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Ford, Toyota, Chrysler Sales Drop

Toyota, Ford and Chrysler each reported sales declines last month, but General Motors surprised industry analysts on Tuesday by showing an increase in a declining U.S. auto market, according to the Associated Press.

Toyota's 2.8 percent sales drop, Ford's 14.4 percent decline and Chrysler's 6.1 percent decrease were symptoms of what analysts said would be slumping U.S. auto market due to high gasoline prices, rising mortgage payments and turmoil in the financial markets.

But GM, led by increased pickup truck sales, showed an increase of 6.1 percent, while Nissan Motor Co. reported its sales increased 6.3 percent for August compared with the same month last year.

Posted by Peter C. T. Elsworth  at 3:59 PM to Chrysler , Ford , GM , Nissan , Sales , Toyota | Permalink | Comments 0

Thumbing Rides Online

MILLIONS of pack rats have connected with bargain hunters via eBay, and untold numbers of lonely souls have found companionship through MySpace. Now GoLoco.org wants to use the matchmaking potential of the Internet to simplify carpooling, pairing solo drivers with people in need of a lift, according to the New York Times.

The GoLoco.org Web site goes beyond filling empty seats with people who would rather avoid owning or renting a car for a specific trip: drivers can screen potential riders by checking the descriptions and photos they have posted, and riders can rate drivers they’ve experienced.

Posted by Peter C. T. Elsworth  at 10:24 AM to On the road | Permalink | Comments 0

Economic fears to pinch auto sales

When August auto sales are reported today, they are expected to provide another sign that U.S. economic worries will challenge the auto industry for months to come, putting pressure on carmakers for further production cuts and profit-eating sales incentives, according to the Detroit Free Press.

U.S. consumers are too spooked about the housing market -- specifically, the value and marketability of their homes -- to be in the mood to buy new cars and trucks.

Posted by Peter C. T. Elsworth  at 10:19 AM to Sales | Permalink | Comments 0

Texas start-up says it has batteries beat

AUSTIN, Texas — Millions of inventions pass quietly through the U.S. patent office each year. Patent No. 7,033,406 did, too, until energy insiders spotted six words in the filing that sounded like a death knell for the internal combustion engine.
An Austin-based start-up called EEStor promised "technologies for replacement of electrochemical batteries," meaning a motorist could plug in a car for five minutes and drive 500 miles roundtrip without gasoline, according to USA Today.

By contrast, some plug-in hybrids on the horizon would require motorists to charge their cars in a wall outlet overnight and promise only 50 miles of gasoline-free commute. And the popular gas-electric hybrids on the road today still depend heavily on fossil fuels.

Posted by Peter C. T. Elsworth  at 10:12 AM to Alternative fuels , Technology | Permalink | Comments 0

Toyota aims to break GM global-sales record in 2009

TOKYO — Toyota plans to sell 10.4 million vehicles globally in 2009, it said Friday, a sales target that would put the Japanese automaker ahead of a record set by world leader General Motors 30 years ago, according to USA Today.

Analysts say Toyota Motor (TM) is likely on track to beat General Motors (GM) as the world's biggest automaker in global vehicle sales and production this year — a title Detroit-based GM has held for 76 years.

Posted by Peter C. T. Elsworth  at 10:10 AM to Sales , Toyota | Permalink | Comments 0

Gibbs NASCAR team expected to make switch to Toyota

Joe Gibbs Racing has scheduled a news conference for Wednesday amid several published reports that the team will announce it has signed a deal to field Toyotas in the Nextel Cup series, according to USA Today.

The reports, citing unidentified sources, said JGR will end its 16-year relationship with General Motors and give Toyota its first big-name team in Cup.

Posted by Peter C. T. Elsworth  at 10:08 AM to Racing , Toyota | Permalink | Comments 0

Oil Rises on Hurricane Concerns

Oil prices rose as traders monitored the pace and path of an Atlantic hurricane that could smash the oil and gas infrastructure in the Gulf of Mexico, though that appeared less likely Tuesday, according to the Associated Press.

Light, sweet crude for October delivery rose 10 cents from Friday's close to $74.14 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore.

Posted by Peter C. T. Elsworth  at 10:06 AM to Oil | Permalink | Comments 0