Correspondent, Detroit
Ben's Feed
Sep 3, 2014

Heavy discounts, low gas prices drive strong U.S. car sales

DETROIT, Sept 3 (Reuters) – U.S. August auto sales were
unexpectedly strong, thanks in part to heavy discounting by the
manufacturers, with the industry selling at an annualized pace
not seen since early 2006.

General Motors Co narrowly missed expectations, but
held on to the top spot, while Toyota Motor Corp edged
Ford Motor Co for the second straight month.

Sep 3, 2014

U.S. auto sales strong, led by Ford, Chrysler, Nissan

DETROIT (Reuters) – U.S. August auto sales were unexpectedly strong, led by Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), Chrysler Group and Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz), which easily beat analysts’ estimates as the industry is seen reaching volumes not seen since before the recession.

Ford sales were up 0.4 percent, while Chrysler, a unit of Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz), showed a 20 percent gain, the automakers reported on Wednesday. Nissan was up 11.5 percent. Analysts looked for gains of 11.8 percent for Chrysler and 2.8 percent for Nissan, and a decline of 1.9 percent for Ford.

Aug 13, 2014
Aug 13, 2014

Falling U.S. used-car prices will drive up new-car incentives

DETROIT (Reuters) – The U.S. auto industry will have to offer more discounts to maintain demand as prices for used cars decline.

With auto sales recovering from their recession-era slump, the industry’s supply of used cars has started to rise again, driving down prices.

Aug 12, 2014
Aug 12, 2014
Aug 11, 2014
Aug 8, 2014
Aug 1, 2014
Jul 31, 2014

Delphi profit strong, but third-quarter outlook may disappoint

DETROIT (Reuters) – Delphi Automotive Plc (DLPH.N: Quote, Profile, Research, Stock Buzz) reported stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the third quarter that could fall short of analysts’ expectations, and shares fell 0.4 percent in morning trading.

The auto supplier said it would restructure in South America, where revenue slumped 24 percent in the second quarter.

    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Joined Reuters:
      1998
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