U.S. automakers, now facing their worst sales slump in 15 years, are nervously eyeing world trade talks they fear could open the U.S. market to more imports without giving their exports a boost.
“We’re worried about the direction it’s taking,” Steve Collins, president of the Automotive Trade Policy Council, which represents General Motors Corp, Ford Motor [...]
Major automakers are expected to post steep declines in U.S. sales for May, as the spike in gasoline prices battered an industry already reeling from weak consumer confidence and tighter credit.
Weak U.S. sales in May would add to growing concerns that the world’s largest market for vehicles is headed for a deeper downturn this year, [...]
Despite sliding 0.5% to 184,467 units, vehicle sales in Canada have posted their second-best month of May and are on track to perhaps their best year ever, says auto analyst Dennis Desrosiers.
“Rarely does Canada go counter-cyclical to the U.S. market for any length of time and it has now been a couple of years,” said [...]
U.S. auto sales failed to gain traction in May, with General Motors (GM - Cramer’s Take - Stockpickr) and Ford (F - Cramer’s Take - Stockpickr) reporting hefty declines for the month.
GM, the nation’s No. 1 auto seller, said auto sales fell a greater-than-expected 30% in May to 272,363 vehicles. Truck and SUV sales dropped [...]
The Dow Jones Industrial average closed higher on Thursday, led by automaker General Motors Corp., after the automaker reached a tentative agreement with the Canadian Auto Workers union.
The blue chip index gained 94.28 points to end at 12,992.66.
Shares of General Motors gained $1.04, or 5.2 percent, to $21.23. On Thursday, the Canadian Auto Workers union [...]
“The economy is far from being ‘out of the woods,’” wrote Brian Bethune and Nigel Gault, economist for Global Insight. The economic indicators in the coming week will show “an economy that is still struggling.”
The data will cover all the main parts of the economy: Consumer spending, manufacturing, housing and inflation.
Consumer spending, industrial output and [...]
Last we looked, none of Ontario’s auto plants were located in Premier Dalton McGuinty’s Ottawa-area riding. Yet the premier has been consistently supportive of Canada’s largest manufacturing sector, the powerhouse of Canada’s largest provincial economy.
When General Motors Corp. announced about 970 layoffs at its Oshawa complex last week, McGuinty popped up a day later to [...]
DETROIT (Reuters) - General Motors Corp’s (GM.N: Quote, Profile, Research) chief sales analyst said on Wednesday the U.S. automaker expects the automotive industry’s global sales to rise about 4 percent this year due to strong demand in emerging markets.
The North American market has been “challenging” but GM saw strong sales in [...]
(For table of earnings forecasts, click [ID:nT287406])
* What: Top Japanese automakers‘ 08/09 outlook, Q4 earnings
* When: From April 24 to May 13
* Fourth-quarter earnings performance to be mixed but
double-digit falls assured for most in 2008/09 due to weak dollar
and rising commodities prices
By Chang-Ran Kim, Asia auto [...]
IT is quite possible that the enthusiasts who know the most about the Nissan GT-R are those still a few years away from getting their driving licenses. Such is the downside of a car best known as a video game icon. Even so, the GT-R%26#8217;s exterior styling is not so extreme that drivers [...]
