NEWS
By Dan Becker and James Gerstenzang | July 14, 2009
Is the new "cash for clunkers" law really a vehicle for replacing gas-guzzling cars and trucks with the next generation of clean, green machines - or is it just a pretext for moving slightly less thirsty guzzlers from dealers' lots onto America's driveways? If the federal agency with the mission of overseeing the law does its job well, we'll find out quickly - and well before the automakers show up again on Capitol Hill, tin cup in hand, asking Congress this question from Dickens' Oliver Twist, updated for 2009: "Please, sirs, may we have some more billions?
NEWS
By Jim Tankersley and Richard Simon | May 19, 2009
WASHINGTON - -The Obama administration will unveil rules Tuesday that will require vast reductions in vehicle greenhouse gas emissions and gas mileage improvements over the next seven years, changes that will mark a potentially pivotal shift in the battle over global warming. After decades of political sparring, legal challenges and scientific arguments over climate change, three of the central players - the federal government, major U.S. car makers, and the state of California - have essentially concluded that the time has come to suspend hostilities and make a deal.
NEWS
By Scott Calvert | January 26, 2009
Just before 2 a.m. on a quiet residential street in Parkville, one man's problems - missed car payments, default notice, threat of repossession - were about to boost another's bottom line. Tony Atkins deftly backed his Midnight Express-brand towing rig under a Chevy Impala. With a glance up at a row of darkened homes, Atkins pulled away, the car's emergency brake squeaking behind his rumbling truck. The capture took all of five seconds. "Hey, there's one," Atkins said, keeping score early on this recent frigid morning.
NEWS
By MarketWatch | January 3, 2008
SAN FRANCISCO -- Major automakers will close their books today on what is expected to be the worst year of car sales in almost a decade. December's likely retreat has done little to inspire hope for a broad turnaround in the coming year, according to Goldman Sachs analyst Robert Barry, who predicted double-digit declines from a year ago for both General Motors Corp. and Chrysler LLC. Barry is looking for Ford Motor Co. to fare the best of the domestic competition, but only because December a year ago was so weak.
NEWS
August 15, 2007
Maryland's bid to make its own stand against global warming has been blocked by federal resistance. But pressure to surmount that barrier is building as nearly half the nation has now joined the cause. Maryland's "clean cars" legislation, aimed at reducing greenhouse-gas production in the state by 7.8 million tons per year, has run up against the Bush administration's stubborn campaign on behalf of the automobile industry to prevent states from regulating tailpipe emissions from vehicles sold within their borders.
NEWS
By Steve Chapman | July 23, 2007
CHICAGO -- Of all the ideas on how to combat global warming, few have more obvious appeal than producing cars that get better mileage. The Sierra Club says a boost in fuel economy standards "is the biggest single policy step" the government can take. Democratic presidential candidate Sen. Barack Obama of Illinois went to Detroit in May to advise the auto industry that this change would "help bring it into the 21st century." And last month, the Senate voted to require that each automaker's fleet of cars and trucks average at least 35 miles to the gallon by 2020.
NEWS
By Detroit Free Press | October 31, 2006
DETROIT -- Ford Motor Co. will build fewer cars and trucks next year as it reduces sales to rental companies and analysts expect consumers to keep buying fewer of the models that Ford sells. Ford said yesterday that it would cut North American production of new cars and trucks by 8 percent to 12 percent in the first half of 2007, but increase production in the remainder of the year by 5 percent to 10 percent. The news follows Ford's historic production cut of 21 percent in the last three months of this year, which has caused temporary plant layoffs in several states.
NEWS
By BLOOMBERG NEWS | April 4, 2006
DETROIT -- General Motors Corp. and Ford Motor Co., the biggest U.S. automakers, sold fewer vehicles in March as they tried to rely less on fleet buyers such as rental agencies. That led to the industry's first monthly decline this year. Toyota Motor Corp.'s sales increased 6.9 percent from a year earlier and DaimlerChrysler AG's rose 2.9 percent. GM's drop was 14 percent and Ford's was 4.6 percent, the companies said yesterday. Sales rose 0.2 percent at Honda Motor Co. and decreased 2.6 percent at Nissan Motor Co. "GM is falling further behind competitors," said Sean Egan, managing director of Egan-Jones Ratings Co. of Haverford, Pa. Industrywide sales slid 2.9 percent as GM and Ford sought to reduce sales to fleet customers, which generate little or no profit.
NEWS
By BLOOMBERG NEWS | November 2, 2005
Toyota Motor Corp. reported an increase in U.S. auto sales in October as General Motors Corp. and Ford Motor Co. posted declines, accelerating the Japanese company's push to become the world's largest carmaker. Toyota, the world's No. 2 automaker by sales behind GM, said yesterday that U.S. consumers bought 1.3 percent more of its cars and trucks in October compared with a year earlier. GM said its U.S. sales fell 22.7 percent in October from a year ago. Ford reported sales down 23 percent.
NEWS
By KNIGHT RIDDER/TRIBUNE | July 23, 2005
DETROIT - Anxiety is growing about the shape and size of Ford Motor Co.'s next round of cost and job cuts, which executives have promised will be announced by the end of the year, as at least half a dozen spokespeople were dismissed this week. The Wall Street Journal reported yesterday that white-collar job cuts were discussed at a manufacturing division meeting last month. Workers said the cuts could be as steep as 30 percent of the salaried work force, or more than 10,000 jobs - nearly a third of Ford's white-collar employees, the newspaper reported.