DETROIT, Jan 30- The United Auto Workers union and Navistar International Corp have reached a tentative four-year contract agreement, the union said on Friday. Workers at Navistar, a vehicle and engine manufacturer, will now vote on whether to accept the terms of the contract, which were not released publicly. There are 1,800 UAW-represented Navistar workers in...» Read More
As U.S. automakers have struggled over the past years, they have always been able to hang on to one last profitable stronghold – the large pickup truck market. But that fortress is about to be stormed by Toyota as its redesigned Tundra pickup hits the showrooms this week.
The Taurus, considered by some the car that saved Ford, revolutionized the way autos look and feel when it was introduced in 1985.
Toyota Motor posted a near-20% rise in quarterly profit on Tuesday on brisk sales in North America and Europe, but kept its full-year forecasts unchanged -- though still on course for an eighth straight year of record earnings.
Tuesday in Japan the company reported it's quarterly profits and posted a 7.3% increase. Impressive given the company's home market of Japan is going through a slowdown. But Europe and North America more than made up for the sluggish market in Japan. Toyota's surge in Europe has long been one of the most under appreciated aspects of the automakers recent run. ... Automotive News is reporting Ford plans to re-name it's 500 sedan as the Taurus. An announcement could come as soon as tomorrow at the Chicago auto show. This change doesn't surprise me given the comments new CEO Alan Mulally has made about the demise of the old Taurus.
Auto parts supplier Lear said a company affiliated with activist investor Carl Icahn has offered to buy the company for $2.43 billion.
DaimlerChrysler Chrysler Group plans to cut more than 10,000 factory jobs and close at least two plants to return the U.S-based unit to profitability, the Detroit News reported on Monday.
It wasn't just Dolphins Stadium that left people feeling all wet Sunday: the auto ads were largely forgettable. From Ford's F-series Super Duty to Honda's fuel efficiency message, the auto ads were, in my opinion, largely forgettable.
The latest survey of new car buyers from CNW marketing research shows the perceived quality of European brands continues to slide. While Volvo, Audi, and Porsche have higher perceived quality compared to a similar survey in 1997, Mercedes, BMW, and VW are all lower. In fact, Mercedes has gone from #1 to #12 in CNW's quality perception survey. The only silver lining for the Euro brands is that they are still given high marks by car buyers.
Today, January auto sales will come in and they won't be pretty. In fact, for the big 3, they will be downright ugly. This is what happens when the auto companies kick the fleet sales habit. Wednesday Ford gave us a preview of what to expect saying january sales plunged 20%, with fleet sales crashing 40%, and daily rental sales falling 60% compared to January of last year. Don't cry for Ford. Getting off the Fleet fix is what the company wants, and frankly what it needs to do.
It's a statistic that will have Detroit buzzing. In January, the Detroit 3-formerly known as the big 3- sold 50.6% of the cars and trucks in the U.S. A record low. Think about that stat for a minute. We are on the verge of seeing Americans buy more foreign brand cars and trucks than domestic nameplates. Don't be surprised if that happens in February or March. The biggest reason for the fall-off in domestic sales is ...
Nissan Motor reported a bigger-than-expected 23% fall in quarterly net profit on Friday, hurt by a sluggish recovery in U.S. sales, and lowered its full-year forecasts despite a weaker yen.
Truck maker Volvo posted quarterly pretax earnings below consensus on Friday but raised its outlook for the European truck market and said it would make an extraordinary pay-out to shareholders.
German mass carmaker Volkswagen improved January VW brand sales in the United States by 2.3% to 16,610 vehicles thanks to rising demand for the Passat estate and the Golf GTI models, the company said late on Thursday.
Top carmaker General Motors, meanwhile, posted a sales decline at the low end of analysts' expectations and trimmed its first-quarter production plans in response.
I Got It Right!: I don’t often brag about getting something right, since that is, in fact, what I’m hired to do. (If the opposite happens too often, you’ll notice this space become suddenly and swiftly blank ..) Yet, in our breaking news world of swift interpretation, it’s reassuring to see some other trusted news source come to the same conclusion you did.
Explaining the reduction, the automaker says it expects fleet sales to be just more than 700,000 in 2007, down from 900,000 units a year earlier.
I come back from a week on the slopes of Colorado and find three tidbits about the automakers that show even in the bitter cold and dreary days of January (except in the Rockies) ... there are some interesting stories.
Fiat has poured 350 million euros ($454 million) into developing its new Bravo model, which marks the Italian automaker's return to the profitable mid-size market, the company's chief executive said Wednesday.
BMW's revenue rose by 5% to a record 49 billion euros ($63.6 billion) in 2006, it said on Friday, reaffirming that its 2006 pretax earnings would hit 4 billion euros.
Germany's Porsche forecast it would be able to maintain profits this fiscal year after first-half pretax profit easily beat analyst expectations on Friday.