CNBC's Phil LeBeau and Carlos Ghosen, Renault Nissan CEO, provide a look at Nissan's new pickup truck. Also Ghosen says the forces are working towards more consolidation in the industry, and weighs in on increasing global capacity.» Read More
If you've been reading the headlines this week, you've probably seen stories about the Big 3 planning to push for pay and benefit cuts totaling 30%. Often the headline is accompanied by a sub-headline saying the United Auto Workers and the Big 3 are headed for a collision course. Folks, get ready for a long hot summer of posturing, trial contract offers being floated, and the yes, the very real possibility that we could see a work stoppage.
The increased demand for "green" vehicles is spilling over to the rental car counter, where many more drivers will soon be able to choose a hybrid vehicle. Hertz Global Holdings said Thursday it will spend $68 million to add 3,400 Toyota Prius hybrids to its fleets by 2008. And Avis Budget Group said this week it plans to make 1,000 hybrid Prius vehicles available for rent as early as next week.
Volatility in the auto parts and services sector is likely to persist with the Detroit labor negotiations between GM, Ford, and Chrysler months away, one analyst said."I think there's really disproportionate risks that the stocks could see some softness in the next few months rather than go higher," Richard Kwas, Wachovia Securities Senior Auto Analyst, said on "Power Lunch."
General Motors Corp. and bankrupt auto parts maker Delphi Corp. are near a deal with the United Auto Workers union that would provide a cash payout to Delphi workers in exchange for lower hourly wages, the Detroit News reported.
Ford Motor said Thursday about 27,000 union workers who accepted buyouts from the automaker have left the company so far.
Shares in Renault outperformed the CAC-40 with a 4.2%, rise as the French automaker said it was considering adding a low-cost car to its fleet to target emerging market consumers, Reuters reported.
Europe's new car registrations fell for the fourth month in a row in May, but Fiat beat the market and its rivals with a 5.7% rise in sales thanks to tax breaks in Italy, industry data showed.
The latest list of hottest selling vehicles (those that spent the fewest number of days in showrooms), which is compiled by J.D. Power's Power Information Network every month includes three vehicles that were red hot in May--for three completely different reasons. And each one is an important model for their company. So let me run down the list and touch on the three models I believe are most important on this list.
Shares of France's Atos Origin recovered from an early decline of 1.1% Wednesday, as the company named executive board member Philippe Germond to succeed Bernard Bourigeaud as the new chief executive officer.
If you walk in to a Saturn showroom this week, you'll find the Aura, Outlook, a Honda Accord and Toyota Camry. That's right, Saturn dealers are putting the Accord and Camry in their showrooms and challenging prospective buyers to test drive the foreign models, then test drive the Aura. You might think it's a gutsy move by a brand that, until the last year, has been a weak competitor. But Saturn, like Ford, is feeling that it has the wheels to not only stand up to Toyota and Honda, but also win over foreign car owners.
Ford Motor said on Tuesday it was working with financial advisers on the best options for its European luxury brands Jaguar and Land Rover.
One of my favorite aspects of covering the auto industry is hearing from viewers/readers about stories I've done, models they have driven or general impressions of the industry. Often, they are well thought out. Sometimes they are so off the wall I chuckle to myself. So I'm asking you for your opinion of a very specific question: What do you think is the most misunderstood story in the auto industry?
The British government is in contact with Ford Motor over the possible sale of the U.S. carmaker's Jaguar and Land Rover brands.
Toyota Motor edged past General Motors Corp. to become the world's biggest automaker by sales volume in 2006, leading industry paper Automotive News said.
Ford Motor has hired investment banks to help it explore options including a sale of its Jaguar and Land Rover European luxury brands, sources familiar with the matter said, as several companies ruled themselves out from bidding.
Car hire firm Avis Europe said it was investigating possible financial irregularities at its Portuguese subsidiary, which could knock around 8% off of group annual profits.
A decade after the first Prius went on sale, Toyota's global sales of hybrid vehicles have hit a landmark 1 million, underlining the Japanese automaker's lead in "green" technology that has changed the face of the auto industry.
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.