Bernie's Feed
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.

Sep 10, 2012

Insight: GM’s Volt – The ugly math of low sales, high costs

By Bernie Woodall and Paul Lienert and Ben Klayman

(Reuters) – General Motors Co sold a record number of Chevrolet Volt sedans in August — but that probably isn’t a good thing for the automaker’s bottom line.

Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts.

Sep 10, 2012

GM’s Volt: The ugly math of low sales, high costs

Sept 10 (Reuters) – General Motors Co sold a record
number of Chevrolet Volt sedans in August – but that probably
isn’t a good thing for the automaker’s bottom line.

Nearly two years after the introduction of the path-breaking
plug-in hybrid, GM is still losing as much as $49,000 on each
Volt it builds, according to estimates provided to Reuters by
industry analysts and manufacturing experts.

Aug 1, 2012

Auto sales remain soft in July

DETROIT (Reuters) – U.S. auto sales remained soft in July and all three Detroit automakers reported sales for the month that fell slightly short of analyst estimates, as high U.S. unemployment and weak consumer confidence kept would-be buyers on the sidelines.

JP Morgan said the annual sales pace for July was on track to be around 14 million vehicles. That falls in line with analysts’ average forecast and is also in line with June’s 14.1 million rate.

Aug 1, 2012

U.S. auto sales remain soft in July

DETROIT, Aug 1 (Reuters) – U.S. auto sales remained soft in
July and all three Detroit automakers reported sales for the
month that fell slightly short of analyst estimates, as high
U.S. unemployment and weak consumer confidence kept would-be
buyers on the sidelines.

JP Morgan said the annual sales pace for July was on track
to be around 14 million vehicles. That falls in line with
analysts’ average forecast and is also in line with June’s 14.1
million rate.

Jul 31, 2012

Insight: UAW invokes civil rights at Nissan’s Mississippi plant

CANTON, Mississippi (Reuters) – As the United Auto Workers embarks on an uphill battle to organize Nissan Motor Co’s (7201.T: Quote, Profile, Research, Stock Buzz) plant in Mississippi, it is drawing inspiration from the famous struggle waged in the state during the civil rights movement.

The union sees a winning strategy in depicting the right to unionize freely as a basic civil right. The tactic could resonate at the Canton, Mississippi plant where an estimated 70 percent of the workforce is black.

Jul 31, 2012

UAW invokes civil rights at Nissan’s Mississippi plant

CANTON, Mississippi, July 31 (Reuters) – As the United Auto
Workers embarks on an uphill battle to organize Nissan Motor
Co’s plant in Mississippi, it is drawing inspiration
from the famous struggle waged in the state during the civil
rights movement.

The union sees a winning strategy in depicting the right to
unionize freely as a basic civil right. The tactic could
resonate at the Canton, Mississippi plant where an estimated 70
percent of the workforce is black.

Jul 30, 2012

Chrysler earns $436 mln in quarter, confirms outlook

DETROIT, July 30 (Reuters) – Chrysler Group LLC continued
its turnaround from near death just three years ago, earning
$436 million in the second quarter and confirming that it will
show a full-year operating profit of at least $3 billion.

Chief Executive Sergio Marchionne, in an email to Chrysler’s
employees on Monday, warned against overconfidence in the face
of the company’s recent success after “living through a
near-death experience” in 2009.

Jul 25, 2012

Ford sees smaller 2012 profit, $1 billion loss in Europe

By Deepa Seetharaman and Bernie Woodall

(Reuters) – Ford Motor Co (F.N: Quote, Profile, Research) forecast a drop in operating profit for 2012 as the automaker expects to lose more than 644 million pounds ($1 billion) in Europe, where the deepening economic crisis is hitting sales.

Wednesday’s new full-year outlook for Europe fell in line with analysts’ estimates, but was nearly double the No. 2 U.S. automaker’s earlier forecast of a loss between $500 million and $600 million.