Automobile industry
The United Auto Workers union has announced a tentative agreement with Ford Motor Co. on health care costs that will require "sacrifices" from workers and retirees. The agreement, which is subject to ratification by UAW members and court approval, will ask active and retired members to make contributions
Automobile industry
Dongfeng Motor Group, a Chinese automaker, has seen its shares rise significantly in Hong Kong following its initial public offering (IPO). The company, which makes Nissan, Honda, and Citroen cars, raised $3.97 billion in the IPO and aims to expand sales to make up for declining profit margins and
Transportation equipment industry
As the Detroit car industry struggles with significant restructuring plans and job losses, Bill Ford, chairman and chief executive of Ford Motor, has urged the US government to provide extra tax breaks to help the industry compete with Asian rivals. This move comes as General Motors, a rival car manufacturer,
Transportation equipment industry
General Motors, the largest carmaker in the world and the backbone of American industry, is on the verge of bankruptcy, threatening the livelihoods of millions of Americans and posing a significant psychological blow to the United States. Despite the company's plans to reduce costs and improve its profitability,
Automobile industry
The 39th Tokyo Motor Show, attended by 240 automakers, component suppliers, and other related firms from 13 countries and one region, highlighted the industry's shift towards sustainable mobility with fuel-cell and electric vehicles. The two-week show, running from October 19 to November 6, featured nearly 600 cars and
Automobile industry
Ford Motor Co. and other major US automakers are in talks with the United Auto Workers (UAW) to reduce health-care costs, following an agreement reached by General Motors Corp. to trim those expenses. The discussions at Ford are described as "very private and constructive" by Joe Laymon, a
Transportation equipment industry
The Dow Jones Industrial Average (DJIA) has fallen in the double-digit range, while the Nasdaq Composite (COMP) and the S&P 500 Index (SPX) are losing ground due to unfavorable data. The non-manufacturing index from the Institute for Supply Management (ISM) dropped to 53.3 in September, below the
Transportation equipment industry
Automakers in the United States struggled with weak sales in September, particularly with sport utility vehicles (SUVs), as gas prices skyrocketed following Hurricane Katrina. While Asian brands such as Toyota and Nissan saw sales increases, American carmakers like General Motors and Ford felt the pinch. The downturn in SUV sales
Transportation equipment industry
Delphi Corp. continues to engage in comprehensive restructuring talks with its major unions and General Motors Corp. in a bid to address the company's existing U.S. legacy liabilities and the resulting high-cost structure of its U.S. operations going forward. Despite the ongoing discussions, the company has
Transportation equipment industry
Billionaire investor Kirk Kerkorian's significant investment in General Motors Corp. sent the company's bonds trading up last week, with some analysts hoping that his involvement will inject efficiency into the struggling auto giant. Meanwhile, Calpine Corp.'s bonds plummeted amidst controversy over management and conflicts
Transportation equipment industry
In a recent survey by the American Chamber of Commerce in China, 68% of American companies in China reported profitable or very profitable performances in 2004, with 86% of companies experiencing higher revenues compared to the previous year. The survey, included in the chamber's White Paper 2005, revealed
Transportation equipment industry
As the US carmaker continues to invest in its hybrid technology, General Motors chairman and CEO Rick Wagoner stated that the company expects its new hybrid fuel-saving vehicles to incur losses, but is pushing ahead with development in the belief they will improve its image. Despite low volume and high
