The 2012 North American International Auto Show marks a resurgence for both the Detroit Cobo Hall venue and the hometown automakers General Motors Co., Ford Motor Co. and Chrysler Group LLC, which all gained market share last year against foreign rivals.
Organizers expect more than 5,000 journalists from more than 50 countries to attend two days of press conferences and about 40 product unveilings, including the Mercedes SL roadster and Ford Fusion. Show organizers signed a five-year contract to keep the show at Cobo Center, three years after some automakers shunned the show as GM and Chrysler headed for U.S.-backed bankruptcies.
Porsche SE plans to present a racing version of the 918 Spyder sports car at the Detroit auto show next week as the manufacturer returns to the event after four- years, two people with knowledge of the matter said.
Ford Motor Co., reacting to U.S. pickup sales that have gained momentum for almost two years straight, said it plans to add workers at an F-150 truck factory to boost production of its most profitable model line.
Investors should buy options “straddles” on Ford Motor Co. and General Motors Co. because the Detroit auto show may be a bigger catalyst for stock moves than it has in the past, Goldman Sachs Group Inc. said.
Fisker Automotive Inc., the electric-car maker that missed its first payment on a U.S. loan this week, sought taxpayer financing at the urging of President George W. Bush’s administration, its co-founder said.
Toyota Motor Corp.’s small sedan revealed today in Detroit is the most important model the company will never sell. Called Furia, it gives a hint of what Akio Toyoda wants from a company not known for its style.
Volkswagen AG Chief Executive Officer Martin Winterkorn cut short his visit to the North American International Auto Show in frigid Detroit this week to head to balmy Mexico. He didn’t go for the weather.
The Chevrolet Corvette, once the coolest of cool rides on Route 66 and the rest of America’s roads, has suffered the cruelest of fates: It’s known as an old man’s toy. Even the head of Chevy marketing acknowledges that too many people see it as the car of “the successful plumber.”