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Chrysler reduced incentive spending last month, looking to conserve precious cash. According to figures compiled by Edmunds.com, the average November spiff of $3490 was $205 lower than October 2008, but up $176 from November 2007 as the competition for scarce sales remained fierce. Ford was the big spender in November with an average of $3,731 [...]
Even as Chrysler CEO Bob Nardelli was in Washington pleading pleading for money, the Financial Times reports that an unnamed source says owner Cerberus Capital Management is interested in returning to merger talks with General Motors. The talks are currently at what the Times‘ source describes as ”a very low level” but they would be ramped up quickly if a federal [...]
German adventurer Matthias Jeschke is leading a team of intrepid explorers in three specially-equipped Jeep Wrangler Unlimited Rubicons on a drive from Paris to New York. Since the North Atlantic is a bit deeper than even the Wrangler can ford, they are going the long way: east, spanning the Eurasian continent, making a midwinter crossing [...]
As predicted, October’s U.S. light vehicle sales weren’t pretty. A tough economy and severely tightened credit produced a seasonally adjusted annual rate of just 10.56 million sales, the lowest SAAR since February 1983. Combined reported sales numbers missed even September’s anemic levels, coming in at about 838,000 units, 130,000 units less than last month and [...]