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Ford Motor gapped up to a 15-month high Monday morning, following bullish options activity last week.
Credit Cash for Clunkers with giving Ford the boost needed to post its first positive monthly sales in 2 years.
Options action was bullish on Ford Motor today as investors bet that the automaker would rally at least 6 percent in the next four weeks.
When I first heard the $1 Billion set aside by the Federal government for the "Cash for Clunkers" program was about to run out, I chuckled and thought, "well that didn't take long." It also has brought up a question as to whether or not the quick evaporation of money means the public is ready to buy cars and trucks again, or if this is a one time "flash point" of demand sparked by Federal money. My gut says it's the latter.
A hot July for stocks has set the stage for a rally that should run right into August.
Wall Street's bull just won't give up, even in the face of crumbling support from oil and the dollar.
The bulls are still in charge, for now.
With so many people holding onto their car or truck longer, it's only natural folks are asking if they have a car that qualifies for the Cash for Clunker program. The fact is, most of us will not qualify for the federal program which kicked off this weekend. That's primarily because of the restrictions Washington has placed on the program.
It's becoming a habit at Ford. Beating the street and forcing analysts to raise estimates for when the auto maker will get back in the black. The second quarter numbers released today are further proof the country's #2 car company will likely be turning a profit fairly soon.
Just two weeks after emerging from bankruptcy, GM has re-arranged its leaders and now finds itself with a full set of directors. Those moves, along with the formation of an executive committee put in place the people who will try to lead GM back to profitability.
The question was blunt. The answer telling. Yesterday as I sat with a handful of other reporters for aone hour chat with Yoshi Inaba, the new President of Toyota North America talked about Toyota building cars that evoke passion.
The new man in charge of Toyota North America, Yoshi Inaba, is focused on getting the Japanese auto maker back on track in the states by making decisions faster and getting closer to the customer.
Boulder, Colorado is the perfect place to try out Ford's new EcoBoost engine. After all, zipping up Flagstaff Mountain in a Ford Flex is the way to truly feel the increased torque you get with EcoBoost.
It's the one thing auto execs constantly worry about. Making sure the launch of a new or re-designed model hits the target. It sounds simple, but historically there are numerous cases where an auto maker puts a new car or truck in showrooms and it falls short of expectations. Sometimes woefully short.
Whatever you think, and I know many of you reading this believe the guy ran GM into the ground and is now gone so who cares about him, what Wagoner thinks remains a mystery. Ever since the White House fired him at the end of March, Wagoner has been silent. As GM went in and out of bankruptcy, he said nothing publicly.
Taking full advantage of bankruptcy court, and the ability to drop contracts it no longer wants, GM is dumping dozens of sponsorships around the country.
Like the whirlwind trips in and out of bankruptcy for GM and Chrysler, Steve Rattner is leaving Washington just a few months after stepping into a high profile position with the Treasury Department. Rattner is leaving the Auto Task Force and heading back to private life in the investment world. Talk about making a splash and then getting out of town.
Today in Detroit, GM Vice Chair Bob Lutz is hitting the ground running in his move to change the image of the auto maker. Everything is up for review.
As GM emerges from bankruptcy Vice Chairman Bob Lutz, who had been scheduled to retire at the end of this year, will take over GM's marketing and communications. His mandate: change the perception of GM, its brands and models. Talk about taking on a tough job.
Now comes the hard part. After 39 days in bankruptcy, shedding thousands of jobs, closing more plants, and writing off billions in debt, GM is about to exit chapter 11 protection and try to show it can finally thrive. On paper it should succeed. In reality, it still has to prove itself.