CNBC's Robert Frank heads to the New York Auto Show to get a look at McLaren's new Sports Series model. It's priced at $185,000 and will complete against Porsche, Lamborghini and Ferrari.» Read More
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.
General Motors said it would delay its fourth-quarter statement and restate four years of past results because of an accounting error dating back to the end of 2001, but it expected to be profitable in the fourth quarter.
Ford Motor Co. had the worst year in its 103-year history in 2006. The automaker lost $5.8 billion in the fourth quarter alone – and lost $12.7 billion on the year. Yet CEO Alan Mulally - who came to Ford after overhauling aerospace giant Boeing - is reportedly considering paying bonuses to some of Ford’s managers, even as the company seeks concessions from its unions and predicts more losses this year.
Fiat reported Thursday that its net profit soared in the fourth quarter as the core auto division posted a nearly five-fold earnings gain, allowing it to pay a dividend for the first time since 2002 to cap its turnaround.
President Bush wants us to kick the gas habit and cut our use of gasoline by 20% in 10 years. Detroit's automakers have been clamoring for this by pledging to build even more E-85 ethanol cars and trucks. Still, I wonder if this will really happen.
Swedish truckmaker Scania said Wednesday it won an order for 500 trucks from British trucking company Eddie Stobart.
We all remember the headlines that came out of last year’s State of the Union address: America is addicted to oil. It’s been a year and the federal government has made little progress in ending our “oil addiction.” But is there even anything the government or the President can do about it? Karen Wayland of the Natural Resources Defense Council..
German truckmaker MAN AG said Tuesday it was withdrawing its hostile takeover bid for Swedish rival Scania AB and would instead seek a friendly linkup.
The news from Renault Nissan CEO Carlos Ghosn out of eastern Europe today -- that his company is no longer seeking a third auto company for an alliance -- should send a clear message: automakers are not yet ready to consolidate.
It's strange to think an entry level car is an important model for a luxury car company, but the new C-class is just that for Mercedes Benz. When Mercedes unveiled the C-Class Thursday afternoon, the company touted better performance, more refinement, and a more aggressive look ... In other big automotive news Toyota is recalling more than 500,000 Tundra pick-ups and Sequoia SUV's due to steering problems that cause the vehicles to not stay in their lane.
German industrial conglomerate ThyssenKrupp said Friday that sales and orders in its fiscal first quarter rose 12% each and pretax profit more than doubled.
Toyota is recalling 533,000 Tundra pickup trucks and Sequoia sport utility vehicles in the U.S. because of potential steering problems.