Detroit's Big 3 expect tough year for auto sales
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U.S. auto sales will likely fall again in 2008 due to economic stress on consumers, raising pressure on struggling Detroit automakers to cut prices or use sales incentives, economists and officials said on Tuesday.
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DetroitÂs big rebates and interest-free financing deals have strengthened car sales for the last three years. But they have also eroded the resale value of many American automotive brands.
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Carmakers expect 2008 to be challenging, but hundreds of automotive parts suppliers are anticipating the year ahead to be one of the ugliest ever.
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DETROIT Despite a crop of new car models and a generous supply of rebates, sales fell for Ford Motor and General Motors in November.
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A recovery in the economy later this year will keep U.S. vehicle sales from plunging as deeply as the most bearish forecasts suggest, according to an outlook released on Sunday by the group representing U.S. auto dealers.
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The three big Detroit automakers will  seek unprecedented concessions from the United Auto Workers  union (UAW) in contract negotiations, The Wall Street Journal  reported in its online edition on Thursday, citing auto  executives.
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CHICAGO - Toyota will sell more vehicles in the United States than DaimlerChrysler by 2009 to join General Motors and Ford in a new-look Big Three, a leading industry forecaster predicts.
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Washington Post business columnist Steven Pearlstein will be online to talk about his latest column, which looks at the possibility that the "Big Three" automakers may wind up in the throes of a "death spiral."
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CHICAGO _ Toyota will sell more vehicles in the United States than DaimlerChrysler by 2009 to join General Motors and Ford in a new-look Big Three, a leading industry forecaster predicts.
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Business News, DETROIT, General Motors Corp. and Ford Motor Co. said on Wednesday they would cut production more than expected after weak US sales in November, a move that analysts said could hurt profits.
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Slow sales and slashed workforces have reportedly prompted executives from the two ailing auto giants to talk about an alliance - or even a merger
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Higher gasoline prices and interest  rates took a toll on U.S. vehicle sales in June, with General  Motors Corp.  braced for a sharp decline from last year&#039;s  incentive-boosted numbers, analysts and executives said.
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As Wall Street ponders the  future of Detroit, analysts see sharply diverging scenarios  emerging from an uncertain summer and crucial contract  negotiations with the United Auto Workers union.
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The head of DaimlerChrysler AG's troubled Mercedes division has warned that market conditions will worsen this year, further burdening the luxury car unit.
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Meanwhile, Detroitâs other automakers experienced significant declines.
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Sales by Detroitâs two largest automakers fell as they focused on more profitable transactions at dealerships.
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Housing woes and high gas prices likely  combined to send U.S. auto sales to a weak finish in December,  capping the industry's worst sales year in a decade and  increasing pressure on U.S. automakers to cut production  further, analysts said on Wednesday.