GENEVA, March 1- The main talking point at this week's Geneva car show is likely to be a vehicle that may never be built: the Apple car. Thilo Koslowski, vice president automotive at technology market research firm Gartner, believes there is now a race between carmakers and tech companies to control the "brain" of next generation vehicles. The ability of software...» Read More
DaimlerChrysler's December U.S. auto sales rose 2.9%, while General Motors' sales fell 9.6% and Ford Motor's sales declined 9.4% for the same period, CNBC's Phil LeBeau reported. Toyota garnered a 16.6% sales increase.
December is proving to be another disappointing month for the big three U.S. automakers. Today's sales report for last month showed a double-digit decline in trucks sold by General Motors, and Ford dropped almost 13% on the whole. Chrysler eked out half a percent gain. On today's "Closing Bell," CNBC’s Dylan Ratigan sifted through the data to find out what it all means going forward.
As I'm reading the December auto sales numbers, it's clear 2006 will be remembered as a bleak one for the big 3. The healthiest of the trio, GM, is still not cash flow positive. And even though the company is in better shape today than a year ago, the fact remains, it's still in a turnaround. Look at their numbers for the final month of the year.
You may recall a previous entry in which I stated my completely non-political dislike of presidential news conferences - strictly from a breaking news desk point of view, of course. Well, that pales in comparison with my loathing of auto sales numbers, easily the most stress-inducing, messy, difficult set of statistics of all the numbers we try to get on the air in a hurry. Of course, it could be worse.
Swedish truck and bus maker Volvo AB said Wednesday it had finalized an order for 700 city buses from Shanghai, China. The value of the deal was not disclosed.
After years of ceding much of the car market to Asian competitors, Detroit's Big Three are preparing to roll out an array of new autos that they hope will bring buyers back to their showrooms to look for something besides trucks.
While most of us wrapped 2006 with holiday parties and hopefully a few days off - hey, at least that's what I did last week - Chevy and Ford dealers finished a pitched battle to see which brand would wrap up the year as number one in total sales. The winner gets bragging rights as being America's favorite nameplate for cars and trucks. The loser will claim it doesn't matter. The truth is...
CNBC’s auto-market blogger Phil LeBeau told “Squawk Box” that the hottest development may come from Shanghai; and GM and Nissan alliance talks stoked merger mania.
FRANKFURT (Reuters) - DaimlerChrysler will recover about 168 million euros ($221.5 million) from insurers in settling a dispute over the costs of a U.S. class-action lawsuit in 2003, a German newspaper reported on Tuesday.
Chrysler and Chery Automobile have agreed on a plan for the Chinese manufacturer to build small cars to be sold worldwide.
From energy to gold, airlines to the Internet, specialists and analysts offer predictions for the new year, as our "7 For '07" special coverage continues. And don't miss our 2007 Money Manager Survey.
As we end for today, we can safely report it's been a banner year for stocks--by just about everyone's measuring stick. Bonds didn't so bad either. Blue chips were certainly the big standouts of 2006. The Dow Jones industrial average--the index of 30 of the nation’s biggest companies, hit record levels dozens of times since closing at 12,011.73 on Oct. 19. It's since surged to an intra-day high of 12,529.87. All this despite....
Almost every analyst has an angle on how to beat the market, and investors pay big money for trading tips that promise guaranteed profits. But here on CNBC we give that advice away for free. John Prestbo, editor of Dow Jones Indexes, shared his “Dogs of the Dow” strategy on “Morning Call” today. It returned 32% in 2006.
The union representing about 14,000 striking Goodyear Tire & Rubber workers approved a new contract that includes plans to close a Texas tire factory and creates a $1 billion health care fund for retirees, the United Steelworkers said Friday.
While the big 3 continue to struggle with costly (both in dollars and human terms) plant closings, the Japanese auto plants are surging. And the reason for this is America's growing appetite for fuel efficient vehicles. Which reinforces the hangover GM, Ford and Chrysler are feeling from years of focusing on SUV's and pick-up trucks. The latest number from the Japanese Automobile Manufacturers Association shows...
The chairman of Toyota Motor met with the chief executive of Ford Motor but they did not discuss the possibility of forming any alliance, Japan's top auto maker said.
Automobile Magazine will announce its “Car of the Year” for 2007 in the upcoming issue--released on January 9th. But “Power Lunch” had an exclusive interview with magazine president, Jean Jennings today. Not only did she did she give up the car of the year secret to Bill Griffeth,--she also told us what Automobile’s says is the best-designed car of the year.
When I heard that Ford CEO Alan Mulally met earlier this month in Tokyo with Toyota CEO Fujio Cho, I wasn't surprised. Nor should Ford investors and fans of the #2 American automaker. This is yet another sign, Mulally is bound and determined to move his company into a more competitive position - even if that means learning from a fierce competitor that is about to pass Ford.
This morning the market is buzzing about a meeting in Japan between Ford's CEO and Toyota's Chairman. They said they did not discuss forming an alliance, but that didn't stop speculation in this morning's Japanese newspapers which are ablaze with rumors that it’s the first step of a partnership. CNBC’s Bob Pisani reveals how this news (and other events) are moving markets.
Good morning. Our quote of the day comes from Gerald Ford: "Our long national nightmare is over." That of course was the former president referring to the end of Watergate. As you probably know-- Ford died last night in California. He was 93. Ford was the only U.S. president to serve--without having been elected to the office.