But gov't risks big job losses if Big Three fail
New York Times Nov 17, 08 9:50 AM CST
(Newser)
-
If Detroit’s “Big Three” do collapse, foreign-owned automakers would be able to pick up the slack, industry experts tell the New York Times. These foreign giants have a big enough US presence to swiftly take over the industry and its supplier network, but the transition would likely be painful, with hundreds of thousands losing their jobs.
More »
Asian brands add market share amid sales freefall
Bloomberg Nov 3, 08 10:43 PM CST
(Newser)
-
US auto sales dived in October to levels not seen since 1983, Bloomberg reports. GM, Ford, and Chrysler saw sales drop 45%, 30%, and 36% respectively as credit dried up and consumer confidence plummeted. Toyota, Honda, and Nissan all saw sales fall over 20%, but managed to gain market share from their US counterparts. Toyota's 23% drop came despite a 0% finance program.
More »
Indexes rise after Wall St. rally and rate cut hopes, but fall on weak earnings reports
MarketWatch Oct 29, 08 1:44 AM CDT
(Newser)
-
Markets across Asia rebounded today following a huge Wall Street rally and hopes of a drop in interest rates, but failed to hold on to some of their biggest gains as investors hedged against weak earnings reports from heavy hitters such as Panasonic and Sony, MarketWatch reports. Meanwhile, the Japanese yen retreated against global currencies on news of the potential rate cut.
More »
Trading down to save money on gas results in higher premiums
Wall Street Journal Oct 23, 08 11:07 AM CDT
(Newser)
-
Think you’re saving money by driving that small, fuel-efficient car you traded in your SUV for? Maybe, but you’re probably paying more for your insurance—a lot more, reports the Wall Street Journal . In accidents, small cars tend to sustain more damage, and occupants more injures, than larger vehicles. Hence a Honda Civic, for example, incurs higher premiums than the company’s larger SUV CR-V.
More »
As public turns from SUVs, automakers jack up prices on compacts
USA Today Sep 3, 08 10:57 AM CDT
(Newser)
-
With sales of SUVs and trucks dwindling, car companies have begun to push smaller, more fuel-efficient models—but not for the same small prices. Without the $10,000 profit that was typical on SUVs, automakers can no longer sell cars like the Ford Focus for an average profit of $100. Some are using extras to lure higher-spending customers.
More »
earnings
The gas tank is half empty, as the company cuts global outlook
Wall Street Journal Jul 25, 08 7:33 AM CDT
(Newser)
-
Honda announced an 8.1% gain in net profit yesterday for the quarter ending June 30, riding demand for its fuel-efficient models and beating analysts’ estimates, the Wall Street Journal reports. Honda has been hurt less by falling demand than rivals Toyota and Nissan because it's the least invested in truck and SUV lines. "Honda is better positioned than anyone else in the industry," one analyst tells the Journal.
More »
11.5% June drop in US sales blamed on low inventory of popular small models
Reuters Jul 2, 08 4:53 PM CDT
(Newser)
-
Popularity is proving quite the pickle for Toyota: Dwindling supplies of hot sellers like its hybrid Prius fueled the 11.5% drop in US sales last month, Reuters reports. With a waiting list 6 months long, Prius sales fell 26%—even as rival Honda bumped its sales 13.8% thanks to record demand for its fuel-efficient Fit and Civic vehicles.
More »
21.4% drop keeps Toyota from No. 1; Honda manages gain
Detroit News Jul 1, 08 2:40 PM CDT
(Newser)
-
Sales for General Motors, Ford and Toyota all fell by double-digit percentages in June compared to the same month last year, while Honda managed an 11% gain, the Detroit News reports—with GM holding off Toyota as top US seller. In general, consumers passed over big, fuel-guzzling vehicles and luxury sedans for smaller, fuel-efficient models.
More »
Carmakers building plants in India, Africa, and Russia as traditional markets slow
New York Times Jun 26, 08 7:50 AM CDT
(Newser)
-
Japan’s automakers, traditionally focused on North America and near-home markets, are expanding aggressively into new territories as opportunities shift to Africa, India, and the former Soviet Union, reports the New York Times. One analyst said 76% of the global growth of the Big Three—Toyota, Honda, and Nissan—in the next 6 years will come from expanding markets that “used to be an afterthought.”
More »
Emission-free FCX Clarity runs on hydrogen and water
BBC Jun 16, 08 9:42 AM CDT
(Newser)
-
Honda has begun commercial production on the FCX Clarity, an emissions-free car that runs entirely on hydrogen and electricity, the BBC reports. Honda only plans to produce 200 models over the next 3 years, however, expecting the scarcity of hydrogen fueling stations to dampen demand. “In the next few years, we are not going to do without (gas) and diesel motors, but the future belongs to the electric car,” said an auto exec.
More »
Zero-emissions hydrogen cars hit the streets of Hollywood
Los Angeles Times Jun 14, 08 3:00 PM CDT
(Newser)
-
Hydrogen cars are the latest Hollywood must-have, and automakers are more than happy to see stars behind the wheel, the LA Times reports. The vehicles—which emit nothing but water—instantly speed celebrities to first place in the game of green one-upmanship. They are still years away from going on sale to the public.
More »
ANALYSIS
Demand rising for electric alternatives, so makers, legislators must seize moment
Wall Street Journal Jun 9, 08 12:25 PM CDT
(Newser)
-
Sky-high gas prices are finally pushing top US auto-makers to turn out fuel-efficient vehicles, and both Detroit and Washington should keep the pedal down to make a permanent change in how, and what, Americans drive, the US top car salesman tells the Wall Street Journal . "You have to tell the American people the truth," the CEO of AutoNation says. "Energy costs will be higher."
More »
Even in SUVs, Americans opt for smaller engines to conserve on gas
Los Angeles Times May 31, 08 2:39 PM CDT
(Newser)
-
Instead of saving on gas by getting smaller cars, many Americans are buying cars with smaller engines. Four-cylinder autos have been zooming off lots nationwide, leaving six-cylinder rides in the dust: Three quarters of mid-size cars sold in May sported the smaller engine, a swerve away from a trend in ever-bigger motors, the Los Angeles Times reports.
More »