GM Posts Profits for Q2 2007
Earlier today, General Motors announced a second-quarter profit that not only flattened Wall Street Estimates, but also increased shares as much as 6 percent.
Larger Mini Cooper Set to Debut in Europe and U.S.
The popular line of Mini Cooper automobiles will be getting a big brother, a model that will go on sale in Germany in November and will come to the United States during the first quarter of next year.
Farm Bill May Increase Import-Auto Taxes
AIADA, the American International Auto Dealers Association, turned its attention yesterday to a possible addition to the farm bill currently in the US House of Representatives.
Video: 2007 North American International Auto Show
This video footage of the 2007 North American International Auto Show, also known as NAIAS, may be from January, but since it focuses on the best in fresh new designs for the automotive industry, including the EyesOn Design awards and a design assignment for local college students called "My Other Car Is..." as well as offering previews of concept cars - some of which may roll out sooner than you think - there's no way it could be considered "old news.".
In Silicon Valley Toyota's Prius Outsells the Competition
Not surprisingly, newly released figures indicate the Toyota Prius is the best-selling automobile in the tech-savvy Silicon Valley.
Although nationwide the Prius is outsold by Toyota's own Camry and Corolla models and Honda's Civic and Accord, between January and May the Prius accounted for five percent of the new vehicles registered in Santa Clara County, California.
Q2 Results show GM gaining on Toyota
Detroit-based General Motors is narrowing the sales gap with Toyota Motor Corp, thanks to strong second-quarter sales numbers, despite the fact that demand for their product is continuing to shrink in North America.
Japanese Automakers Hard Hit by Quake
The earthquake that hit northwestern Japan on Monday, July 16 has shut down Riken Corp., a major supplier of piston rings and other parts to Japanese automakers.
U.S. Automakers Seeking to Dump Health Care Liabilities
Yesterday The Wall Street Journal reported on the apparent fire sale going on in Detroit as U.S. carmakers seek to raise financing for the coming Friday negotiations with the United Auto Workers where retiree health-care liabilities will be a major topic on the table.
Ford Rumored to Be Considering Sale of Volvo
Although Ford spokesman Tom Hoyt denies the rumor, speculation in the auto world is rife that the troubled automaker has opened talks for the sale of its Volvo unit with Swedish carmaker OEM.
National Gas Prices Climb Overnight
Overnight the average national price of gasoline climbed 2.6 cents to $3.026 according to the Oil Price Information Service and AAA.
Although per gallon amounts have fallen steadily since the May high of $3.227, the numbers have gone up 7.7 cents over the past week.
Ford Pushing Productivity in St. Petersburg
It seems that Russia is the new hotbed of automotive activity. Following in the steps of Volkswagen/Skoda, Ford has announced plans to push productivity in their plant outside St.
Survey Reveals Risky Teenage Driving
The August issue of Seventeen magazine will feature a study conducted by the publication and AAA looking at the high risk behavior of teenage drivers.
Americans Lose $1.5 Billion at the Pump
ABC News reports that each summer consumers lose about $1.5 billion at the pump as a result of gasoline expansion.
Technically a gallon of gasoline is defined as 231 cubic inches when measured at 60 degrees F.
New CEO for VW of America in September
September 1st will see some changes at Volkswagen of America, when Stefan Jacoby arrives to take the reins. Replacing Frank Witter as president and CEO of Volkswagen of America Inc, the holding company for both VW and Audi of America, his job will be to restructure the group's US business, working closely with the German management to expand the positioning of both brands.
Chrysler Partners with Chery Automobile of China
Chrysler and Chery Automobile Co. are set to bring Chinese-made Chrysler cars to the United States within the next two and a half years.
Chrysler Group Chief Executive Tom LaSorda announced the new partnership at a press conference on July 4 after preliminary negotiations were stalled last year by the sale of Chrysler to Cerberus Capital Management.
Compact Car Sales Reach 21% in May
Edmunds.com reports that in May sales of compact cars accounted for 21 percent of the automotive market, a sharp increase from the 15 percent for the compact genre recorded three years ago.
Ford, GM Perform Well in APEAL Survey
J.D. Power and Associates announced the results of its 12th annual Automotive Performance, Execution, and Layout Study on Thursday, June 28 with Ford and General Motors both snagging top segment honors.