Buying a new car can be a stressful experience: The process is expressly designed by car dealers to separate you from as much of your money as possible. However, if you're patient, prepared, and persistent, you can beat the dealers at their own game.
Chrysler's IPO may be delayed, according to CEO Sergio Marchionne. He claims the decision will be based on the cash needs of the company and payments to the UAW healthcare trust. But is it really a sign of larger problems in the industry?
New car buyers may go on strike -- again. Faced with the rising cost of fuel and parts shortages that could drive up new car prices and make some popular models scarce, consumers in the market for a new car may decide to delay purchases or turn to used cars.
The first trading day of the month is usually good to equities, but after a two-day respite, stocks went back back to broad-based declines. The sharp rise in oil prices overshadowed some encouraging corporate and economic news.
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.
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.
Despite tepid industry sales last year, South Korean carmaker Hyundai set a sales record, thanks to savvy designs and sophisticated engineering. It's come a long way from an early econo-box image. Now, if it could just do as well at home.
A slowly brightening economy combined with low financing rates and generally stable fuel prices have put consumers in a buying mood. New models, particularly from Ford and GM, are also helping to keep U.S. auto sales on a positive trajectory as 2011 starts.
Back in 2009, General Motors applied to the Department of Energy for $14.4 billion in loans to help it manufacture more fuel-efficient vehicles. Today, with the automaker making big strides in turning around its business, GM said it no longer needs or wants the money.
The nation's second-largest automaker reported a healthy year-over-year sales increase that was led by strong demand for the Edge crossover and the F-Series pickups. Overall, Ford enjoyed its best month of retail sales in 2010.
It's still hard to diagnose how the overall economy will fare in 2011. But the signs for at least one area all seem to be pointing up: car sales. Analysts predict the number of vehicles sold next year will rise 10% to 23% above that of 2010.
Toyota plans to rev up its vehicle production in the U.S., despite November's 7.3% drop in U.S. sales. The automaker has hired the first of an expected 2,000 workers for a new Mississippi Corolla plant, and says it expects to boost overall capacity utilization significantly from last year's weak levels.
After the long downturn, the coming year will be an opportunity for many industries to rejuvenate themselves. Independent researcher IBISWorld sorted through data on 711 U.S.-based industries to come up with these predictions of the 10 best.
BMW saw its sales jump 20% in November, driven by growth in Germany, China and the U.S. The German automaker sold more cars than the Mercedes-Benz or Audi brands. Its sales growth for the year so far also is outpacing that of its rivals.
If you've been rejected for a car loan due to poor credit, you might want to apply again. The automotive credit industry increased the share of new car loans going to credit-challenged borrowers by 12.7% in the third quarter, a sign that lenders are loosening their credit criteria.
For the ninth year in a row, nurses topped the list of professions that Americans consider the most ethical, according to a new Gallup poll released Friday. Who do Americans trust least? Car salesman and members of Congress.
As growth slows in the U.S. and other major markets, Ford Motors is turning to emerging markets like China, where it plans to add 100 new dealerships this year. In the first 10 months of this year, Chinese sales of passenger cars grew 36% from last year.
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.
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 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.
Demand for new cars and trucks should be better than it was a year ago. But expectations now are for lower sales than in August, itself unimpressive. That would leave autos stuck in a four-month-long rut.
U.S. auto sales started off strong over the Labor Day holiday weekend, but have since dropped significantly, according to analysis by car-buying guide Edmunds.com.
John Fleming, head of Ford's global manufacturing in London, on Thursday says the company sees the economy improving, but calls the strength of the recovery "uneven." He said demand could rise by as much as 10%.
GM reported Wednesday that sales fell 25% year-over-year in August as the recovery appeared to stall and cautious consumers held back on buying cars. But despite the downturn, GM officials said they remain upbeat that the hard-hit auto industry will continue to improve in the months ahead.
In late September, Korean automaker Hyundai will begin building its popular Santa Fe SUV at a Kia plant in West Point, Ga., where its sister company makes the Kia Sorrento SUV. The move is expected to boost the number of workers associated with the plant from 1,900 to 7,000.
Auto sales braked sharply in August, starting out strong, then slowing to a level that may be the lowest in 28 years. The weak economy made nervous consumers hesitant to buy, despite the bevy of end-of-model-year deals.
July was a mixed bag for auto sales, with sales improving, but not as much as the abundance of incentives for would-be car buyers led industry watchers to expect. But if August car sales continue on track, it may be the best month of 2010 so far, Edmunds.com reports.
