A Detroit grand jury on Wednesday indicted a former Fiat Chrysler executive in charge of negotiating US labor agreements, charging him with raiding a workers’ training fund to benefit himself and union officers. Alphons Iacobelli, an executive at FCA US, the American arm of the car giant, was in charge of negotiating and administering collective … Read more
Auto makers offered big discounts over the Memorial Day holiday, but the response from US car buyers in May was not enough to definitively reverse months of sales declines. After seven years of gains, there were further signs that US car sales have plateaued, analysts said, as monthly sales data suggested a mixed picture amid … Read more
Car sales in the US slowed significantly in April, accelerating several months of declines that suggest the industry’s record sales streak may be behind it. The big three American automakers on Tuesday all reported sales fell in April compared to the same period last year. Many analysts had expected the retreat, forecasting an industry-wide decline … Read more
Tesla has become the second-largest US car maker in terms of market capitalization, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing. Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge … Read more
Many auto makers had a difficult month in March, posting considerable declines in US sales, defying expectations for an increase compared to the same month of last year. In the final month of the first quarter, many brands on Monday reported sales dropped compared to March 2016, when the industry was seeing record gains. Forecasters … Read more
Americans’ strong appetite for light trucks and sport utility vehicles helped drive sales higher in February at some automakers, while others struggled with continued weakening demand for sedans and compact cars. GM and Nissan posted sales gains last month, while Ford and Fiat Chrysler’s US subsidiary reported declines compared to the same period a year … Read more