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OEM News

With bankruptcy for all three US automakers not just a possibility but a probability without drastic action, Pres. Elect Obama used his first official news conference on Nov. 8 to offer help for the nation's "backbone of manufacturing."

Thursday, 30 October 2008 09:24

Toyota, Honda lead quality rankings

Toyota Motor Co.'s Scion topped the rankings in Consumer Reports' annual quality survey released Thursday.

Volkswagen briefly became the world’s largest company by market capitalization after an extraordinary surge in its share price driven by a near-panic by hedge funds and other traders to stop losses on positions betting on a fall in the stock.

Monday, 13 October 2008 11:53

Auto Sales Forecast 2008–2009

U.S. consumers will buy 13.9 M vehicles in 2008 and Edmunds.com forecasts 13.7 M for 2009. This down due to a 26.6% drop in September sales, the lowest since 1993. U.S. sales are now 2 million units below 2007, as consumers are keeping vehicles about 4 months longer, according to J.D. Power, which sees 2009 sales dropping to 13.2 M vehicles.

Monday, 13 October 2008 11:49

NADA says U.S. Could lose 700 Dealerships

The National Automobile Dealers Association (NADA) is urging the federal government to implement the $700 billion economic rescue plan as quickly as possible to ease the credit crisis. NADA Chairman Annette Sykora said, “If the country can break the credit freeze on Wall Street, then [dealers] can help revive the economy on Main Street. The credit crunch on Main Street is real. It’s increasingly difficult both for dealers and consumers, even with good credit. We've heard about dealers who couldn't get financing for buyers with credit scores in the upper-700s. That's just unprecedented.”
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