U.S. new car sales appear to have reached a six-year high as buyers raced back to showrooms in August – but that wasn't because consumers were getting great deals.
What is going on with the Tesla? Not the scientist and inventor many of you would love to go back in time to visit but Tesla Motors, the maker of electric cars. The company made a surprise profit last quarter, sales are up and the stock is up more than 300 percent this year. Paul Eisenstein, publisher of TheDetroitBureau.com, fills us in on whether Tesla Motors has entered the big time.
If you need proof that the economy is looking up, you need only look as far as your neighborhood car lot, or maybe even your own driveway. This week it was announced that there was a major bump in March auto sales. How major? Chrysler alone experienced a 34% increase in sales over the course of the month. Paul Eisenstein is the publisher of TheDetroitBureau.com. He explains what to make of these auto numbers, and whether they’re sustainable.
There's optimism in Detroit. Back from bankruptcy the "Detroit Three" of GM, Chrysler and Ford are all making money and they're pouring money into engineering and designing cars that can go head to head with the best in the industry. The 2012 North American International Auto Show kicks off this week in Detroit.
General Motors and the United Auto Workers union have released the details of their tentative new four year agreement, which was reached on Tuesday. The deal will close the salary gap between workers in the two-tier wage system that is in place at GM and the two other Detroit automakers. Paul Eisenstein, publisher of The Detroit Bureau, has the latest on the deal.
Later today, President Obama plans to announce a major agreement between the White House and the nation’s top automakers. By 2025, cars sold domestically will have to drive 54.5 miles to the gallon. The president hopes this move will dramatically decrease the country’s need for foreign oil, but this agreement may also dramatically change the face of the American highway as we know it.
Contract negotiations between Chrysler and the United Auto Workers Union kicked off on Monday, as the industry fights to stay competitive with foreign automakers. Fellow "Big Three" companies General Motors and Ford will also begin negotiations with the UAW later this week. Will the parties involved be able to reconcile their demands and reach a suitable agreement before contracts expire in mid-September? Paul Eisenstein, publisher of The Detroit Bureau, has been following the negotiations.
Toyota announced that it would suspend U.S. production for one week beginning today. The car maker's decision in part due to problems with the Toyota supply chain, which was disrupted by March’s Sendai earthquake. However, it is unclear exactly what is causing the shutdown. To get to the bottom of the announcement, is Paul Eisenstein, publisher of website TheDetroitBureau.com.
This morning, Honda, Toyota, Suzuki, Mazda, Mitsubishi and Nissan release their domestic production levels, sales, and export results for the month of March. This is the first time that the largest Japanese automakers have shown hard numbers of their company’s activity since a deadly earthquake occurred off the coast of Sendai. Ever since the devastating earthquake officials in Japan have been putting on a brave public face. But, that posture may be coming at a high cost.
As potential car buyers flock to the New York International Auto Show this week, some industry bigwigs are skipping the annual American show for another auto event — in Shanghai. The Chinese auto show and the American auto show overlap this year, and they are certainly competing over the industry spotlight. Paul Eisenstein, publisher of The Detroit Bureau.com, is at the New York show this week. He talks about the growing importance of China's auto show. Some of America's biggest launches, including the Chevy Malibu, are happening at that show as China becomes a major market for American cars.
What cars — and trends — are making their debut at the 2011 Detroit Auto Show? Paul Eisenstein of The Detroit Bureau says that following a surprisingly strong year for the Big Three, things are looking good for American automakers at this year's show. Meanwhile, this was the first visit to the show by Toyota's CEO, who was in Detroit to promote the Prius. He admitted that his brand has faced a challenging year.
Paul Eisenstein, publisher of TheDetroitBureau.com, joins us with his predictions for the auto industry in 2011. "Barring a huge and fast runup in fuel prices, most people are predicting that this is going to be a pretty darn good year," says Eisenstein. The year also looks to be particularly good for Detroit and the Big Three. Meanwhile, rising fuel prices may also create a bigger market for electric cars.
Today "Government Motors" gets to be General Motors again, when the company announces its initial public offering. It's a cautious success story — the company had a $2.1 billion proffit this quarter. But is it the right time to go public? We speak with Paul Eisenstein, publisher of The Detroit Bureau, which covers the auto industry, for more.
Electric cars are good for the environment, but can they be made affordable and viable for a cash-strapped American public? European governments and car manufacturers are investing heavily in electric cars for both environmental and economic reasons. The U.S. government is gearing up to do the same, by offering heavy tax incentives to Americans who buy electric cars.
Things are looking up for U.S. automakers. Sales are up, and some companies like Chrysler are projecting that they will end this quarter in the black. This is big news for an industry which required massive government support to avoid bankruptcy less than two years ago. Paul Eisenstein, publisher of The Detroit Bureau, says that the car companies have been making smart moves.
Detroit got a dose of good news, yesterday. For the first time in the 24 year history of the JD Power and Associates Initial Quality Study American car makers beat out imports. Porsche still topped the list, but Ford was in the top five up there, along with luxury brands. That is the only time a mainstream American brand has been in that group.
The federal government announced its first ever mandatory limits for particular greenhouse gas emissions, as the EPA and the Department of Transportation announced new emissions rules for automobiles and light trucks yesterday.
A video of a Prius that lost control in a dramatic crash on a California highway has sparked a new investigation into Toyota's acceleration problems. Worse, the driver says he had already reported problems to the car dealer.
The CEO of Toyota, Akio Toyoda, will testify before Congress today as part of a probe into his company's massive car recall. Toyoda's prepared remarks have already been released and the embattled CEO is expected to apologize to customers and to lawmakers ahead of his testimony.