auto industry

(Newser) - Barack Obama called out the U.S. auto industry yesterday in its own front yard, reports The Wall Street Journal. In a sold-out speech at the Detroit Economic Club, the Illinois senator blamed much of the industry's current problems on automakers, whom he criticized for making larger and larger vehicles...

(Newser) - A loss is a win for Ford this morning, as the company's shares soared nearly 10% on smaller-than-expected first-quarter losses. Investors see the $282 million net loss—down from $1.4 billion in first quarter 2006—as a sign the company's ambitious turnaround plan is on track.

(Newser) - Beverly Hills billionaire Kirk Kerkorian has offered to buy the Chrysler group for $4.5 billion. Kerkorian's investment company, Tracinda Corp., can pay cash for the ailing automotive giant, and is pitching an extra $100 mil for an exclusive two-month period to run due diligence. Tracinda told parent DaimlerChrysler it...

(Newser) - Stodgy luxury standby Lexus is trying to trade up to the hot "prestige luxury" market with a new line of $70,000 and up automobiles.  Along with the new models comes a massive rebranding effort that aims, says a  marketing manager, to get "Louis Vuitton, Prada, Gucci...