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Category: US Auto's
The news items published under this category are as follows.
Thursday, November 20, 2008
Stock Markets Crash to New Lows as Congress Says No to Auto Bailout / Companies / US Auto's
By: Nadeem_Walayat
Stock Markets crashed in the last hour following law makers saying NO to the $25 billion bailout requested by the big three US Auto corporations, Ford, General Motors and Chrysler, as the once thought of too big to fail are increasingly teetering at the brink of bankruptcy as law makers on capital Hill (Nancy Pelosi) had been seeking to allocate part of the $700 billion bank bailout funds at the auto industry so as to prevent bankruptcy and mass unemployment as a chain reaction hits suppliers that would impact on nearly 4 million US Jobs. Given the magnitude of the debts and losses of the big three, the initial estimates of $25 billion would soon have mushroomed to over $100 billion.Read full article... Read full article...
Wednesday, November 19, 2008
U.S. Auto Makers Driven towards Bankruptcy / Companies / US Auto's
By: Mark_OByrne
As auto manufacturers across the globe go to their respective governments, carrying empty fuel tanks hoping for a bail out, the shine has definitely dulled on platinum and palladium. Tumbling car sales in North America and Europe have contributed to a dramatic shift in investor sentiment towards these metals, which play a vital role in diesel and petrol catalysts in reducing emissions. Johnson Matthey said it expected demand from carmakers in North America for platinum to dip by 36% this year and palladium by 20%. This news coincides with Republican Senators in the US attacking carmaker's pleas for another $25bn bail out on top of the $25bn already in place for the big three US manufacturers.Read full article... Read full article...
Wednesday, November 19, 2008
The Ramifications of Bankruptcy at GM, Ford, and Chrysler / Companies / US Auto's
By: David_Urban
Much is being made in the press about the financial problems at GM, Ford, and Chrysler. For a number of years, the US automakers were the backbone of the US economy, providing jobs and products that were part of the rise of the middle class not just in this country, but abroad. A car was looked upon as a status symbol and along with the national highway system allowed Americans the freedom to travel and a symbol of wealth and stature. Read full article... Read full article...
Monday, November 17, 2008
Stop Bailout Madness as Congress Targets Ailing Auto Dinosaurs / Companies / US Auto's
By: Mike_Shedlock
Enough is enough. Congress is about to waste more money attempting to prop up ailing dinosaurs GM and Ford. We need to do something about this and we will. Please read this and act. First let's go over the background information. Read full article... Read full article...
Wednesday, November 12, 2008
U.S. Autos Seek Bailout Cash to Prevent Bankruptcy / Companies / US Auto's
By: Nadeem_Walayat
The big three US motor companies Ford, General Motors and Chrysler once thought of too big to fail are increasingly teetering at the brink of bankruptcy. Increasingly law makers on capital Hill (Nancy Pelosi) are seeking to allocate part of the $700 billion bank bailout funds at the auto industry so as to prevent bankruptcy and mass unemployment as a chain reaction hits suppliers that would impact on nearly 4 million US Jobs. Given the magnitude of the debts and losses of the big three, the initial estimates of $25 billion would soon mushroom to over $100 billion should the bailout go ahead. Read full article... Read full article...
Sunday, October 26, 2008
GE Needs Fed Bailout To Finance Operations; Dividend At Risk / Companies / US Auto's
By: Mike_Shedlock
GE is struggling to get short term financing at a price it wants to pay. So what does GE do? The answer is twofold: 1) Borrow from the Commercial Paper Funding Facility
2) Pretend this is a good thing.
Read full article... Read full article...
Thursday, September 04, 2008
GM, Ford, Chrysler on Sales Collapse Risk Bankruptcy / Companies / US Auto's
By: Mike_Shedlock
The Wall Street Journal is reporting Auto Sales Tumble, But Industry Sees Signs of Hope . Sales of cars and light trucks fell 15.5% to 1.25 million last month, down from 1.48 million a year earlier, according to Autodata Corp. The closely watched seasonally adjusted annualized selling rate was 13.7 million vehicles, up from 12.55 million in July, but down from 16.3 million in August 2007, Autodata said.
Read full article... Read full article...
Thursday, July 24, 2008
US Auto Industry in Meltdown as Ford Loses Record $8.7 Billion / Companies / US Auto's
By: Nadeem_Walayat
The Ford motor companies stock price fell sharply by more than 10% following news of a worse than expected second quarter record loss of $8.7 billion, this follows a first quarter profit of $100 million. Ford has been witnessing a near meltdown in sales from a year earlier with auto sales down 28%, and truck sales down 36%, as following the surge in gas prices the once profitable SUV's have now become a liability by clogging up dealer forecourts with unsold inventory and thus contributing to the sales meltdown.Read full article... Read full article...
Thursday, July 17, 2008
General Motors and Ford Increasing Probability of Permanent Meltdown / Companies / US Auto's
By: Mike_Stathis
The recent Merrill (MER) research report on General Motors (GM) should not be treated with any urgency, although I agree with the overall assessment of a potential bankruptcy. But I would also add Ford (F) into that picture. As you will recall, we heard the same thing from analysts less than three years ago only to see GM's share price more than double over the ensuing two years.Read full article... Read full article...
Saturday, July 05, 2008
US Auto Makers Feel the Heat of High Gas Prices / Companies / US Auto's
By: Salman_Khan
The Sport Utility Vehicle has been an American icon ever since it was born into mass popularity during the days of World War II when the American WillysJeep was introduced in the US car market. Vehicle buyers were drawn to their large cabins, higher ride height, and perceived safety. Additionally, full-size SUVs have greater towing capabilities than conventional cars, and can haul trailers, campers and boats. SUVs had the added benefit that they could carry more passengers than a pick-up truck. Finally, a perception of social wealth SUV owners grew.Read full article... Read full article...
Wednesday, June 25, 2008
Can Battery Technology Save General Motors / Companies / US Auto's
By: Mike_Shedlock
The saga at GM continues. On Monday I spoke of GM's Ridiculous Bluff to raise prices on the 2009 line of autos. GM and GMAC were in the news again on Tuesday on cash burning concerns. Let's take a look. Bloomberg is reporting GMAC's $60 Billion Deal Loses Traction as Cash Burns .
Read full article... Read full article...
Tuesday, June 24, 2008
General Motors Ridiculous Bluff / Companies / US Auto's
By: Mike_Shedlock
GM needs some poker playing lessons. The first rule of bluffing is that it's important that not everyone else at the table not know it's a bluff. The Kansas City Star is reporting GM to raise prices on 2009 models, cut production .
General Motors Corp. told dealers Monday it plans to raise prices on 2009 models by an average of 3.5 percent despite a tough market that is forcing the automaker to cut production and discount its 2008 models.
Read full article... Read full article...
Wednesday, October 24, 2007
United Auto Workers (UAW) Sellout at GM and Chrysler / Companies / US Auto's
By: Stephen_Lendman
The September and October United Auto Workers (UAW) GM and Chrysler agreements are just the latest examples of union leadership surrender and betrayal. It's an ominous sign of labor's plight and clear indication of what's ahead - more for business, less for workers, and no relief in sight with union bosses out for themselves and more allied with business and imperial interests than their own rank and file.Read full article... Read full article...
Monday, October 01, 2007
The Seven Plus Year Super Cycle Recession In US Auto Sales Continues / Economics / US Auto's
By: Bob_Bronson
Auto sales have been in a continuous recession for the past seven years. They never fully recovered from the last recession, and thus never entered an expansion stage, and they have been declining sharply for the past 22 months since their Jul '05 peak (on a rolling 12-month cumulative basis).
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Thursday, August 02, 2007
US Car Sales Slump - Perhaps Detroit Would Welcome A Strike? / Companies / US Auto's
By: Paul_L_Kasriel
Despite hefty incentives, light motor vehicle sales in July were down month-to-month for the seventh consecutive time this year. Sales crept along at an annual pace of only 15.54 million units. Excluding Katrina-dampened September 2005, this was the weakest monthly sales rate since June 2004. In the first seven months of 2007, light motor vehicle sales are down an annualized 12.03% -- the weakest July-over-December sales rate since 2003 (see table below).
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