Toyota remains No. 1 in global vehicles sales so far this year, followed by Volkswagen, which bumped General Motors out of second place.» Read More
President George W. Bush will meet next week with the chief executives from Detroit's largest automakers, the White House said on Wednesday.
President Bush will tour two factories today where GM and Ford make hybrid vehicles. His visit to the Kansas City auto plants is the first of his presidency to domestic auto factories and is also an effort to improve relationships with Detroit’s Big Three after a tumultuous year. Their troubles are having a significant economic ripple effect on the city the automakers call home. CNBC’s Mike Huckman went to Detroit to check on the struggling city.
Employee members of DaimlerChrysler's supervisory board plan to oppose a sale of Chrysler Group to a private equity firm that would lead to a breakup of the automaker, according to published reports.
There's a tough guy in town and he's lookin' to mix it up. We're talking about Herb Greenberg, and he's got a wrong to right with each of our guys. Forget Ali vs. Frasier or even Rosie vs. The Donald - those were just skirmishes. What follows is a true “Street Fight.”
Give General Motors credit. It's trying, it really is. But with mediocre auto sales, the company is bringing back zero percent financing in order to goose springtime sales.
The world's largest automaker said its obligation for post-retirement health care and other benefits was $68 billion at the end of last year and could grow on a global basis.
General Motors' internal controls on financial reporting are "currently ineffective," the automaker said in a regulatory filing on Thursday.
Stocks finished higher after a wild trading session that took the Dow briefly below 12,000 and saw major indices reverse deep losses. "The markets have been wanting to go to certain levels and they took it down there and then boom, everyone came in and bought the market and we were off to the races," said Todd Leone, head of listed trading at Cowen.
It's been a long time coming, but it looks like General Motors is finally on the verge of turning the corner with it's North American auto business. But before you get excited, keep in mind some of the speed bumps that could slow down GM's recovery.
With General Motors posting its first quarterly profit in more than two years, Chief Executive Rick Wagoner said things could improve further later this year. "I think this is another quarter where we see the momentum moving in the right direction," Wagoner said, in an interview on CNBC.
Confronted with congressional concerns about global warming, the leaders of the U.S. auto industry are highlighting their work to develop alternative vehicles and asserting that the burdens of climate change cannot fall to one industry alone.
Wall Street's anxiety about the subprime mortgage business spread around the world overnight, ripping into stock prices globally. U.S. stocks are heading lower this morning, but so far lack signs of the wild selling of yesterday afternoon.
GMAC said GM would transfer about $1 billion to the finance company in the form of common equity by the end of the first quarter to shore up its balance sheet under the terms of its sale to a group led by Cerberus Capital Management.
The pace of activity around a possible sale of DaimlerChrysler's Chrysler Group is accelerating, after several potential buyers met with management before presenting preliminary offers by the end of the month, The Wall Street Journal reported.
GM, the world's largest automaker, delayed its filing of financial results for the fourth quarter and 2006 in part because of difficulties in preparing the balance sheet for its former financial arm GMAC.
That hour of sleep you lost this weekend thankfully was not over the stock market's performance last week. After starting Monday on the edge of what could have been an ugly precipice, Wall Street by Friday recovered some of its losses and a good deal of confidence.
Chrysler Group said it would recall almost half a million vehicles, including recent models of the Jeep Liberty and Dodge Durango after reported fires and its new Dodge Avenger sedan because of faulty door latches.
The 77th International Auto Show in Geneva, Switzerland this year will no doubt be remembered by the presence of automakers exhibiting alternative powered technology.
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.
If you've seen as many auto show's as I have, you rarely are impressed by the new models, displays, and "shows" put on by the automakers. Well, Geneva has changed that.