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November 2008
- GM Sales Off 45% as US Auto Sales Hit 25-Year Low
  
  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 »
- SUV, Pickup Sales Rebound as Price of Gas Drops
  
  Wall Street Journal | Nov 3, 08 9:08 AM CST
  
  (Newser) - Gas prices are down and the sales of SUVs and pickup trucks are accelerating, albeit only into second gear, reports the Wall Street Journal. As gas edges closer to $2, buyers are picking up bargains on the big gas guzzlers dealers couldn’t give away couple of months ago. And desperate manufacturers still are offering huge discounts on leftover 2008s. More »
October 2008
- Car Dealers Write Off Domestic Franchises
  
  Wall Street Journal | Oct 29, 08 6:36 AM CDT
  
  (Newser) - Two of the largest chains of car dealers report that their domestic auto franchises have become virtually worthless, the Wall Street Journal writes. The companies took a a combined $51 million in writedowns for the third quarter, reflecting disappearing "franchise value"—the measure of potential profit—for dealerships that sell brands from GM, Ford, and Chrysler. More »
- Bankruptcy Looms if GM, Chrysler Don't Get Cash
  
  Wall Street Journal | Oct 27, 08 8:12 AM CDT
  
  (Newser) - GM and Chrysler are both on track to run out of cash before the end of 2009 if a merger or major government intervention doesn’t occur, analysts tell the Wall Street Journal . With credit markets choked and rapidly diminishing reserves, experts say bankruptcy, which would carry massive consequences for the industry and economy as a whole, could be unavoidable. More »
- Top Cars We Should Scrap
  
  US News & World Report | Oct 26, 08 4:59 AM CDT
  
  (Newser) - The possibility that one of Detroit's Big Three automakers is headed for the scrap heap left US News and World Report wondering which cars Americans could live without. Here are some top candidates: Jeep Commander: This boxy model gets 16 mpg and it shows: sales are down 55%. Dodge Durango: Even the hybrid version of this SUV hasn't stopped sales from falling an astonishing 54%. More »
- Toyota Offers Interest-Free Car Loans
  
  Wall Street Journal | Oct 17, 08 4:01 AM CDT
  
  (Newser) - Toyota is moving aggressively to fight slowing sales with a $250-million advertising campaign that offers zero-percent financing on 11 vehicles. The Japanese auto giant is flush with billions of dollars in cash and plans to use it to boost its market share, just as Ford, GM and Chrysler are at their weakest, reports the Wall Street Journal. More »
- Ford Put Brakes on GM Merger Talks
  
  Wall Street Journal | Oct 11, 08 5:34 PM CDT
  
  (Newser) - Ford rejected merger overtures from GM earlier this year and decided to ride out its financial issues alone, the Wall Street Journal reports. The GM-Ford talks were “very loose and preliminary, more exploratory in nature than anything else,” a source said. Both companies have denied bankruptcy rumors, but credit rating agencies and analysts have raised concerns about their high rate of spending. More »
- Ford CFO Says He'll Step Down
  
  Detroit Free Press | Oct 10, 08 12:41 PM CDT
  
  (Newser) - Ford CFO Don Leclair will retire at the end of the month after 32 years with the company, the struggling automaker said today. Leclair has drawn praise for snagging $25 billion in loans for the company before the credit markets dried up, a move that may ensure Ford’s survival through the crunch, the Detroit Free Press reports. Ford of Europe exec Lewis Booth will replace Leclair. More »
September 2008
- Bush OKs $25B for Car Giants
  
  Wall Street Journal | Sep 30, 08 7:26 PM CDT
  
  (Newser) - President Bush today approved the $25 billion in low-interest loans aimed at helping US automakers in their transition to building more fuel-efficient vehicles, the Wall Street Journal reports. The industry long pushed for the package, estimating the total cost of the makeover at $100 billion. It’s now up the Energy Department to set eligibility guidelines, with lawmakers hoping funds can be available by mid-2009. More »
- House OKs $25B Detroit Rescue
  
  Detroit Free Press | Sep 25, 08 3:29 AM CDT
  
  (Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers cheered the news, saying it would save thousands of jobs. More »
- Auto Giants Press Congress for $25B Loan
  
  Detroit Free Press | Sep 18, 08 9:43 AM CDT
  
  (Newser) - The CEOs of US auto giants seem to have convinced some in Congress they, too, need billions in federal loans, the Detroit Free Press reports, though it’s uncertain if they’ll get the $25 billion they’re asking for. High oil and commodity prices and tightened credit threaten jobs in an already ailing industry, the heads of General Motors, Ford, and Chrysler told lawmakers yesterday. More »
- US Can't Have Ford's 65-MPG Car
  
  BusinessWeek | Sep 6, 08 1:34 PM CDT
  
  (Newser) - Ford may be best-known for its fuel-guzzling trucks and SUVs, but this November it’s releasing the Fiesta ECOnetic, a sporty subcompact that gets an astonishing 65 miles-per-gallon, BusinessWeek reports. There’s just one catch: It’s not being sold in the US. “We know it’s an awesome vehicle,” says Ford’s president. “But there are business reasons why we can’t sell it.” The biggie: It runs on diesel. More »
- Sales Skid Again for GM, Ford, Toyota
  
  Bloomberg | Sep 3, 08 3:10 PM CDT
  
  (Newser) - General Motors, Ford and Toyota reported dramatic declines in sales for August stemming from the weak US economy and record gas prices, Bloomberg reports. Ford's domestic sales plunged 27% and GM's 20%, and both automakers will cut second-half production by the tens of thousands. Toyota fared better, down just 9.4%, though all saw large declines in the sales of SUVs. More »
- Small Cars Carry Big Price Tags
  
  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 »
July 2008
- GM, Ford Join Chrysler in Retreat From Leasing
  
  Wall Street Journal | Jul 30, 08 8:00 AM CDT
  
  (Newser) - Ford and GM are joining Chrysler in moving away from auto leasing, the Wall Street Journal reports, signalling the end of an era in which leases allowed many Americans to drive more expensive cars than they could afford to buy. The move is prompted by falling prices for used SUVs and trucks, which has led to steep losses for the automakers when they resell the vehicles at the end of the lease period. More »
- Ford Posts $8.7B Loss, Will Make Fewer Trucks
  
  Associated Press | Jul 24, 08 9:08 AM CDT
  
  (AP) - Ford Motor Co. lost $8.67 billion in the second quarter and will retool two more North American truck and SUV plants to build small, fuel-efficient vehicles, the company announced today. The net loss includes $8.03 billion in writedowns due to a decline in the value of its truck and SUV inventory, as well as Ford Motor Credit Co.'s truck-heavy lease portfolio. More »
- In Need of Big Ideas, Ford Thinks Small
  
  Wall Street Journal | Jul 19, 08 4:28 PM CDT
  
  (Newser) - Ford Motor Company will be repurposing some of its US plants to manufacture smaller, more fuel-efficient cars, the Wall Street Journal reports. As rising gas prices drive falling sales of behemoths like the F-150, insiders say the company will move toward making more of the passenger cars, like the Mondeo, that are mainly sold in Europe. More »
- US Auto Sales Off Big, But GM Holds Top Spot
  
  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 »
June 2008
- Obama Meets With Top Automakers Amid Tension
  
  Wall Street Journal | Jun 26, 08 1:07 PM CDT
  
  (Newser) - Barack Obama is meeting with two of the Big Three in encounters the Wall Street Journal says “could thaw festering tension” between the Dem and America’s automakers. A year after Obama criticized the companies for fighting fuel-economy standards and rewarding “failure with lucrative bonuses for CEOs,” he met with Ford’s chief yesterday in a summit the businessman called “productive.” More »
- What's Hot? Some Guzzlers Among the Sippers
  
  Wall Street Journal | Jun 25, 08 10:03 AM CDT
  
  (Newser) - Soaring gas prices have predictably driven sales of gas-sipping vehicles such as Honda’s Fit and Toyota’s Scion xB, which have seen increases of 64% and 59% respectively, reports the Wall Street Journal. But guzzlers such as Toyota's Sequoia and Tundra are also selling surprisingly well (29% and 8.5%, respectively). More »