Earnings - [391 news]
... year, at least. In fact, Russian consumers managed to snatch up 41% more cars for the first half of this year as compared to the previous year. Not only that, but the vehicles being sold in Russia are more profitable than before as well, with the re...
...at the U.S. auto market, at the very least, is under as strong as recession as could be imagined. According to Presidential hopeful Barack Obama, the entire industry as a whole is facing a "perfect storm" of "record gas prices, rising steel prices, a...
...red sobering news about health care cuts, asset sales, retirement and separation packages, and the elimination of GM stock dividend. The doom and gloom hasn't scared off the General's Dealer Council, as 20 retailers purchased a combined $1m in GM sto...
...s, are declining faster than the value of the US dollar, but with a birthday coming, GM still wants something to celebrate. This September, the world's largest automaker will be celebrating its centennial under a financial pall unlike any it has face...
...t be going bankrupt any time soon. Still, as much as the two American automakers would love to quell fears of unsustainable liquidity, questions remain, especially as the pickup market in the United States continues to dwindle. In a note sent out to ...
...arley-Davidson of Italian bike maker MV Agusta turned out to be spot-on, as the American Motor Company has officially announced the deal today. The total price for MV, which also owns Cagiva, is reported at about $109 million, with $70 million of tha...
...igh-res gallery of the 2008 Dodge Grand Caravan SXTNow that General Motors and Ford have completely abandoned the minivan market for good, the American originator of the species faces only Honda, Toyota, Nissan, Kia and soon Volkswagen as manufacture...
...t own them: BMW, Renault, Toyota, Honda, even Mercedes-Benz, which is part owner of McLaren. Not Ferrari, though. The team, part of the Maranello-based sportscar maker, is owned by the Fiat auto group. However, Fiat does not contribute even one cente...
...ead additional gloom, shares of General Motors dropped $1.77 to close at $9.98 -- GM's lowest close in more than 50 years. While GM stock on Tuesday showed a bit of promise on the news that sales only dropped 18.2 percent in June (yes, it was suppose...
...d of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle product...
...ies for its HUMMER brand. According to reports, there are several companies interested in making a purchase of the military-inspired vehicles, though Tata Motors now appears uninterested despite earlier reports. One suitor is said to be Mahindra &...
...ings will improve any time soon. According to an email sent by CEO Bob Nardelli to Chrysler employees, he believes that sales will continue to spiral down the drain. So far, though, the third of the Detroit 3 isn't ready to announce any additional la...
...ave given him a total of 120 million shares and 5.6% of the Dearborn-based automaker. We learn today that Kerkorian took advantage of the demand for his offer of $8.50 per share and bought more than twice the amount of shares he originally intended. ...
...and skedaddle. Earlier this year, UAW President Ron Gettlefinger estimated that 15,000 would put their hands out, but another couple thousand decided to hop on the General's money train. The workers are expected to finish their employment by July 1. ...
...h Toyota's hybrid models and small cars are selling very well in the U.S., sales of pickups and SUVs have truly tanked, and Toyota had been counting on those sales just as much as its competitors. Of course, the giant automaker from Japan couldn't ha...
... do to help Detroit's automakers, Rick Wagoner, head honcho at General Motors, responded that his company could use an injection of cash for research and development into new, potentially green technology. Also mentioned were additional incentives fo...
...ies, makers of the Subaru brand of vehicles. Today, that deal has been made official as Fuji announced the sale that increases Toyota's voting rights in the automaker to 16.16 percent from 9.50 percent. This deal had been made possible by a newly rev...
... late seventies and into early eighties, Chrysler had gotten itself into such horrid financial shape that the U.S. government decided to step in and fix the situation itself. Considering the sorry state of affairs that all three of the Detroit automa...
...ock market, rumors regarding the company's financial standing continue to haunt the number three domestic auto manufacturer in America. Last week, rumors regarding the negative cash flow were so rampant, a company spokesperson went out of his way to ...
...t profitable, but apparently Exxon Mobil isn't doing as well as they might wish. The company just announced that it will be selling off its gas stations for financial reasons. We suspect that the industry keeps itself shrouded in mystery to protect i...
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