Chrysler Group reported its first annual profit since 2005 Wednesday, capping a comeback a little more than two years after a federal bailout, a bankruptcy filing and a takeover by Italian automaker Fiat.
New federal gas mileage rules proposed Wednesday will add thousands of dollars to the cost of new cars. But in the long run, regulators say, drivers will spend less on gas, outweighing the additional cost at the dealership.
Major U.S. automakers posted sales increases in September, in some cases even better than analysts had predicted. Some of the biggest gains came from SUVs and compact cars as buyers who had been putting off purchasing a new vehicle finally re-entered the market.
Just when automakers appeared to be gaining some much-needed momentum, they hit another wall. Weak economic conditions have prompted analysts to lower their vehicles sales forecasts for this year and next. Now, the hangover of bankruptcy, recession and the Japanese earthquake in March appears far from over.
If you're thinking of buying a new car, maybe you should wait a little longer. Auto industry analysts expect a rise in car buying incentives this fall beyond the ordinary "model year turn-over" sales push.
Alan Mulally and company are taking a well-deserved victory lap for their blowout first-quarter results. But looking behind the numbers, there are some potentially troublesome issues in North America that could impact earnings going forward.
In an effort to put 1 million electric cars on the road by 2015, the Obama administration has proposed a plan that would put up to $7,500 directly in the hands of car buyers without having them jump through any tax hoops.
Ford is rising fast in a survey of consumers' feelings toward car brands. In fact, Ford is now virtually tied for first place with fast-falling Toyota in the most recent Consumer Reports Car Brand Perception Survey.
New or used? Burdened by a weak economy, U.S. carbuyers are choosing the latter option more and more, helping to drive used-car prices to a record high while holding back new-vehicle sales that are sputtering at roughly two-thirds of the pre-recession level.
The government's Cash for Clunkers program resulted in a far bigger boost to car sales than was previously estimated, even by the government, according to a new analysis by Maritz Research, an automotive market research company.
A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.
The end of the government's popular Cash for Clunkers program and low inventories of vehicles led to a 40% plunge in U.S. auto sales in September compared with August, although year-over-year declines were more modest and generally in line with forecasts.
U.S. car sales are in a ridiculous funk. Even with a strong June, the current annualized rate of about 10 million vehicles isn't enough to compensate for scrapped cars and population growth. Yet the best investment play on an American recovery may not be a car or parts maker. Curiously, it may be Sirius XM Radio, which operates the radio in the dashboard.
Congress has finally passed the so-called "cash for clunkers" bill and President Obama is expected to soon sign it into law. So if you have an old gas guzzler you've been wanting to trade in, you could wind up getting a voucher for a new car.
AutoNation, the country's largest car dealer chain, posted a profit for the first quarter of 2009 despite a 43% decline in new vehicle sales, and said it expects to see improved sales in the second half of the year.
In another sign of just how far the U.S. auto industry has fallen, this is likely to be the first year since 1945 when the number of new cars bought will be less than the number of cars turned in to the junk yard.