Archive | Auto Industry News

Fitch Gives Ford Positive Outlook

CHICAGO & NEW YORK - Fitch Ratings assigned a 'CC/RR6' rating to Ford Motor Company's issuance of $2.875 billion seven-year senior unsecured convertible notes, a positive ratings outlook. The Positive Outlook reflects the better-than-expected progress on Ford's cost reduction program, production and inventory discipline that ... Read More » Tags: ,

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Comerica: Auto Affordability Reaches New Index Best

DALLAS - The purchase and financing of an average-priced new vehicle took 21.9 weeks of median family income in the third quarter of 2009, according to Comerica Bank's Auto Affordability Index. The third quarter reading improved 0.6 of a week, pushing the latest Index reading ... Read More » Tags: ,

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Chrysler Reveals 5-Year Business Plan

Auburn Hills, Mich. - Chrysler rolled out its new five-year business plan Wednesday, saying it intends to become "a great public company once again," reported the Los Angeles Times. Now managed by and partly owned by Fiat, the Italian automaker, Chrysler desperately needs new cars ... Read More » Tags:

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Lawmaker, NADA to GMAC: Floorplanning at Crossroads

WASHINGTON — U.S. Congresswoman Candice Miller (R-Mich.) and National Automobile Dealers Association (NADA) chairman John McEleney have undertaken separate campaigns to extend a program designed to provide floorplanning credit to Chrysler dealerships. Up to 140 dealerships will be adversely affected when the initial six-month term ... Read More » Tags: ,

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Protective Reports Results for the Q3 2009

BIRMINGHAM, Ala. - Protective Life Corp.'s net income for the third quarter of 2009 was $27.6 million, or $0.32 per average diluted share, compared to a net loss of $100.0 million, or $1.41 per average diluted share, in the third quarter of 2008. Operating income, ... Read More » Tags:

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Consumer Bankruptcy Filings Up 28 Percent over Last Year

ALEXANDRIA, Va. — The 135,913 consumer bankruptcy filings in October represented a 27.9 percent increase over last October's monthly total of 106,266, according to the American Bankruptcy Institute. The October 2009 consumer filings represented an 8.9 percent increase from the September 2009 total of 124,790. Chapter ... Read More » Tags: , , ,

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