GDP growth tops estimates

By Geert De Lombaerde Posted on October 29, 2009 at 7:44 am

The consensus from economists on third-quarter economic acticity had been growth of 3.3 percent. The Bureau of Economic Analysis says it was a little higher than that, with the auto industry — thanks to cash for clunkers — accounting for almost half of the growth.

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Tags: automotive industry, Bureau of Economic Analysis, cash for clunkers, economic indicators, economy, gross domestic product, manufacturing  

Nissan wrap: Sales, new debt and a nod from Cars.com

By Geert De Lombaerde Posted on September 2, 2009 at 7:28 am

Three tidbits from the world of Nissan:

• Cash for clunkers lifted August sales of the Versa, but the truck segment is still wheezing.
• The auto maker is preparing to bring to market more than $1 billion in debt backed by auto loans that will be covered by a Federal Reserve program aimed at making the credit-card, student-loan and auto-loan markets more liquid.
• Cars.com calls the Altima one of the most improved cars of the last decade: “Its accomplishment since 2002 is how it’s provided sportier looks and driving than the big dogs have, without sacrificing livability.”

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Tags: automotive industry, Cars.com, cash for clunkers, consumer spending, debt, debt offerings, manufacturing, Nissan Motor Co., TALF, Term Asset-Backed Securities Loan Facility  

Clunker’s remorse

By Geert De Lombaerde Posted on August 27, 2009 at 11:17 am

A CNW Research poll finds that one in six people who bought a new car under the cash for clunkers program already wishes they hadn’t because of the debt they’ve taken on. That’s more than double the typical level of remorse.

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Tags: automotive industry, cash for clunkers, consumer spending, debt  

Cash for clunkers ends Monday

By Geert De Lombaerde Posted on August 20, 2009 at 5:41 pm

“The best economic news story in America” has spurred the sale of more than 450,000 cars and will be wound up after the weekend. At which point auto sales will presumably drop off a cliff…

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Tags: automotive industry, car sales, cash for clunkers, consumer spending, government stimulus, incentives  

GM brings back workers, adds overtime

By Geert De Lombaerde Posted on August 18, 2009 at 3:00 pm

Spurred by the cash-for-clunkers program, the auto manufacturer is reinstating 1,350 people and adding 60,000 vehicles to its production schedule.

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Tags: automotive industry, cash for clunkers, General Motors Corp., manufacturing  

Done explorin’

By Geert De Lombaerde Posted on August 5, 2009 at 6:02 pm

The bad news for Ford: Its Explorer SUV — recently dubbed as one of the 50 worst cars of all time — takes up six spots on the list of top cars being traded in as part of the cash for clunkers.

The good news: Its Focus compact heads up the list of cars being bought these days. The Escape also is in the top 10.

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Tags: automotive industry, cash for clunkers, consumer spending, Ford Motor Co., government stimulus, manufacturing  

Well, that didn’t take long

By Geert De Lombaerde Posted on July 31, 2009 at 7:05 am

The cash-for-clunkers program, which has met with a strong response and boosted sales for a number of auto makers, appears to be out of cash.

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Tags: automotive industry, cash for clunkers, consumer spending, incentives