Tesla, the high-end electric carmaker has expanded the number of shares it will offer when its stock starts trading this week. The company will now issue 20 % more stock at a price of $14-16 a share. All part of the Tesla plan to raise about $200 million.
Next week the country's largest automaker and one its smallest will both be scrutinized by Wall Street and investors.
China is going through the labor unrest and growing pains that you would expect in a country that pass up the U.S. in auto sales last year. In the last two months there have been strikes and labor unrest at different auto plants in China. Compared to some of the doozies in the past here in the U.S., these are mild. But I suspect this is just the beginning.
For years people have derisively said, "oh that's a chick car" when describing a certain model supposedly favored by women. Whenever I would hear people in the auto industry use this term, I'd think to myself, "Talk about making a broad, often incorrect generalization."
It's ok to admit it. It's ok to say that you are skeptical of the J.D. Power report that the Big 3 have passed up foreign automakers when it comes to quality. There are more than a few of you out there who e-mailed me last week to say that you aren't buying it.
For the first time ever, the J.D. Power Initial Quality Study has found America's automakers build new models with fewer problems than their foreign competitors.
Despite a woeful track record in the U.S. In the last ten years, they haven't given up on winning over Americans. In fact, the folks at VW believe they can eventually sell a million vehicles here in the U.S. It's an ambitious goal for a company that sold roughly 300,000 (including it's luxury line Audi) here last year.
They're all increasing production. Building more cars and trucks, gearing up for what we've been told to expect: a steady increase in auto sales. But increasingly, there are indications we may not see a summer surge.
Looking for a good chuckle? Read the New York Times article from today outlining how GM sent a memo to employees suggesting they stop saying Chevy when referring to Chevrolet.
On the surface, the massive number of models recalled and the threat of vehicle fires has people asking, "Are GM and Chrysler now going down the same path as Toyota earlier this year?"
You'd think by now the message would be clear: Ed Whitacre Jr. is not going to stop making changes. Once again, he shook up the management at the automaker. And once again, people are asking why Whitacre keeps moving executives around—and whether or not he knows what he's doing.
There has long been a belief in the auto industry that as pick-up truck sales go, so goes the broader economy. After all, as business and spending picks up, the folks who drive pickups (contractors, builders, small business operators) are likely to buys a new work truck. And for the most part, the historical evidence points to truck sales and housing starts trending up or down together.
As brand deaths go, the demise of Mercury is being met with a collective shrug of the shoulders. Aside from the 276 Lincoln/Mercury dealers who are losing half their sales, few others will care that Mercury is leaving the Ford orbit.
You are a member of the Senate, and you’re starting to get spooked by the deficit. Polls show that voters are worried about it. Economists are, too. Something needs to change.
A year ago, who would have thought GM would be where it is today? A year ago, as then GM CEO Fritz Henderson walked into bankruptcy court, who thought GM would be profitable, and still #1 in the U.S. in the middle of 2010? A year ago, who figured the people guiding GM would be a former analyst on Wall Street and the former CFO of Microsoft?
Remember when Ford CEO Alan Mulally took the top job at America's number two automaker in 2006? Four years later, Mulally is delivering better results than many ever expected, and he's transformed Ford into a company that looks (and runs) a lot like Toyota in the late 90's.
Today in Washington, a group of lawmakers will roll out their plan to get the Department of Energy to spend billions of dollars nurturing the electric vehicle market.
Today in Smyrna, Tennessee, Nissan CEO Carlos Ghosn will be on hand for the start of production for the battery packs that will power the Leaf.
Ask Ford President of the Americas Mark Fields if he expects strong sales in the month of May, and you get an interesting response. Yes, he expects double-digit industry growth and Ford should have a relatively strong month, but his interest has already shifted to June.
It's not every day one of the Big 3 decides to take work it contracted to a foreign supplier and bring it in house back in Detroit.