Ford Delivers: Strong Earnings
Ford’s recovery is now complete, if it was not already. Ford reported second quarter net income of $2.6 billion, or $.61 per share, a $338 million improvement from second quarter 2009. Pre-tax operating profit…
Cars and Drivers
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Newest first · Page 304A Premium Bidding War in Rent Car Merger (DTG, CAR, HTZ)
Dollar Thrifty Automotive Group Inc. (NYSE: DTG) is about to get a new bid, or so it seems. Avis Budget Group Inc. (NYSE: CAR) is expected to jump in and make a rival offer…
Toyota: The Real Beatings Begin
There has not been much news about the recalls of Toyota Motor (NYSE: TM) cars and trucks recently. The largest of these happened in the winter and involved more than 8 million vehicles worldwide.…
The TARP Program To Increase American Unemployment
The average car dealership probably employs 20 or 30 people. That does not include the truckers who deliver the cars, the people who provide basic services, or the employees in the town where the…
European Auto Sales Continue to Slide
Sales of new cars in Europe, as measured by new car registrations, dropped in June for the third consecutive month. The slide is attributed to the end of what the Europeans call scrappage plans,…
Toyota: Tesla’s Savior
Toyota Motor (NYSE: TM), a company in the midst of saving its own image and financial health, will extend a lifeline to a small and struggling car company–Tesla NASDAQ: TSLA), which recently went public.…
China Car Sales–A Little Less Attractive To US Companies
China’s car sales increases slowed very sharply in June, up only 10% compared to the same month last year, according to the China Automotive Technology & Research Center. The news comes four days after…
GM IPO Could Come In August
GM’s IPO may come as early as next month after a long period of media speculation about the event and comments from the car company’s CEO Ed Whitacre, according to several media reports. GM…
GM China Sales Top US For First Time
China is now the largest car market in the world, having moved ahead of the US last year. Most analysts believe that 16 million cars and light trucks will be sold in the People’s…
US Car Sales Expected To Crater In June
Domestic car sales are expected to move into reverse in June. That should be expected after a year of monthly increases–some of them breathtaking. Edmunds expects every major car company to post declines with…
A Telsa $226 Million IPO: A Road To Disaster
Telsa’s IPO priced at $17, above the anticipated range of $14 to $16. The company sold 3.3 million shares and raised $226 million. The IPO was the first for a US car company since…
China Factory Output Down Nearly A Fifth As Other Car Companies Look On
Honda says that its factory output in China fell nearly 20% in the month of May. The labor dispute between Chinese workers and the Japanese car company worsened in June, so its financial impact…
Ford’s Big Sell Off
Ford Motor (NYSE: F) stock is down more than 23% during the last three months, which is significantly more than Toyota Motor (NYSE: TM) or Honda Motor (NYSE: HMC). At first glance, the comparisons…
Toyota CEO Apologizes To Shareholders
Toyota Motor (NYSE: TM) CEO Akia Toyoda spent most of the company’s annual meeting today trying to gain back shareholder trust and explain how the Japanese automaker will regain its footing. “I apologize deeply…
The GM IPO Loses Its Window
There are more rumors that GM will have an IPO before the end of the year. The latest gossip is that the Treasury will sell 20% of its shares in the process, get taxpayers…