DETROIT— Ally Financial Inc. on Tuesday reported a second-quarter profit after posting a loss in the same period a year ago as more people deposited money into its bank and demand for auto loans increased.» Read More
Nissan-Renault's chief executive officer Carlos Ghosns $3,000 project to build a small car using Indian expertise could trigger off a new partnership for Renault in India with Bajaj Auto, local business daily The Economic Times said.
Even as the Fourth of July has come and gone, Jeep's Patriot is as hot as a firecracker. How hot? In the latest survey of the hottest selling vehicles by J.D. Power's Power Information Network, the Patriot SUV was the seventh fastest-selling vehicle in the U.S. last month. On average, Jeep dealers kept the Patriot on lots fewer then 20 days, while the industry average is roughly 60.
Cerberus Capital Management Chairman John Snow said on Wednesday the private equity firm was 'confident' in securing Chrysler financing and sees the deal closing in the current quarter.
Billionaire Carl Icahn's sweetened $3 billion buyout offer for auto parts maker Lear has gained little traction among top advisory firms or shareholders ahead of a scheduled vote next week.
Forget the ads touting which full size pick-up has more hauling capacity, or which one can stop just before going over the edge of a cliff, or even which truck makes you feel more American, rural, or cowboy. None of that matters. Here's what talks with truck buyers: cash. The more the better. And right now, pick-up buyers are picking up deals that have them sitting in the catbird seat. In fact, GM is doubling the cash back it's offering people who buy a new Chevy Silverado or GMC Sierra. That's an extra $1,000 on top of 0% financing.
Billionaire investor Carl Icahn's American Real Estate Partners raised its takeover offer for Lear to about $3 billion after shareholders balked at a previous buyout proposal, but the auto parts maker's second biggest shareholder remained unconvinced.
Is it a sign that we truly are in an iPhone world or a bleak reminder to automakers that it's tougher than ever for them to impress younger car buyers? Either way, the research is fascinating. The latest data from CNW marketing shows that younger consumers (ages 16-29) rank tech gadgets like the iPod/iPhone, gaming systems, and computers as more important than a new car when it comes to impressing friends.
Private equity firm Carlyle Group said Monday it would buy aircraft and auto parts maker Sequa for $2 billion.
General Motors sales outgrew the broader European car market in the first half as a surge in demand for its Korean-built Chevrolet brand cars offset a hefty decline in Saab sales, the automaker said on Monday.
Workers at struggling auto parts giant Delphi's largest union have approved a historic contract agreement that cuts wages for many longtime workers but secures thousands of jobs at plants that once were in jeopardy.
Dana said Friday it has reached deals with the United Steelworkers and United Auto Workers on more than $100 million per year in cost cuts the car and truck parts maker needs to exit bankruptcy.
Automaker BMW said Friday that sales in the first six months of the year rose by 4.5%.
Peugeot said its first-half sales were unchanged compared with the year-earlier period at 1.764 billion units, while its market share in Western Europe rose by 0.2% to 14.2%.
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.