Detroit Automakers Cutting Back on Summer Factory Shutdowns
Detroit's automakers are largely forgoing traditional two-week summer breaks at their factories and speeding up production to meet buyers' demand for new cars and trucks.
Detroit's automakers are largely forgoing traditional two-week summer breaks at their factories and speeding up production to meet buyers' demand for new cars and trucks.
There are nearly 3,000 items in the Walmart.com "Clearance" section and the prices are remarkably low. But the world's largest retailer is testing a new, less customer-friendly wrinkle. Now, some of the online clearance products have to be picked up at stores unless the customer wants to pay for home shipping.
Ford is expanding a recall of its popular F-Series truck line because of faulty airbags that can deploy unexpectedly and possibly lead to injuries, federal regulators said Thursday. The expanded action now includes some 1.2 million trucks from the 2004 through 2006 model years.
When Ford awarded CEO Alan Mulally more than $50 million in compensation for 2010's record profit it raised eyebrows around Detroit. Now, the UAW is using that big payday as a rallying point for members as it starts negotiations to regain some of what autoworkers gave up in concessions during the downturn.
Ford CEO Alan Mulally and Executive Chairman Bill Ford, have been awarded $56.5 million and $42.4 million in stock, respectively, in recognition for the company's stunning turnaround, which resulted in the automaker raking in $6.6 billion last year -- its best performance in more than a decade.
Toyota is recalling another 22,000 trucks and sport-utility vehicles, this time so that it can repair faulty tire pressure monitoring systems. Vehicles affected by the recall include the Toyota FJ Cruiser, Land Cruiser, Sequoia, Tacoma and Tundra from the 2008 through 2011 model years.
Ford Motor is recalling nearly 32,000 recent-vintage pickup trucks and crossover vehicles in two separate actions to fix fuel leaks and electrical shorts that may lead to fires, according to a notice posted Wednesday on the National Highway Traffic Safety site.
It was a good month for auto sales despite inclement weather across much of the country and surging oil prices. Cars sold near an annual pace of 13 million vehicles. That would make February the best on record since the "cash for clunkers" rebate program in 2009.
Ford reported Tuesday that its sales in February rose 14% compared to a year ago, in part due to strong sales of the revamped Ford Explorer sports-utility vehicle, the Fusion midsized sedan and the Ford Escape compact SUV. Total sales for the month hit 156,626.
GM models sold smartly despite the steadily rising price of gas. GM says it sold 207,028 vehicles during the month. The increase was driven largely by a 70% jump in retail, or individual consumer, sales.
As in the summer of 2008, when prices broke $4 a gallon, big jumps at the gas pump may give car buyers reason to pause and cause vehicle sales to stall. At least the carmakers now have more fuel-efficient fleets, except for Chrysler, which is still catching up.
Ford is recalling 144,000 F-150 pickup trucks to repair airbags that may deploy without warning, a defect that has led to dozens of injuries, safety officials say. The federal government had pressed Ford to recall the pickups, but this recall isn't as broad as regulators wanted.
Faulty interior door handles may allow the doors to pop open during a crash. The recall involves F-150 pickups from the 2009-10 model years equipped with chrome interior door handles.
Union employees at Chrysler Group will receive a $750 bonus next week as an acknowledgment of their contributions in helping to revive the once-bankrupt company, the automaker said Monday. Salaried workers, excluding the company's top 50 executives, will also receive the payment.
At the North American International Auto Show in Detroit Tuesday, Ford and Chrysler both announced plans to introduce a host of new models. Ford will add seven vehicles with "truly unique Lincoln DNA" to its luxury line, while Chrysler has its eyes on new pickups, a revived Jeep Grand Wagoneer, and possibly, a 'mini-minivan.'
The economy may be less robust than most Americans would like, but that didn't stop many of them from hitting the showrooms in December. That likely propelled auto sales in the final month of 2010 to 1.13 million units, the year's highest levels.
Chrysler Group is recalling more than 144,000 Dodge and Ram vehicles in three separate actions, and Ford Motor is recalling about 15,000 trucks and sport-utility vehicles that may catch fire. These actions add to what's been a near-record for auto recalls.
2010 may be the year of the car recall, with the U.S.'s six-largest suppliers recalling more than 19 million vehicles over the last 12 months. Toyota, which recalled about 7 million cars this year, tops the list. General Motors, at about 4 million, came in second.
Chrysler Group is recalling 76,122 Ram trucks from the 2010 and 2011 models years to repair a problem with brake pedals that return too slowly after being depressed.
It's traditionally one of the slowest months of the year for vehicle sales, but most automakers reported higher U.S. sales in November compared to a year ago, despite continued consumer caution about the slow economic recovery.
Sales at Ford Motor rose 24% in November compared to a year ago as demand surged for a wide range of the company's products, the automaker said Wednesday. For the month, Ford said it moved 147,338 vehicles off dealers' lots, up from 118,536 in November 2009.
General Motors, fresh off its initial public offering, reported today that November sales rose 11.4% compared to the same month a year ago. Among its four core brands, Buick, Cadillac, GMC and Chevrolet, GM said sales rose nearly 21%.
Year-over-year gains are again likely when automakers report November U.S. sales figures Wednesday. But a drop from this October's level is on tap. Detroit probably fared better than its foreign counterparts as sales rebounded further from last year's anemic levels.
When Toyota Motor reports quarterly earnings tomorrow it will give investors the latest snapshot of how big a toll massive recalls and tepid auto sales are taking on the company's bottom line.
Buoyed by stronger demand for pickups and crossover, GM said today that October sales increased 3.5% compared to a year ago. Excluding its discontinued brands, sales of Buick, Cadillac, GMC and Chevrolet models rose 13% for the month.
Carmakers are expected to report a mixed picture for October sales: mostly better than a year ago, but down slightly from September. Still, the pace appears strong enough that the upper end of full-year forecasts is reachable.
Vehicle sales have been less than stellar in recent months, disappointing some analysts. But the industry is gradually improving in a broad trend that is benefiting nearly all automakers -- including the Big Three, which have returned from the brink.























