Bernie's Feed
Oct 2, 2012

September auto sales beat forecasts as Toyota gains

DETROIT (Reuters) – U.S. auto sales for September looked set to jump about 13 percent from a year ago, beating analyst estimates because of cheap financing, stronger consumer sentiment and rebounding sales from foreign automakers including Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz).

The annual auto sales pace for September is on track to reach 14.8 million vehicles, Morgan Stanley analysts said, higher than the 14.5 million rate estimated by analysts.

Oct 2, 2012

GM, Chrysler post sales gains in September; Ford flat

Oct 2 (Reuters) – General Motors Co, the largest U.S.
automaker, reported a 1.5 percent increase in September auto
sales on the strength of its passenger car sales, while Ford
Motor Co posted sales that were on par with its results
from a year earlier.

Chrysler Group LLC, the smallest U.S. automaker, showed a 12
percent jump in sales to 142,041, marking its best September
since 2007. GM reported its strongest September since 2008,
selling 210,245 cars and trucks for the month.

Sep 28, 2012

Nissan well short of sales target for Leaf electric cars

DETROIT, Sept 28 (Reuters) – Nissan Motor Co is
falling well short of its goal of doubling sales of its Leaf
electric car this fiscal year as sales in the United States are
particularly weak despite high gas prices.

While Nissan Chief Executive Carlos Ghosn set a target of
doubling global Leaf sales in the current fiscal year that runs
through March 2013, the pace will need to increase dramatically
as they are up only 9 percent in the first five months through
August.

Sep 15, 2012

Canada autoworkers, Detroit Three still miles apart

OSHAWA, Ontario/DETROIT, Sept 14 (Reuters) – Just three days
before a strike deadline, the Canadian Auto Workers and the
three Detroit automakers were far apart on major contract
issues, with Chrysler Group’s chief executive telling workers to
temper their expectations and plant organizers preparing for a
walkout.

Talks between the union and Fiat SpA’s Chrysler Group LLC
, General Motors Co and Ford Motor Co
continued around the clock as time ticked down to the union’s
strike deadline of 11:59 p.m. EDT on Monday (0359 GMT, Tuesday).

Sep 14, 2012

Too soon to know whether Europe is stabilizing: GM CFO

By Ben Klayman and Bernie Woodall

(Reuters) – It is not clear whether the weak European automotive market is stabilizing, but executives in the industry are talking more than ever about reducing capacity to match lower demand in the region, a top General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) official said on Friday.

GM’s Opel unit in Europe has lost $16 billion over the past 12 years and the U.S. automaker has pushed for change at the business. That has included the ouster of the unit’s chief executive, as well as reducing the number of temporary and contract employees, and cutting the hours of workers at some plants.

Sep 14, 2012

As clock ticks, Canada auto workers, Detroit 3 far apart

TORONTO/DETROIT, Sept 14 (Reuters) – Just three days before
a strike deadline, the Canadian Auto Workers (CAW) and the three
Detroit automakers were far apart on major contract issues on
Friday, with Chrysler Group’s chief executive warning workers
they must be more realistic in their expectations.

Negotiations with Chrysler Group LLC, General
Motors Co and Ford Motor Co have “intensified”, the
CAW said on Friday, but little progress has been made.

Sep 14, 2012

Chrysler CEO says far from a deal with the CAW

DETROIT, Sept 14 (Reuters) – Chrysler Group LLC Chief
Executive Sergio Marchionne on Friday warned negotiators for the
company’s Canadian hourly workers that they need to be more
realistic in their expectations for a new labor deal and said
there was still a long way to go in reaching a deal.

“The facts are the facts and I think that ignoring them or
sweeping them under the carpet is not going to make anybody’s
life better,” he told reporters at a United Way of Southeastern
Michigan press conference. Marchionne is the chairman of that
charity group.

Sep 13, 2012

Ford may keep Mulally as nonexec chair-source

DETROIT (Reuters) – Ford Motor Co’s (F.N: Quote, Profile, Research) board of directors may name Chief Executive Alan Mulally as nonexecutive chairman to keep him involved with the second-largest U.S. automaker after he leaves the top post, a person familiar with the matter said on Thursday.

The board, which held a meeting on Thursday in Dearborn, Michigan, is also leaning toward promoting Mark Fields, the head of Ford’s North and South American operations, to chief operating officer, said the source, who declined to be named discussing internal Ford matters.

Sep 13, 2012

Exclusive: Mulally could stay at Ford as nonexecutive chairman – source

DETROIT (Reuters) – Ford Motor Co’s (F.N: Quote, Profile, Research, Stock Buzz) board of directors is considering keeping Chief Executive Alan Mulally involved with the No. 2 U.S. automaker after his retirement as nonexecutive chairman, a person familiar with the matter said on Thursday.

The board, which is meeting Thursday in Dearborn, Michigan, is laying the groundwork to promote Mark Fields, the head of Ford’s North and South American operations, to chief operating officer, said the source, who declined to be named discussing internal company matters.

Sep 11, 2012

Chrysler dealers see second push of new models since bankruptcy

Sept 10 (Reuters) – Chrysler Group LLC dealers came away
from a day-long company show led by CEO Sergio Marchionne in Las
Vegas on Monday confident that they will be selling a lineup of
more competitive cars and trucks over the next two years,
several dealers said.

Marchionne and chiefs of brands including those of
Chrysler’s majority owner Fiat SpA, showed 66 different
cars and truck model variations to be introduced by 2014, up
from 29 shown two years ago at a similar dealer meeting in
Orlando.