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August 8, 2007
Report: Chrysler lost $1,111 on each North American vehicle last yearIt's a business goal that sounds simple enough: make money on the products you sell. It's also the biggest and most obvious challenge that lies ahead for Chrysler's new Chairman and CEO Robert Nardelli, the former GE executive and Home Depot chief who took charge of Detroit's No. 3 automaker on Monday, the Detroit Free Press reports. The size of his challenge grew substantially last year, according to a study by Laurie Harbour-Felax, who recently joined consulting firm Stout Risius Ross. Her analysis, released Tuesday at the Management Briefing Seminars in Traverse City, found that Chrysler lost $1,111 for every vehicle it sold in North America last year, as the company continued to churn out fuel-thirsty SUVs that sat on dealers' lots. In 2005, Chrysler made $144 per vehicle, according to Harbour-Felax's study.
Posted by Peter C. T. Elsworth Toyota sees lower industrywide '07 U.S. auto salesToyota expects industrywide U.S. auto sales to slow for the second straight year in 2007, with a rebound beginning in 2008, the company's U.S. sales chief said today, according to Reuters. The Japanese automaker expects sales of 16.3 million vehicles this year, down 2 percent from 16.6 million in 2006. Sales in 2005 were just short of 17 million vehicles.
Posted by Peter C. T. Elsworth Oil Prices Drop Ahead of US Stocks DataOil prices fell today as traders awaited the release of a U.S. government fuel stocks report expected to show gasoline inventories rose last week, according to the Associated Press. The report was expected to show another drop in crude oil inventories, but increases in both refinery activity and gasoline supplies, according to a Dow Jones Newswires survey of analysts. Light, sweet crude for September delivery fell 28 cents to $72.14 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract had risen 36 cents to settle at $72.42 a barrel on Tuesday.
Posted by Peter C. T. Elsworth |
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