auto industry – News Stories About auto industry - Page 34

Jan 10, 2008 10:34 AM CST

India's Tata Debuts $2,500 Car

Tata Motors' Nano could add millions of cars to India's already congested roads

(Newser) - It has no radio, air conditioning, or passenger-side mirror and only one windshield wiper; but what Tata Motors' newest offering, the Nano, does have is a price tag that could help millions of people become car owners: $2,500. The tiny 4-door sub-compact, the world's cheapest car, was unveiled at...

Ford Sales Slump in December

Jan 3, 2008 1:15 PM CST

Ford Sales Slump in December

Light-vehicle sales down 9% over Dec. '06, and off 12% for all of 2007

(Newser) - Ford Motor Co. reported a 9% dip in US sales of cars and light trucks between last December and December 2007, capping off a dismal year for the company and the auto industry, the Wall Street Journal reports. Ford, which is third in US auto sales behind Toyota and leader...

Cars Get Gadgety Makeovers

Jan 2, 2008 1:42 PM CST

Cars Get Gadgety Makeovers

Vegas electronics show will preview next wave of tech upgrades

(Newser) - Cars could be the next must-have gadget, the Wall Street Journal reports, with Ford making Microsoft's Sync system standard issue on many models just a sign of things to come. Bringing the comforts of the digital age to the road will be a major theme of this year’s Consumer...

Toyota Poised to Overtake GM

Dec 25, 2007 8:00 AM CST

Toyota Poised to Overtake GM

Plans to build 9.95 million vehicles, widen lead as largest automaker

(Newser) - Toyota, the most profitable automaker in the world, says it will increase production by 5% to a record 9.95 million vehicles in 2008, opening up a lead over General Motors, Reuters reports. Toyota, which sold 9.36 million vehicles in 2007, also expects sales to increase 5% in 2008...

Chrysler Faces Cash Crunch

Dec 21, 2007 10:09 AM CST

Chrysler Faces Cash Crunch

Struggling automaker looks to sell assets to raise cash in a hurry

(Newser) - With an auto industry novice as CEO, a product line trailing the rest of the industry, and an inadequate cost-cutting strategy, Chrysler is scrambling to sell assets to climb out of a deep financial hole. Four months after Cerberus Capital Management took the automaker private, the Wall Street Journal finds...

Feds Block California's Tougher Emissions Law

Dec 19, 2007 11:57 PM CST

Feds Block California's Tougher Emissions Law

EPA refuses waiver with 16 states waiting in the wings

(Newser) - The Bush administration has refused to allow California and 16 other states to set their own strict standards on tailpipe admissions. EPA chief Stephen Johnson yesterday declined to grant California a federal waiver to impose its own standards on greenhouse gas admissions from vehicles. The other states were poised to...

GM Offering Buyouts to 5,200 Workers

Dec 19, 2007 5:59 AM CST

GM Offering Buyouts to 5,200 Workers

New round aims to slash labor costs

(Newser) - General Motors is offering to buy out another 5,200 hourly workers, the Detroit News reports. The automaker, worried that the slowdown in auto sales will carry into next year, is keen to get veteran workers out the door and lower-paid new workers in. Over 34,000 blue-collar workers left...

Calif. Clears Hurdle on Emissions Law

Dec 12, 2007 3:46 PM CST

Calif. Clears Hurdle on Emissions Law

In blow to automakers, judge rules state can set standards on greenhouse gases

(Newser) - California is one step closer to being able to regulate greenhouse gas emissions from vehicles after a federal judge today rejected the auto industry’s challenge to a state law, the Los Angeles Times reports. The state still needs a waiver from the Environmental Protection Agency to implement its standards,...

Auto-Loan Delinquencies Rise as Stress Spreads

Dec 6, 2007 6:36 AM CST

Auto-Loan Delinquencies Rise as Stress Spreads

Lenders are tightening credit, raising rates as delinquencies rise

(Newser) - Consumer auto loans are beginning to show the strain of the subprime collapse, with delinquencies among top-rated borrowers from 2006 rising 55%, to 4.5%, in September. That's the largest month-to-month increase in delinquencies in nearly a decade, the Wall Street Journal reports. Delinquencies among less credit-worthy consumers rose to...

Chrysler CEO Predicts
$1.6B Loss This Year

Dec 5, 2007 10:01 PM CST

Chrysler CEO Predicts $1.6B Loss This Year

Automaker faces second straight year in the red

(Newser) - Chrysler will be screeching toward a second consecutive year in the red, sources told the Wall Street Journal, as the automaker will lose $1.6 billion. CEO Robert Nardelli told designers and engineers this week that while the beleaguered automaker’s revenue was about $63 billion, costs exceeded $64 billion....

30K Americans Ordered... This?

Dec 4, 2007 6:30 PM CST

30K Americans Ordered... This?

Daimler's new fuel-savvy car in high demand before 2008 release

(Newser) - American orders for a new fuel-smart car are already swamping its German manufacturer, the AFP reports. Some 30,000 Americans have already put down $99 on Daimler's Smart Fortwo in anticipation of its January arrival—but some analysts say the tiny two-seater will end up parked in a country that...

Nov. Sales Languish for Big 3

Dec 4, 2007 8:35 AM CST

Nov. Sales Languish for Big 3

Ford and GM announce production cuts as US sales slump continues

(Newser) - Ford and GM will join Chrysler in cutting production in early 2008, reports the Wall Street Journal today, following sluggish November sales and anticipated weak demand driven by continued economic fallout. Only Ford saw a modest 0.6% improvement in US sales last month, while GM sales were down 11%...

Congress Set to Require 35mpg on US Autos

Dec 1, 2007 8:35 AM CST

Congress Set to Require 35mpg on US Autos

Lawmakers agree to measure upping mileage 40% by 2020

(Newser) - Lawmakers have hammered out a deal to force US automakers to improve fuel efficiency, the New York Times reports. The measure requires cars and SUVs to get 35mpg on average by 2020, an improvement of 40%. It is expected to pass Congress and be signed into law as part of...

VW Opens Russian Factory

Nov 29, 2007 5:51 PM CST

VW Opens Russian Factory

Auto maker may find stiff competition already there

(Newser) - Volkswagen is attempting to break in to the Russian auto market by opening a major factory in the town of Kaluga, 100 miles southwest of Moscow. They are not alone: Der Speigel reports that Volvo and Renault already produce cars there, and GM, Ford and BMW have all grabbed substantial...

Toyota Unveils Driving Simulator

Nov 26, 2007 1:34 PM CST

Toyota Unveils Driving Simulator

Huge dome rocks and rolls on rails

(Newser) - Toyota today unveiled its new driving simulator, a 7-meter-across dome with 360-degree imaging that mimics the experience of real driving by rocking on a rail. Toyota will use the simulator to test safety features without endangering drivers, see how tiredness and intoxication affect driving, and develop safety features for specific...

Motor City Going for Green

Nov 24, 2007 3:02 PM CST

Motor City Going for Green

Automakers blame environmental concerns for falling sales

(Newser) - Auto industry bigwigs at the Reuters Auto Summit in Detroit this week seem finally to have gotten the message on cleaner, more fuel-efficient vehicles; one after another they cited going green (or at least greener) as the path to more competitive cars and trucks. GM honcho Robert Lutz admitted that...

Cadillac CTS Wins Car of Year

Nov 20, 2007 7:57 AM CST

Cadillac CTS Wins Car of Year

(Newser) - Cadillac's CTS won Motor Trend’s 2008 car of the year honors today, reports the AP. Editors said the $32,990 entry-level luxury sedan stood up to BMW and Mercedes, and proves Detroit can build a competitive sedan—despite years of focusing on SUVs and trucks. "The CTS obliterates...

Analysts See Steep Sales Slide for Big 3 in '08

Nov 19, 2007 7:49 AM CST

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

Nov 17, 2007 2:09 PM CST

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...

Hybrids Lag in Resale Value

Nov 14, 2007 5:10 PM CST

Hybrids Lag in Resale Value

Not one cracks the top 10; Volkswagen rules the roost

(Newser) - No hybrids cracked the top 10 in a new report on the projected resale value of vehicles, the LA Times reports. The Kelley Blue Book predictions have 3 models from Volkswagen and 2 from Honda, but none of the gas-saving newbies. Brand-new hybrids remain strong sellers, one analyst says, but...