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GM, Ford and Chrysler post best U.S. sales since 2007
General Motors (NYSE: GM – news) , Ford (NYSE: F – news) and Chrysler (Xetra: 710000 – news) reported their best US sales performances since 2007 on Tuesday amid booming overall auto demand following the US industry’s near-collapse five years ago. Total (NYSE: TOT – news) industry sales rose 3.4…
Auto union calls on Chrysler to go public
An auto union pension fund has moved to push Chrysler to go public so that the fund can sell its shares in the automaker on the open market, Chrysler said Wednesday. The number three US automaker said the UAW Retiree Medical Benefits Trust, which holds 16.6 percent of Chrysler shares,…
Jon Stewart: Even car salesmen concerned with Romney’s dishonesty
On his show Thursday night, Jon Stewart of The Daily Show mocked Republican presidential candidate Mitt Romney over his misleading advertisement about Jeep. The ad, which was aired in the swing state Ohio, ominously warned that because of Obama, Chrysler was now owned by Italians “who are going to build…
Chrysler chief slams Romney for ‘inaccurate’ Jeep ad
DETROIT, Michigan — Chrysler’s chief on Tuesday joined a chorus of critics slamming Mitt Romney for an ad that implies Jeep is shipping American jobs to China as a result of President Barack Obama’s policies. The ad is airing in the critical battleground of Ohio, where one in eight jobs…
Chrysler nearly doubles profit in third quarter
CHICAGO — Chrysler nearly doubled its profit in the third quarter as an improving economy and fresh models drew more consumers into its showrooms, the third largest US automaker said Monday. Net income jumped 80 percent to $381 million as revenues rose 18 percent to $15.5 billion in the July…
Obama showcases auto industry bailout
US President Barack Obama on Saturday praised the decision early in his administration to bail out the failing US automobile industry, arguing it has now become a leading job creator. “Today, auto sales are the highest they’ve been in more than four years,” Obama said in his weekly radio and…
Chrysler chief confident about U.S. but not Europe
The US economy continues to demonstrate underlying strength and contains the seeds of future growth for the auto industry, Chrysler’s top executive Sergio Marchionne said Friday. But he blamed German officials for impeding a rationalization of the industry in Europe that could bring it back to health. During presidential elections,…
Big Three automakers score solid sales in June
DETROIT, Michigan — The Big Three US automakers reported strong domestic sales for June Tuesday, capping a solid first half of the year even as US economic growth overall remained weak. Despite economic headwinds, Chrysler and General Motors both posted double-digit increases in US sales last month, while Ford grew…
Detroit automakers rack up strong 2011 gains
CHICAGO — The Detroit Three automakers posted solid December US sales Wednesday, driving a strong 2011 performance and expectations for even better results this year as the industry slowly climbs out of a deep downturn. “It’s now clear that auto sales should continue to grow in 2012 barring a shock…
I’m Still Not Buying A Pontiac
Okay, suppose we do exactly what every conservative wants and we union-bust the Big Three, match their wages and benefits exactly to foreign producers set up in the states, dismantle the currently existing pension system and even (most likely) cut labor overall. At what point did any of those workers…
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