Car Industry Carnage: October Sales Wrap-Up

Sales results released yesterday confirmed October was another month of dismal vehicle sales in the U.S. market. Of the top players, General Motors fared worst, seeing sales plunge 45.4% from the same month a year earlier. Chrysler was down 34.9%, while Ford was down 29.2%. Of the import "big three," Nissan dropped… » 11/04/08 8:30am 11/04/08 8:30am

Merrill Lynch: GM Bankruptcy Is "Not An Impossibility," Stock Price Plummets

GM stock is down over 14% today to a price of about ten bucks a share — lowest point in decades. Why? Well, according to the research-boys at Merrill Lynch, GM's got $27 billion in cash on hand and the automaker needs $10 billion to run the business on a day-to-day basis. To deal with the shortfalls involved with… » 7/02/08 3:30pm 7/02/08 3:30pm

Which Automaker Would You Vote Off The Island?

The Car Industry Carnage is making it increasingly clear that some automakers have what it takes to weather the recession and some don't. Call it natural selection, survival of the fittest, whatever, the time has come to separate the wheat from the chaff. Let's decide who deserves to remain afloat and who should be… » 7/02/08 11:40am 7/02/08 11:40am

Car Industry Carnage: US Auto Sales Down 18.8% For June

Everybody knew it was coming, but the extent of the disintegration of the US automotive market came clearly into view today as automakers reported their sales figures for June. During a month when the national average price of gasoline topped an average of four bucks, what does one expect? Well — how about an 18.8%… » 7/01/08 7:20pm 7/01/08 7:20pm

Hummer Sales Fall 59.3%, Rest Of GM Sales Down 18.5%, Car Industry Carnage Continues

Hummer sold 59.3% fewer vehicles in June this year than it did in June 2007, further fueling questions about the brand's viability. GM's overall sales are down 18.5% for June and 16.5% for the first half of 2008. There's some light at the end of the tunnel though: Malibu and Cobalt sales are soaring. The Malibu is up… » 7/01/08 3:40pm 7/01/08 3:40pm