Some of Friday's midday movers:» Read More
Tuesday in Japan the company reported it's quarterly profits and posted a 7.3% increase. Impressive given the company's home market of Japan is going through a slowdown. But Europe and North America more than made up for the sluggish market in Japan. Toyota's surge in Europe has long been one of the most under appreciated aspects of the automakers recent run. ... Automotive News is reporting Ford plans to re-name it's 500 sedan as the Taurus. An announcement could come as soon as tomorrow at the Chicago auto show. This change doesn't surprise me given the comments new CEO Alan Mulally has made about the demise of the old Taurus.
It's a statistic that will have Detroit buzzing. In January, the Detroit 3-formerly known as the big 3- sold 50.6% of the cars and trucks in the U.S. A record low. Think about that stat for a minute. We are on the verge of seeing Americans buy more foreign brand cars and trucks than domestic nameplates. Don't be surprised if that happens in February or March. The biggest reason for the fall-off in domestic sales is ...
Nissan Motor reported a bigger-than-expected 23% fall in quarterly net profit on Friday, hurt by a sluggish recovery in U.S. sales, and lowered its full-year forecasts despite a weaker yen.
Stocks staged a late-afternoon rally after the Federal Reserve signaled that the outlook for inflation has improved while the economy continues to grow at a moderate pace.
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.
Analysts say Ford's recently raised $23.5 billion gives it two years to turn itself around, barring a steep decline in the U.S. economy.
Stocks suffered their biggest pullback in two months as a disappointing bond auction and a lackluster report on sales of existing homes halted the market's two-day rally.
Ford capped the worst year in its 103-year history with a wider-than-expected fourth-quarter loss and said it would cut production this quarter and lose market share through September.
Ford shares ended up little-changed after the auto maker reported a $5.8 billion loss in the fourth quarter amid slumping sales and huge restructuring costs.
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.
Toyota Motor is open to a broader partnership with Ford Motor if the struggling U.S. auto maker asks, the Nikkei business daily reported on Wednesday, citing an interview with its president.
Ford Motor is moving ahead of its own schedule for reducing costs, including plant closures and job cuts, the automaker's chief executive said.
Exxon Mobil – the most profitable company in U.S. history and also one of the most loathed among climate change activists. But going green isn't just good for the environment – it could also be good for the oil giant’s bottom line. Chris Fox of Ceres – an organization that pushes companies on climate issues on behalf of institutional investors – and Paul Sankey, an oil analyst at Deutsche Bank, debated the issue on “Street Signs.”
As Detroit's Big Three automakers face tough competition from an increasingly powerful Toyota, executives at the Detroit Auto Show expressed confidence that turnaround and restructuring plans could stem losses and new offerings would lure drivers back in their showrooms.
The Chery-DaimlerChrysler alliance and Changfeng's "Cheetah" brand are only two of the big China stories at the 2007 North American International Auto Show.
Cult cars emerge regardless of marketing efforts and BMW's MINI is on the verge of joining the Ford Mustang and a select group of other autos that captured the imagination of car lovers.
Shares of XM Satellite Radio and Sirius Satellite Radio are up today. The gains come on news that XM recorded positive cash flow from operations during the fourth quarter. Some traders are reacting to the news as if the worst of the companies’ struggle into the black are over. Maria Bartiromo had two analysts on “Closing Bell” who would beg to differ.
When I walked in to dinner with Ford CEO Alan Mulally on Wednesday night, I knew the menu would include a tasty entree, a sweet dessert, and a healthy dose of candor. All courtesy of the "outsider" trying to turnaround the struggling automaker. I expected the honesty since that's what I found while covering Mulally as he turned around Boeing Commercial Airplanes. And at this dinner, he was forthright in his praise of Toyota.
Ford CEO Alan Mulally says the struggling automaker is on target to return to profitability by 2009. Mulally also downplayed his meeting with Toyota's Chairman Fujio Cho saying he's talking with leaders from many automakers to better understand the industry and see if there are opportunities for mutual cooperation.