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Even with a booming U.S. car market, the only safe jobs of late have been building pickups and sport utility vehicles. But it seems like, these jobs aren't that safe anymore since already two automakers decided to stop producing at their few plants in USA and Canada. Within the next month, General Motors Co. plans to permanently cut about 3,300 employees at three car plants, as the largest U.S. automaker slashes production of models including the Chevrolet Cruze compact. The Detroit-based company also plans to temporarily lay off employees across five of its U.S. car factories, ...
Fiat Chrysler dealers will have to wait a bit longer for two highly anticipated big-ticket vehicles: a fully redesigned Ram heavy-duty pickup and a luxury SUV for Jeep, the Grand Wagoneer. It became clear that FCA's Ram brand will not redesign its current heavy-duty pickups onto its new DT pickup platform in 2018 but instead will keep the same body-in-white and refresh the existing DS-based model. Meanwhile, the automaker has placed a hold on its development of the Jeep Grand Wagoneer luxury SUV. The vehicle has been on Jeep's product plan since 2014 and was to boast three r...
Volkswagen Group led automotive spending on Advertising Age’s 2016 list of the top 100 advertisement spenders worldwide. Fifteen automakers and tire maker Bridgestone Corp. constituted the automotive category on the World’s Largest Advertisers list. Seven of those automakers made the top 25, Advertising Age. VW ranked No. 4 on the biggest-spenders list, with its ad spending in 2015 totaling $6.6 billion. General Motors was next for automakers, taking sixth place on the list. It spent $5.1 billion in 2015. Daimler AG ranked No. 7 and spent $5 billion. Ford Motor Co. took...
U.S. car sales rose more than we were expecting it will be in November, we had an increase of 3.7% of the industry sales, it shattered a record for the month that was set in November 2001. Auto sales rose at a seasonally adjusted annual rate of 17.87 million. Economists had estimated that sales rose at a 17.7 million rate. The sales were aided by two extra selling days from a year ago and fueled by Black Friday promotions and while there was concern about shaken consumer confidence after Donald Trump was elected president earlier in the month, car buyers apparently did not hold back.&nbs...
To clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand, automakers in the United States are ramping up holiday sales promotions ahead of Black Friday. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. The share prices of General Motors, Ford Motor, and Fiat Chrysler Automobiles NV are flat to down for the year. This reflects investor concerns that a six-year auto sales boom in the United States is reaching an end and th...
