Oct30
A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com. Still, auto sales contributed heavily to the economy's expansion in the third quarter, adding 1.7 percentage points to the nation's gross domestic product growth.
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Oct29
AutoNation Inc., the largest U.S. dealership group, posted its biggest profit of the year and said it would boost spending by 65 percent next year to update and buy stores.The net income of $65 million compares with a $1.4 billion net loss in the previous third quarter. “We are optimistic for the long-term prospects of the auto industry based on the successful restructuring of the domestic auto industry, the move to a demand-pull system and the rationalization of the dealer network...
Oct28
Airtime: Wed. Oct. 28 2009 | 4:40 AM ET
The auto sector has had a rocky road this year with falling demand and increased pressure to make greener vehicles. CNBC's Steve Sedgwick investigates the latest environmentally-friendly cars and Alessandro Vitelli from IDEAcarbon has analysis.
Chrysler's Dodge is slashing prices on its all-new heavy-duty Ram pickup trucks -- hacking almost $2,000 in the case of one model. 2010 Ram 2500 and 3500 Heavy Duty pickups will offer more features at a lower price, Chrysler says. Base prices will be $28,165 for regular cab models, $31,415 for crew cab models and $36,865 for Mega Cab models. All prices include $950 for destination.
New capital could range from $2.8 billion to $5.6 billion, according to report, GMAC, the former lending arm of General Motors Co., is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government's entrenchment in the U.S. auto industry. The Treasury Department mandated earlier this year that GMAC Financial Services raise an additional $11.5 billion in capital after undergoing a "stress test" along with 18 other banks. While...
Oct27
Ford Motor Co. has made the most progress in improving vehicle quality among major automakers, while Chrysler ranks at the bottom of the industry for reliability, according to an annual Consumer Reports survey released today. Asian automakers dominated the magazine's influential list of recommended vehicles, with Toyota Motor Corp.'s Scion ranked the top brand followed by Honda Motor Co.'s flagship brand. Toyota's flagship brand placed third.
Oct26
Former U.S. President George W. Bush urged the Obama administration to sell the government’s stakes in banks and carmakers “as quickly as possible,” arguing that only private companies can spark an economic rebound.Government “has got to get out of the private sector
What's in a name, you ask? A lot, especially when you're trying to increase market share against such storied brands as Aston Martin, Jaguar and Mercedes-Benz, to name just a few. Maserati took the wraps off its first proper four-seat convertible at last month's Frankfurt Motor Show. But while the open-air version of the GranTurismo coupe will be sold as the GranCabrio in
Oct23
it's tough sometimes shopping for car insurance when it seems like every auto insurance agent that tells you lies on how much auto insurance that you really need. You should go online and visit many auto insurance companies and fill out their application forms. This way you can guarantee yourself that you will get the best auto quote for your car.
Oct22
The National Automobile Dealers Association is trying to negotiate a deal between GMAC Financial Services and Chrysler Financial to help Chrysler dealers transfer their inventory credit lines to GMAC. Some Chrysler dealers are caught in a tug of war between the two finance companies over which lender should have priority over the dealership assets, said Forrest McConnell, chairman of the regulatory affairs committee for NADA, in a message to members. If the dispute isn't resolved...