Germany’s Automobilwoche reports that the bidding for Chrysler is all but over as the only serious interest comes from Magna International (MGA), the Canadian-based auto parts company. It is unknown what Magna might pay…
GM was hurt by mortgage results at its financial operations. But automotive operations showed some strength. Net income from GM’s global automotive operations totaled $304 million on an adjusted basis, in the first quarter…
GM’s (GM) sales were off 9.5% in April, but the stock rose 3.6% the next day. April was a tough month for all of the car companies, so GM’s slide was nothing special. Bear…
At least Toyota (TM) is not invincible. Its US sales fell in April from 220,000 to 210,000, a drop of about 4%. But, last year’s month had two extra sales days. On that basis,…
Most of the media’s attention regarding the car industry is directed at how badly sales will be in April. That is just the beginning of what could be a catastophic downturn in auto sales…
Alex Taylor III, over at Fortune Magazine, has floated the old balloon that GM (GM) has too many divisions. Pontiac, Cadillac, Buick, Hummer, etc. Taylor’s fundamental point is this: "Multiple brands mean multiple expenditures…
Edmunds early look at April car sales does not inspire confidence in automotive stocks. Adjusted for the fact that April has one less selling day this year their expectations are that Ford (F) will…
Toyota (TM) pulled ahead of GM (GM) as the world’s No.1 automaker during the first quarter of the year. The Japanese company sold 2.348 million vehicles in the quarter compared to GM’s 2.26. But,…
Bob Lutz, the world’s oldest car designer, who is also vice chaiman of General Motors (GM) today told an automotive conference in Louisville that default rates in the mortgage markets would hurt car sales…
For big US companies, China has a gravitational pull like the Sun. It can’t be avoided. The huge market is just too attractive. For firms like GM (GM), McDonald’s (MCD), and Wal-Mart (WMT), who…
Call it a roadblock, or just an attempt to build a toll. The head of the UAW, who sits on the DaimlerChrysler (DCX) supervisory board, wants the company to cease and desist in its…
This may be the UAW’s last stand. Private equity interest like Cerberus Capital Management are moving into the automotive industry hoping to pick up assets on the cheap. The hedge fund has already bought…
The offer that billionaire Kirk Kerkorian has made to buy Chrysler from parent DaimlerChrysler (DCX) is nothing short of brilliant. Kerkorian has in essence trumped three other offers from private equity firms and Canadian…
China is GM’s (GM) crown jewel. Sales there increased 25% in Q1 to almost 292,000. The big car company and its joint venture partners are the No.1 seller of vehicles in the market. But,…
Unions representing auto workers at Chrysler have gathered in Berlin ahead of the DaimlerChrysler (DCX) annual meeting. They want two things. The first is a look into the process of the potential sale of…