Factory Output Inches Up in May
U.S. factory output barely increased in May after two months of declines, a sign that manufacturing is providing little support for the economy.
automakers
Brake Woes Prompt Toyota to Recall 233,000 Prius Models
Toyota is recalling about 242,000 of its Prius and Lexus hybrid vehicles due to problems with their braking systems.
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.
U.S. Factory Output Sees Broad Decline in April
U.S. factories cut back sharply on production in April, as auto companies cranked out fewer cars and most other industries reduced output.
It's Electric! Tesla Motors Shifts Into Profitability
A business can’t have a much better week than Tesla Motors'. The electric car maker posted its first-ever quarterly profit and received Consumer Reports’ best-ever score.
Ray Irani, Billion-Dollar Oil Executive, Ousted
Ray Irani, 78 year-old chairman of Occidental Petroleum, sparked shareholder ire because he tried to oust the man who replaced him as CEO. Irani was forced to exit instead.
Facebook's Mobile Numbers Impress; GM Beats Street
A mixed bag from Facebook's earnings, but revenue from the all-important mobile sector was stronger than expected. GM's earnings fell from a year ago but still beat predictions.
Chrysler's 1Q Profit Tumbles 65% As It Readies New Models
Chrysler's first-quarter profit tumbled 65 percent as shipments of cars and trucks fell while it prepared to launch several key new vehicles.
Honda's Quarterly Profit Picks Up Despite Losses in China
Honda's fiscal fourth quarter profit rose nearly 6 percent as the Japanese automaker's recovery from floods in Thailand the previous year offset recent sales losses in China.
GM Boosts CEO Pay 44%; Gov't Still Owns 16.4% Stake
General Motors boosted Chairman and CEO Dan Akerson's pay package by 44 percent last year, as the value of his stock awards significantly increased.
Toyota Maintains Crown as World's Best-Selling Automaker
Toyota held onto its status as the world's top-selling automaker in the first quarter of this year, although the three-way race with GM and Volkswagen is proving tight.
Dish Network Bids $25.5 Billion for Sprint Nextel
This could be a big merger Monday: Dish Network is bidding to acquire Sprint Nextel, and Thermo Fisher Scientific has agreed to buy Life Technologies.
Japanese Automakers Recall 2 Million Cars For Defective Airbags
Four Japananese automakers recall more than 2 million vehicles worldwide for a problem with air bags that may burst, sending plastic pieces flying.
Chrysler Shares Could Soon Be On the Market Again
When Fiat CEO Sergio Marchionne took over Chrysler in 2009, it was considered a forgone conclusion that, eventually, he'd take the company public in an initial public offering. But now, Marchionne says the odds of an IPO are merely 50-50.
Hurricane Sandy Boosts Car Sales in November
The auto industry wins the silver lining award from the affects of Hurricane Sandy: November car sales jumped 15 percent on strong demand from people replacing cars destroyed by the storm, Americans feeling more confident in the economy, and an easier access to credit.
Automakers Drive U.S. Factory Output Higher in April
U.S. factory output increased in April, helped by a gain in auto production. Busier factories have driven stronger hiring this year and helped the economy grow. The Federal Reserve said Wednesday that factory production rose 0.6% in April, erasing a 0.5% decline in March.
Car Wars: Why GM's a Better Buy Than Ford
It's an obvious, inevitable question: GM or Ford? On one view, Ford -- with its solid line of hit products and bailout-free balance sheet -- is the fiscally responsible choice. But the company known until recently as "Government Motors," trading right now in the low $20 range, is turning itself around and qualifies not only as a buy, but a steal.
Car Prices Jump As Japanese Shortages Grow
Car prices have risen quickly and quietly in the last few weeks. According to auto industry research firm Edmunds, the average amount buyers are paying for cars or light trucks is up $350 since Japan's earthquake and tsunami in March -- and the price of Japanese vehicles is up even more.
UAW Head Uses Ford CEO's Big Payday to Rally Union
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.
UAW Readies for Key Contract Talks
UAW delegates will gather next week in Detroit, as the union works out a strategy to negotiate with domestic automakers for a new four-year contract. The current pact expires in September, and with auto sales rebounding the UAW is eager to win back some concessions.
Toyota to Keep Japanese Plants Idle Into Next Week
The Japanese automaker has extended its halt on vehicle production at its plants in Japan through March 22, as the country continues to reel from the devastation of last week's massive 9.0 earthquake and ensuing tsunami.
Resurgent Ford Awards Top Two Execs $99 Million in Stock
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.
Chrysler Recalls 250,000 Minivans, Crossovers to Fix Engine Stalling
Chrysler is recalling nearly half a million popular minivan and crossover models because the engines may unexpectedly turn off while driving, increasing the risk for a crash.
Ford Recalls 32,000 Vehicles to Fix Fuel Leaks, Electrical Shorts
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.
February's Sales Put Carmakers in the Fast Lane
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's Sales Climb 14% on Explorers, Fuel-Efficient Models
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's February Gain Outpaced Forecasts
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.
February Auto Sales Likely Kept Zipping Along
Major automakers are set to release February sales figures on Tuesday, and analysts expect the reports will show sales improved 20% compared to a year ago. Consumers continued to warm to the slowly improving economy -- so far, despite surging oil prices.
Just What Detroit's Revival Doesn't Need Now
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.