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 [...]
“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 [...]
(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 [...]
CARMAKERS are forever looking for ways to keep customers coming back. They spend hundreds of millions of dollars on advertising. They slash prices. They throw in all sorts of options.
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Where Driving Has Its Rewards
But they are also increasingly turning to co-branded credit cards that give customers points for [...]
That’s probably what went through the minds of executives stuck in a traffic jam on their way to the Beijing Auto Show on Sunday, Auto Show in what could be a foretaste of infrastructure meltdown during the Olympics.
With thousands of industry officials, event planners and journalists heading to an exhibition site on the outskirts [...]
(Corrects to attribute quotes throughout to executive Steven
Landry, not Michael Manley, as previously sent)
By Soyoung Kim
DETROIT, April 1 (Reuters) - Chrysler LLC said on Tuesday
it would continue to offer customers zero percent financing in
April and cut production if necessary as the embattled No. 3
U.S. automaker struggles with sluggish [...]
NEW YORK (Reuters) - U.S. auto sales “dropped sharply” in recent months and may fall 7 percent this year, while higher costs from tougher environmental regulations may pose a long-term challenge, Standard %26amp; Poor’s said in a report on Tuesday.
U.S. auto sales may fall to 14.9 million this year from 16.1 [...]
