Ford Cuts Production While Chrysler's Sales Rise
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Ford Motor posted weaker U.S. vehicle sales for August today and cut its fourth-quarter production. Chrysler posted a fifth straight month of stronger results.
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Ford Motor Co.  reported on Friday  a decline in monthly U.S. auto sales and slashed its North  American production forecasts yet again.
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G.M.âs sales were up 2.1 percent. In contrast, sales fell 12 percent at Chrysler, 2.3 percent at both Toyota and Honda, 4 percent at Ford and 7.3 percent at Nissan.
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Automaker Chrysler LLC aims to cut its product lineup by around a half and dramatically shrink its dealership network so it can sell its three brands under one roof, the Wall Street Journal reported on Friday, citing people familiar with the plan.
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DETROIT/FRANKFURT  - DaimlerChrysler said on Wednesday it would cut 13,000 jobs at its Chrysler operations in North America, and raised the prospect that it could even part ways with the loss-making business.
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Toyota Motor Corp.  took the No. 2 spot in the U.S. market in November from Ford Motor Co. , which saw sales tumble by a steeper-than-expected 10 percent and slashed its production outlook, according to sales data released on Friday.
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Ford's US sales fall 10%, adding to the pressure on the carmaker but rival General Motors enjoys a rise in sales.
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Ford Motor Co. announced a new round of plant closings and staff cuts and suspended its dividend payment Friday as it aims to save $5 billion in costs.
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General Motors Corp. and Ford Motor Co.  posted weaker U.S. sales for August on Wednesday and both cut  planned fourth-quarter production as their aging vehicle  lineups lost ground to rival Chrysler and some foreign brands.
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Ford Motor Co.  said on Friday U.S. May vehicle sales fell 6.8 percent from a year earlier as higher gas prices and a weaker housing market hurt consumer demand and the automaker cut back on fleet sales.
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Chrysler LLC said on Tuesday its U.S.  sales fell 6 percent in August as the automaker cut back on  sales to daily rental companies.
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Ford Motor Co.  dropped from second to fourth in U.S. auto sales in November as they slid a steeper-than-expected 10 percent, while Toyota Motor Corp.'s  sales surged 16 percent to put it in the No. 2 spot.
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SAN FRANCISCO (CBS.MW) - Shares of leading automakers closed on a positive note Thursday, one day after General Motors and Ford Motor posted soggy sales results for August and announced plans to scale back production.
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Ford Motor Co.  dropped from second to fourth in the U.S. auto market in November as its sales slid by 10 percent, while Toyota Motor Corp.'s  sales surged 16 percent to put it in the No. 2 spot.
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DETROIT/FRANKFURT  - DaimlerChrysler said on Wednesday it would cut 13,000 jobs at its Chrysler operation in North America and indicated it could sell or spin off the money-losing unit, which would unwind a troubled 9-year-old merger between Chrysler and Mercedes.
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U.S. automaker Chrysler LLC aims to cut  its product lineup sharply and shrink its dealership network to  sell its three brands under one roof as part of its corporate  restructuring, the company said on Friday.
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Ford Motor Co.  said on Friday  U.S. May vehicle sales fell 6.8 percent from a year earlier as  higher gas prices and a weaker housing market hurt consumer  demand and the automaker cut back on fleet sales.