Thursday, October 9, 2008
Stock woes slam Ford, GM
Sinking share prices hinder automakers’ turnarounds
Bryce G. Hoffman / The Detroit News
Shares of Ford Motor Co. and General Motors Corp. continued their nosedive Wednesday, making it harder for those companies to raise cash and renewing concerns about the future of Detroit’s automobile industry.
Ford shares dropped 8.9 percent Wednesday [...]

Thursday, October 9, 2008
Price at pump $3 and sinking
Cheapest crude since Feb., falling demand drive down cost; more declines expected.
Tom Greenwood / The Detroit News
While the economy might be in the tank, there’s a bright spot for motorists: It’s costing less to fill up the tank.
More than a half-dozen service stations in southeastern Michigan have [...]

Report: Toyota profit to fall 40%, will miss estimates
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Automotive News
October 8, 2008 - 7:00 am ET

 
TOKYO (Reuters) — Toyota will likely post a 40 percent slide in annual profit, missing its profit estimates on weak sales in North America and slower growth in China, the Nikkei business daily reported.
The Yomiuri newspaper reported that the [...]

 
Citigroup downgrades GM, Ford to sell
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Automotive News | October 8, 2008 - 9:30 am EST
 
 
NEW YORK (Reuters) — Citigroup downgraded Ford Motor Co. and General Motors to "sell" from "hold" citing deteriorating global credit conditions and "unappealing" valuations.
The credit crunch is likely to further stress original equipment manufacturers balance sheets and 2010 recovery expectations, analyst [...]