U.S. auto sales are expected to have dipped slightly in October, as stepped-up incentive spending by automakers could not totally offset the drag from continued turmoil in the U.S. housing market, analysts said.
Contract talks between Ford Motor Co and the United Auto Workers union broke off in the early hours of Wednesday morning after a marathon session that began Tuesday morning, a source familiar with the talks said.
Oil refiner Tesoro Corp. said it would review an unsolicited proposal by Kirk Kerkorian's Tracinda Corp. to buy a minority stake in the company for about $1.4 billion, but urged shareholders to take no action on the offer.
Workers represented by the United Auto Workers ratified a four-year contract with automaker Chrysler LLC, the union said on Saturday, capping a close-fought battle that had threatened to scuttle the labor pact.
Workers represented by the United Auto Workers voted to ratify a four-year contract with automaker Chrysler LLC, the union announced on Saturday, capping a close-fought ratification battle that had threatened to scuttle the labor pact.
Ratification of the tentative labor contract between the United Auto Workers union and Chrysler LLC was thrown into jeopardy on Monday after workers at four of the eight assembly plants that must vote on the deal rejected it. The strong opposition to the Chrysler deal marks a setback for leadership of the UAW, which reached a tentative agreement with Chrysler on October 10 after a six-hour strike.
United Auto Workers members at a major Chrysler LLC assembly plant in St. Louis have overwhelmingly rejected a proposed contract with Chrysler, delivering a setback to union leadership in early voting on the four-year deal.
Ford Motor Co, considered the weakest of the three U.S.-based automakers, could agree on a new contract with the United Auto Workers union fairly quickly and without the strikes that marked negotiations with General Motors Corp and Chrysler LLC, analysts said on Thursday.
Workers represented by the United Auto Workers union walked out on strike on two plants operated by Chrysler LLC, while another of the automaker's key assembly plants was told to remain on hold.
Chrysler LLC and the United Auto Workers union were negotiating a new labor agreement on Wednesday hours before a union-imposed strike deadline.
The United Auto Workers union and automaker Chrysler LLC remained locked in contract talks on Wednesday morning just hours before a strike deadline set by the union that could trigger the industry's second major work stoppage in as many weeks.
With just over a day remaining until a strike deadline, representatives of the United Auto Workers union and Chrysler LLC bargained into Tuesday morning in a bid to reach a new contract for some 49,000 U.S. factory workers.
Negotiators from Chrysler LLC and the United Auto Workers were set to resume contract talks on Monday after the union set a deadline for wrapping up negotiations this week. The struggling No. 3 U.S. automaker has been given a 72-hour strike notice by the UAW as they negotiate a new labor agreement, a person familiar with the talks said on Monday.
General Motors Corp gained ground against rivals in September with a 4 percent U.S. sales increase while Ford Motor Co sales plunged 18 percent and Toyota Motor Corp sales were off 1 percent for a third monthly decline. Overall, sales steadied in September, bucking Wall Street expectations for a decline.
Hedge fund Appaloosa Management LP said in a U.S. regulatory filing on Tuesday that its offer for bankrupt auto parts supplier Dana Corp could be conditioned on there not being a strike at any of the major U.S. automakers.
Four firms remain in the race to buy Ford's European luxury brands Jaguar and Land Rover after India's Mahindra & Mahindra and vulture fund Cerberus pulled out, people familiar with the matter said on Monday.
Carmakers wasted no time trying to show off their new-found green credentials -- as well as their glittering profits -- at the start of the Frankfurt International Motor Show (IAA) on Tuesday.
Chrysler has lured another high-profile executive, this time from Asia, into its ranks on Friday, following a similar move a day earlier as the company seeks to revive its struggling operations.
Chrysler added Toyota's top American executive to its ranks on Thursday, hiring James Press as its new vice-Chairman and President in a bid to steer the newly private, but struggling company as it attempts a comeback.
Chrysler LLC has named longtime Toyota Motor Corp North American executive Jim Press as a new vice chairman and president.
Major automakers posted mixed U.S. sales for August on Tuesday, as executives cautioned the embattled industry was facing reverberations from a weaker housing market and the shakeout in subprime lending. Industrywide sales for August were tracking at 16.1 million vehicles on an annualized rate, down from 16.2 million a year earlier.
DaimlerChrysler left investors guessing about plans to return excess cash to shareholders as the German carmaker reported second-quarter operating profits on Wednesday in line with market expectations.
