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"The last time they sold so few autos, there weren't highways across America," says Jeff Macke. In this Web Extra find out if that could signal a bottom.
On Friday, the US markets managed to close in positive territory for the day, however, they turned in their second-down-week in a row losing almost 3% or greater across the board, led by the S&P 500 Index.
If you thought the auto industry and economy might be close to bottoming out and getting some traction, think again. The world's two largest auto makers are sending fresh signs that things will remain as bad, if not worse in 2009.
If there was ever a time to take the plunge and by that new, or at least newer car, this could be it. Congress is considering a "Cash for Clunkers" bill and in my opinion this is the ultimate win/win for buyers, dealers, and the auto makers.
Yesterday's 250 point sell-off in the Dow was the sixth day in a row of losses, the longest losing streak since October 10, 2008 when the Dow lost 22% over an eight day stretch. Since the start of the year, the Dow is down 6.6%, its worst Jan 1 - Jan 14 stretch ever.
What do you think will happen to Chrysler? That question was flying around the Detroit Auto Show this weekend, and trust me, some of the predictions I heard in Detroit were doozies.
I get the same question every year at the Detroit Auto Show: What was your favorite new car? My answer is almost always a model with an aggressive design and often it's a concept. This year, the Cadillac Converj stole my heart.
The auto show is under way in Detroit. But this year it's about far more than just having good-looking models and high mileage. The auto industry faces an even bigger battle with perception.
The automobile industry may be rolling out electric cars in attempt to save their companies, but consumers have no incentive to buy the cars if an energy policy and a gas tax are not implemented soon, said Mike Jackson, CEO of AutoNation.
The Treasury Department is developing tools to measure whether banks that receive funds from the $700 billion financial industry rescue program are increasing lending.
New cars are front and center at this year’s Detroit Auto Show. But one car in particular is generating some real buzz.
Stocks continued their slide Monday as the economy and what is expected to be a horrendous earnings season formed a one-two punch to knock out hopes for a January rally.
Stocks were stuck in negative territory Monday, with pervading worries about the recession and the ways in which quarterly earnings reports would reflect economic difficulties dominating investor concerns.
At an auto show that lacks "buzz", there are a couple of battles taking shape. Both of them could have major implications as to what we will be driving for years to come.
Tanking sales and gloom hang over Detroit as its annual auto show begins this week. Maybe the worst is behind it, as GM and Ford are up 26% and 15% YTD respectively.
Wall Street was looking at a slightly lower open Monday as traders took a leery view of the kickoff to earnings season.
Top executives at Ford Motor and General Motors stressed that the fortunes of automakers will depend on a turnaround in the economy and consumer confidence in particular.
Just weeks after ending a year marked by dismal sales and a federal bailout of General Motors and Chrysler, U.S. automakers Sunday touted new products with a focus on fuel efficiency that they say will help ensure that their cars and trucks will roll off assembly lines for years to come.
The Dow logged its worst week since late November, erasing all of last week's gains in a brutal week littered with layoffs and profit warnings, and capped with a surge in unemployment.
Ezra Merkin, the manager of a major Bernard Madoff "feeder fund," resigned effective Friday from his post as chairman of GMAC Financial Services.