The majority owners of NASCAR, the company which operates the namesake U.S. car-racing series and other motorsport events, are exploring options including the sale of their entire stake, people familiar with the matter said on Monday.
Telsa Motors has some big plans. The electric car company is building its $5-billion Gigafactory near Reno, NV to guarantee a steady supply of lower-cost batteries, has plans to release two new models and is even talking about providing home energy storage on a large scale. The California automaker is ramping up EV production, and hopes to eventually be producing 500,000 cars per year. To do all this, Tesla is going to need a lot of cash, particularly if any of its cars becomes the "next big thi
In a world where electric cars are far from the norm, it seems odd to us laypeople that you can't buy a share of Tesla stock (ticker symbol TSLA) for less than $230. But a research note issued Monday from Goldman Sach's respected team of auto industry analysts (seen in PDF form in our gallery) has added fuel to the irrational exuberance fire, guaranteeing that Tesla's stocks should hover at these seemingly unreasonable prices for some time.
Goldman Sachs Japan isn't exactly painting a rosy picture for the future of Toyota. The investment group says the automaker isn't recovering from the automotive implosion as quickly as its competitors. As a result, the predictions regarding the company's return to pre-sales-collapse figures have been toned down. Goldman Sachs Japan now says that while it fully expects to see car sales eclipse the previous average growth rate of 2.6 percent per year, jumping to eight and nine percent from 2010 on
Porsche's merger with Volkswagen is a step back from Porsche taking outright control of VW, something the automaker has been fighting various German entities to do for over a year. The willingness to co-exist is being put down to Porsche's debt levels, which can't be easy to refinance when banks are holding on to their money like a toddler guarding his last chocolate Easter bunny.
If $120+ per barrel of black gooey stuff of puts you in a bad mood, you might not want to read this. According to energy strategist Argun Murti of Goldman Sachs, "Surging demand was increasingly likely to create a 'super-spike' past $200 in six months to two years' time." Yikes! Ethel, get in the ark! No, first help me with this pair of aardvarks!
After months of outrageous oil price spikes, we realize that the shock value of $100 to $105/barrel is fading fast, so we're going to skip ahead to $200/barrel. The finance wizards at Goldman Sachs have raised their outlook for 2008-2012 oil prices by $15 to a high end of $135 per barrel, but a major disruption could make matters much worse. How bad could it get? Goldman Sachs seems to think a spike to $150-$200/barrel is a possibility.
Oh boy. It looks like the $5.8 billion loss Ford just reported isn't the end of the red ink for the foreseeable future. On Oct. 23, new Ford Motor Co. CEO Alan Mulally had to announce those huge third-quarter losses, the biggest quarterly loss since 1992. The Premier Automotive Group (the luxury group that includes Land Rover, Aston Martin, Jaguar, and Volvo), alone was responsible for $600 million of that loss. Now the company has announced that fourth-quarter earnings will also be dismal due t
In an effort to firm up its finanaces, General Motors announced today that it has sold a majority interest in GMAC Commercial Holdings Corp. from the company's financing division, GMAC (General Motors Acceptance Corp.).