stoppages over wage disputes.
Bankrupt U.S. auto parts maker Delphi, which reached a cost-cutting deal with the United Auto Workers, hopes to complete agreements with its remaining unions by mid-August, it said in court papers.
The headline this morning from Automotive News is hardly surprising, but it is another reminder of how the U.S. auto industry has changed dramatically in recent years. The latest data shows Japan surpassed the U.S. last year to become the world's #1 vehicle producer. It's the first time in 12 years Japan has outpaced the U.S. Not only that, but the Asian country is on track this year to expand its lead.
European auto manufacturers will struggle to maintain credit ratings in a very difficult environment despite expected long-term global growth in demand, Moody's Investors Service said in a report. Over-capacity is just one of several challenges the Original Equipment Manufacturers are facing, the agency added.
Middle Eastern investment funds are targeting Jaguar and Land Rover, the British luxury car brands that U.S. owner Ford Motor is considering selling, the Observer newspaper said on Sunday.
The stock market's recently moody and wild swings should give way to a less rambunctious holiday week where traders focus on upcoming earnings and economic fundamentals.
The United Auto Workers said that members have ratified a deal that gives Delphi concessions on wages, benefits and plant closings the auto parts maker has said it must have to exit bankruptcy.
For investors, employees and retirees of General Motors this has been the spring of smiles. Consider this: shares of GM are at a multi-year high, Wall Street (including S&P today) is becoming more optimistic about GM's recovery and there's a genuine feeling the company will come out of the UAW contract talks in pretty good shape.
It seems obvious, but if you look at the latest survey by J.D. Power and Associates of what appeals to new vehicle buyers, there's a consistent theme. The luxury automakers are meeting the needs and desires of their customers. The top 5 on the list: Porsche, BMW, Mercedes, Jaguar, and Lexus. The top three are a repeat of last year's survey with Jaguar jumping into the top 5.
General Motors Thursday said it reached a deal to sell its Allison Transmission unit for $5.6 billion to private-equity firms Carlyle and Onex, sending the automaker's shares to the highest level in 2-1/2 years.
Ford will offer zero-percent financing for three years on all 2007 Ford, Lincoln and Mercury models and additional cash on some vehicles as it tries to clear showroom floors at the end of the month.
Billionaire investor Carl Icahn told CNBC that he is standing firm on his $36 dollar-per-share bid for auto parts maker Lear Corp. "There's no way we're going to raise it," Ichan said in an interview with Maria Bartiromo.
Travellers switching from cars to bus and rail due to environmental concerns helped Britain's Stagecoach boost year profit by 38%, beating forecasts, as it reported a strong start to its new financial year.