DETROIT — Ford Motor Co on Tuesday will launch a new luxury version of its F-150 pickup truck that could command prices above US$60,000, answering growing demand from U.S. consumers for trucks that could substitute for a higher end German sedan.
The 2016 Ford F-150 Limited will go on sale later this year, and will be a step up from the automaker’s current top-of-the-line pickup, the F-150 Platinum.
General Motors Co.’s second-quarter profit beat analysts’ estimates, helped by a surge in U.S. pickup sales, as the company begins to refresh its lineup with new trucks to go with the heralded Impala sedan.
Profit excluding one-time items was 84 cents a share, GM said, exceeding the 77-cent average of 13 estimates compiled by Bloomberg. That compares with 90 cents a share a year earlier.
Fiat Chrysler Automobiles makes its Wall Street debut to great fanfare on Monday, listing on New York Stock Exchange. The move shifts the carmaker's center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne.
In a press release on Tuesday, General Motors Company (GM) announced the prices of its two new mid-size trucks, the Chevrolet Colorado and the GMC Canyon, that are expected to be re-launched in the fourth quarter of the current year. The Chevrolet Colorado will be launched at a base price of $20,995, and the GMC Canyon will start at a base price of $21,880. The new mid-size trucks will be produced at the company’s Wentzville assembly plant.
Sheila Cockrel remembers one early sign of Detroit’s decline: The retailer J.L. Hudson’s turned off the lights on floor after empty floor as shoppers abandoned the world’s tallest department store for new suburban malls.
“That’s nobody’s fault, that’s what happens in culture,” said the former Detroit councilwoman who now teaches history at the city’s Wayne State University. “You have these larger economic forces in play.”
DETROIT — Fiat Chrysler must offer to buy back from customers more than 500,000 Ram pickup trucks and other vehicles in the biggest such action in U.S. history as part of a costly deal with safety regulators to settle legal problems in about two dozen recalls.
The Italian-American automaker also faces a record civil fine of up to $105 million. In addition, owners of more than a million older Jeeps with vulnerable rear-mounted gas tanks will be able to trade them in or be paid by Chrysler to have the vehicles repaired.
Ford Motor Company (F) is sticking with its policy to push out fuel-efficient vehicles even as gas prices in some states dropped below $2 last week. Ford’s global product-development chief Raj Nair told the Detroit Free Press in an interview that the company is “working hard” on developing a hybrid and possibly a diesel drive train for its bestselling vehicle— the F-150 full-size pickup truck.