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.
Can diesel replace hybrids as the most attractive option for those who want a car powered by something other than unleaded gasoline.....The latest Intellichoice study is reason for optimism among diesel fans.
When you have a car company going through the great unknown of bankruptcy, you take the good news when it pops up. For Chrysler, the good news is the way residual values for new Chrysler vehicles are not only holding up, but actually rebounding a bit from when the company first filed for bankruptcy. It is the kind of proof the supports the arguments from the White House and elsewhere that bankruptcy would help, not hurt, Chrysler and GM.
If all goes as planned and GM comes out of bankruptcy Thursday afternoon the country's largest auto maker will have gone in and out of Chapter 11 in 40 days.
Hyundai is trying to ease consumer fears about rising gas prices by running a new promotion where buyers of most Hyundai models join a program where they never pay more than a $1.49 a gallon for the next year. As promotions go, I think it's a smart move. It will get Hyundai in the conversation with many buyers.
It's been a long time coming. Roughly two years if you're keeping score. That's the last time Ford was locked in as the #2 automaker in the U.S. Well, after the first six months of 2009 Ford as once again pulled ahead of Toyota in U.S. sales year-to-date.
After we get the June auto sales today, we will be halfway through a year that has thrown the auto makers and American car buyers for loop. Some thoughts on what's changed, what's the same, and some trends/ideas worth examining.
If you have, you've probably noticed things are a little different. Those deals that we've seen for months (ok, in many cases years) offering huge discounts are harder and harder to find. It's a little early to say we are done with the days when the buyer could call the shot on most models. You still, have some leverage, but not as much as in the past.
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.