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First Trust NASDAQ Global Auto Index ETF (CARZ)

  • Dec. 20, 2011, 10:29 AM
    General Motors (GM +2.1%) CEO Dan Akerson says the carmaker will produce 60K Chevrolet Volts after only selling 5K vehicles in 2011 YTD - a lofty goal that has a few analysts scratching their heads. He brushes off the issue of safety concerns, as he looks forward to a profitable future for the model: "By this summer we will (be in) what I call the second generation, where we will achieve certain scale and we should see an appreciable drop in the cost of the production of the Volt."
    | Dec. 20, 2011, 10:29 AM | 3 Comments
  • Dec. 20, 2011, 6:46 AM
    Audi (VLKAY.PK) CEO Rupert Stadler sets BMW (BAMXY.PK) in his sights, as the carmaker expects to see a surge of growth next year despite a stumbling global economy. Strong growth in China has helped Audi hit the 1.3M unit sales mark this year, and kept it on track to become the second-best selling premium car line in the world.
    | Dec. 20, 2011, 6:46 AM | Comment!
  • Dec. 19, 2011, 6:42 AM
    Saab Automotive files for bankruptcy in Sweden, hours ahead of a planned reorganization hearing. The longtime carmaker's proposed plans for reorganization were rejected over the weekend by GM.
    | Dec. 19, 2011, 6:42 AM | Comment!
  • Dec. 19, 2011, 4:06 AM
    Despite some macro shocks, the automotive industry grew to a record size in 2011, with forecasted sales growth of 4% this year to 75M units. Eastern Europe reported the fastest growth in sales, followed by South America. The U.S.'s recovering market grew 9% this year vs. China's cooling market, which expanded 5%.
    | Dec. 19, 2011, 4:06 AM | 2 Comments
  • Dec. 16, 2011, 8:36 AM
    Employees at General Motors'(GM) Lordstown, Ohio complex are still waiting for the all-clear signal to go back to work after production shutdown enters its 5th day. The firm says an unspecified "supplier issue" is the root cause of the problem that is impacting the manufacturing of Chevrolet Cruze compact cars.
    | Dec. 16, 2011, 8:36 AM | Comment!
  • Dec. 16, 2011, 7:31 AM
    BMW (BAMXY.PK) plans to set up a plant in Brazil to help it keep pace with global sales after knocking out record deliveries in 2011. CEO Norbert Reithofer reiterates the firm's goal to increase sales 25% to 2M cars by 2020, while noting the carmaker was better prepared than rivals for the financial crisis due to its lower production costs and financial cushion.
    | Dec. 16, 2011, 7:31 AM | Comment!
  • Dec. 14, 2011, 6:47 AM
    China plans to impose duties on vehicles imported from the U.S., according to an announcement from its commerce ministry. GM faces duties - tagged as anti-dumping and countervailing charges - of 12.9%, while Chrysler (FIATY.PK) imports will get hit with a 8.8% rate. The U.S. units of Daimler (DDAIF.PK) and BMW (BAMXY.PK) came off with lighter duties of 2.7% and 2%, respectively.
    | Dec. 14, 2011, 6:47 AM | 14 Comments
  • Dec. 13, 2011, 10:57 AM
    Pay for performance: Hourly workers at General Motors (GM -1%) and Ford (F +0.1%) will receive $250 bonus checks as early as this week or next for meeting defined targets set forth in the new contract with the UAW. Will more labor contracts follow the incentive model?
    | Dec. 13, 2011, 10:57 AM | 8 Comments
  • Dec. 12, 2011, 3:50 PM
    General Motors (GM -1.9%) halts production at its Lordstown, Ohio plant that makes the hot-selling Chevrolet Cruze due to what it characterizes as a supplier issue. The carmaker didn't detail if the problem relates to a widespread manufacturing slowdown in Thailand that has notably affected Japanese automobile companies.
    | Dec. 12, 2011, 3:50 PM | 1 Comment
  • Dec. 12, 2011, 1:20 PM
    Tech consulting firm Pike Research dismisses all the buzz about safety issues with Chevrolet Volts - issuing a seemingly rosy report on the sector. Data from the firm projects electric-powered vehicles will hit 5% of the total auto market by 2017 with a market share breakdown of +20% for EV-players Ford (F), Toyota (TM), and General Motors (GM), and around 4.6% for upstart Tesla Motors (TSLA). Will sales be high enough for carmakers to recover their significant investments into developing and producing greener cars?
    | Dec. 12, 2011, 1:20 PM | 4 Comments
  • Dec. 12, 2011, 1:05 PM
    Ford (F -2.4%) President Mark Fields squelches talk that the carmaker is looking for a new CEO on CNBC, saying "Alan Mulally is here and not going anywhere." Last week, the firm's head of social media fired up a comment to Wall Street Breakfast along the same lines.
    | Dec. 12, 2011, 1:05 PM | Comment!
  • Dec. 12, 2011, 9:21 AM
    The NHTSA says its safety investigation over Chevrolet Volts could be lengthy as it probes the cause of post-crash fires of the electric vehicles. The company line coming out of Detroit from GM is that it can resolve the issue without a major battery redesign. Shares of GM -1.8% premarket.
    | Dec. 12, 2011, 9:21 AM | 2 Comments
  • Dec. 9, 2011, 12:43 PM
    Ford (F +2.9%) recalls 128K Fusion and Mercury Milan sedans to fix the risk that defective wheels could fall off. A letter (.pdf) to the NHTSA from Ford outlines that only 2010 and 2011 are potentially affected.
    | Dec. 9, 2011, 12:43 PM | 5 Comments
  • Dec. 9, 2011, 8:08 AM
    Shares of General Motors (GM) and Ford (F) both tilt higher after rival Toyota (TM) cuts its FY12 outlook dramatically. Premarket: GM +1.5%, F +1.6%, TM -0.6%.
    | Dec. 9, 2011, 8:08 AM | 1 Comment
  • Dec. 9, 2011, 7:50 AM
    Mitsubishi Motors (MMTOF.PK) delivers the all-electric "i" to a San Francisco non-profit, as it waits to see if the tiny new car catches on with the general public before it pulls the trigger on mass production. It's been a bit of a dicey time for the electric car market with an ongoing safety investigation over Chevrolet Volts (GM) brewing and a harsh downgrade of Tesla Motors (TSLA) over industry demand concerns weighing down sentiment.
    | Dec. 9, 2011, 7:50 AM | Comment!
  • Dec. 8, 2011, 3:10 PM
    The Detroit News reports that General Motors (GM -4.4%) is slowly laying off white-collar employees as it undergoes a global streamlining. The company maintains no mass layoffs are planned as it aims to continue looking for "efficiencies."
    | Dec. 8, 2011, 3:10 PM | 3 Comments
CARZ Description
Investment Objective/Strategy - The First Trust NASDAQ Global Auto Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an equity index called the NASDAQ OMX Global Auto Index.

There can be no assurance that the Fund's investment objectives will be achieved.

* The index is a modified market-capitalization weighted index that includes securities of companies that are classified as an Automobile Manufacturer.

* To be included in the index, a security must meet the following criteria:
o listed on an index-eligible global stock exchange,
o have a minimum worldwide market capitalization of at least $500 million,
o have a minimum three-month average daily dollar trading volume of $1 million.

* The index employs a modified market cap weighting methodology in which larger companies receive a larger index weighting. The index weighting methodology includes caps to prevent high concentrations among larger stocks.

* The index is reconstituted annually and rebalanced quarterly.
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