Chrysler

Auto/Economy
5:38 pm
Mon December 6, 2010

Granholm hails economic recovery at Chrysler event

Governor Granholm says she’s happy to leave office at a time when there’s good news about Michigan’s economy.

The Governor celebrated the addition of a second shift at Chrysler’s Sterling Heights Assembly Plant Monday.

Granholm says the announcement shows the domestic auto industry “is back.” She also cited recent economic data showing an uptick in manufacturing.

The Governor did bemoan the State Legislatures’ failure to approve a new international bridge crossing between Detroit and Ontario.

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Auto/Economy
3:20 pm
Mon December 6, 2010

Gov. Granholm makes announcement in Sterling Heights

Inside Chrysler's Sterling Heights Assembly Plant
Barack Obama's Flickr photostream

Update: 3:20pm:

The Detroit Free Press reports on what we expected from the announcement at Chrysler's Sterling Heights Assembly Plant.

Chrysler will add a second shift in early 2011 of about 900 additional workers. Many of those workers will be workers who are called back from temporary layoff.

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AUTO SALES
12:50 pm
Fri December 3, 2010

Analyst: Auto sales could reach 17 million by 2015

Car Lot
Lester Graham Michigan Radio

At a presentation to the Automotive Press Association in Detroit yesterday, Michael Robinet, director of global production forecasters at IHS Automotive, said U.S. auto sales could reach 17 million in 4 years. Robinet predicts sales will exceed 12.8 million next year and 16 million in 2013.  As the Detroit Free Press reports

That would be a huge reversal from the historically low sales levels that brought the industry to its knees during the recent recession. The last time industry sales exceeded 17 million was in 2001.

U.S. car sales were up by 17 percent last month. The country's most popular automakers in November were:

  1. General Motors
  2. Ford
  3. Toyota
  4. Honda (American)
  5. Chrysler
Auto Sales
2:49 pm
Wed December 1, 2010

Good numbers for U.S. car makers

Auto sales are up
Lester Graham Michigan Radio

Ford sales are up 24%, Chrysler sales are up 17%, and GM's are up  11%. It's been a good news week for the "Big Three" (can we still call them that?). Chrysler and GM also announced they plan to hire more workers in Michigan, and the Brookings Institution says Metro Detroit is recovering.

Here are some figures from a number-laden Detroit News article on auto sales:

  • Sales for Chrysler's Jeep brand were up 58 % for November compared to a year ago
  • Ford's year-to-date sales total 1.74 million vehicles - growing at a pace double the industry average
  • Ford's F-Series trucks were up 26 %
  • GM's big brand Chevrolet was up 18 % for the month compared to a year ago, its sales strengthened by the new compact Cruze and popular Equinox and Silverado
Auto Industry Jobs
5:05 pm
Tue November 30, 2010

Chrysler plans to add 1,000 new jobs

Chrysler headquarters in Auburn Hills, Michigan
flickr user fiatontheweb creative commons

Today executives at General Motors announced they plan to add 1,000 jobs in Michigan.

Now, Chrysler executives have announced they also plan to add 1,000 jobs.

The Wall Street Journal reports:

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Auto bailouts
5:15 pm
Wed November 17, 2010

"Successful Bankruptcies" - report says Detroit bailouts were worth it

GM and Chrysler suffered through bankruptcy in large part because it relied so heavily on SUV sales.
user ep_jhu Creative Commons

The Center for Automotive Research released a report today that analyzed the government bailouts of General Motors and Chrysler.

$80 billion was given to the auto companies. To date $13.4 billion has been repaid.

Tomorrow the GM "initial public offering" is expected to raise another $22 billion.

The reports authors say that even if the government doesn't get all of the $80 billion back, the government's investment will still have been worth it.

The report concludes:

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AUTO EARNINGS
9:17 am
Wed November 10, 2010

GM posts 3rd quarter profit

General Motors Logo
(c) GM Logo/Photo Courtesy of General Motors

General Motors announced this morning that it made $2 billion in the third quarter.  The Associated Press reports:

The profit was fueled by GM's international operations and strong revenue from newly introduced car and crossover models in North America.

The automaker's actual revenue rose 36% to a little more than $34 billion.  This was the third-straight quarter in which GM was profitable.

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Auto Earnings
7:55 am
Mon November 8, 2010

Chrysler narrows losses in 3rd quarter

Closeup of Chrysler Logo
Photo by Diego HC/Creative Commons

Chrysler says it narrowed its losses in the 3rd quarter of this year. The automaker reported a net loss of $84 million from July through September. That’s less than half of its $172 million loss in the second quarter. The automaker says this was the third quarter in a row of better-than-expected financial results.

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