We don't know how many times through the millennia one gentleman has told another, "Be careful with her – she's beautiful, but she's expensive." We would like to know if Alan Mullaly offered that warning to Ratan Tata (above) before the latter bought Jaguar and Land Rover (JLR). As with the Blue Oval before it, Tata Motors is about to throw billions at the English luxury marques and it is looking for help doing it.
It's not getting any easier to be a Chrysler-Dodge-Jeep dealer. Last month, when Chrysler Financial asked banks and investors to renew their $30 billion line of credit, they came up about $6 billion short. To make matters worse, the investors forced the automaker to follow much tighter financial guidelines (including a requirement to get out of leasing). Now, the cash shortfall is forcing the financial division to significantly turn up the heat on their retailers. Over the next few months, the f
According to the Center of Automotive Research (CAR), General Motors is the trauma patient with doctors gathered around the gurney giving their all to save it -- and just outside the ER doors, nurses are holding back concerned parties and shouting "It's better that you don't see!" CAR Chairman Dave Cole says it comes down to revenue, and with GM's $15.5 billion Q2 loss, revenue is down by $10 billion vs. Q2 of 2007.
It's up and down, but nowhere near out for Chrysler, LLC. The Big Three's smallest sibling says that it's ahead of internal estimates and has posted earnings in excess of one billion for the first half of '08. True, the company also posted a $510 million loss in Q1 according to minority shareholder Daimler. And since Chrysler is privately held, it doesn't need to tell anyone whether these earnings put it in the red or black.
If you pay attention to the Business section of the newspaper, then you're no doubt aware of how many public companies have been restating their earnings as of late. You can thank the Sarbanes-Oxley Act of 2002 for that, which was passed in the wake of accounting scandals at such companies as Enron, WorldCom and Tyco. General Motors has restated its earnings in the recent past, and in its annual 10-K report of results for 2006 revealed that its ability to effectively and accurately report its fi
Following DaimlerChrysler's announcement that it will be stopping production of the SMART ForFour sedan, partner Mitsubishi Motors Corp. has stated it will end production at the company's Netherlands plant as well. The Japanese automaker still plans to manufacturer engines for DCX's SMART two-seaters.
On Tuesday, ZAP, makers of the micro Smart Cars (not to be confused with the smart cars by DaimlerChrysler) posted sales totaling $2.3 million since inception according to the company. Said Steve Schneider, ZAP CEO, "The purpose of this announcement is to let the world know that we are executing on our business plan."