The holiday weekend was good to U.S. automakers, as sales reports indicate the auto industry is on track to beat strong sales numbers from a year ago. Chrysler's U.S. sales rose a surprising 16 percent in November, while General Motors posted a 14 percent gain. Toyota sales rose 10 percent, and Ford notched a 7 percent increase.
In this inaugural episode of Automotive Insights, sponsored by Omni-ID, we're talking about the growing complexity within the American automotive landscape, from changes within the Big 3, to the revolution of battery-powered cars like the Tesla Model S, and the fact that an increasing amount of American-made cars are now emerging from the Southeastern states, like Tennessee, Alabama, Georgia and Mississippi.
As car enthusiasts converge on the annual Guangzhou auto show, few have anything except a shiny new set of wheels in mind. But explosive growth that transformed China into the world's largest auto market is also giving life to a new industry here: used cars.
Joe Hinrichs was named Ford Motor Co.'s president of the Americas one year ago, after a three-year stint as head of Ford's Asian operations. Here's what Hinrichs told The Associated Press on the sidelines of the Los Angeles Auto Show this week:
Overall, confidence in the equipment finance market is 56.9, an increase from the October index of 54.0, demonstrating an overall steady industry outlook despite continuing concerns about the U.S. economy and the negative impact of federal government fiscal policies.
The Dow Jones Industrial Average has hit a record high of 16,000 due to an improving economy and the Federal Reserve. Where does the market go from here?
Deere & Co.'s fourth-quarter net income rose 17 percent after it raised prices for farm and construction equipment as it aims to keep its profits intact even as the farm economy slows.
AMT's Industry Economist, Russ Waddell talks with Adrian Cooper, CEO of Oxford Economics and long time presenter at the Global Forecasting & Marketing Conference. Adrian provides some insight on the next downturn in the economy, exchange rates impacting global supply chains, and what it takes to create a global economic forecast.
Growth in global prescription drug spending will slow to the lowest rate in decades as low-cost generic drugs continue replacing former blockbusters in the U.S. and Europe, where governments face new pressure to reduce health care spending, according to a new forecast
The European carmaker's association reported Tuesday that EU passenger car sales rose in October for the second consecutive month. It is the first time since September 2011 that European car sales have grown two straight months — a sign that perhaps the gloom in the car market is about to lift.
The consoles went on sale Friday in the U.S. and Canada. Andrew House, president and group CEO for Sony Computer Entertainment Inc., said in a release Sunday that sales remain strong in North America. The company will launch the gaming system in Europe and Latin America on Nov. 29.
The group unveiled a report from a Mississippi State University professor on Wednesday that says Nissan Motor Co.'s Canton plant has created 16,000 jobs in surrounding areas since it opened in 2003. The report estimates that Nissan contributes $2.5 billion to the state's yearly economic output, which is about $100 billion overall.
U.S. wholesalers increased their stockpiles in September for the third straight month, an indication that they expect more demand from businesses and consumers.
A burst of hiring in October added a surprisingly strong 204,000 jobs to the economy in a month when the government was partly shut down for 16 days. And employers added far more jobs in August and September than previously thought.
Automotive supplier Toyota Boshoku is adding 180 jobs at its manufacturing plant in northeast Mississippi. The company said Friday that it's investing $21 million at the plant it opened in 2011 in Mantachie, where it makes seat components and door panels for the Toyota Corolla.
A gauge of the U.S. economy's future health rose solidly in September, suggesting the economy was making gains before the government shut down for 16 days.
The Southeast Michigan Purchasing Managers Index (PMI) for Oct. is 63.1, up from 59.9 in Sept., raising the three-month average for the economy to a robust 61.1. A PMI value above 50 generally suggests economic growth.
Toyota's quarterly profit soared 70 percent, and the world's top-selling automaker raised its earnings forecast, as cost cuts and the weaker Japanese yen compensated for slightly weaker vehicle sales.
The financial crisis of the past few years has severely sapped confidence in government around the globe, a think-tank representing the world's wealthiest economies said Tuesday.
Orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But orders that signal business confidence in the economy fell.The Commerce Department says factory orders increased 1.7 percent in September from August.
Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. According to FactSet, Kellogg has 31,000 employees, suggesting the company plans to cut about 2,170 jobs.
Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, say the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business.
Anheuser-Busch InBev, the world's largest brewer, says its third-quarter profits rose as the takeover of new brands and higher selling prices offset the impact of lower sales volumes. The gain largely reflects the company's $20 billion purchase of the remainder of Mexico's Grupo Modelo.
The stalling of the federal government contributed to worsening business conditions in nine Midwest and Plains states, according to a monthly economic report issued Friday.
U.S. factory activity expanded in October at the fastest pace in 2½ years, suggesting that the 16-day partial shutdown of the government had little effect on manufacturers.Instead, overseas demand and healthy U.S. auto sales appear to be supporting factory output.