A federal judge said General Motors does not need to pay $450 million to cover medical benefits for retirees.» Read More
Chrysler Group and the United Auto Workers union on Friday mark the formal start of a summer of crucial contract negotiations under intense pressure to break the model of business as usual for Detroit.
Earnings remain the focus of traders going into the weekend, but analysts say the potential impact of rising crude oil and subprime troubles will also be on the minds of traders. Today is also an options expiration Friday.
General Motors narrowed the gap with top seller Toyota Motor in the first half of 2007 thanks to a solid second quarter, although demand continued to fall in its home North American market.
General Motors said strong growth in Latin America, Asia and other emerging markets lifted global sales by 0.4 percent in the second quarter, according to preliminary sales figures released Thursday.
As a man who spent his teenage years tooling around in my parent's big Buick, I have to admit I have a soft spot in my heart for big sedans. Doesn't mean I want one now, but I do like the romantic appeal of a big ol' car. So when I heard Chrysler is scrapping plans to further develop its Imperial large sedan, it made me wonder: is the big car dead?
"We will improve results in the United States faster than people think," Rick Wagoner said after announcing investment plans in Brazil and Argentina.
Swedish aerospace and defense company Saab's net profit rose 48% in the second quarter, driven by solid results from its defense and security solutions, and systems and product divisions, the company said Friday.
General Motors plans to offer diesel-engine cars under the Cadillac and Saturn brands in the United States by 2010, industry journal Automotive News reported, citing a source familiar with the plan.
Even as the Fourth of July has come and gone, Jeep's Patriot is as hot as a firecracker. How hot? In the latest survey of the hottest selling vehicles by J.D. Power's Power Information Network, the Patriot SUV was the seventh fastest-selling vehicle in the U.S. last month. On average, Jeep dealers kept the Patriot on lots fewer then 20 days, while the industry average is roughly 60.
Forget the ads touting which full size pick-up has more hauling capacity, or which one can stop just before going over the edge of a cliff, or even which truck makes you feel more American, rural, or cowboy. None of that matters. Here's what talks with truck buyers: cash. The more the better. And right now, pick-up buyers are picking up deals that have them sitting in the catbird seat. In fact, GM is doubling the cash back it's offering people who buy a new Chevy Silverado or GMC Sierra. That's an extra $1,000 on top of 0% financing.
Billionaire investor Carl Icahn's American Real Estate Partners raised its takeover offer for Lear to about $3 billion after shareholders balked at a previous buyout proposal, but the auto parts maker's second biggest shareholder remained unconvinced.
General Motors sales outgrew the broader European car market in the first half as a surge in demand for its Korean-built Chevrolet brand cars offset a hefty decline in Saab sales, the automaker said on Monday.
Workers at struggling auto parts giant Delphi's largest union have approved a historic contract agreement that cuts wages for many longtime workers but secures thousands of jobs at plants that once were in jeopardy.
Tomorrow, the NBC Universal Family brings us Live Earth--with a three hour primetime special on NBC, plus 18 hours of coverage of Bravo and seven hours on our very own CNBC. Plus coverage on all sorts of other channels in the family--including Telemundo, Mun2, Universal HD, and the Sundance Channel. A sign of the power of the Live Earth message, NBC has attracted some top-notch (huge and influential) advertisers--General Motors, Apple, and American Express.
Stocks closed mixed as investors were encouraged by a strong batch of merger news but gains were held in check by rising interest rates. "The key for the market right now is the ability to digest the fact that the 10-year has moved out of that range that we've enjoyed between 4.5% and 5%," said Russ Koesterich, head of investment strategy at Barclays Global Investors.
GM, Ford and DaimlerChrysler said Tuesday their U.S. sales fell in June, while Toyota sold more cars during the month. The news came as an industry group reported that automakers are deepening discounts to entice consumers to buy cars.
DaimlerChrysler said Tuesday its U.S. sales fell 2 percent in June. The news came even as an industry group reported that automakers are deepening discounts to entice consumers to buy cars.
On the eve of our country's birthday, it seems like a perfect time to celebrate the good things happening for American automakers (and yes, there are good things happening). So with that said, this 4th of July Behind the Wheel blog will include no mention of high labor and healthcare costs, dwindling market share, or the struggle to break even. After all this is the holiday to sing out, "Baseball, hot dogs, apple pie, and Chevrolet."
Bankrupt U.S. auto parts maker Delphi, which reached a cost-cutting deal with the United Auto Workers, hopes to complete agreements with its remaining unions by mid-August, it said in court papers.
The headline this morning from Automotive News is hardly surprising, but it is another reminder of how the U.S. auto industry has changed dramatically in recent years. The latest data shows Japan surpassed the U.S. last year to become the world's #1 vehicle producer. It's the first time in 12 years Japan has outpaced the U.S. Not only that, but the Asian country is on track this year to expand its lead.