Toyota's recent recall woes may have pushed its U.S. sales lower during the past year, but they haven't stopped one popular model from setting a new milestone: The fuel-efficient Toyota Prius hybrid recently surpassed 1 million sales in the U.S.
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.
A software glitch in certain Buick Lacrosse sedans and Cadillac SRX crossovers could decrease a driver's visibility in fog or ice, prompting GM to recall 10,000 of the vehicles.
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.
And that means it may be time for owners of gas-thirsty SUVs and cars to start considering the switch so many Americans are loath to make: to a far more fuel-efficient vehicle. Looking out over the next several years, it's hard to see oil -- and gasoline -- falling back to earlier lows.
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 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.
Asian automakers have traditionally fared well in tests conducted by Consumer Reports magazine, and this year is no exception. Overall, eight Japanese and Korean models were named "best values" in their segments, the publication said Monday.
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.
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.
Or will it disappoint? Investors -- and taxpayers -- will be watching on Thursday, when GM posts its latest earnings. Despite analyst expectations of a full-year profit, the automaker has warned that fourth-quarter results will fall "significantly" from previous periods.
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.
Less than two years after they exited bankruptcy, Chrysler Group and General Motors will soon distribute bonuses to salaried employees in recognition of their efforts to help revive the once-flagging Detroit automakers. The payout is likely to anger the companies' unionized workers.
The Japanese automaker's bottom line is likely to have been hit by its many safety recalls, weaker U.S. sales and Japan's rising currency. Analysts forecast Toyota will report a quarterly profit of about $1 billion on sales of $56.2 billion.
The world's largest automaker is looking to reduce managerial staff at its sales headquarters in Torrance, Calif., by offering workers a buyout.
General Motors sales rose 21.8% in January compared to a year ago on strong sales across its lines of passenger cars, "crossover" vehicles and trucks, the automaker said Tuesday. Each of the automaker's four divisions recorded higher sales for the month.
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.
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.
Analysts forecast that Ford will announce a profit of 48 cents a share on revenue of about $30.6 billion when it releases earnings on Friday. That translates into an expected pretax profit of $8 billion in 2010, the best Ford has seen since 1999.
Toyota's recall troubles seem never-ending. Just a few months after the car company's last recall, it has found defects involving the fueling systems of a variety of Lexus models. This won't help the company's beleaguered reputation.
Last year's massive recalls -- and the resulting legal fallout -- have given Toyota's reputation a beating, cutting into its sales. But the company can't blame all of its problems on the recalls. Analysts also point to another issue: A lack of compelling new models.
Toyota managed to hold onto the title of world's No. 1 automaker last year, despite numerous safety recalls that took a toll on its sales. Toyota sold 8.42 million vehicles worldwide in 2010, enough to barely edge out resurgent General Motors, which rang up sales of 8.39 million.
With U.S. automotive dominance waning, a new moniker has emerged: the "Detroit Three." Still, don't count out Ford, GM or Chrysler. Their post-recession future looks strong, thanks to some agonizing restructuring. Now, they can be profitable selling fewer cars.
Chrysler has finally decided to jump on the hybrid bandwagon, announcing Wednesday that it is working with the EPA to develop a hydraulic hybrid powertrain for its vehicles. The system, which stores energy derived from vehicle braking as pressure, could improve fuel economy by 30% to 35%.
Ford will spend $400 million to upgrade its Kansas City, Mo., plant after production of the current Ford Escape compact SUV moves to another facility. It's the fourth North American plant that Ford has overhauled or plans to as it seeks to reinvigorate its vehicle lineup.
The smallest of the Detroit Three, Chrysler has made substantial strides in turning around its business, including lowering the number of vehicles it needs to sell to make a profit. The automaker had pegged 1.65 million as its operating break-even point, but has just lowered this to about 1.5 million vehicles.