Auto News 5

General Motors on Monday will name Al Koch as chief restructuring officer, according to a source familiar with the effort. Full story...
AutoNews5 Tags: General Motors

The Obama Administration expects to take General Motors into Chapter 11 bankruptcy Monday and quickly get the carmaker out with $30.1 billion in bankruptcy financing, the White House said in a statement. Full story...
AutoNews5 Tags: General Motors, Mini

Suppliers with outstanding receivables not covered by last Thursday's $2 billion early payment by General Motors are likely to be paid even if the automaker files for bankruptcy, which is expected tomorrow. Full story...
AutoNews5 Tags: General Motors

Volkswagen AG's chief labor representative, Bernd Osterloh, said he had little faith in Porsche's two top managers and said unions were still skeptical about merging the carmakers. Full story...
AutoNews5 Tags: Porsche, Volkswagen

For decades, unionized manufacturing jobs have been considered the surest path to middle-class prosperity and realizing the vaunted American dream for blue-collar workers. The UAW helped make that dream a reality. Full story...
No tags for this post.

French unions at tire maker Continental AG said on Sunday they had won an agreement from management to give them a minimum payoff of 50,000 euros ($69,970) in compensation for the plant's closure. Full story...
AutoNews5 Tags: Mini

French unions at tire maker Continental AG said on Sunday they had won an agreement from management to give them a minimum payoff of 50,000 euros ($69,970) in compensation for the plant's closure. Full story...
AutoNews5 Tags: Mini

General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history. Full story...
AutoNews5 Tags: General Motors

General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history. Full story...
AutoNews5 Tags: General Motors

BERLIN (Reuters) -- The budget and finance committees of two German states with large Opel plants on Sunday endorsed a deal with Magna International, General Motors and the U.S. government to save Opel from the bankruptcy of its parent. Full story...
AutoNews5 Tags: General Motors, Opel

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...
AutoNews5 Tags: Fiat, General Motors, Opel

Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors. Full story...
AutoNews5 Tags: Fiat, General Motors, Opel

U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co's chief sales analyst said. Full story...
AutoNews5 Tags: Chrysler, Ford

U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co.'s chief sales analyst said. That would be the highest rate since January's 9. Full story...
AutoNews5 Tags: Chrysler, Ford

U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co.'s chief sales analyst said. That would be the highest rate since January's 9. Full story...
AutoNews5 Tags: Chrysler, Ford

Union leaders have urged the British government to do more to safeguard jobs at Vauxhall after Germany announced a deal to save the European arm of General Motors. Full story...
AutoNews5 Tags: General Motors

General Motors finished a key piece of business on Saturday before a bankruptcy filing planned for Monday as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration. Full story...
AutoNews5 Tags: General Motors, Mini

A majority of General Motors bondholders have agreed to a debt-for-equity exchange, smoothing the way to a bankruptcy filing expected on Monday, a source familiar with the voting said today. Full story...
AutoNews5 Tags: General Motors

Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday. Full story...
AutoNews5 Tags: General Motors, Mini, Opel, Saab

Investors representing about 54 percent of General Motors' $27.2 billion of bonds indicated support for a U.S. Treasury-brokered swap that could help speed the automaker's way through bankruptcy. Full story...
AutoNews5 Tags: General Motors