Bernie's Feed
Nov 12, 2014

As gas prices slide, U.S. car buyers go for size, shun hybrids

DETROIT Nov 12 (Reuters) – It is the automotive equivalent
of Pavlov’s bell: when gasoline is expensive, U.S. car owners
try to downsize, but once pump prices ring down, they salivate
over big pickup trucks and SUVs.

With gas prices dipping below $3 a gallon last month for the
first time since December 2010, size is back in vogue.

Nov 7, 2014

New UAW president vows to be more open to members, public

DETROIT (Reuters) – As the United Auto Workers faces what many observers say will be the most difficult contract talks with U.S. automakers in decades in 2015, its new president said more open communication with union members and the public will help at the bargaining table.

Dennis Williams, 61, elected to a four-year term in June, created a small social media department as part of a reshaping of the union’s Detroit headquarters and plans to use Facebook, Twitter and other social media platforms to communicate directly with members in next year’s talks, he said in a recent interview with Reuters.

Nov 5, 2014

Tesla third-quarter loss doubles to $75 million, shares rise

DETROIT (Reuters) – Electric car maker Tesla Motors Inc (TSLA.O: Quote, Profile, Research, Stock Buzz) said its third-quarter loss nearly doubled from a year ago to $75 million, as manufacturing, sales and development expenses increased to meet rising demand for its Model S sedan.

The company also said production of its next vehicle, the Model X crossover, will be delayed by several months until the autumn of 2015. Tesla did not give a reason for the delay.

Nov 5, 2014

Tesla 3rd-qtr loss doubles to $75 mln, shares rise

DETROIT, Nov 5 (Reuters) – Electric car maker Tesla Motors
Inc said its third-quarter loss nearly doubled from a
year ago to $75 million, as manufacturing, sales and development
expenses increased to meet rising demand for its Model S sedan.

The company also said production of its next vehicle, the
Model X crossover, will be delayed by several months until the
autumn of 2015. Tesla did not give a reason for the delay.

Nov 5, 2014

Chrysler Group profit jumps, keeps 2014 outlook; shares gain

DETROIT (Reuters) – Chrysler Group LLC, a unit of Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research, Stock Buzz) (FCAU.N: Quote, Profile, Research, Stock Buzz), on Wednesday reported third-quarter net income of $611 million, up 32 percent from a year earlier, and kept its full-year outlook, sending shares up in early trading.

Revenue for Chrysler, which derives most of its sales from its home North American market, was $20.66 billion, up 17.6 percent. The revenue growth matched that of vehicle sales, which surged to 711,000 vehicles.

Nov 3, 2014

U.S. October auto sales strong, but GM misses

DETROIT (Reuters) – U.S. automakers reported their strongest October sales in years on Monday, but top-seller General Motors Co (GM.N: Quote, Profile, Research) missed expectations.

Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research)(FCAU.N: Quote, Profile, Research) U.S. October sales rose 22 percent on strong pickup truck and Jeep SUV demand, and beat analysts’ expectations.

Nov 3, 2014

Chrysler U.S. sales up 22 percent on pickup truck demand

DETROIT, Nov 3 (Reuters) – Fiat Chrysler Automobiles
U.S. October sales rose 22 percent on strong
pickup truck demand, the company said on Monday.

The Ram pickup truck brand, anchored by the Ram 1500,
reported sales of 39,834 vehicles, a 36 percent increase from a
year ago. Chrysler Group and its Ram brand took advantage as
Ford Motor Co has lowered production of its top-selling
F-150 pickup truck in recent months. Ford is transitioning to a
new aluminum-bodied version that will begin sales late this
year.

Oct 31, 2014

U.S. October auto sales seen rising 6 percent -Reuters poll

DETROIT, Oct 31 (Reuters) – The U.S. auto industry continued
its moderate recovery in October and will show a 5.7-percent
rise in sales from last year, analysts polled by Reuters said.

Chrysler Group and Nissan Motor Co will lead the
growth with double-digit gains over a year ago, the analysts
said.

Oct 29, 2014

AutoNation shares jump 7 percent, profit up on used car sales

DETROIT (Reuters) – AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz) shares on Tuesday jumped nearly 7 percent after the company exceeded Wall Street expectations with a 15 percent increase in third-quarter earnings and its chief executive said U.S. auto sales will continue to rise in 2015.

Shares of the largest U.S. auto dealer group closed at $55.58, up 6.9 percent.

Chief Executive Officer Mike Jackson said the U.S. recovery from the recession five years ago would continue into 2015. He expects U.S. new auto sales to top 17 million vehicles for the first time since 2001.

Oct 28, 2014

AutoNation stops selling cars with Takata air bags

DETROIT (Reuters) – AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. auto retail group, has stopped selling cars equipped with Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz) air bags involved in a massive global recall involving more than 16 million vehicles, Chief Executive Mike Jackson said on Tuesday.

“We as a company have made the decision not to retail any vehicle that is involved in this recall until it is repaired and the vehicles that do come in for service, we are advising the customer not to put a passenger in front of that air bag until it’s repaired,” Jackson said in an interview with Reuters.