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European Financial Woes Hurting The Auto Indusry Despite Strong Sales – (F, GM, TTM)
Despite U.S. auto sales remaining fairly high, the European sovereign debt crisis and economic slump is hurting net income for the carmakers. The effects are not limited to Europe, as are also hitting companies based in Detroit, particularly Fiat and Peugeot. Ford Motor Company (NYSE:F) Ford Motor Company reported its top July sales in more…
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Auto Industry Discloses Strong Sales Data But May Face Higher Competition In The Second Half Of 2012 – (F, HMC, GM)
Honda Motor Co Ltd (NYSE:HMC) shares plunged yesterday despite a report that its sales recovery in the United States gathered speed in July with the market’s largest volume surge, supporting automakers to stay on track toward their best year since 2007. Japan’s third-biggest carmaker reported an advance of 45 percent, topping the 41 percent prediction…
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Major Automakers Set To Announce July Vehicle-Sales – (F, HMC, GM, TSLA, TM)
The growth rate of auto sales is predicted to remain steady in July, when sweeter financing agreements incited U.S. consumers to replace aging cars and trucks in the face of languishing consumer confidence and high unemployment. Fourty-one economists polled by Reuters expects the annual rate of U.S. light vehicle sales will be 14 million in…
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Why General Motors’(NYSE:GM) Global Marketing Chief Departs Just Ahead Of Corporate Earnings – (F, GM, TSLA, TM)
In the auto industry, General Motors Company (NYSE:GM) has recently revealed that its global chief marketing officer, Joel Ewanick, submitted his resignation to the Detroit auto maker. The departure news comes after many key changes to the company’s advertising approach and just ahead of its second-quarter quarterly financial results on Thursday. The giant automaker said…
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21 States Asks U.S. Auto Manufacturers To Create CNG Vehicles – (F, GM, TSLA)
Twnety-one states including Oklahoma are asking U.S. auto manufacturers to manufacture compressed natural gas vehicles for state vehicle fleets. A request for suggestions for reasonably priced and functional natural gas vehicles is part of a multistate plan declared in November by Oklahoma Gov. Mary Fallin and Colorado Gov. John Hickenlooper. Fallin was the one to…
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Latest Survey Shows U.S. Auto Companies Are Regaining Confidence – (F, GM, TSLA)
Executives in the U.S. auto industry, which is fortified with rising sales and strong financial position, predict to add workers and expand plants in the coming year, according to a latest survey released by KPMG LLP, the audit, tax, and advisory firm. Despite their optimism in general, executives mention some major setbacks ahead, including continuing…