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GM chairman Ed Whitcare says it is hard to attract talent with pay restrictions, reports CNBC's Phil Lebeau.
General Motors Chairman Ed Whitacre is calling on the Obama administration to loosen pay caps. CNBC's Phil LeBeau has mo...
LEBEAU'S AUTO INDEX
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Current DateTime: 03:01:11 12 Nov 2009
LinksList Documentid: 30830730
Expiration DateTime: 11/12/2009 3:03:30 PM
    • GM Chairman Urges Easing of Pay Caps  11 Nov 2009

        GM chairman Ed Whitcare says it is hard to attract talent with pay restrictions, reports CNBC's Phil Lebeau.

    • GM's Road Ahead  11 Nov 2009

        General Motors Chairman Ed Whitacre is calling on the Obama administration to loosen pay caps. CNBC's Phil LeBeau has more on this and GM's road ahead.

    • Car Imports Widen UK Trade Gap  10 Nov 2009

        The UK's trade deficit widened to an eight-month high in September as the number of imported cars rose sharply. Neil MacKinnon from VTB Capital spoke to CNBC about the outlook for the UK and sterling.

    • The Nikkei Business Report  09 Nov 2009

        The Nikkei 225 finished up 0.2% at 9,808 Monday, but volume was down at a 6-week low. Fast Retailing, Suzuki Motor, and Kubota were top gainers, but major power companies were among the hardest hit. Makiko Utsuda from The Nikkei has more.

    • Fiat's 5-Year Road Plan for Chrysler  05 Nov 2009

        Fiat said its 5-year road plan to turn around Chrysler will result in the doubling of revenue. "There is no alternative but for Chrysler to be ambitious at this point," Stefano Aversa, co-president of restructuring specialists Alix Partners, said Thursday. "They have plenty of cash."

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Current DateTime: 03:01:12 12 Nov 2009
LinksList Documentid: 30830722
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Behind The Wheel

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Aug.01
4:28 PM ET
Friday, 1 Aug 2008
Auto Sales Prove No Bottom For Industry Yet

Ugly Auto Sales
CNBC.com

Want proof of just how bleak things are for the economy and automakers?

The July sales rate dropped to it's lowest level since April of '92. Last month, the sales pace was 12.55 million. More than a million units slower than June.

And unlike June nearly every automaker was down in July. When you adjust for two extra sales days, here's how much sales dropped:

Chrysler: down 34.2%
GM down 32.4%
Ford down 21.5%
Toyota down 18.7%
Honda down  9.2%

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You get the point. The consumer has hit the brakes. In April and May, sales faltered for trucks and SUVs. In June, cars started to show some weakness. Now, after looking at July, it's clear people are holding back on purchasing any vehicle. Car, truck, SUV, crossover, it doesn't matter. People are reluctant to sign on for a major buy or an auto loan that will tie them up for 4-5-6 years.
Saving General MotorsCNBC Original Productions: Saving General Motors

Have we seen the bottom in the auto market? Based on July sales, I say no.

Questions?  Comments? 

© 2009 CNBC, Inc. All Rights Reserved

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