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Ford Motor Co. is doing its best to fight the downturn in the car market but it’s not that easy, and it seems like it’s not that easy, and the fight is almost lost. The major American automaker is preparing for major reductions to its worldwide workforce amid CEO Mark Fields’ renewed efforts to hike profits and address the company’s falling share price. Ford plans to shrink its salaried workforce in North America and Asia by about 10 percent, and will offer generous early retirement incentives to reduce its salaried ranks by Oct. 1, but the company does not p...
We knew that when automakers will reveal their April car sales the results will be disappointing, but we had no idea the sales will be this low. The auto industry might be receding from its breakneck pace, which means the chances of getting a third consecutive year with positive results are not so high. Overall, the industry reported a 4.7% sales decline to 1.43 million units. General Motors, Ford, Fiat Chrysler and Nissan each reported deeper-than-expected sales declines for the month. Toyota narrowly edged expectations, but it still recorded a 4.4% decline for the month, compared ...
Another year-over-year decline in the automotive industry. This April wasn’t that successful as automakers and dealerships wanted them to be, and this is why we have such low car sales predictions. Declines will be broad-based, with General Motors, Ford, Fiat Chrysler and all other major automakers expected to report lower sales. Meanwhile, Tesla shares soared to a record high Monday ahead of the electric vehicle maker's earnings Wednesday. April auto sales will likely come in at a seasonally adjusted annual rate of 17.1 million, down 1% vs. a year earlier. But that would ...
We’ve got for you a new forecast, and we are afraid it’s not a positive one. Expect the new car sales in U.S. to drop 3.1% in April to 1.445M units. Sales for mid-size SUVs/crossovers are expected to be 8%, while compact and small car sales are seen falling. Mid-size SUVs appear to have the largest impact in swaying consumers from buying mid-size cars and minivans, both of which are down 20 percent this year. The 2017 calls for U.S. auto sales might be approximately in the range of 16.8M to 17.3M units, which represents a 1% to 4% decline from last year. ...
New York’s attorney general has reached legal settlements with 104 dealerships it identified as having sold vehicles without disclosing open safety recalls. As part of the settlement, reached on Friday with New York Attorney General Eric Schneiderman, those dealers must now notify customers two days before a sale of an unrepaired vehicle that no repair has been completed. Franchise dealerships are also required to provide loaner vehicles to customers if repairs to their recalled vehicles take more than one day to complete. The settlement comes following an investigation by the...
