Shares of General Motors today reached levels that nearly doubled their value from half-century lows set earlier this month.
GM shares closed at $14.58 a share, up 26 cents, or 1.82 percent. Shares of GM had traded as high as $16.43, or up almost $1.75 a share, in earlier trading today. Earlier this month, GM's stock price had fallen to as low as $8.81 a share.
Continue reading "GM Shares Nearly Doubel From Historic Low" »
Microsoft Corp. Chairman Bill Gates has a 5½ percent stake in dealership chain AutoNation Inc., according to a disclosure filed Monday, July 21, with the Securities and Exchange Commission.
In betting on auto dealerships, Gates joins fellow technology pioneer Michael Dell. Dell announced plans in May to team with former Sonic Automotive President Jeffrey Rachor to start a joint dealership venture. Dell is the founder and CEO of personal computer giant Dell Inc.
Car maker Ford Motor Co (F.N) is drawing up plans to retool American plants to make small, fuel-efficient passenger cars that it mainly makes and sells in Europe, the Wall Street Journal reported on Saturday.
The paper said Ford has looked at bringing over European models, including the mid-size Mondeo, in response to high fuel costs that have hit sales of larger, fuel-hungry trucks and sport utility vehicles.
Continue reading "Ford To Retool U.S. Plants For European Cars"
The 20 members of General Motors' national dealer council are putting their money where their mouths are. They purchased more than $1 million worth of GM stock this week.
The dealers say the move is a symbolic gesture to show support and confidence in GM's future.
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The Volkswagen Group delivered 3.27 million vehicles worldwide (+5.8 percent) from January to June 2008, the highest figure ever for the first six months of a year. Group worldwide deliveries in June also reached a new record: compared with the same period last year, the number of vehicles delivered rose by 2.4 percent to 573,000. As a result, the development of deliveries by the Group both for the period January to June and for the month of June was significantly better than developments on the overall market (+1 percent from January to June and -5.1 percent in June).
Continue reading "Volkswagen Delivers Record Number Of Vehicles In First Half of 2008"
It’s
not hard to find the bad news these days. Even Toyota brands, thought to be
immune, have suffered a 6.8% drop in sales so far this year. That’s why
optimistic words from Lentz to AN reporter Mark Rechtin are worth a
second look.
Lentz offered some reassuring words about the future of the auto business in the U.S. And while it is not hard to be discouraged over the poor sales performance in 2008, he offers a few demographic-based rays of hope for the medium and long-term prospects for both the car and truck businesses in this country.
Continue reading "Toyota USA President Explains Why The Medium & Long-Term Outlook Is Bright" »
Ford Motor Co. unveiled new safety technology that warns motorists if they are about to run a red light or stop sign.
Journalists were invited to try out the system, which the automaker installed at the intersection of Village Road and Military Road on its Dearborn product development campus.
At the intersection, a box is installed containing a traffic control computer, GPS system, short-range Wi-Fi radio, map storage and a central processor. As a car approaches, a small transmitter mounted atop the light pole establishes a connection with the vehicle's navigation system. It transmits a map of the intersection and tells the car the status of the lights, as well as how long until they change.
Colliers Abood-Wood Fay’s automotive real estate services group has facilitated a transaction of 5.5 acres next to Mall of the Americas off the 836 Expressway for $11.9 million. The site, formerly occupied by Expressway Toyota, was sold by Kahn Family Enterprises of South Florida Ltd. and bought by Albert Maury as trustee for Leon Medical Centers. According to the local firm, the ARESG has generated $200 million in business completing similar automotive transactions over the last four years.
“Our automobile dealers are making record sales; however, not selling cars, but selling their land,” says Owen G. Cone, senior commercial associate with South Florida-based Colliers Abood-Wood Fay. Besides the recently completed deal, Cone says he’s involved with $100 million of similar transactions currently in negotiation. “We’ve made a name for ourselves within the auto dealer community and they have made several referrals back and forth to each other,” he tells GlobeSt.com.
Toyota Motor Corp. will start producing the hybrid Prius in the U.S. for the first time as the Japanese automaker adjusts its U.S. manufacturing operations to meet customer demands for smaller, more fuel-efficient vehicles.
The company said Thursday it will start producing the Prius in 2010 at a plant it is building in Blue Springs, Miss. Toyota already builds a hybrid version of the Camry sedan in Kentucky, but this will be the first time the Prius, which has been on sale for more than a decade, will be built outside of Asia.
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Carpooling – once the bane of independent drivers everywhere – is emerging with new respectability, its own jargon and specific rules of etiquette as motorists search for ways to ease the pain at the gasoline pump.
New vehicles such as Ford’s seven-passenger Flex crossover can make the commuting journey more comfortable, thanks to a host of unique features, such as a refrigerator in the second row, SIRIUS® Travel Link™ and a panoramic sunroof that lets natural light shine in for second- and third-row passengers.
Continue reading "Ford Flex Offers Ideal Package For Carpooling"
