DETROIT, April 24- Ford Motor Co said on Friday it is recalling about 390,000 Ford Fiesta and Fusion and Lincoln MKZ models in North America because of a potential door latch malfunction. Affected vehicles were produced at Ford plants in Mexico, including the 2012-2014 Fiesta, the 2013-2014 Fusion and the 2013-2014 Lincoln MKZ. About 86 percent of the recalled...» Read More
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.
The meeting was also attended by Ford Executive Vice President Mark Fields, who is in charge of restructuring the automaker's loss-making North American operations, a newspaper said.
OK, I know you’ve probably heard that corny old line before, but for the breaking news desk, it certainly works today. Trust me when I tell you that the week between Christmas and New Year’s is slow. Painfully slow. Oh sure, there might be breaking news, but here in the business world, with many on vacation, we’re essentially waiting for January.
As soon as I started reporting on Thursday that Toyota is likely to replace General Motors in 2007 as the world's #1 automaker, the question came up: What's next for the Japanese automaker? Yes, in general terms the company is likely to continue gaining market share in the U.S. It's currently #3 with 15.3% market share behind ford 17.6% and GM 24.7%. And next year as Ford pulls back fleet sales to rental companies, Toyota is likely to become #2 in the U.S.
As reported Thursday by CNBC's Phil LeBeau, Toyota Motor expects to produce a record 9.42 million vehicles in 2007 -- a 4% rise that should see it overtake General Motors as the world's biggest automaker.
Today will be remembered as a landmark day in the automotive world. As CNBC first told you yesterday, Toyota will be taking the top spot in world wide sales next year, ahead of General Motors. CNBC’s Phil LeBeau has been following developments.
Ford Motor expects Toyota Motor to unseat it next year as the second biggest company behind General Motors in the American car market, a position Ford has held since the 1920s, the New York Times said on its Web site on Thursday.