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Talk about a tough time to come out with a new truck. The economy is struggling, the housing market is in the tank, high gas prices have spooked buyers out buying big rigs, and there's little enthusiasm for new models (unless they're hybrids).
A friend of mine said something the other day that surprised me. He said nothing, and I mean nothing, gets him stoked about the latest models out on the road right now. I suspect it's because he is like many other people and is tired of seeing cars touted for their fuel efficiency more than anything else.
Much of Chryslers slump can be blamed on the fact trucks and SUVs have fallen out of favor because of high gas prices. And since Chrysler has the greatest exposure (percentage wise) to the so-called "gas-guzzlers" among the Big 3, it's suffering big time.
Stocks ended mixed Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally. All three major indexes had been negative for most of the day, but the Dow tip-toed over the line at the last minute, helped by a 5% gain in GM.
Stocks wobbled Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally.
Stocks wobbled Wednesday as economic worries continued to nag the market and rain on the post-Gustav rally.
This morning BMW's president for North America told me something that might surprise more than a few people in the auto industry.
Filled up the tank lately? I have, and it's nice to see the cost of gas has come down a bit. I wouldn't call it a huge drop, but enough that it's noticeable.
There's an interesting theory when it comes to the SUV market. It goes like this: now is the best time to buy an SUV because the used market has bottomed out and prices will soon start going up. The more I've heard this, the more I've talked with dealers. And you know what their reaction is? A good laugh.
See, even mighty Toyota Motor is shifting into a slower gear. This morning in Tokyo, the company gave its business outlook for 2009 and beyond. It was mixed -- which is not surprising, given the economy. Here's Toyota's plan to stay ahead.
Since I've started this blog I've have had people react strongly to some of the things I've said. But NOTHING compares to the e-mails I've read after advocating the need for Federal loans to help the Big 3 automakers re-tool and rebuild their operations.
They say timing is everything. For Honda nothing could be truer. In the next couple of weeks an updated version of the company's red-hot subcompact, The Fit, will start rolling into showrooms. Talk about having the right model in place at the right time.
Let's get some things straight. As I write this blog, I'm fully aware some of you will scoff at the idea of the Federal government offering billions of dollars to the Big 3 in restructuring loans. I know some of you will say, "Don't give them a bail out. Let'em go under."
Don't look now, but something is coming back: deals. Not just little ones. Pretty decent deals. GM, Toyota and Mazda are currently running some of the more prominent marketing campaigns. But make no mistake, almost all the automakers are throwing more money and more generous financing terms behind their new models.
Here's a novel idea. Let's take the people who actually work at a car company and put them behind the wheel of the models crucial to that company's future. Ford Motor is starting to do that, and it's probably one of the smartest moves this company has ever made.
The latest U. of Michigan survey on customer satisfaction with automakers are a bit perplexing. On one hand, they show there's a wider gap between the Big 3 and their foreign rivals. On the other, these results fly in the face of numerous other studies that show the Big 3 edging closer to competitors when it comes to quality and reliability. Who's right? Both, actually.
Toyota Motor is considering exporting U.S.-made trucks including its full-size Tundra after scaling back its sales expectations for the U.S. market under pressure from record fuel prices and a slumping housing market.
Toyota Motor is set to raise prices of hybrid cars and commercial vehicles by 1% to 3% in Japan as costs for steel and other materials soar, the Nikkei business daily reported on Monday.
European stocks fell on Friday, knocked lower by a sharp drop in mining shares that followed falling metal prices, while automakers retreated after a profit warning from BMW and GM's massive loss.
Nissan Motor posted on Friday a much worse-than-expected 46 percent drop in quarterly operating profit, and stuck to its annual forecasts despite a severe downturn in the U.S. market.