Almost 50 years after Ford Motor Co.’s first Mustang introduced Americans to the fast and affordable pony car, the automaker is counting on a new design it unveils on four continents tomorrow to spur global sales.
The 17 percent surge in U.S. auto sales last month pushed the annual rate to a pre-recession, boom-time level. Even more significant, Detroit automakers are reaping profits not seen since the turn of the century.
Tesla Motors Inc.’s gamble to buy back Model S electric cars from customers using its lease-style option has potential to generate further revenue when the automaker sells used cars, according to Bloomberg Industries.
Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., Japan’s Big Three carmakers, all reported U.S. sales declines in September with tight supplies of some models after August’s surge and fewer weekend selling days.
Elon Musk, the billionaire co- founder of Tesla Motors Inc., received $4.3 million in stock- based pay for work on the Model X sport-utility vehicle that the board found “probable” the company will complete later.
A commercial showing the new Ford Fusion being driven off a cliff led David Bowhall to visit a dealer last month for a test drive. The owner of four Mercedes- Benzes in the last five years said it wasn’t much of a leap.
Detroit’s boom-and-bust history was built on a dependence on big, fuel-thirsty vehicles. Now, with freshly stocked showrooms of new cars and more-efficient trucks, U.S. automakers are gaining ground on their Asian competitors with the best lineup in a generation.