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
Toyota has been grabbing headlines and market share. But can rival Nissan grow just as aggressively? On CNBC’s “Closing Bell” Nissan's General Manager for North America--William Bosley--explained his company's plans to "shift" into high gear. In a first on CNBC interview (live from the Detroit Auto Show) Bosley showed CNBC’s Phil LeBeau the car that he's banking on to expand market share.
Cult cars emerge regardless of marketing efforts and BMW's MINI is on the verge of joining the Ford Mustang and a select group of other autos that captured the imagination of car lovers.
DaimlerChrysler's Chrysler Group should have a restructuring plan ready by February as it aims to recover from a loss expected to be near $1.3 billion for 2006, the automaker said.
Toyota Motor said it is considering expanding its manufacturing capacity in North America and is reviewing locations.
When I walked in to dinner with Ford CEO Alan Mulally on Wednesday night, I knew the menu would include a tasty entree, a sweet dessert, and a healthy dose of candor. All courtesy of the "outsider" trying to turnaround the struggling automaker. I expected the honesty since that's what I found while covering Mulally as he turned around Boeing Commercial Airplanes. And at this dinner, he was forthright in his praise of Toyota.
DaimlerChrysler's December U.S. auto sales rose 2.9%, while General Motors' sales fell 9.6% and Ford Motor's sales declined 9.4% for the same period, CNBC's Phil LeBeau reported. Toyota garnered a 16.6% sales increase.
December is proving to be another disappointing month for the big three U.S. automakers. Today's sales report for last month showed a double-digit decline in trucks sold by General Motors, and Ford dropped almost 13% on the whole. Chrysler eked out half a percent gain. On today's "Closing Bell," CNBC’s Dylan Ratigan sifted through the data to find out what it all means going forward.
FAST MONEY IN THE BIG APPLE: The Fast Money five will ring in the opening of 2007 trading at the NASDAQ this morning. Our Dylan Ratigan and company will share their market insights every night at 8 pm, starting next Monday. Meanwhile...stocks in the U.S. look set to spring higher at the open on the first trading day of the New Year.
While most of us wrapped 2006 with holiday parties and hopefully a few days off - hey, at least that's what I did last week - Chevy and Ford dealers finished a pitched battle to see which brand would wrap up the year as number one in total sales. The winner gets bragging rights as being America's favorite nameplate for cars and trucks. The loser will claim it doesn't matter. The truth is...
While the big 3 continue to struggle with costly (both in dollars and human terms) plant closings, the Japanese auto plants are surging. And the reason for this is America's growing appetite for fuel efficient vehicles. Which reinforces the hangover GM, Ford and Chrysler are feeling from years of focusing on SUV's and pick-up trucks. The latest number from the Japanese Automobile Manufacturers Association shows...
Bullish sentiment took hold of markets as stocks charged higher--albeit on thin volume--with auto and homebuilding shares leading the way.
When I heard that Ford CEO Alan Mulally met earlier this month in Tokyo with Toyota CEO Fujio Cho, I wasn't surprised. Nor should Ford investors and fans of the #2 American automaker. This is yet another sign, Mulally is bound and determined to move his company into a more competitive position - even if that means learning from a fierce competitor that is about to pass Ford.
This morning the market is buzzing about a meeting in Japan between Ford's CEO and Toyota's Chairman. They said they did not discuss forming an alliance, but that didn't stop speculation in this morning's Japanese newspapers which are ablaze with rumors that it’s the first step of a partnership. CNBC’s Bob Pisani reveals how this news (and other events) are moving markets.
Good morning. Our quote of the day comes from Gerald Ford: "Our long national nightmare is over." That of course was the former president referring to the end of Watergate. As you probably know-- Ford died last night in California. He was 93. Ford was the only U.S. president to serve--without having been elected to the office.
The meeting was also attended by Ford Executive Vice President Mark Fields, who is in charge of restructuring the automaker's loss-making North American operations, a newspaper said.
OK, I know you’ve probably heard that corny old line before, but for the breaking news desk, it certainly works today. Trust me when I tell you that the week between Christmas and New Year’s is slow. Painfully slow. Oh sure, there might be breaking news, but here in the business world, with many on vacation, we’re essentially waiting for January.
As soon as I started reporting on Thursday that Toyota is likely to replace General Motors in 2007 as the world's #1 automaker, the question came up: What's next for the Japanese automaker? Yes, in general terms the company is likely to continue gaining market share in the U.S. It's currently #3 with 15.3% market share behind ford 17.6% and GM 24.7%. And next year as Ford pulls back fleet sales to rental companies, Toyota is likely to become #2 in the U.S.
Today will be remembered as a landmark day in the automotive world. As CNBC first told you yesterday, Toyota will be taking the top spot in world wide sales next year, ahead of General Motors. CNBC’s Phil LeBeau has been following developments.
There's more evidence that Toyota is coming on strong and might leave both Ford and GM in the dust. CNBC’s Phil LeBeau has more on Toyota emerging as the #1 car company in the world.