automaker
Wall Street Ups Bet Against Ford's Stock
Ford has had been nothing but full of good news lately: it recently reported a sharp rise in net income to $2.6 billion and it said that it would maintain its market share in the U.S. America for the balance of the year. So why is Wall Street pessimistic on the stock?
Mazda Earnings Slide to a Loss on Strong Yen and Weak Sales
Mazda Motors posted a quarterly loss for October through December, down from a profit for the same period last year. The loss comes in spite of slightly higher revenue. The stronger yen and weak demand cut into the company's income.
2010 Likely Busiest Year for Auto Recalls in Seven Years
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.
Trucks and SUVs Should Fuel November Auto Sales
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.
Bond Conversion Plan Cuts Ford's Debt by $1.9 Billion
Ford Motor announced Wednesday that it had reduced its debt by $1.9 billion after note-holders converted their debt into 274 million shares of common stock. The automaker's annual interest expenses will be reduced by $180 million because of the lower debt.
General Motors May Raise Its IPO Price
GM reportedly plans to raise the price range on its pending initial public of stock to as much as $33 a share. The increase to $31 to $33 a share from the initial $26 to $29 a share is being prompted by strong demand for the stock.
Toyota Wants Lawsuits Thrown Out
Toyota has asked a federal court to dismiss lawsuits seeking damages related to the recall of millions of vehicles for possible unintended acceleration. The automaker has a simple argument: No one has ever demonstrated what is wrong with Toyota's cars, if anything.
Ford Sales Surge 46% in September
Ford Motor (F) reported higher sales in September on strong demand for fresh models, as sales rose 46% compared to September 2009, the company said Friday.
GM Sales Jump 10.5% in September
General Motors reported Friday that overall vehicle sales in September 2010 climbed 10.5% on a year-over-year basis, based on strong demand for its new generation of crossover vehicles. Among its four core brands, GM sales rose 22%.
Feds Probe Reports of Mini Cooper Steering Problems
Mini Cooper cars are known for their quick, precise handling, but some owners have complained of steering problems that may lead to a crash, prompting a federal investigation.
GM's New CEO Daniel Akerson to Get $9 Million Pay Package
Akerson, who assumed the post Sept. 1, will also receive a portion of his salary in the form of stock, totaling $5.3 million, which will be paid out over three years beginning September 2011.
GM Pins Big Hopes on New Chevy Cruze
The thrifty new small car replaces the underwhelming Chevy Cobalt, a model that had a hard time competing with the likes of Toyota's Corolla and Ford's Focus, new versions of which are due in coming months. A manual transmission model will have a 40-mpg highway rating.
