WASHINGTON, March 16- As details emerge about how General Motors Co dealt with faulty ignition switches in some of its models, car owners are increasingly angry after learning that the automaker knowingly allowed them to drive defective vehicles. Saturn Ion owner Nancy Bowman of Washington, Michigan, said she is outraged that GM allowed her to drive a "death trap."» Read More
General Motors declined comment on the report, which said the parties are working on it "at full speed."
A potential merger could see four major car rental brands, National, Alamo, Thrifty and Dollar combine in a deal worth $3 billion, the New York Times reported Wednesday.
Selling Chrysler “is not like selling a used car,” said Michael Robinet, Vice President at Global Vehicle Forecasts, to “Morning Call,” and you can see his point in more ways than one. Any automaker that can call itself no. 5 in America can hardly be ready for the scrap heap.
Like a third-grade boy forced to hand out Valentine's Day cards to the little girls in his class he would rather not acknowledge, Chrysler and Mercedes are going to see if they can finally get together. My opinion: It won't work unless both the Americans and Germans change their attitudes.
No, your eyes aren't deceiving you: General Motors is "exciting." The turnaround in the automaker's status comes courtesy of Merrill Lynch, which kicked GM's rating up two notches, from "sell" to "buy." Two industry-watchers joined "Closing Bell" to explain why.
As I woke in Detroit after flying in from New York this morning, I saw the story on "Squawk Box," - another Wall St. firm had raised GM to a buy rating. Why? Primarily on the idea that GM's 17 billion surplus on It's pension wil give it the leverage needed to strike a better deal with the uaw regarding retiree healthcare costs.
A senior adviser to the European Union's highest court said Tuesday the German government is excessively protecting automaker Volkswagen AG, preventing any takeover of the business.
Honda Motor said on Tuesday it would recall 45,335 Civic hybrid cars globally to fix a faulty voltage converter that could cause a short circuit and stop the engine.
Stylish, smokin', sensational sales. Pardon the alliteration, but it seemed the best way to characterize Mercedes "S" class. This luxury car is red hot. According to the Power Information Network, the "S" was one of the most popular leased vehicles in January. And on the sale side, the average "S" stays on dealer lots just 18 days. Making it one of the 10 fastest selling cars of the month.
Auto parts maker Lear said it had accepted a $2.31 billion buyout offer from billionaire investor Carl Icahn, but also said it could solicit alternate proposals for 45 days.
DaimlerChrysler unveils its latest restructuring plan for ailing U.S. arm Chrysler on Wednesday, almost six years to the day after its first try at shoring up profits from across the Atlantic.
U.S. auto parts maker Lear, which has received a $2.31 billion buyout offer from activist investor Carl Icahn, remained mum on the reasons behind a long trading halt in its shares Thursday.
Today at the Chicago Economic Club, Jim Press, the highest ranking American member of Toyota's executive corps caused a bit of stir, when he said the Japanese automaker would like to cut labor costs without cutting wages. Though vague, the comment has investors wondering if Toyota is talking tough on labor -- and if this is a sign of problems for the folks that make the Camry.
If you woke up early this morning and saw the wire reports out of France, you would have seen the latest earnings and comments from the man who many consider to be the best CEO in the auto industry - Carlos Ghosn. The CEO's two company's just posted awful quarterly earnings. Renault down 15% and Nissan down 23% ... Is it gut-check time for Ghosn? You bet.
Renault SA said Thursday its net profit fell 14.8% in 2006, weighed down by falling sales in Europe, but predicted an upturn in profitability when it launches new models in the second half of this year.
The Tundra truck -- Toyota Motor’s postmodern combo of blue-collar ruggedness and advanced electronics -- goes on sale this week. How will top automakers confront the competition? That’s one question that drew CNBC’s Phil LeBeau to the Chicago Auto Show.
Cult cars emerge regardless of marketing efforts and BMW's MINI is on the verge of joining the Ford Mustang and a select group of other autos that captured the imagination of car lovers.
Well at last, the battle for America's heartland has begun. Armed with bigger quad cabs, more torque, and plenty of bravado ... Detroit's 3, Toyota, and Nissan are working harder than ever to win over truck buyers. This week, Toyota's long anticipated, and much hyped Tundra full size pick-up goes on sale.
Luxury automaker Audi AG said Wednesday that sales of its cars worldwide rose 8% last month compared with the same period a year ago.
French automaker PSA Peugeot-Citroen said Wednesday net profit tumbled in 2006 on weaker worldwide sales, a poor product lineup, the cost of complying with new European pollution standards and higher raw material prices.