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Ford Seeks New China Joint Venture

Fri, 14 May 2010 10:53:23 EDT

NEW YORK (TheStreet) -- China joint-venture partners Ford, Mazda Motor and Chongqing Changan Automobile are seeking permission from the Chinese government to opt out of their three-way partnership -- generally considered to be more complicated -- according to a report.

Ford and Masda want to continue their partnership with Changan, but on their own. This approach would allow both companies more freedom to approach their China strategies the way they want, according to sources cited by Reuters.

Upon receivingthe official green light to do this, Ford and Mazda would each be forming a 50-50 joint venture with Changan, the report says. Ford's new JV with Changan would be based out of Chongqing, China, while Mazda's new JV would be based out of Nanjing, China. ...

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Mulally Can Drive Ford Past 65

Thu, 13 May 2010 13:36:43 EDT

DETROIT TheStreet) --

Perhaps the biggest question raised at the Ford annual meeting Thursday involves the future of CEO Alan Mulally, who will turn 65 on Aug. 4.

Responding to a shareholder, Chairman Bill Ford said the company's retirement policy is flexible. "Alan has been completely superb for this company," he said. "We'd like him to stay as long as he wants." Ford Motor Co. CEO Alan Mulally, left, and Chairman Bill Ford, right, laugh during a news conference after Ford's annual shareholders meeting, Thursday, May 13, 2010, in Wilmington, Del ...

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Toyota Expects 2011 Profit to Rise 48%

Tue, 11 May 2010 04:13:45 EDT

TOKYO (TheStreet) - Toyota, the world's No. 1 automaker, returned to profit in the fiscal year ended in March and forecasts profit for fiscal 2011 to rise 48%.

Toyota, plagued by recalls for much of the fiscal year, said net income for fiscal 2010 was 209.4 billion yen ($2.26 billion), a reversal from a year-earlier loss of 437 billion. Sales were 18.95 trillion yen, a decline of 7.7%.

Toyota said Tuesday that vehicle sales for the fiscal year fell by 330,000 units to 7.24 million units. In North America, vehicle sales totaled 2.1 million units, a decrease of 114,000 units. ...

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Ford, Toyota, GM: Comparing the Fines

Mon, 10 May 2010 15:56:05 EDT

(Toyota story updated with LaHood's latest thoughts on Toyota's safety control measures and company statement on progress with remedying recalled vehicles) NEW YORK (TheStreet) -- U.S. Transportation Secretary Ray LaHood seems to be warming up to Toyota after levying a huge fine against the automaker for being slow to notify authorities of its dangerous "sticky pedal" problems, despite being aware of the problems.

Speaking at a press conference after meeting with Toyota's president Akio Toyoda at the company's headquarters in Japan, LaHood expressed encouragement by the company's efforts to improve its quality control measures since Toyoda's harrowing visit to the U.S. capital in February, where he was grilled by angry congressional members over the automaker's auto safety defects and massive recalls. However, LaHood says he's still looking for continued improvement in the company's safety mechanisms.

LaHood's department is still in the process of investigating page after page of documents handed over by the firm to determine whether to charge Toyota additional fines. Don't Miss 2010 Auto Recalls: Full List ...

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Ford Stock: Bulls Overwhelm Bears

Sat, 08 May 2010 12:16:37 EDT

NEW YORK (TheStreet) -- In the first week of May, we polled TheStreet users on their opinion of whether there's much upside left for Ford stock after its impressive run over the past year.

Out of more than 2000 votes, 84.2% said they're bullish on Ford stock and believe there's more upside left for the stock. Only 12.1% of respondents said they're taking a wait-and-see approach on Ford.

Meanwhile, a mere 3.8% of voters were bearish about Ford, believing that the stock had run its course, at least for now. ...

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Cash for Caulkers: What's Next?

Fri, 07 May 2010 14:37:52 EDT

(Cash for Caulkers story updated with stock price movements of companies that could benefit from the program and U.S. Senate plans for the bill.) NEW YORK (TheStreet) -- The House has approved "Cash for Caulkers," or the "Home Star" bill, which would reward rebates worth thousands of dollars over two years to those who weatherize their homes.

President Obama has been a supporter of the $6 billion bill. Those who install energy-preserving insulation, doors and windows could be rewarded with as much as $3,000.

The bill, according to Democrats, will not only be good for the environment and help Americans save billions of dollars in energy bills, but also breathe life into the construction industry and promote job growth. ...

Ford Stock: Is There More Upside?

Thu, 06 May 2010 12:38:15 EDT

(Ford poll piece updated with comments from trader/RealMoney contributor.) NEW YORK (TheStreet) -- Since Ford issued its latest earnings release last week and its April sales figures this week, industry experts and investors have been searching for a consensus on the direction of Ford stock.

Private trader and RealMoney contributor Alan Farley says "I love Ford, which is one of my three top 2010 picks but have been expecting this decline," referring to signs of what he thinks could be the "end of its yearlong vertical rally and the start of a corrective phase...."

Farley adds that he's looking forward to buying the stock for an investment account in the third or fourth quarter, down in single digits. ...

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General Motors Recalls Hummers

Wed, 05 May 2010 14:52:34 EDT

DETROIT (TheStreet) -- General Motors said Wednesday it is recalling all Hummer H3s produced since the 2006 model year because part of the hood can come loose.

The voluntary recall affects 164,190 Hummers in the U.S. and 198,404 worldwide, the company said. The H3 is the small version of the Hummer.

Hummer spokesman Nick Richards told the Associated Press that a device on the hood called a hood louver can come loose and possibly detach while the Hummer is being driven. He said the repair involves using an adhesive to glue the device to the hood. ...

Ford, Toyota: Two Kinds of Progress

Wed, 05 May 2010 14:23:19 EDT

NEW YORK (TheStreet) -- Toyota announced Tuesday that it has now performed more than 3 million "fixes" for three recent recalls, including those for the sticking accelerator pedals and floor mat-pedal entrapment that so damaged the company's reputation earlier this year.

Toyota said it has performed 1.6 million procedures to address the potential for sticking accelerator pedals, and 1.5 million to address the potential for floor mat pedal entrapment.

Toyota said it has also made 115,000 program updates to the anti-lock brake systems in certain 2010 Prius and Lexus models. The company said that more than 732,000 vehicles have received both the floor mat and sticking pedal modifications, bringing the total number of recalled vehicles that have been serviced to about 2.4 million. ...

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Ford Stock: What Will It Do Next?

Tue, 04 May 2010 16:11:44 EDT

(Ford story updated with Ford April sales figures, analyst reaction to the figures and stock price movement.) Ford is still generating a mixed bag of reviews after reporting strong first quarter earnings last week and yet another month of sales improvements this week. Ford Fiesta

The reaction has hardly surprised Ford equity analysts.

"Ford has had a strong run over the past year, so it's not surprising people have locked in profits," Standard & Poor's analyst Efraim Levy told TheStreet. Now "the question is, what will you do for me next?" Meanwhile, Craig-Hallum Capital analyst Steve Dyer said that "it's natural that people would begin to question how much upside is left." ...

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Toyota April Sales Up 24.4%

Mon, 03 May 2010 16:09:45 EDT

NEW YORK (TheStreet) -- Toyota's U.S. sales rose 24.4% year-over-year to 157,439 in April, as the company kept up its aggressive customer incentive programs.

The Toyota division posted April sales of 139,080 units, up 23.8% over the same period last year and the Lexus division reported April sales of 18,359 units, up 29.3%.

Last month's results were lower than that of the previous month. Toyota had reported March sales results of 186,863 units, an increase of 35.3% over the same period last year. ...

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Ford April Sales Up 25%

Mon, 03 May 2010 12:27:57 EDT

NEW YORK (TheStreet) -- Ford has reported a 25% increase in April sales, the fifth straight month Ford sales have increased more than 20%.

The company said that Ford, Lincoln and Mercury April sales rose 25% to 162,996 compared to the year before. The automaker added that Ford gained retail market share for the 18th time in the last 19 months. "Customers are benefiting from our strong new product lineup," Ford vice president, U.S. marketing sales and service Ken Czubay said in a written statement. "Our laser focus on quality and dependability is increasing Ford resale values at a higher rate than the overall industry."

Meanwhile, GM on said Monday that its April vehicle sales were up 6.4% year-over-year, with an increase in combined sales for its four brands in the U.S., following GM Chairman and CEO Ed Whitacre's announcement on April 21 that the company is years ahead of schedule repaying bailout loans received under the Troubled Asset Relief Program. ...

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GM April Sales Up 6.4%

Mon, 03 May 2010 12:00:44 EDT

NEW YORK (TheStreet) -- GM has announced that its April vehicle sales were up 6.4% year-over-year, with a 20% increase in combined retail sales for Chevrolet, Buick, GMC and Cadillac.

Total sales for GM's four brands in the U.S. amounted to 183,091 in April.

GM said that the continued year-over-year sales increases are largely being driven by the company's launch products, which now represent one of every four GM vehicles sold at retail. ...

Top Five Auto-Parts Stocks to Drive to Profit

Mon, 03 May 2010 09:48:19 EDT

NEW YORK (TheStreet) -- Conflicting evidence of a global auto rebound, the volatility of raw material input costs, and differing opinions regarding the potential of double-dip recession have driven uncertainty in auto-supplier stocks. Which makes the auto-supplier stock you pick all the more crucial. Read on to learn more about the auto-supplier stocks that will be reporting soon... WABCO

Earnings Date: May 5 (before the market opens)

Consensus Estimate: 25 cents earnings per share ...

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American Axle Stock: Investors Take Profit

Fri, 30 Apr 2010 10:26:00 EDT

NEW YORK (TheStreet) -- American Axle has been trading in the red, as investors took profits after the company swung to a profit and announced in-line first-quarter earnings.

American Axle has fallen 2.7% to $11.42 about 20 minutes into Friday's regular trading session.

American Axle said it posted net income of $16.3 million, or 22 cents a share, during the first quarter versus a net loss of $32.7 million or 59 cents a share the previous year, reflecting the favorable impact of improving global industry conditions and its ongoing effort "to sustain reductions in AAM's fixed cost structure and operating breakeven level." The Wall Street consensus estimate for the quarter was 22 cents a share. More Earnings Today's Top Earnings Earnings Calendar ...

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