U.S. auto sales were stronger than expected in July and kept the industry on a pace for its best year in a decade, driven by SUVs and pickup trucks.» Read More
It may not emerge from bankruptcy as quick as Chrysler, but GM is entering the stretch run, and can see the finish line. Tomorrow, the country's largest auto maker will be back in bankruptcy court to finalize plans to sell the "good assets" to a new GM that will emerge from bankruptcy with a clean balance sheet.
It's a regular question around Detroit and in the auto industry: When will we finally here from new Chrysler CEO Sergio Marchionne?
The folks at Car and Driver Magazine have now documented just dangerous it can be. Rigging a car with a red light to alert drivers when to brake, the magazine tested how long it takes to hit the brake when sober, when legally drunk at .08, when reading and e-mail, and when sending a text. The results are scary.
If actions speak louder than words, watch how the Obama administration is dealing with Ford lately.
U.S. stocks turned mixed Tuesday after a quick boost from a well-received Treasury auction. U.S. Treasurys rallied, adding slightly to their earlier gains after a solid auction of two-year notes. But it was a see-saw day, with any boost or dip quickly fizzling. Read and listen to what the experts had to say...
Jack Ablin, CIO of Harris Private Bank and Thomas Lee, chief US equity strategist of JPMorgan, discussed whether the recent rally is over or whether this snap-back is an invitation for investors to get back into the game.
They've been jockeying for position for some time. But this morning, auto makers around the world will take big steps in the race to build mass market electric cars. When Energy Secretary Steven Chu announces grants for the development of fuel efficient vehicles and technologies, Ford, Nissan and Tesla will be the immediate beneficiaries.
Futures indicated a fairly flat open for Wall Street Tuesday, after the stock market saw its worst one-day loss in two months, as defensive stocks rose.
The Energy Department is lending money to the Ford Motor from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said Monday.
In addition to the recession, and the bankruptcies of Chrysler and General Motors, a new threat has appeared in the rearview mirror. Many smaller automakers are gaining a bigger share of the market, most notably Hyundai and Kia.
While most of us have been focused on the turmoil churning up GM and Chrysler the last 9 months, there's been far less attention given to the fact almost every other auto maker is struggling right now.
The UAW VEBA fund has named auto consultant and former auto analyst Steve Girsky to the board of General Motors. It's an appointment that should be applauded at GM, in Detroit, and on Wall Street.
Could it be we Americans are ready to take a new look at the Big 3? A couple of data points coming out this week show good news for GM and Chrysler, and by extension of being a domestic auto maker, for Ford as well.
It is an idea that has been floating around Detroit among those in the auto industry. Should General Motors change its name? When I first heard this question, I chuckled and thought, "Would it really be wise to throw out a well known name after 100 mostly successful years?"
The bill would give people a voucher for $3,500 to $4,500 if they turn in their old car or truck for new fuel efficient model built in North America. On paper it sounds good. In reality, the number of people who may actually benefit from this program could be extremely limited.
Ford CEO Alan Mulally has been saying it ever since he took over the blue oval. Ford Chairman Bill Ford Jr. has been backing the idea for just as long. Now we'll see if the company that got a lot of Americans hooked on SUVs (and made billions of dollars in the process) can be successful with fuel efficient cars and crossovers.
This one is for Wally Griffith. Wally was the executive producer of the "Saving GM" and "Saving GM: Inside the Crisis" documentaries. He would ask the same question time and again: Why does GM own Saab?
I can already hear the groans from fans of micro cars and the chortling from those who think the public is nuts to be excited over sub-compact cars.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.