Toyota Motor Corp. expects industrywide U.S. auto sales to slow for the second straight year in 2007, with a rebound beginning in 2008, the company's U.S. sales chief said on Wednesday.
Ford Motor Co and Chrysler Group posted weaker-than-expected U.S. sales for July on Wednesday, underscoring the pressure on auto sales from a weaker housing market and higher gas prices.
General Motors Corp on Tuesday said it flipped to a quarterly net profit, trouncing Wall Street estimates as it benefited from cost-cutting, a better mix of products and growing sales overseas. GM, whose shares rose about 6 percent in early electronic trading following the results, posted a net profit of $891 million, or $1.56 a share, compared with a net loss of $3.4 billion, or $5.98 a share a year earlier.
Toyota's quirky Prius hybrid is chosen as the world's most eco-friendly car by the government.
Shares of Ford Motor Co. on Friday gained nearly 2 percent after the struggling automaker posted a surprise second-quarter profit, prompting Wall Street analysts to forecast a faster turnaround and a narrower loss for the year.
Ford Motor Co. is expected to post its eighth straight quarterly loss on Thursday as investors focus on signs of progress in the automaker's turnaround and its sale of luxury brands, analysts said.
Tata Motors, which is reportedly looking to enter into a tie-up with Italian sports automaker Ferrari for marketing and servicing Ferrari cars in India, is also evaluating a bid to buy luxury British car brands Jaguar and Land Rover from struggling US automaker Ford, according to a report.
Ford Motor Co. is considering selling its Volvo Cars business as it assesses the future of its European operations, a source familiar with the matter said on Sunday.
Ford Motor Co. said on Tuesday it would boost output in Russia to 125,000 cars per year by 2009 from 72,000 as it seeks to satisfy booming demand in Europe's fastest growing major car market.
Toyota and Ford, two of the world's three largest auto makers, reported strong first-half sales in China's fast-growing market, where as relative newcomers they are competing to roll out new models to attract customers.
Toyota Motor Corp. rattled Detroit-based automakers in June with generous discounts on its new Tundra pickup truck, but said on Tuesday it had no plans to compete on price in other areas of a weakening U.S. vehicle market.
Despite more aggressive discounts, Ford Motor Co. and Chrysler Group on Tuesday reported lower U.S. sales for June, underscoring the drag on the U.S. auto industry from high gas prices, fierce competition and a weak housing market.
Two government funds in the United Arab Emirates denied on Monday they were looking to acquire either Jaguar or Land Rover, the British luxury car brands of U.S. automaker Ford.
Ford Motor Co. is ahead of where it expected to be in reducing an overhang of excess production capacity at this point in its turnaround effort and has made encouraging progress in stabilizing its U.S. market share, a senior executive said on Friday.
Ford Motor Co. has hired accountancy group KPMG to examine the books at its British units Jaguar and Land Rover ahead of their expected sale later this year, the Sunday Times reported.
It has been said only half-jokingly that General Motors Corp. is actually a giant health-insurance provider - just one that happens to make cars.
While General Motors Corp. and Toyota Motor Co. both say that being profitable and providing the cars that people want to buy is their priority, the question of who will be number one in vehicle sales has nevertheless attracted a great deal of attention.
Ford of Canada announced on Thursday announced the delivery of the first hydrogen-fueled vehicles for fleet use in Canada.
Ford Motor Co. (F, NYSE) said on Friday that U.S. auto sales fell by 9.7 percent for the current quarter compared to a year ago. The company also lowered its North American production estimate by 2.5 percent.
U.S automakers face a widening gap in profitability per vehicle compared to their major Japanese rivals because of missed design opportunities, heavy discounting and high labor costs, a study released on Monday said.
Ford Motor Credit Company said on Thursday it will reduce costs in the U.S and Canada by cutting 2,000 jobs and will consolidate most of its servicing operations.
The result would be the 3rd consecutive year of profit for the Europe division.
