automaker

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Analysts See Steep Sales Slide for Big 3 in '08

(Newser) - Automakers are predicting a mildly soft sales year for 2008, but analysts warn a “poverty effect” caused by an imploding housing market could send US light auto sales skidding as much as 9.4% to their worst year since 1993, Reuters reports. “I’m just not sure how...

Chrysler Plan Cuts Dealers, Overlapping Models

To return to profitability, car maker may restructure its vehicle and dealer lineup

(Newser) - Clued-in dealers say Chrysler is considering a restructuring plan to simplify its lineup: Chrysler dealers would sell all the company’s passenger cars, Jeep dealers would carry only Jeeps and SUVs, and Dodge dealers would handle commercial trucks and pickups. The reorganization would allow Chrysler to eliminate overlapping models and...

Court Overturns Volkswagen Law, Takeover Likely

Porsche to exercise control in VW

(Newser) - The EU’s highest court today overturned a 47-year-old German law that protected Volkswagen AG from takeover, opening the door for a long-rumored Porsche coup. Porsche already owns 31% of VW, but the law capped their voting rights at 20%. With that impediment gone, “I see Porsche flexing its...

Historic Deal in Sight for GM and UAW

Agreement reached on shifting health costs to union-run trust

(Newser) - After bogging down for several days, talks between General Motors and the UAW got back on track yesterday as automaker and union reps closed in on a historic agreement to shift health-care costs to a union-controlled trust, the Wall Street Journal reports. The two sides are said to have a...

CA Tosses Global Warming Suit v. Automakers

Judge dismisses California's charges against carmakers

(Newser) - A federal judge has thrown out California's attempt to hold automakers liable for the environmental implications of vehicle emissions, the LA Times reports. The judge who rejected the much-watched lawsuit Monday called global warming a "political question" for legislators, rather than courts. The suit had blamed carmakers for Sierra...

Ford Turns 1st Quarterly Profit in 2 Years

Automaker thumps expectations, moves into black for 2007

(Newser) - In a surprise turnaround, Ford reported a $750 million quarterly profit today, ending seven quarters in the red by declaring earnings of 31 cents per share. Excluding profits related to the sale of Aston Martin and job cuts, the figure was 13 cents per share ($258 million), Bloomberg reports. Ford...

UAW Gears Up for Contract Talks on Health Care

Current system must change as retirees outnumber active workers

(Newser) - The United Automobile Workers Union starts high-stakes contract talks with Detroit automakers tomorrow, at a time when the union counts more retirees than active workers in its ranks—meaning higher health-care costs—and the American automotive industry is in dire financial straits. The talks are being called "the most...

Chrysler Plunges Into China Trade
Chrysler Plunges Into China Trade
Jul 4, 2007 12:29 PM CDT

Chrysler Plunges Into China Trade

US auto giant plans to use tiny imports to battle Japanese manufacturers

(Newser) - In a cost-cutting move, Chrysler will introduce cars produced by China's biggest automaker to the US market by late 2009. Chrysler and Chery staged a signing ceremony today in Beijing to allay fears about the American auto giant's new ownership not backing the deal, MarketWatch reports. The first vehicles will...

Energy Bill Faces Fierce Floor Fight

Automakers will bring out the big guns to battle 45 mpg efficiency standards

(Newser) - The Democrats' energy bill is under attack on two fronts in the Senate—automakers want to weaken fuel efficiency standards, and the coal industry is looking for tax breaks for making diesel. The Wall Street Journal predicts a ferocious floor fight over the proposed package that would set a 45...

Detroit Resists MPG Rules
Detroit Resists MPG Rules
Jun 7, 2007 5:10 AM CDT

Detroit Resists MPG Rules

Face-off in Washington over tougher fuel economies

(Newser) - The Big Three car makers are trying to put the breaks on Congressional plans to toughen fuel economy standards to an average of 35 mpg over the next 15 years. The Wall Street Journal predicts a political struggle that will test how much clout Ford, Chrysler and GM still have...

Toyota Finally Tops GM
Toyota Finally Tops GM
Apr 24, 2007 10:06 PM CDT

Toyota Finally Tops GM

First-quarter sales rise 9%, ending GM's 76-year reign as world's biggest automaker

(Newser) - Toyota vroomed past General Motors in the first quarter to become the biggest automaker in the world, ending GM's 76-year reign. Riding the strength of its innovative Prius hybrid and solid standbys like the Camry, Toyota posted record first-quarter sales of 2.35 million vehicles, compared to GM's 2.26...

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