Aug31
The cash-for-clunkers program pushed Ford Motor Co.’s U.S. light-vehicle sales to the company’s second-straight year-over-year increase in August while lessening sales declines for Chrysler Group and General Motors Co., analysts say. Ford’s August sales were expected to grow 34.4 percent, according to an average of five analysts’ predictions gathered by Automotive News. That would be Ford's largest year-over-year monthly lift since October 2001. The company's 2.4 percent increase in...
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Tata Motors reports a net loss of $67 million, Tata Motors Ltd. plunged into a consolidated net loss for the fiscal first quarter as a liquidity squeeze world-wide hurt demand for its Jaguar and Land Rover luxury cars. India's biggest auto maker by sales Monday posted a net loss of 3.29 billion rupees ($67 million) in the three months ended June 30, compared with a net profit of 7.2 billion rupees a year earlier. Consolidated net sales rose 13% to 162.9 billion rupees from 144.14...
Aug28
Chrysler Group LLC said on Thursday it is now confident enough about its business to accept product defect claims that arise on vehicles built before its sale process was completed in June. Chrysler's predecessor, Chrysler LLC, filed for bankruptcy protection on April 30 and the sale of substantially all of its assets was completed on June 10 to Chrysler Group LLC, which is managed by Italy's Fiat S.p.A.
Aug27
Volkswagen of America wasn’t among the automakers that benefited most from the federal “cash-for-clunkers” program, but the German automaker did sell out of its 2009 diesel models, most notably the Jetta TDI, as customers traded in gas guzzlers for federal rebates. That may be a small accomplishment, given the 700,000 cars sold overall, but CEO Stefan Jacoby says he’s now ready to tackle some bigger things. He said Wednesday that he plans to make VW’s U.S. operations profitable and...
Aug26
Chrysler Group, whose new Italian partner, Fiat S.p.A., is preparing to supply Chrysler dealers with European-designed small cars, today scrapped plans to share vehicles with Nissan Motor Co. The decision means:
The Detroit 3 accounted for only 38.6 percent of the 690,114 vehicles sold under the cash-for-clunkers program, far below their 45.3 percent share of the U.S. market through July, federal data show. The figures, as of yesterday’s 8 p.m. deadline for filing transactions, suggest that foreign manufacturers got a bigger boost than domestic automakers from the $3 billion government program.
Aug25
General Motors Co. is dropping the GM logo on its cars and trucks. The badge is a small silver square with the blue “GM” embossed on it. It’s usually on the lower edge of the front fenders.
Aug24
A law enforcement official tells The Associated Press that the Los Angeles County coroner has ruled Michael Jackson's death a homicide. The finding makes it more likely criminal charges will be filed against the doctor who was with the pop star when he died. The official says the coroner determined a fatal combination of drugs was given to Jackson hours before he died in his rented Los Angeles mansion on June 25. The official spoke on condition of anonymity because the findings have...
Used car group AutoStar is recruiting rejected dealers, Several former Chrysler executives and dealers are helping recruit rejected Chrysler and General Motors dealerships to establish a used-car chain called AutoStar Superstore. The plan is to open the first five stores Oct. 1 — one each in Albuquerque, N.M.; Portland, Ore.; Las Vegas; St. George, Utah; and Pittsburg, Texas — says George Lovato Jr., chairman of AutoStar Dealer Network in Albuquerque. Lovato is the founder of Rent...
Dealers have submitted 635,186 cash-for-clunkers claims for $2.65 billion in rebates as of 7:47 a.m. Eastern time today, the U.S. Transportation Department said, indicating that the program is rapidly approaching its $3 billion limit with only 12 hours to go. Transportation Secretary Ray LaHood set a deadline of 8 p.m. Eastern time for all dealer claims to be filed. He has said all dealers who submit their deals by this deadline will get paid.