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Bob Lutz is swinging for the fences. Knowing he has to move quickly to change the perception of GM cars and trucks, the head marketing man is putting his money where his mouth is. General Motors is offering a 60 day money back guarantee on the company line-up of '09 and '10 models.
Conventional wisdom says the very well off go through recessions with little or no impact...This fall, conventional wisdom will be tested. There are a slew of new models either hitting showrooms or being introduced for hitting the street next year
For as long as I've been covering the auto industry, I've seen some variation of this story on a regular basis. Every so often, there is a survey that shows a growing percentage of car buyers would be willing to consider sliding behind the wheel of a Big 3 car. Despite these encouraging reports, the Big 3 market share continues to slide.
While most of us fixate upon GM gaining or losing market share here in the U.S., the company's success in China is a huge story that deserves more attention. Especially when you look at the latest report. In August, GM doubled sales in the country, selling more than 152,000. And this year GM's China sales are up 49% with 1.11 million vehicles sold.
As expected, several auto makers posted their best monthly sales of the year as the industry report August results. The sales pace is expected to be close to 15 million thanks to Cash for Clunkers bringing in throngs of buyers. But for individual auto makers the results were wildly different.
When auto makers report August sales later today, don't be surprised by the whopping numbers they put up.
How is this last trading day of August going to setup the markets for a traditionally weak September? Alan Valdes, vice president at Hilliard Lyons and John Lynch, chief market analyst at Evergreen Investments shared their insights.
These are fun days at Ford. After staring bankruptcy in the eye and surviving a horrific slump in sales, the auto maker is rolling. Sure, it's not yet back in the black, but it has the big "MO". It's adding production, cutting losses, and is in the sweet spot of new product cadence with models like the Edge and Taurus bringing back buyers.
It sounds strange to say it, but it's true. The auto industry still has too many plants with the capacity to crank out millions more cars and trucks than needed.
I thought the final numbers on the Cash for Clunkers program were fairly straight forward. The Department of Transportation released the top 10 selling models and what percentage of vehicles were sold by each auto maker. But those numbers don't make sense to many of you.
Recent economic numbers suggest that the economy may be finally turning to a recovery, said Jim Hardesty, president, market strategist and chief economist of Hardesty Capital Management, and John Merrill, founder and CIO of Tanglewood Wealth Management.
Stocks ended flat Wednesday as investors shrugged off solid demand from today's five-year Treasury auction and some encouraging economic reports.
The popular Cash for Clunkers program generated nearly 700,000 new car sales during the past month, giving the U.S. auto industry a badly needed jolt of activity during the deepest decline in auto sales in two decades.
Stocks were flat Wednesday as investors shrugged off solid demand from today's five-year Treasury auction and some encouraging economic reports.
Stocks rebounded Wednesday after a sharp jump in new-home sales.
Stock index futures extended losses after an initial uptick as data showed June orders for durable goods, excluding transportation, rose less than forecast despite overall orders posting their largest advance since July 2007.
Higher sales from the government's Cash for Clunkers program have prompted General Motors to boost production at several of its factories, according to company and union officials.
The Transportation Department says consumers who want to purchase a new car not yet on a dealer lot can still be eligible for the car rebate program.
This is one of those weeks when the auto industry is slowly but surely showing that its darkest days have passed. The three year downturn in production is giving way to small, but important increases in the number of cars and trucks rolling off assembly lines.
Get used to seeing more triple digit fuel economy ratings as Toyota, Ford, Chrysler, and other niche players start rolling out the electric line-ups over the next 3-4 years.