On the heels of unveiling the new Corvette Stingray at the Detroit Auto Show, GM has announced that it will invest $1.5 billion in North America factories in 2013 according to Mark Reuss.
GM hasn’t been as hot as Chrysler, but the company has had some hits, like the new Cadillac ATS. Hopefully these new investments pay off.
On a day when we heard about disappointing job numbers, the Obama administration got some good economic news for car sales numbers. The news was particularly good for Chrysler, which had another huge month with 30% year-over-year growth in May.
It marked a 12th consecutive month of sales gains of more than 20% for the company, which has gained about two percentage points in U.S. market share to nearly 11%. Total sales were 150,041.
And it comes as Chrysler prepares later this month to roll out its key new car introduction for the year, the Fiat-based Dodge Dart, above, that it aims to get the company back into the small-car game. Dart is an enlarged, Americanized version of Fiat’s sporty Alfa Romeo Giulietta.
All the company’s brands — Chrysler, Jeep, Dodge, Ram and Fiat — posted year-over-year gains in May. Fiat was up most, 128% to a record month as the tiny 500 finally gains some traction.
But the Chrysler brand was heroic — up 81%, as the 200 sedan zoomed 87% and the big 300 rocketed 140% for its best May since 2007.
The administration would be wise to emphasize this news at a time when the unemployment rate is getting plenty of attention.
I like this campaign for Buick, one of those older brands that needs to totally update their image. Fortunately, the products have improved dramatically, and the Buick Enclave is a good example.
Now that the cars no longer reflect the brand that attracted only older buyers, the brand can start working on its image. Having a supermodel like Marisa Miller point out that the Enclave has both looks and substance, like her, is a great start. This luxury SUV is a perfect vehicle to drive the new branding effort, and Marisa Miller is a perfect match. Also, this is the kind of campaign that could get some attention online and in social media.
The news from Chrysler and the US auto industry keeps getting better. Here are some updates:
-it plans to add 1,100 jobs at its Jefferson North Assembly Plant in Detroit by to build a diesel version of the Jeep Grand Cherokee
-In 2011, Chrysler’s sales increased 26.2% — the most of any major automaker
-Last month, Chrysler announced plans to reopen its Conner Avenue Assembly Plant to build the 2013 SRT Viper. That plant was idled in 2010. About 150 will be employed at that plant.
What we’re seeing is further evidence that the auto bailout was a huge success. It’s contributing to the overall rebound of the US manufacturing industry.
Also, Chrysler is making better cars. Sergio Marchionne is a great CEO. He saved Fiat and now he’s doing the same with Chrysler.
Chrysler Group said today it made a profit of $212 million in the third quarter, well up from a loss of $84 million a year earlier.
The automaker, majority-owned by Italy’s Fiat, said its revenue for the quarter was $13.1 billion, up 19% from a year ago. It had $9.5 billion in cash at the end of the quarter, down from $10.2 billion a year earlier.
The earnings announcement comes just a day after Chrysler announced a new contract with the United Auto Workers union, last of the Detroit 3 to do so. That contract won approval of just 54.75% of UAW members, and a majority of the skilled-trades workers opposed it.
This is further evident that the Obama Administration’s auto bailout has worked. Chrysler is now a healthy company, and the auto industry is helping to drive the US economy.
Be careful before taking out huge loans to get a degree from a for-profit college. Make sure you're not getting suckered into for-profit college scams that leave you with no job and huge debt.
