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  1. Miscellaneous Topics
    The only major market that may be faring more poorly than automotive during this economic recession is housing. While cars just aren't selling, homes aren't selling and they're dropping in value by 30% or more. Unlike the auto industry, though, home sales actually increased by 6.3% versus...
  2. Other Car Discussions
    Nissan hasn't posted an annual loss in nine years, but the automaker is poised to take a big hit on its 2008 earnings, and like the rest of the industry, it is scrambling to restructure. The Japanese carmaker is expected to report a $2.9 billion shortfall, prompting Carlos Ghosn and his team to...
  3. Other Car Discussions
    Hardcore NASCAR fans might not recognize their favorite sport when the season picks back up on February 15th at Daytona International Speedway in Florida. Chrysler, General Motors, Ford and Toyota have all cut back funding 20 to 30 percent, and once strong teams like Petty Enterprises have...
  4. Other Car Discussions
    As you'd expect from a sales market that's fallen as far as the U.S. automotive industry itself, there are plenty of good deals to be had for the savvy new car shopper. Last month, for example, Edmunds estimates that the average new car last month was available with $2,714 in rebates. That...
  5. Other Car Discussions
    Chrysler has been out shopping its Viper line since August of last year, and reports now indicate that there are at least three interested parties that have made offers for America's other sports car. So far, there's no word on who those suitors may be, but past rumors had indicated that both...
  6. Other Car Discussions
    Rumors have been swirling this past week about the potential sale of Saleen, Inc., just a few months after the company announced they would explore the sale of their operations. L.A.-based Hancock Park Associates, who purchased a majority of the business from Steve Saleen just a few years ago...
  7. Other Car Discussions
    Let's go ahead and get it out there: General Motors doesn't have a plan for Saab, Saturn, or HUMMER - it has a bunch of hopes, ideas and proposals. The best that GM can do with Saab is try to extricate the brand from its entangled web, which might make it more attractive to a buyer. That...
  8. Other Car Discussions
    Ask for a little help from the government, and the next thing you know you're asking for the government to protect you from the very help it's giving you. General Motors is restructuring its debt load by offering equity shares instead of cash to debt holders, namely the government and the UAW...
  9. Other Car Discussions
    Filed under: Government/Legal, Earnings/Financials Auto suppliers are in a perilous position, which isn't surprising considering that their livelihoods are directly tied to those of the major automakers, and we all know how that's been going lately. To help keep their ships afloat, a team of 35...
  10. Other Car Discussions
    Filed under: Hirings/Firings/Layoffs, Aston Martin, Earnings/Financials, UK Late last year, Aston Martin announced that it would reduce its ranks by some 600 workers to cope with a sales slide of 28% in 2008. Apparently, those cuts, which are now halfway completed, weren't enough to stem the...
  11. Other Car Discussions
    Filed under: Ford, Earnings/Financials Ford has so far been able to avoid suckling on the teat of the federal government like its cross-town rivals, but after today's announcement of a 2008 fourth-quarter loss of $5.9 billion, serious questions are beginning to arise about how FoMoCo will fair...
  12. Miscellaneous Topics
    Filed under: Trends, Earnings/Financials Another year, another record profit statement from Exxon Mobil, the world's largest publicly traded oil company. The specific mind-numbingly large figure is $45.2 billion, which translates to $8.69 per share. While this figure handily beats the previous...
  13. Other Car Discussions
    Filed under: Euro, Porsche, Earnings/Financials Porsche's sales for the first six months of its fiscal year (August 1, 2008 through January 31, 2009) have decreased by 27.3% for a total of 34,000 units sold. The resulting financial effect is a 14.3% drop in revenue, or around three billion...
  14. Other Car Discussions
    Filed under: GM, Toyota, Earnings/Financials Quick: Who is the world's largest automaker? General Motors or Toyota? Last year, the two brands were in a statistical dead heat after sales for all of 2007 were tallied, and debates raged as to which one of the two global giants had outsold the...
  15. Miscellaneous Topics
    Filed under: Etc., Euro, Earnings/Financials Russia has long been included under the "emerging markets" umbrella that carmakers have been saying would lead to future industry growth. The economic fallout put an end to those predictions, with Russia suffering just as badly - and if you include...
  16. Other Car Discussions
    Filed under: Euro, GM, Saab, Earnings/Financials In the interest of making its Saab brand more attractive for purchase, General Motors is reportedly looking at returning more autonomy to its Swedish subsidiary. As it stands now, Saab is basically a glorified Swedish imprint of the Opel record...
  17. Other Car Discussions
    Filed under: Hirings/Firings/Layoffs, Jaguar, Land Rover, Earnings/Financials, UK Just days after introducing what are sure to be two of its best cars in over a decade, Jaguar, along with its partner-in-crime Land Rover, has announced that it's trimming some 450 workers from its global ranks...
  18. Other Car Discussions
    VW sues Lamborghini O.C. for "outright theft" of $12 million Filed under: Government/Legal, Supercars, Lamborghini, Volkswagen, Earnings/Financials Last November, Lamborghini Orange County, formerly the world's largest Lambo dealer, shuttered its doors for good. The reason for the abrupt...
  19. Other Car Discussions
    Mercedes-Benz pays $28.9m in fines for fuel efficiency crimes Filed under: Government/Legal, Green, Mercedes-Benz, Earnings/Financials According to the NHTSA, more than $37 million in fines were collected last year for cars sold in 2007 from manufacturers that failed to meet current CAFE...
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