Bernie's Feed
Jul 27, 2015

Toyota’s Scion aims to double U.S. sales by 2017

DETROIT (Reuters) – The youth-oriented Scion brand will double U.S. sales to above 100,000 by 2017 on the strength of three new offerings, two of which go on sale in September, the head of the 12-year-old Toyota Motor Corp brand said.

In the first half of this year, Scion’s U.S. sales were down 19 percent at nearly 25,000. But Doug Murtha, the brand head, said Scion, helped by the two model launches, should end this year near the 58,000 in U.S. sales it had in 2014.

Jul 24, 2015

Fiat Chrysler U.S. to recall vehicles to prevent hacking

DETROIT/SAN FRANCISCO (Reuters) – Fiat Chrysler will recall 1.4 million vehicles in the United States to install software to prevent hackers from gaining remote control of the engine, steering and other systems in what federal officials said was the first such action of its kind.

The announcement on Friday by FCA US LLC, formerly Chrysler Group LLC, was made after cybersecurity researchers used the Internet to turn off a Jeep Cherokee’s engine as it drove, increasing concerns about the safety of Internet-connected vehicles.

Jul 23, 2015

Ford, UAW, formally begin labor talks; jobs to Mexico at issue

DETROIT (Reuters) – Leaders of the United Auto Workers union and Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) started talks on a new labor contract on Thursday, with the specter of jobs fleeing to Mexico hanging over the proceedings.

Earlier this month, Ford announced that it would move production of its Focus and C-Max small cars from a plant near Detroit in 2018. Ford has not confirmed UAW officials’ comments that the production will move to Mexico.

Jul 23, 2015

GM earnings more than doubles on U.S. truck demand; shares jump

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) said Thursday adjusted net income more than doubled in the second quarter, due to robust profit margins driven by North American truck sales and continued strength in China, sending its shares surging in premarket trading.

Stripping out one-time charges, GM earned $2.9 billion, or $1.29 a share, in the latest quarter, up from $1.4 billion, or 58 cents a share, and well ahead of the $1.08 a share forecast of analysts. Profits rose despite declining global vehicle deliveries and a 3.5 percent decline in worldwide revenue.

Jul 21, 2015

Ford bets U.S. consumers will snap up high-end pickup trucks

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) on Tuesday will launch a new luxury version of its F-150 pickup truck that could command prices above $60,000, answering growing demand from U.S. consumers for trucks that could substitute for a higher end German sedan.

The 2016 Ford F-150 Limited will go on sale later this year, and will be a step up from the automaker’s current top-of-the-line pickup, the F-150 Platinum.

Jul 10, 2015

Detroit Three, UAW will square off over wages, U.S. jobs

DETROIT (Reuters) – The Big Three U.S. automakers and the United Auto Workers union will kick off bargaining Monday for new contracts that would set how much more robust, post-recession profits the industry shares with workers, and determine union costs to win more U.S. jobs.

UAW leaders said they will insist on raises for 139,000 blue-collar workers at U.S. plants run by Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research, Stock Buzz) (FCAU.N: Quote, Profile, Research, Stock Buzz) after rounds of bargaining in 2007 and 2011 that led to substantial concessions. Union leaders and chief executives of the Detroit Three are scheduled to stage public handshakes next week, starting Monday. Their current contracts expire Sept. 14.

Jul 9, 2015

Ford to move production of Focus, C-Max cars from Michigan

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) will move production of its Focus small cars and C-Max hybrids from its Michigan Assembly Plant near Detroit in 2018, it said on Thursday, highlighting difficulties U.S. automakers are having building fuel-efficient vehicles profitably at home.

The announcement casts doubt on the future of one of Ford’s largest U.S. factories and comes just days before executives and leaders of the United Auto Workers formally kick off talks toward a new labor agreement. The UAW is expected to push for wage increases and fight company proposals to scale back healthcare costs.

Jul 8, 2015

GM recalls Hummer models after fires burn three people

DETROIT (Reuters) – General Motors Co is recalling
nearly 200,000 older model Hummer SUVs, mainly in the United
States, to fix problems that have led to three people being
burned, the company said on Wednesday.

In a separate recall, 50,731 newer model Chevrolet Spark
subcompacts will be recalled because a software problem may
cause safety warnings not to work, GM said.

Jul 1, 2015

Strong truck, SUV demand helped Ford, GM raise prices in June

DETROIT, July 1 (Reuters) – Strong demand for sport utility
vehicles and trucks in June helped General Motors Co and
Ford Motor Co offset slowing demand for sedans by allowing
them to raise prices on their trucks.

GM and Ford said on Wednesday increases in the average
transaction prices for their vehicles, particularly trucks and
SUVs, outpaced sales volume growth that fell short of Wall
Street expectations. Ford, for example, said prices for its
F-series trucks rose 8 percent, or $3,600, while sales volume
for the pickup truck line dropped 8.9 percent in June.

Jul 1, 2015

U.S. auto sales on pace for gain over year ago, led by SUVs

DETROIT, July 1 (Reuters) – U.S. June auto sales remained
strong in June as sport utility vehicles and trucks again
outpaced cars amid moderately low gasoline prices, automakers
reported on Wednesday.

While Ford Motor Co’s sales rose only 2 percent, it
showed the largest increase in the market in the average price
of its vehicles, industry consultant Kelley Blue Book said.