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Ford said on Thursday it is closing its two Australian auto plants and will cease production in the country in 2016.
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It's the grand daddy of American auto shows, so it's about time the Detroit Auto Show goes "Prime Time." It finally happens next week and we couldn't be happier that CNBC is the network raising the profile of the auto show.
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The poor jobs report is causing a rethinking of stock models, which are weighted toward certain sectors based on earnings expectations. Up until recently, many large traders were overweight tech, industrials and materials stocks on two assumptions.
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Toyota Motor overtook Ford Motor to become the No. 2 automaker by U.S. sales in 2007, using new products and relentless strategy to break Ford's 75-year lock on the position.
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As I was digesting the latest auto sales numbers, I saw one bullet point cross the newswires that I keep thinking about. For the first time since 1931 Ford is not #2 in U.S. Auto Sales behind General Motors. The second place slot is now controlled by Toyota.
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Stocks closed little-changed ahead of Friday's jobs report after ringing in the new year with a record decline.
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It was nowhere as close as the presidential races taking place in Iowa. Nor does it have the level of importance that goes with a presidential caucus. But when we asked you to let us know which automaker has the most to prove in 2007, you made it clear, by a long shot, that Ford is the automaker on the hot seat.
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Futures up on several economic reports that are better than expected: 1) ADP report of gain of 65,000 jobs for December ( 40,000 private sector jobs in December + 25,000 government jobs = 65,000 total).
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Toyota Motor will charge further into emerging car markets to achieve another year of record sales in 2008, likely cementing its title as the world's biggest automaker ahead of General Motors.
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Toyota Motor will charge further into emerging car markets to achieve another year of record sales in 2008, likely cementing its title as the world's biggest automaker ahead of General Motors.
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With Detroit and much of the auto industry shut down this week and gearing up for the Detroit Auto Show next month, I thought it would be a good time to take a few minutes and share my Christmas wishes for the auto world. I hope Santa brings you everything you want.
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As we close out this year, I know some of you are asking, "Hey Toyota Phil (a nickname a friend gave me after accusing me of giving the Japanese automaker too much praise) what do you think will happen in the auto industry next year?" Well, since you asked, and I know some of you haven't asked, here are my prognostications for 2008.
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Want further proof we're in a global auto market where the countries outside the U.S. are playing a bigger role? Consider this: there are reports that Europe is on the cusp of passing up the U.S. as #1 in the world for sales. Think about that for a second.
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The big three automakers plan to curtail production of full-size pickups for several weeks as economic worries hit sales of their most profitable products, the Wall Street Journal reported.
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Chrysler Chief Executive Robert Nardelli expects the automaker to lose $1.6 billion this year, the Wall Street Journal reported in its online edition, citing sources familiar with the matter.
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Who'd have thunk it. Russia has become one of the hottest and fastest growing auto markets in the world. Now Chrysler wants a piece of the action and it may wind teaming up with a Russian automaker GAZ. Today in Michigan Chrysler executives and Michigan's governor are reportedly set to meet the president of GAZ to discuss the Russian automaker investing in the U.S.
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I hear it everyday. "Why can't we get cars, trucks and SUVs that give us 30 miles per gallon of gas?" My answer is usually along the lines of, "Yes, the automakers can do that, but there's a trade-off. You want a big SUV to haul people and stuff, then you have to accept lower fuel economy."
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The question now is whether GM's new red tag sale is the prudent use of incentives to clear some inventory, or if it's a sign of things to come for the automakers struggling with flat sales? I think it's a one-time thing.
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Here's a tough one: you've been put in charge of marketing a struggling automaker that has many positives, but just as many, maybe even more, negatives. How would you change that automakers image?
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Forget about L.A. being tinsel town, and style capital. At this year's Los Angeles Auto Show the automakers are trying to wrap themselves in the "Green Leaf" of fuel efficiency. Ford announced a new sustainability plan that will include developing direct injection gas engines, lighter cars, and more hybrids.
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As I'm getting my first peak at the Los Angeles Auto Show, there's some good news for a couple of struggling automakers. Ford CEO Alan Mulally had dinner with a handful of reporters Tuesday and shot down the suggestion Ford will need to partner up with another automaker or private equity firm. In fact, he says Ford is in "terrific" shape for growing the business globally.