Yahoo! Finance: Hot Cars You Can’t Have
You think having a lot of clout and a big stack of cash will get you the car of your dreams? Get in line, pal. For each rush-hour racer who simply must have the newest sporty six-figure supercar and each expressway environmentalist who lusts after the latest plug-in hybrid, there are hundreds of others vying for the same vehicle. In a world of 6.8 billion people, overlap is bound to occur. Full Story…
USA Today: 2011 Ford Explorer Makes its Debut As An Evolved SUV
But Ford unveils its new-generation 2011 Explorer today in a different world, where unemployment is still painfully high and people are questioning the costs of everything: gas, food, college degrees. The new car-based crossover Explorer is very different, but Ford (F) faces a marketing challenge in a name many people link to gas-guzzlers. Jim Farley, Ford’s head of marketing, says his No. 1 job will be to break down barriers people have built up against SUVs. Full Story…
USA Today: Watchdog Report Says GM, Chrysler Shut Dealers Too Fast
General Motors and Chrysler were pressured by the autos task force to close dealerships faster than planned without considering the impact those closing would have on job losses, a government watchdog said in a report Sunday. Additionally, GM was inconsistent in its decision making on which dealerships to close, and left little to no documentation on how those decisions were made. Chrysler stuck to a plan, however subjective that plan was. Full Story…
Los Angeles Times: Auto Sales in U.S. Down 10.8% in June from May
The recovery of the auto industry may be heading for a detour. Sales in the U.S. fell 10.8% in June from May, falling below the expectations of several automakers and many industry analysts. “We just don’t see a lot of people going to purchase cars unless there is some big incentive or deal,” said Jessica Caldwell, an analyst at auto information company Edmunds.com. “Most people’s personal finances have not improved over the past year, so they are gun-shy about purchasing a car.” Full Story…
Reuters: UPDATE 4-Fiat Drives Optimism for Euro Autos, Moves On Spin-Off
Fiat, which has a 20 percent stake in U.S. carmaker Chrysler, also showed it was moving ahead on plans to split the car business from its industrial activities, with progress on 4 billion euros of financing and a date for shareholder approval. The company, whose models span the cute Cinquecento to roaring red Ferraris, is the first of the European mass-market carmakers to report on the second quarter. Analysts welcomed the results but worried about the rest of the year. Full Story…
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