BMW Global Sales Gain Tops German Competitors in November
BMW Global Sales Gain Tops German Competitors in November
Mazda Motor is not seeking a new alliance with another auto manufacturer following Ford's recent decision to reduce its stake in the Japanese automaker.
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 Sales Climb xx% in November
Will the Chevy Volt -- General Motor's new plug-in hybrid, which was unveiled today -- be a game changer, as CEO Daniel Akerson hopes? We'll soon find out as the car is scheduled to begin shipping to dealers next month.
Rising confidence among U.S. consumers is expected to translate into healthier numbers for the nation's automakers when they report November sales figures Wednesday. Domestic automakers fared better than their foreign counterparts as sales rebounded further from last year's anemic levels, according to analysts.
Ford, which expects 70% of its sales growth to come from Asian-Pacific and African markets in the next decade, plans to open 100 dealerships in China this year.
Toyota is asking a federal court in California to dismiss lawsuits claiming that electronics -- not floor mats or sticky gas pedals -- are the cause of unintended acceleration in its vehicles, saying plaintiffs have not proved there's a design defect in the vehicles' electronic systems.
Following General Motors' historic return as a publicly traded company Thursday, President Obama said the U.S. government, despite the many critics, is on track to more than recoup the nearly $50 billion it invested in the Detroit automaker.
Considering where the iconic carmaker has been in recent years, the pending IPO -- and robust investor demand for shares -- is a remarkably positive step. But GM still has plenty of problem spots that will need fixing if this historic event is to have lasting meaning.
General Motors may raise its price range and offer more shares than previously expected in its initial public offering Thursday.
The automaker plans to roll out its first all-electric passenger car in 20 U.S. cities late next year.
Goldman Sachs Group won't stop taking orders for General Motor's initial public offering at noon Friday, the investment banker now says, despite an email sent by the bank to clients on Thursday that said it would, Dow Jones Newswires reports.
General Electric plans to purchase 25,000 battery-powered vehicles during the next five years for its own use and to lease to commercial customers.
General Motors reported Wednesday that it earned $2 billion in the third quarter, marking its most profitable quarter yet since emerging from bankruptcy last year.
After reporting a $4.3 billion loss during the last half of 2009, General Motors saw two positive quarters during the first half of the the year and is expected to report a third profitable quarter Wednesday.
Stock in Ford hit levels not seen since the summer of 2004 Thursday, a day after the Dearborn, Mich., automaker reported solid sales for the month of October. The stock rose as much as 4.3% to $15.83 a share in morning trading on Wall Street.
Buoyed by consumers' increased confidence in the U.S. economy, automakers with few exceptions reported higher sales of cars and trucks in the U.S. during October compared to a year ago.
GM said Wednesday its overall sales in October rose modestly on higher demand for pickup trucks and crossover vehicles.
=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.
Automakers on Wednesday are expected to report a mixed picture for October: mostly better than a year ago, but down slightly from September. Still, the pace appears strong enough that the upper end of full-year sales forecasts of 11.5 million to 12 million units is reachable.
The Detroit automaker said it will repay $2.8 billion it owes to the United Auto Workers retiree health care trust, buy back $2.1 billion in common stock held by the federal government and make a contribution valued at $6 billion to its pension plans.
General Motors plans to invest $190 million in its Lansing Grand River assembly plant where it will build a new Cadillac model, resulting in 600 new jobs and the addition of a second shift.
Chrysler Group reportedly is planning to build a small car capable of 40 mpg based on a current Fiat design in a bid to boost its corporate fuel economy average.
In addition to state tax credits from Michigan -- and the billions of dollars already loaned it by U.S. taxpayers in the form of last year's bailout -- Chrysler may soon get approval for billions more in loans from the Department of Energy.
Although Honda and Toyota remain the benchmark of reliability in the U.S. automobile industry, General Motors has made considerable strides in improving the quality of its cars and trucks, according to the magazine's 2010 Annual New Car Reliability Survey.
Ford, General Motors and Chrysler have been granted a combined $2.1 billion in tax breaks to invest in 17 new projects in Michigan, the state's economic development agency said Tuesday.
BMW's North America unit is recalling about 150,000 cars and sports-utility vehicles in two separate actions to fix faulty fuel pumps that could cause the vehicles to lose power, the German automaker said Tuesday.
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