DETROIT, Oct 28 (Reuters) – U.S. auto sales will rise above
17 million vehicles next year for only the third time in
history, AutoNation Inc Chief Executive Mike Jackson said
In the previous years when U.S. auto sales topped 17 million
vehicles, 2000 and 2001, the number of vehicles per household
was on the rise, a trend which Jackson said has since leveled
off and will not be a driver in next year’s projected growth.
DETROIT, Oct 28 (Reuters) – AutoNation Inc on Tuesday
reported a 15 percent jump in third-quarter earnings, in part
because of robust profit from used cars.
Shares of the largest U.S. auto dealer group rose 3.5
percent to $53.83 in trading before the market opened.
DETROIT, Oct 27 (Reuters) – Toyota Motor Corp’s
namesake brand and its Lexus luxury brand finished one-and-two
for the second year in a row in Consumer Reports’ annual quality
survey of the U.S. new-vehicle market, the influential magazine
said on Monday.
The four lowest-scoring brands were all from Fiat Chrysler
Automobiles’ Chrysler Group, as were five of the bottom seven.
Fiat scored the lowest of the 28 brands and the Fiat 500L was
named the least reliable among 265 models included in the
DETROIT (Reuters) – Ford Motor Co’s (F.N: Quote, Profile, Research, Stock Buzz) new chief executive, Mark Fields, is giving the automaker’s long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash.
Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead.
MILAN/DETROIT (Reuters) – Fiat Chrysler Automobiles could find it tough to meet its 2014 profit guidance and may cut forecasts when it reports quarterly results next week as slowly recovering North America profit margins may fail to fully offset weakness in Europe and Latin America.
The group (FCAU.N: Quote, Profile, Research, Stock Buzz)(FCHA.MI: Quote, Profile, Research, Stock Buzz) expects to raise operating profit, excluding one-off items, by as much as 14 percent this year, but has been struggling to make up for a double-digit sales drop in Brazil and a fragile recovery in Europe.
DETROIT (Reuters) – Ford Motor Co’s third-quarter earnings fell 34 percent but beat Wall Street expectations on a strong showing in North America even as revenue fell due to the cost of introducing the F-150 pickup truck.
Ford’s launch of its aluminum-bodied F-150 is on track, the company said on Friday. A 3 percent drop in third-quarter revenue to $34.9 billion is largely linked to the planned shutdown of the F-150 plant in Dearborn, Michigan.
DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) on Thursday reported a higher-than-expected profit in the third quarter and said it had strong demand for its redesigned full-size pickup trucks in North America.
“Solid results really continue to be driven by strength in North America and China,” GM Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.
DETROIT (Reuters) – The United Auto Workers hopes to be recognized as the exclusive bargaining agent for workers at a Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) assembly plant in Chattanooga, Tennessee within a year, the union’s President Dennis Williams said on Wednesday.
That would mark the first tangible victory for the UAW at a foreign-owned auto assembly plant in the U.S. South, where it has long faced stiff opposition in its attempts to organize workers.
Oct 3 (Reuters) – The United Auto Workers on Friday
announced the formation of UAW Local 112 for hourly workers at
Daimler AG’s Mercedes-Benz plant in Alabama, and
confirmed it will work with two German labor groups to organize
“What happens here is important to the future of the labor
movement,” said UAW president Dennis Williams, who swore in the
initial members of the union local during a press conference at
a hotel in Tuscaloosa, Alabama, near the Mercedes-Benz plant.
DETROIT, Oct 2 (Reuters) – The United Auto Workers and two
German labor groups will announce on Friday plans to work
together to organize Daimler AG’s Mercedes-Benz plant
workers in Alabama, sources close to one of the German labor
groups said on Thursday.
The move would be similar fashion to efforts by the UAW and
German labor to organize the Volkswagen AG plant in