by Paul A. Eisenstein | Aug 1, 2019
General Motors took Wall Street by surprise on Thursday, blasting through the consensus Q2 earnings forecast with second-quarter net income of $2.41 billion, or $1.66 a share, while earnings adjusted to exclude one-time items came to $1.64 a share. That was a modest...
by Joseph Szczesny | Jul 31, 2019
The top lobbyist for Detroit’s automakers has renewed efforts to win Congressional approval of the U.S. Mexico Canada Agreement, or USMCA, that the Trump administration wants to replace NAFTA. Matt Blunt, president of the American Automotive Policy Council, the...
by Michael Strong | Jul 31, 2019
Fiat Chrysler rode strong full-size pickup sales to a strong second quarter result with net profit from continuing operations at €0.8 billion, or $891.4 million on revenue of €26.7 billion, or $29.8 billion. The company’s net income was up 14% while the revenue...
by Michael Strong | Jul 29, 2019
For decades, Americans often measured their success by the size of their house and, perhaps even more so, what kind of car was sitting in the driveway. A new study suggests not much has changed. In fact, the pressure to “keep up with the Joneses” is still a...
by Paul A. Eisenstein | Jul 29, 2019
New car sales may be down for July, but prices are running at record level, according to a preliminary analysis by J.D. Power and Associates, an average of more than $33,000, or $1,400 more than what the typical new model cost U.S. buyers a year ago. But that only...
by Joseph Szczesny | Jul 25, 2019
Edmunds, the vehicle buying service, is predicting a small increase in sales for the first time in several months when the industry releases a partial list of sales numbers next week. The forecast by Edmunds estimates sales will total 1.38 million new cars and trucks...
by Paul A. Eisenstein | Jul 25, 2019
Nissan will slash 12,500 jobs worldwide, significantly more than earlier reports from Japan had indicated. The company also plans to reduce its production capacity by 10% over the next three years, while eliminating 10% of its current model mix. “Our situation right...
by Paul A. Eisenstein | Jul 24, 2019
Tesla stock plunged in after-market trading Wednesday as the automaker announced a second-quarter loss of $408 million despite achieving record production and deliveries. Tesla did manage to drive up revenues by 47% compared to year-ago levels, to $5.2 billion. It was...
by Paul A. Eisenstein | Jul 23, 2019
Already facing a number of lawsuits related to faulty transmissions, Ford has been hit with another class action, this one alleging the automaker falsified fuel economy numbers for its F-150 pickups. The lawsuit, filed in the U.S. District Court for the Eastern...
by Michael Strong | Jul 23, 2019
AutoNation named Cheryl Miller, the company’s CFO, to take the reins as Chief Executive Officer — the auto retailer’s second person to hold the job in the four months since long-standing CEO Mike Jackson gave up the job. Miller is replacing Carl Libbert, who took over...
by Paul A. Eisenstein | Jul 23, 2019
Your locomotive in the shop? No problem. Or so it might seem if you can get your hands on one of Ford’s prototype all-electric pickups. While the truck is still several years away from production, the Detroit automaker is demonstrating off its potential muscle with a...
by Joseph Szczesny | Jul 17, 2019
New technology is creeping into cars, but motorists remain ambivalent about its presence. Now a new study from Autolist.com shows that consumers’ attitudes towards driver monitoring system, or DMS, which can prevent a driver from nodding off while behind the...
