Asian equity markets were mixed on Wednesday with Japan leading losses on profit-taking while Chinese shares rallied on news of financial reforms.» Read More
The United Auto Workers and General Motors resumed negotiations for a new labor contract on Wednesday, five days past the expiry of the previous pact.
There was a time when the idea of crude oil hitting $100 a barrel would have sent the auto industry into a panic. Funny, with oil now trading at roughly $82 and with a growing number of forecasters saying $100 is a possibility, the bread and butter big rigs (SUVs, pick-ups, crossovers) are still selling. People still want them, even if there's a greater chance of gas prices rising. Why?
Negotiators for the United Auto Workers union and General Motors were scheduled to resume discussions later on Tuesday as GM factory employees went to work as usual on the fourth day without a new contact.
Like George Steinbrenner stocking his New York Yankees with All-stars, Cerberus Capital is loading Chrysler with big-time execs. The latest addition is Phil Murtaugh, who will run Chrysler's operation and expansion in China and India. In the last ten years, Murtaugh has carved out a reputation as the American who knows China and how to grow auto sales in that country.
Toyota's top North American executive is defecting to Chrysler, a move that stunned the auto industry and gives a highly regarded leader and consummate salesman the chance to turn things around at the struggling U.S. automaker.
In the auto world, it's hard to say one executive can turn around a company. But there are certain people who are "game-changers". The type of executive with a great track record who could steer a company in the right direction. Jim Press, the former president of Toyota North America is one of those executives.
Stocks closed higher across the board as investors were encouraged by solid economic data and bid up technology and energy stocks. "We're very, very bullish because we think the economy is going to continue to be in a positive trajectory," said Tony Dwyer, equity market strategist at FTN Midwest Securities.
Just when you thought GM was falling behind Toyota in the fight to win over pick-up buyers, the country's largest automaker put up a big sales number for August. Overall, GM's August sales came in better than expected with an increase of 5.3%. But the real surprise was with truck sales jumping 14.9 %
Stocks rallied after President Bush outlined his plan to help distressed homeowners, and Federal Reserve Chairman Ben Bernanke said the Fed will act as needed to address credit concerns.
A few weeks ago, after writing a blog about the success Toyota has been enjoying, I was given a new nickname from a friend who is a retired Ford man who spent his career working in Detroit. He started calling me "Toyota Phil". The way he saw it, I've reported and blogged about Toyota's success so much, I must be the company's #1 fan.
Stocks are winding up for a higher open as traders focus on the Fed Chairman Ben Bernanke's Jackson Hole address and President Bush's expected subprime rescue plan for defaulting homeowners. Bernanke's 10 a.m. speech has been the buzz of global markets for more than a week and it is being watched carefully for any clues on how the Fed might react...
The head of Toyota Motor, the world's biggest automaker, said on Thursday he expects further cooperation between truck affiliates Isuzu Motors and Hino Motors to better compete in global markets.
Perhaps more than any other comment, the one I hear the most from readers is "when are we gonna see cars and trucks with better mileage?" Typically those comments are followed by questions about hybrids, diesels, or sometimes even electric models. I bring this up because we are at a crossroads in the auto industry. On Friday, GM showed reporters a new engine it's developing that, in theory, will be 15% more fuel efficient.
Toyota Motor aims to sell around 10.4 million vehicles worldwide in 2009, helped by increasing demand in North America as well as China and other emerging economies, business daily Nikkei reported on Wednesday.
With the markets so volatile, many investors might be tempted to head for the exits. But in these nervous times, there are smart moves you can make to protect your portfolio. CNBC asked the experts what they would buy--and sell--in this type of environment. Here's what they're telling us.
It's always fun when you gain a little clarity. And it's often very interesting where you find it. This time it came just off Woodward Avenue outside Detroit. 40,000 classic cars and somewhere near or over a million people. It's the 50's, the 60's and it's the 70's. But wait a minute. It's actually about the future. In amongst all these 'classics', the real message comes in the form of a question. What's next for Detroit?
If you thought the move toward hybrids and fuel-efficient sub-compacts was a trend that had perhaps slowed down, think again. This week J.D. Power and Associates released its list of the fastest selling cars and trucks in July and the hottest rides are gas sippers.
One week after Cerberus Capital announced former Home Depot spacerCEO Bob Nardelli will take over Chrysler, the reality of the job he faces in fixing the automaker is clear. It is gonna take a while.
Admit it, the headline caught your attention. Admit it, you may have scoffed and said, "yeah right" sarcastically. Admit it, you never imagined Buick and Lexus would be considered "equals."Well, back up your daddy's LeSabre and check out the latest vehicle dependability results from J.D. Power and Associates. For the first time in 12 years, another brand tied Lexus.
Amid the headlines this weekend about Cerberus closing the Chrysler deal and shaking up management at the automaker, one piece of news came out that blew me away. In the second quarter, Toyota posted a record profit of $4.13 billion dollars. Sounds staggering by itself until you look at it this way: every day last quarter Toyota made more than 44 million dollars. Almost 2 million dollars a day!