MEXICO CITY, July 22- South Korean automaker Kia Motors Corp is in talks with Mexico to open a new auto plant worth at least $1.5 billion, officials from Nuevo Leon's state government said on Tuesday.» Read More
AutoZone, the largest U.S. auto parts retail chain, said its board elected William Rhodes as its new chairman and authorized the repurchase of an additional $500 million of the company's shares.
It's the kind of news the folks in Dearborn, Michigan have been aching to receive. The latest survey on quality from J.D. Power and Associates showed a huge jump in quality for American automaker--Ford. In overall standings, Lincoln cracked the top 3, coming in third, while Mercury jumped to #8 and Ford surged to #10. Not only that, Ford Motor had 5 models that were rated as best in their class of vehicles- more than any other automaker. Can't you hear the hallelujah's in Detroit??
Toyota Motor said sales in China jumped 87% in May, driven by the popular Camry sedan, and it was discussing a second car factory with Guangzhou Automobile in anticipation of continued strong growth in demand.
On Wednesday night's Business Nation we aired an in-depth report looking at Toyota's efforts to push its redesigned full size Tundra pick-up in Middle America. As I put this report together over the last month with producer Diane Simon, a few things jumped out at me. How successful will the Tundra be in middle America? Relative to how Toyota has done in the past, I believe the Tundra will improve sales in the heartland. The combination of the grass roots marketing campaign and spending more ad dollars will help the Tundra...
Ford supplanted Toyota as the leader of the pack in initial quality rankings, taking the top spot in five of 19 segments in the 2007 survey by J.D. Power and Associates, released Wednesday.
As long as I've been writing this blog I have received my fair share of insults ("Moron" is, by far, still my favorite) and complaints ("Phil, you just hate the big 3"). But more than anything else, the number one comment I hear from people is that Toyota has duped me and America into believing it's cars and trucks are better than others. These comments typically end with a variation of the line, "I hope you are happy driving your Lexus."
General Motors is making progress in its turnaround effort, the automaker's chief executive said at its annual meeting, where all 10 shareholder proposals were rejected.
Honda will discontinue the hybrid version of its Accord sedans, the company said Tuesday, conceding Toyota's dominance with the hit Prius hybrid.
It's hard to say any one month is a "coming of age" for a new or redesigned vehicle, but May could be the watershed month Toyota has been waiting for in it's push to grab more market share in pick-up trucks. Last month, Tundra sales increased 112%. You read that right, 112%. Which means Toyota more than doubled sales of it's star truck year over year. More importantly, Tundra sales eclipsed the pace the company needs to hit if it will be successful..
If I were to write a job description for the Breaking News desk producer, it would have to include this phrase: “Must love numbers.” ... One number had immediate impact: Toyota’s total U.S. sales number for May. Toyota sold 269,023 cars and trucks during the month, a 9.7% increase. But there was a story beyond that...
Toyota Motor said U.S. auto sales rose 9.7% last month, pushing its sales above both Ford Motor and Chrysler. Ford sales fell in May, while GM and Chrysler sales rose.
Malaysia will decide on a partner for its loss-making national carmaker Proton Holdings within the next three months after talks with Germany's Volkswagen fell through, a government minister said on Friday.
If you're among those who think the Detroit "Big Three" are a lost cause that, despite improving quality and efficiency, are simply in a long, slow slide that shows no sign of ending, listen up. The latest study on the efficiency from Harbour Consulting shows the Big Three are closing the gap with Asian competitors. Want more?
World number two truck maker Volvo is selling its 28.7% stake in U.S. truck stop chain Petro Stopping Centers, yielding a capital gain of $46.3 million.
A Ford Motor official predicts that his company's overall U.S. sales will drop in May, but its retail sales to individual buyers will show a year-over-year monthly increase for the first time since October of 2006.
Ford Motor said it has not entered talks with anyone to sell Volvo, despite reports that BMW was interested in a possible purchase of the Swedish automaker.
U.S. crude oil prices slid as much as 4% Tuesday; and gasoline followed suit. Is the bull market winding down? Stephen Schork, editor of The Schork Report, and Eric Bolling, independent oil trader and CNBC contributor, told "Street Signs" viewers that it "could be the beginning of the end" -- but they don't recommend getting out of the market just yet.
Shares in BMW rose 1.7% on speculation it could buy Swedish automaker Volvo from Ford Motor, according to reports on Swedish magazine Gotenborgs Posten’s Web site citing undisclosed sources.
Here's one to get the auto world buzzing. There are reports out of Europe that Ford is considering selling its Volvo brand to BMW. This could be an intriguing deal for both companies. But would it make sense? I'm not so sure.From Ford's perspective, Volvo is the best selling and most valuable brand in Ford's Premier Auto Group (Jaguar and Land Rover are the other brands) and has long been considered the asset "most likely to be sold." In fact, the Ford board has reportedly kicked around the idea of selling Volvo for some time.
Loss-making Ford is planning to sell Swedish car maker Volvo and German carmaker BMW could be a possible buyer, a Swedish newspaper said on Monday.