Jan 30, 2009 -
News From AutoObserver.com
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Hi,
Here are some highlights from Edmunds’ AutoObserver.com this week. As always, there is more available directly on www.autoobserver.com:
COMMENTARY Behind the Headlines: News and Maneuvers Get Weirder
The auto industry seemed to have reached agreement earlier this month to hunker down and allow the geared-down Detroit auto show to flicker on without anything as distracting as news to interfere. A rundown of some of this week's happenings, along with the between-the-lines summary courtesy of AutoObserver's branded decoder ring. For more information, visit http://www.autoobserver.com/2009/01/commentary-behind-the-headlines-news-and-maneuvers-get-weirder.html.
January Car Sales Drop from December on Fewer Fleet Sales, Edmunds.com Forecasts
U.S. car and truck sales in January are expected to come in at a weak 730,000 units when automakers report them Tuesday.January sales are expected to be down 18.1 percent from very weak sales in December, Edmunds.com estimates, largely due to significantly lower rental-car and corporate fleet sales. Retail sales will be about flat with December's. For more information on January’s forecasted sales, visit http://www.autoobserver.com/2009/01/january-car-sales-drop-from-december-on-fewer-fleet-sales-edmundscom-forecasts.html.
UAW Job Banks Gone From Big Three
Ford said Thursday the United Auto Workers (UAW) union agreed to end its Jobs Bank for laid-off employees as the union had done with General Motors and Chrysler.Elimination of the controversial Jobs Bank was a requirement for GM and Chrysler to keep their loans from the U.S. government. For more information, visit http://www.autoobserver.com/2009/01/uaw-jobs-banks-gone-from-big-three.html.
Ford Loses $14.6 Billion in 2008; $5.9 Billion in Fourth Quarter
Reporting its biggest loses in its 105-year history, Ford Motor Co. said Thursday morning it lost $14.6 billion for the full year of 2008. In the fourth quarter alone, Ford lost $5.9 billion."Ford and the entire auto industry faced an extraordinary slowdown in all major global markets in the fourth quarter that clearly had an impact on our results," Ford CEO Alan Mulally said in a statement. For more information on this story, visit http://www.autoobserver.com/2009/01/ford-loses-146-billion-in-2008-59-billion-in-fourth-quarter.html.
Feel free to share this message with others who want to stay up on auto industry news. And, please send your comments and questions to autoobserver@edmunds.com.
