Automotive Retail
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DETROIT, May 23- U.S. auto sales in May are expected to rise 6 percent to 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday.
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*Toyota sells record 9.75 million vehicles group-wide. TOKYO, Jan 28- Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.
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The industry is expected to report on Feb. 1 an annual sales rate in January of 15.3 million vehicles, according to analysts polled by Thomson Reuters. J.D. Power and LMC Automotive, in a joint press release, said they expect U.S. retail sales in January to reach the highest rate in five years.
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Mitsubishi Motors said it is recalling about 14,700 electric vehicles globally due to a brake problem unique to the electric-powered cars in one of the biggest callbacks involving the new generation of eco-friendly cars.
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*Hyundai gains in China as Japanese rivals struggle. Hyundai will likely say later on Thursday that October-December net profit rose 7.5 percent to 2.15 trillion won, according to a Reuters poll of 15 analysts.
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Upscale leather-goods maker and retailer Coach reported holiday quarter revenue below Wall Street forecasts amid a tough economy and stiff competition.
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Dish Network Corp. says it plans to close about 300 Blockbuster stores across the country, affecting about 3,000 employees.
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The latest earnings from luxury goods group Richemont could signal a wider trend of changing consumer trends in Asia, though economic growth should help buoy the luxury goods market, experts told CNBC.
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It's a bad week for Boeing, but Barry James, James Advantage Funds, says it's not time to count out jumbo jets just yet.
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DETROIT, Jan 15- Zhongsheng Group Holdings Ltd, a large Chinese auto dealership group, said consumer financing is fast gaining acceptance in China, which will help boost the market as well as encourage younger buyers to buy more expensive cars. Currently only one fifth of car buyers use financing at Zhongsheng's 160 dealerships, with the rest paying cash.
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U.S. shoppers spent only 3 percent more during the 2012 holiday season than they did a year earlier, the National Retail Federation said, citing economic uncertainty for tempering consumers' enthusiasm.
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Ford's turnaround plan is "clearly working," Ford CEO Alan Mulally said in a First on CNBC interview on Monday from the Detroit Auto Show.
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Tiffany posted holiday sales that showed its torrid growth of recent years was sputtering in the U.S., Japan and Europe, with China the only bright spot for the upscale jeweler during the crucial shopping season.
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Investing in new and updated cars and trucks will lead to a renaissance for General Motors, CEO Daniel Akerson told CNBC on Wednesday.
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Toyota's AASRV Lexus demonstrates a variety of vehicle safety technologies in development, from seeing a potential problem 500 feet away to knowing the difference between a red and green light.
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*Chrysler passes General Motors, moves into second place. Ford Motor Co of Canada was the top-selling automaker in Canada for the third year in a row while Chrysler, which was in third place in 2011, knocked General Motors from the No. 2 perch.
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*Toyota, Honda gained market share in 2012. General Motors Co posted December U.S. sales growth of 5 percent compared with the year-earlier month, Ford Motor Co increased sales 2 percent and Chrysler Group LLC's sales rose 10 percent.
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Jan 3- Ford Motor Co of Canada was the top-selling automaker in Canada for the third year in a row in 2012 but Chrysler, boosted by demand for its fuel-efficient passenger cars, knocked General Motors from the No. 2 perch.
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Major automakers reported U.S. auto sales in December that were broadly higher on Thursday. Although most topped estimates, Toyota's sales fell short of expectations.
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Chrysler Canada, wholly owned by Chrysler Group LLC, sold 14,756 vehicles last month. In 2011, Chrysler was No. 3, and General Motors Co was No. 2.. Chrysler Group is controlled by Italy's Fiat SpA.
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DETROIT, Dec 28- U.S. auto sales are expected to show a rise of 9 percent for December, capping off the best year for the industry since 2007, fueled by easier access to credit, rising home prices and pent-up demand.